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Has the Gulf Coast oil spill affected Tampa Bay real estate?

August 23, 2010

Tampa Bay FL beachesThis is a question I’ve been asked many times over the past few months. Has the oil spill out in the Gulf of Mexico had a negative impact on demand for real estate in the Tampa Bay area?

From what I know there haven’t been any reports of the oil spill reaching Tampa Bay beaches. At least not yet. Most of the oil damage was up in the Florida panhandle. Scientists are warning everyone that there is a tremendous amount of oil still to wash ashore and it could be years and years before we have any idea about the extent of damage to the environment.

With that said there has been a definite affect on the demand for waterfront real estate in the Tampa Bay area. Buyers for waterfront property have been much more reserved and cautious lately. Nobody wants to buy a waterfront home only to have the white sands and blue waters soon after closing turned into a tar field. This is a rational fear and one I’m not sure how to address. My advice is for buyers to do their homework and make their own educated decision on what they want to do. I share the same fears and cannot predict what will happen with the massive amounts of oil still out there in our Gulf. We can all only hope it doesn’t find its way to our beautiful Gulf beaches.

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Comments

3 Responses to “Has the Gulf Coast oil spill affected Tampa Bay real estate?”

  1. Trust Deeds on September 7th, 2010 9:37 am

    I have heard and seen of oil falling down as rain in Florida, but I’m not sure how true this news is. All I know is, that is significant. Clearly, the Gulf Oil Spill would impact all the beachfront property values, even if you can’t see any oil in the sea, because of the large amount of Corexit that they allowed to be dumped into the sea, and people would probably shun the beach for years to come.

  2. Oil Tycoon2003 on March 23rd, 2011 4:53 pm

    Why aren’t we hearing about this oil spill anymore? Is it really all cleaned up?

  3. Chris O'Connor on May 1st, 2011 12:06 am

    Good question. I was just talking to my wife about this subject a few days ago. Such a fuss was made of the oil spill, but now the media doesn’t make a mention of it. Is the spill 100% gone? If so how did it just vanish? Did BP clean it all up? If so wouldn’t they be on TV bragging about their accomplishment? Instead all I hear is silence.

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