Real estate once again starting to boom

10:42 PM, Apr 30, 2013   |    comments
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TAMPA, Florida -- Whether it's a high rise condo in the urban core or a stately home in the suburbs, experts say real estate is "bangin'."

"They're bangin', Charles. They're bangin' hard."

Realtor Bill Knecht knows. He sells Tampa Bay, and he's busy. New reports out today reveal prices nationwide are up an impressive 9.3 percent, and that indicates one thing.

"We're in a very fast paced market. Things are changing quickly.  What's true today was not true four months ago," he said.

"Now is the time to buy, especially if you're looking for financing."

Heather Brink knows how hot the market is. The home of her dreams almost slipped through her fingers.

Follow 10 News Reporter Charles Billi on twitter @Charles Billi

"We found our dream place. We were excited and were going to put an offer on it and in a couple days they called and said, 'You need to put in an offer now. There's a couple other offers, so be aggressive,'" said Brink.

Near-record low mortgage rates are driving up demand. That is leading to reduced inventory, which in turn leads to higher selling prices. So the deals are not just for buyers.

"We need more inventory, and it's a good time for sellers to sell," said Knecht.

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