Florida Real Estate

Over the past few years Florida has experienced the nearly nation-wide boom in real estate prices and possibly even more so. However, in the past year, the Tampa area has seen a substantial drop in home prices. It may be due in part to the market being over-heated. Another factor might also be the rise in interest rates. But another thing that is driving the price decline is the huge increase in insurance costs since last years hurricane season along with large increases in property taxes due to the increased home values. One home owner, when asked why he was selling said that his insurance went from $500 annually to over $2500. He felt he could not afford to keep his home at that added expense.

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