1. Equity: When you pay rent, you never see that money again. It is lining the landlord’s pocket. Yes, buying a home may come with some hefty initial costs (down payment, closing costs, inspections), but you will make that money back over time in equity built in the home. Historically, homes appreciate by about 4 to 6 percent a year. Some areas are still experiencing normal appreciation rates. For the areas that have seen harder times since the recession, experts feel that the housing market will recover. Home ownership is about building long-term wealth. Homes in Florida will eventually go up in value again.
2. Relationships: Renters tend to see their neighbors come and go quickly. Homeowners, however, have yards, walking trails, or community pools and clubhouses where they can get to know each other. Neighbors stay put much longer (at least three to five years if they hope to recoup their closing costs). This means more time to develop relationships. Research has shown that people with healthy relationships have more happiness and less stress. Put down some roots for your family to enjoy for years.
3. Predictability: Well, as long as you have a fixed-rate term on your mortgage it’s predictable. Most people buying homes today know that a fixed-rate is the way to go. This means your payment amount is fixed for the life of the term. This allows for people to budget and make solid financial plans. The sub-prime crisis meant many homeowners with adjustable rate mortgages saw their monthly payments rise and then rise some more. Home ownership, though, generally comes with a predictable table of expenditures. Even the big purchases are predictable. You know most roofs last just 15 years (or so). You know that each year what you need to spend to maintain your home in good condition.
4. Ownership: Home ownership means you “own” your home. That comes with some incredible perks, though! You can renovate, update, paint, and decorate to your heart’s desire. You can plant trees, install a pool, expand the patio, or do holiday decorating. The bottom line is this is your home and you can personalize it to your taste. Most renters are stuck with the same beige walls and beige carpet and cheap kitchen cabinets and noisy neighbors that have been standard apartment decor for 20 years. Now is your chance to be creative!
5. Great Deals: It’s a great time to buy. Interest rates are at historic lows. We’re talking 4.0 percent instead of 6.0 or higher. This means big savings for today’s buyers. Home prices have also taken a dip since the recession, which means homes are more affordable than ever. If you have steady income and cash for a down payment, then be sure to talk to me about what homes in your area could be a fit for you. Home ownership can be a real joy. It’s time to get off the fence and into a home that is right for you! Donâ��t let this chance slip by. You must take action and call today to get started.

The market is definitely picking up. I wrote a contract for a newer foreclosure last weekend. 3 bed, 2 bath, move in ready for around $100k. Just found out they got 8 contract offers on it. Amazing….this reminds me of the real estate boom a few years ago.

According to the Tampa Tribune, multifamily buildings are now the hottest commodity in the local real estate market. The National Association of Realtors expects this sector to be the top performer in commercial real estate next year. Local experts attribute the rebound to an improving economy, a lack of new construction in the past 3 years and an increase in financially troubled buildings which are often priced to sell quickly. Landlords have stopped giving incentives to get renters. These incentives, such as a free month’s rent or $99 move in deposits are quickly disappearing.
I saw this first hand last summer when some clients of mine who’s house I short sold had a hard time finding a place to rent. Decent houses often were rented before we could see them, with multiple families submitting rental aps and deposits. Tampa’s slow down in construction of apartments is expected to make condos a good second choice for renters.

When ever I used to search for condos under $30k, a dozen per complex would turn up. Now I might find 3 active condos per complex. I have a few for sale on my website at www.tampahomesbestbuys.com

But prices are still falling. The tax incentive once again pushed real estate sales in our area. Some homes saw multiple bids on them as first time home buyers competed for the best deals at the end of the tax time frame. Overall prices are still falling a little, about 1%. Other areas of the country are actually showing increases in value. To get the latest value of your home, go to www.tampahomesvalues.com

You now have time to finish up a short sale purchase. I have dozens available for you to choose from. Pres. Obama extended it until April 30th.