Riding the Real Estate Waves in St. Pete: What Now, What’s Next

Hi everyone — Gabe Alves here! I’m a proud Tampa Bay resident, longtime realtor, and graduate of Leadership St. Pete (Class of 2024). As someone who lives, works, and breathes real estate in this vibrant city, I wanted to share a few insights on what’s happening in the St. Pete housing market — and where we might be headed.Let’s rewind to about 3–4 years ago. The market was wild. Low interest rates, lightning-fast sales, multiple offers over asking — it felt like homes were practically selling themselves. But then came the interest rate hikes, and suddenly, the landscape changed. Buyers paused. Sellers hesitated. Inventory began to grow, and pricing became a lot more nuanced.Then, Mother Nature added her own twist.The impacts of Hurricanes Milton and Helene brought additional challenges, especially for homes located in flood zones. Insurance became tougher to secure, buyers became more cautious, and properties in vulnerable areas started to see longer days on market. It’s no secret — when you add flood risks to the equation, decisions become even more calculated.So what’s going on now?We’re in what I like to call a “rebalancing act.” Interest rates are still high compared to the pre-pandemic years, and the added complications from recent hurricanes are making buyers — especially those shopping in flood-prone areas — more selective. But the silver lining? More inventory, more opportunities, and a chance for buyers and sellers to make moves thoughtfully and strategically.Here’s how I’m seeing it:

For Buyers:If you're financing, the most important thing you can do is focus on your monthly affordability — not just the interest rate. Can you comfortably afford the payment today? If so, you’ll be in a good position to ride out future rate changes or economic shifts. Remember, you’re buying a home, not just a mortgage rate. And if rates drop later, refinancing is always on the table.

For Sellers:If you're planning to sell and buy another home, understand this: while your current house may not fetch the same price as it might have in 2021, the home you're purchasing won't either. The important thing is to focus on your broader goals, not just the numbers on a sheet.If you’re considering cashing out entirely — especially if your home is in a flood zone — it’s important to evaluate your options carefully. In many cases, leasing the property might make more sense right now. It allows you to continue building equity while letting the market stabilize.

Special Considerations for Flood Zone Properties:If your home is in a flood zone, here’s some extra advice:

• Full transparency is crucial. Be upfront about any flood-related repairs, improvements, or insurance claims.
• Document everything. Having repair records, receipts, and inspection reports ready builds buyer confidence.
• Remember: full disclosure doesn’t scare serious buyers away — it helps them make informed decisions faster. You want buyers who move forward knowing the facts, not getting spooked halfway through.
• Leasing can also be a strong strategy here if you're not in urgent need of the sale. Depending on your financial goals, holding onto the property might yield better long-term benefits.

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Tips for All Home Sellers (Flood Zone or Not!):Because inventory is rising, it’s more important than ever to make your home stand out. Here's how:

• Get a pre-inspection. It helps ensure the home is ultimately insurable and ready for a smooth sale.
• Freshen things up. A fresh coat of paint, minor cosmetic repairs, and even light staging can dramatically improve first impressions.
• Price it strategically. In today’s market, pricing is an art. A good realtor won't just "list and hope" — we price to attract the best buyers and maximize your return.

The reality is, today's buyers are smart, cautious, and have choices. Selling now is about preparation, not panic. The right professional guidance can help you navigate the process and make the most of the opportunities ahead.And of course — if you ever want to talk real estate, market trends, or just hang out by the pool with my crew of Dobermans (Apollo, Ares, Athena, and our old lady Blue) — you know where to find me.Here’s to smart moves and sunny days in the Burg

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