Just last month, December 2007, almost 2,000 homes were sold in Tampa Bay area averaging at $197,000, this was a decline from over 3,000 homes sold the same time in 2006 and indicates a 38% decrease as well as a 6% decline in the average price. Tampa Bay real estate buyers were spoiled for choice with 41, 602 homes available on the market and only 5% of these homes sold in December translating into a inventory of 21 months!

If you take a look at listings for Waterfront area, you'll find a ½ acre lot on the Hillsborough River listed at around $400,000. Consider that when realty was hot in the area, the same plot could have easily attracted $550,000 to $600,000 and you have a great opportunity here because we all know that there aren't going to be any new waterfront lots in Tampa Bay area. Adding fuel to the fire is the announcement that The City Of Tampa is going to get a reshaped waterfront providing access to everyone in the form of Tampa Riverwalk, which will be a long pedestrian walkway connecting Channelside to Tampa Heights.

Could be a better time to be a buyer? From water front lots to condos in Hyde Park and Channelside, you can pick the home or plot you want and negotiate further from the already aggressively priced offers. There is no better time to realize your American Dream than now. If you are a Baby Boomer or seeking to make an investment for your retirement, consider doing it NOW! Buy low and sell at a high price (if you want to).