TAMPA, Fla. – A leading real estate website, www.realtor.com, reported in April 2025 that three Florida cities should expect price declines in housing this year. Real estate data and information for the report were obtained from Cotality (formerly CoreLogic), a real estate analytics company.
Tampa, Winter Haven, and West Palm Beach were targeted for housing price drops this year, which a Florida-based mortgage company says is already in the works.
“I’m witnessing a home buyer’s market already in the Greater Tampa area,” said Gerald Bliss, CEO of Bliss Mortgage, licensed in Florida and Colorado. “Home sellers are facing fewer buyers, which is motivating them to pay closing costs. Smaller homes are rising in the city’s inventory, and some home investors are selling their properties below what they paid, helping to ease prices and increase availability.”
However, while this is good news for homebuyers, the general public has become increasingly disgruntled with the mortgage industry.
J.D. Power and Associates, a global leader of consumer insights, conducted a 2024 national home buyer’s survey. It reported a decline in satisfaction with mortgage brokerage firms. Survey participants cited their mortgage experience as “transactional” with little or no personalized advice and education.
Bliss was asked for his reaction to the survey.
“It’s important to evaluate the mortgage expert with whom you are talking,” Bliss said. “Home buyers should expect a mortgage broker to invest time to explain how home mortgages work and show that they value knowing the concerns and questions home buyers have. A conscientious mortgage broker will ask if you are a first-time home buyer or have not purchased a home in several years, indicating you need information on lending practices or changes. It’s best to sign on the dotted line after you’re certain your questions are answered and your interests are met. This is how we’ve achieved the trustworthy reputation we have today.”
Bliss recommended that homebuyers pursue mortgage brokers with a full range of loan options. He said, “Mortgage brokers with limited options can put pressure on home buyers to purchase a loan that isn’t suitable for them. They also may not have adequate post-purchase home loans that homeowners will need in the future.”
Bliss indicated that a home buyer may plan to immediately remodel a garage or kitchen in a newly purchased home, or upgrade later. A home buyer may need a cash-out refinance arrangement in the future or want a higher-priced home that qualifies for a JUMBO loan. Even a reverse mortgage may make sense at some point. Between Conventional, FHA, or VA loans, you may want a fixed or adjustable mortgage. Perhaps a home buyer is retired or self-employed and needs someone who is an expert in handling loans under these circumstances.
“We carry all these loans, which are outlined on our website at www.blissmortgage.com. An abundance of loan options makes it easier for home buyers to avoid shopping for a new mortgage expert every time they have a need,” Bliss said.
Bliss was asked about the mortgage advice he would give to condo buyers.
“To qualify for a condominium purchase, the Home Owners Association must be scrutinized, as well as the buyer. Lenders evaluate an HOA’s property upkeep as well as its occupancy rates. This means more is required beyond a buyer’s credit history and debt-to-income ratio.”
Bliss also advised homeowners seeking a remodeling loan.
“Because remodeling contractors tend to bid low to secure more contracts, a contractor’s consultant should be hired to ensure the remodeling loan amount will be enough for the project’s actual expenses. A contractor’s consultant ensures your remodeling expenses do not exceed more than 10 percent of your initial quote, which gives lenders greater confidence with your project.”
Over the last 83 years, only six years have seen declines in housing prices. Bliss said that getting a good price on a home now, with an expected average annual appreciation of four percent based on historical data, makes for a good real estate investment.
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