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Realtor says one developer made smart move when deciding to build new homes instead of new apartment
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Added: 01/01/2004
Type: Summary
Viewed: 745 time(s)
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Realtor says one developer made smart move when deciding to build new homes instead of new apartment
Realtor John Mudd knows that new apartment complexes in the area have been struggling to get new tenants to fill vacancies throughout the year, but he also knows that sales of new homes and previously owned homes have been red-hot, driving prices up, making them a smart investment for both buyers and builders.
"According to the National Association of Realtors, home prices have steadily increased throughout all of 2003 throughout the Tampa Bay area, due to high consumer demand, however, NAR has also said that renting apartments has been more of a challenge, with apartment complexes having to give away the first month to the first two months away, rent free. Apartment complexes have also had to give away TVs, VCRs and other goodies, to entice renters to rent instead of buying. This should continue, even though rates have edged up to around six percent. Lower priced rentals, targeted toward lower income tenants, however, haven't struggled in the same manner as upper-scale rentals, starting at around $600 a month. I have clients who I'm moving out of rentals, as I speak, into brand new homes. Plus, I also like the fact that new homes are more likely to increase owners' property throughout the neighboring areas, close to the new development. I'm sure they will like that, too."
John Mudd is a Realtor with EXIT Realty Suncoast. He specializes in single family homes, beach area condos and investment property sales. You can search for homes, land, lots and investment property for sale, get a free home value analysis, plus get free mortgage information from his real estate website: www.HomeInTampaBay.com, where you can also access his personal real estate journal. Mudd has a B.A. in mass communications, specializing in public relations, from the University of South Florida in Tampa, Fla. He received an A.A. from St. Petersburg Junior College in St. Petersburg, Fla. Mudd is well known for various reasons, including spending time with "adult supermodel" Mary Carey and giving Congressional testimony on diabetes cure research, yielding more than $100-million increase funding. He is a member of the Pinellas Realtor Organization's Public Policy Committee, where he serves as "Key Contact" to the City of Pinellas Park, and he is also a member of the Florida Association of Realtors and National Association of Realtors, where he serves as a member of the Commercial Alliance. He serves on the Tampa Bay Crisis Center's Communication Committee and is a member of the Florida Suicide Prevention Coalition, the Suncoast Tiger Bay Club, the Yellow Ribbon Campaign's Pinellas County chapter, the Juvenile Diabetes Research Foundation and he's also a member of the St. Petersburg College and University of South Florida alumni associations. He is the son of Jerry Mudd, the now deceased former city manager of Pinellas Park, Fla., and Sherry Adams of Big Spring, Texas.
-- REALTOR SAYS BUILDING NEW HOMES IS SMART --
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