Home Buyer Sanity May Be Returning

Long time Port Tampa residents have been shaking their heads in wonder for over a year now. New construction of bigger houses, with more luxury options, priced 3-4 times higher than the surrounding properties, were an oddity at first. Then construction started on a dozen or so in-fill projects, all with big price tags. Finally Inland started selling homes in the South Tampa Square development at the south end of Wall St. and the "starting from" prices were all 520K and up. Perhaps they were just feeling around for their highest price point, or maybe the overall market is softening, but a quick check of Inland Homes, Now Selling! reveals a retreat from those dizzying heights. Prices are now listed at $460,900-$482,900. This sudden bout of sanity can only help the neighborhood. When the For Sale signs quit sprouting we don't need foreclosure notices to take their place.