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BENITA D. NEWTONHousing prices have increased, but job headhunters and others say the variety and quality of life in the bay area can make up the difference.
When financial analyst Jason Brand and his wife, Christine, began making plans to move back to Tampa after more than five years on Long Island, his first thought was what a great house they could get for $150,000 to $200,000.
"But now, knowing that the prices have been going up, we've rethought that," said Brand, 42. "Now we're looking at spending $225,000 to $250,000, and maybe more than that."
The New York home that the Brands bought in 1998 for $243,000 is on the market for $400,000, so when he and his family move to Tampa in June, they still think they'll be getting a deal.
More house for your money. That still is very much part of the Tampa Bay area pitch to potential new hires, said Steve Christie, manager of recruiting for finance executive placement company GSS Personnel Solutions LLC in St. Petersburg.
"On the whole, there are still wonderful opportunities to buy an affordable home here," he said. "People still look at us as a great place to be, especially if they're coming from places like Maryland and New Jersey, where the prices are high and it's freezing."
Between 1998 and 2003, the median home price in the Tampa Bay area rose 55 percent, from $89,300 to $138,100. The steep climb moved Tampa Bay from the 99th most expensive metro area in the nation to 64th, the second biggest leap nationally. Where the Tampa Bay area once was in line with Wichita, Kan., it now is comparable to Houston.
About 60 to 75 percent of the folks relocating from outside the state come from bigger markets such as Los Angeles and New York, according to Frank Ferreri, market vice president for Tampa headhunter Kforce. They are seeking refuge from long commutes and other urban drawbacks. Although transplants from bigger cities sometimes take a pay cut, Ferreri said, other financial factors come into play that make up for it.
"Overall, the housing cost has not been a deterrent in any way for any of the recruits we've worked with," Ferreri said. "They look at the housing cost as a part of the overall cost of living, which is still really good."
Despite the climb in housing prices, Ferreri said, the bay area has become much easier to market over the three decades he has been in the recruitment field.
"When I was doing this in the late '80s, we were just trying to sell sunshine," Ferreri said. "Tampa Bay has become a more mature business climate now, and it's creating a lot more opportunities that make it more attractive to families."
Reaction to housing prices in the Tampa Bay area is very dependent on newcomers' geographic location, said Alma Alexander, president of the Greater Tampa Association of Realtors.
"People that come from certain parts of the country, like the upper Northeast, Chicago, Boston, California, they find it incredibly affordable," said Alexander, a broker with Coldwell Banker Residential in Tampa. "When people from states like Alabama, Louisiana or Georgia come here, they are surprised."
People still are moving to the Tampa Bay area because it's a reasonable area to live in, said Alexander, who has been in real estate for 32 years. "They're not making any more land here, but there's still a tremendous influx into this area."
For many companies, there exists a tug of war between rising housing costs and the need to lower relocation expenses, said Daniel Bloom, of corporate relocation company Daniel Bloom & Associates in Largo. He said the biggest change he has seen in recent years is a decline in the practice of purchasing existing homes to help employees make a swifter transition.
"Some companies figure the Florida climate is enough to make up for the difference," Bloom said. "Well, it doesn't. With the way housing prices have gone up, companies have had to be creative to come up with ways to lower costs and still entice employees to come into any area."
But that problem is not unique to the Tampa Bay area, he said.
"The primary factor these days in a decision to move anywhere is whether or not the family is going to adjust to the area," said Bloom, who has worked in the industry for 20 years.
At Clearwater's Tech Data, the housing spiel has never really centered on price, especially since most of the employees they bring in from out of state are higher salaried executives.
"Our pitch is the variety of living environments available - you can live on the water or in a planned community or in a farming environment," said Lawrence Hamilton, human resources senior vice president. "You don't have all of those options in other markets."
Jeanne Glenn, relocation director for the Tampa Bay Area Relocation Council, said she recently handled a big company move from Dallas and encountered some sticker shock from some of the employees.
"There was one woman who just cried and cried because she didn't want to leave her home," Glenn said. "You can get a lot of square footage for a lot less money in some areas there."
But most people are also concerned with schools and culture and quality-of-life issues, rather than solely with housing prices, she said.
"It just hasn't been that much of a problem," said Glenn, who is relocation director for Re/Max ACR Elite Group in Tampa. "Of course, if they keep rising like they are now, that might be a different situation."
- Benita Newton can be reached at bnewton@sptimes.com or 727 893-8318.