Good day! I apologize for the delayed entries - my 2 month old is keeping my wife and I busy!

It's hard not to get depressed about real estate these days - agents, brokers, oweners, and buyers who have trouble qualifying. Every segment has it's challenges, but there is a silver lining: AFFORDABILITY!

Homes have certainly become more affordable these days and, coupled with the low, low interest rates, it's a recipe for INCREASED HOMEOWNERSHIP - in the future, that is. Our economic recession and job losses will delay this increase, but like the tides, it will come.

Hillsborough County experienced just a slight 6% increase in home sale from Nov 07 to Nov 08. ONE THIRD (1/3) of all those sales were CASH!!! Average home prices dropped 27% over the same 1 year time frame, which greatly increases buying power.

The rub is that our supply of homes in the tri-county Tampa Bay area have decreased MINIMALLY...At one point, we were at 41,000 properties for sale - we are currently down to 37,000 and change. Look for a bottom when supply falls through 20,000 units...until then, it will be a "race to the bottom" for home sellers, as they compete with the HUGE tide of bank-owned foreclosures and distressed properties.

Hang in there, it will get better.