Lutz, Florida -- The new homes in Pasco County are being bought as fast as they're being built, and some even before they're built.
"If there wasn't a demand for their houses they would not be building them," said Carl Stratton, who is a broker and general manager at Dennis Realty in Lutz.
Stratton says the latest numbers, according to our partners at the Tampa Bay Times, put the Tampa Bay area 4th in the nation for all cash sales aren't necessarily bad.
"I think there are still are investors buying houses. There are a lot of houses in disrepair that can't get a loan for so you have to pay in cash," said Stratton.
Stratton says it's not just the hedge fund investors taking advantage of the properties. The buyers also are the folks up North buying their second home in the Bay area taking advantage of cash-only deals.
"I think there are a lot of baby boomers and retirees buying down here right now. A lot of them have cash and their bringing that to the market," said Stratton.
"I never thought we would be able to," said Rita Campbell, who just closed on her new home. A first-time home buyer at 57, Campbell says it was a dream come true.
"We just didn't think we could ever have a home and it came true. I couldn't believe it, it's surreal," she said.
"I think this is a very positive thing for the real estate market," said Stratton, about the new homes being built.
With all the real estate on the market and homes still being built, Stratton says the value is now because prices are only going up.
"It's a bargain, you know, folks are coming here and getting a lot more for their money in Tampa Bay. It's a good time to be a real estate agent," said Stratton.
