My New Blog

According to a 2008 Florida Association of Realtors Buyer Motivation Survey, buyers are motivated to "get off the fence" by price decreases, low interest rates and concern that rates will move up, all of which we have right now.

People don't want to pay too much, but they also don't want to miss the chance of a lifetime.   They need assurance that now is the right time to buy . . . . and it truly is.

Owning a home provides the advantage of an income tax deduction of the interest and property taxes, the monthly amoritization of the mortgage and the long-term appreciation.  Add to that the $8,000 first-time buyer federal tax credit, and it could actually cost more to rent than to own, which can amount to thousands of dollars lost in a year's time.  And, for the first time the state of Florida and FHA are allowing first-time homebuyers to use part of the $8,000 toward a downpayment.

The market is challenging.  While dropping, inventories are still much larger than they've been in years, and it takes longer to sell a home.  People are afraid to make a bad decision.  They've seen the value of their retirement funds and stock market investments decline by 40% in one year.  People aren't spending money as easily as they once did.

However, they still want to earn more than they're earning now.  They want to live better lives, and they want help in making good, sound decisions.  Real estate is still the best investment . . . . period.  Whether it's the home you live in or the rental home you provide for someone else, real estate is the best investment going.