The Ticking Clock

While the amount one can spend on a month’s rent versus a mortgage payment is important, it is actually time which matters most. If one is expecting to stay in one place for a very short amount of time, then renting makes economic sense. However, since rents rise with time and mortgage payments do not, the longer one stays in the same place, there is less economic benefit to renting. A break-down chart of this can be seen here.

There is more to the equation than just time and monthly payments. Another important factor is what you are giving up and what you are gaining from renting vs. buying. It is often said ‘why rent and pay someone else’s mortgage?’ when you could be accruing equity in your own home. On the other hand, owning your own home means a variety of associated costs and responsibilities for maintenance, repairs, and landscaping to name just a few.

Renters, on the other hand, do not have to pay these housing costs since their landlord owns the building. This chart shows many of the advantages of renting when it comes to things such as repairs and property taxes. Yet while renting is seen as temporary, there is a risk in accepting long-term rental agreements with stiff penalties for leaving early. Additionally moving from rental to rental has many hidden costs such as first and last rent up front, deposits, renter’s insurance, the costs of the move, and having to change one’s utility accounts and address. These costs are often not considered in the initial rent vs. buy decision.

The Decision

The choice or renting or buying comes down to time and freedom. If you will be moving fairly soon – within a couple of years or so – renting is more than likely your best option. But if you are planning to be in one location for at least a few years, it makes sense to look into buying – and we may not again see a market with housing and borrowing costs as low as they are now.

Visibility

There are many free websites like Craiglist or ForSaleByOwner at which you can list your home for sale, and you can even take advantage of busy street corners and people passing by your home that give your sale visibility, but is this the best option? Hiring a Realtor means your home will be added to a database viewed by potentially tens of thousands of potential buyers each day. The visibility from a free website might attract a buyer who knows more than you do, including how to work the system, which can prevent you from getting a fair price on your home for sale. You will also get a flood of phone calls which will likely include people who aren’t always the most sincere. Realtors have the tools and time to help you market your home effectively and attract the type of buyers you want. 

Disclosure

You may save a few dollars on the commission when you list your home for sale by owner, but not having representation from a professional real estate agent means less disclosure and bargaining. Often times it is better to have a Realtor help you do the bargaining and get you the best price for your home. An agent can help you negotiate a contract specifically tailored to your situation so you get the most out of your sale. Hiring a Realtor also means that you get the best disclosure options on your home.

Buying Time

With many people’s family obligations taking up a majority of their time, they simply don’t have the time to market a home to potential buyers. A real estate professional is paid to help you market your home with expertise – and will use modern online tools – to as many buyers as they can reach.

These are just a few of the reasons why you should NOT list your home for sale by owner. Do your research and ask around for qualified agents before putting your home on the market.

Held at the St Pete Times Forum, the stadium seats a maximum 20,000 people and is expected to draw at minimum twelve to fifteen thousand journalists not counting the thousands of delegates and politicians.

Transportation

Just seven miles from downtown, Tampa Bay International Airport offers hundreds of non-stop domestic and international flights. A variety of smaller airports are served by Tampa International including the St Petersburg-Clearwater International Airport (Tampa’s second largest airport) and a Peter O. Knight Airport. A variety of rental car companies and motor coach opportunities are available. For those travelling alone, there are a variety of rental car companies or they can grab a ride in a taxi, street car, or trolley to get downtown and to the outlying areas. 

Entertainment

Delegates and visitors to Tampa have plenty of entertainment opportunities to take in during their down time. A trip to Busch Gardens is certainly worth putting on the agenda along with a trip to the Florida Aquarium. Art lovers can check out the Museum of Fine Arts in St Petersburg or The Tampa Museum of Art.

Tampa also hosts more than 200 public parks and 35 private and public golf courses for a round or two of golf.

Accommodations

World-class hotels and dining options await the visitor to Tampa with prices ranging from affordable to extravagant. The iconic Don Cesar Hotel is right on the beach and is just a short drive to Tampa and offers a luxurious and pet-friendly environment. The Don Vincente offers a unique boutique hotel setting and comfort for the weary traveler. There are also a variety of well-known hotels in Tampa and local bed and breakfasts.

For dining options, Tampa has everything from steakhouses to local food and everything else in between. Berns Steakhouse boasts the largest private wine list in the world. The iconic Taco Bus serves up quality street food at good prices.

While the Republican National Convention will be the highlight during the last week in August, there are still plenty of opportunities to choose from in Tampa whether delegates are entertaining (a.k.a., politicking) or just taking a stroll along the waterfront.

Before you go, here are a few things to consider:

Rentals

If you’re not familiar to the area, it is recommended you start your search by renting a home or condo before making a decision to buy. There are a variety of real estate services in Tampa to assist you in finding the best location and home for your money. 

A variety of websites and communities are set up online to help Florida snowbirds adjust and plan their time away. They offer advice and feedback along with rental listings. Rentals are available on the beach, on the golf courses and come with a variety of amenities like swimming pools, community centers and some of them are even fully furbished. There are a variety of mobile home and RV parks for the snowbird and worth checking out.

Second Home

For many, buying a second home in either a retirement community or just by itself is always an option. The median housing price in Tampa dipped in early 2011, but it’s slowly inching back up again. Now is the time to buy a second home as the market is slowly gaining strength. A qualified realtor can help you find the perfect second home that meets all of your needs.

Amenities

As they get used to the warmer climate and consider buying or renting a second home, snowbirds must be aware of the services and amenities they will need while away. For many who fly to Florida, proximity to a major airport is the starting point. Tampa Bay International Airport is just seven miles from downtown and has hundreds of domestic and international flights. There are also a handful of smaller airports in Tampa which serve corporate and private flights.

Trolleys and street cars take visitors around downtown Tampa and there are a variety of taxi and private rental car companies to choose from.

Health care access is another factor that matters to snowbirds, who are typically older citizens. With a population of just over 335,000, many top-notch hospitals and clinics serve the Tampa area including those that specialize in care for Canadian travelers.

The Rooftop Eve

Have a great time and benefit a great cause at the same time. Rooftop Eve transforms the 4th floor of a parking structure in Hyde Park Village in Tampa into a lavish, shimmering scene filled with live music and entertainment and dancing. It's a stylish way to greet the new year! Rooftop Eve is sold out for this year,  but 98.7 radio will be offering the chance to win 3 pairs of tickets through Friday the 30th. Rooftop Eve is a fundraiser for Heartbeat International Foundation, Inc. which provides implantable devices and treatment to needy people. Cardiovascular disease is the #1 killer worldwide, and Heartbeat International Foundation is strategically placed to help as many people as possible.

www.therooftopeve.com

New Year's Eve at Busch Gardens

Busch Gardens knows how to put on an event, and this year's celebration will be no exception. The event will have special musical entertainment featuring Clint Wiley's None Other, DJ's, and a midnight fireworks show. Rides will be offered throughout the evening. Admission to the New Year's Eve celebration is included with every paid Busch Gardens admission.

Click here for more information.

First Night - Downtown St. Petersburg

First Night in St. Pete sees its 18th annual New Year's Eve celebration with "music, dance, fire, bubbles, stories, creative fun, fireworks and much more!" (www.firstnightstpete.com) This family-oriented event will be a blast for everyone.

Ice Hockey: Tampa Bay Lightning vs. Carolina Hurricanes

Catch some hockey excitement a few hours before the clock strikes midnight! Watch the Lightning battle the Hurricanes in NHL action at the St. Pete Times Forum. The puck drops at 5:00 for this one. After the game, many in attendance will find their way to Channelside where thousands of people will enjoy a fireworks show to ring in the new year.

Visit the Lightning's official website.

The Outback Bowl (Jan. 2)

The Outback Bowl this year features the #3 teams from the Big Ten and Southeast Conferences, Michigan State and Georgia. The game kicks off at 1:00 p.m. at Raymond James Stadium. Georgia's Bulldogs are favored by 3 points over the Spartans from up north.

Here is the Outback Bowl's website.

The good news? With less competition from other buyers, first-time homeowners now have a wider selection of properties to choose from and more time to find a home (and a home loan) tailored to their budget. However, given the shocking rate of mortgage fraud in Florida, underwriting criteria has become more stringent, making it difficult for potential owners to receive financing.

Unemployment rates dropped statewide from 11.9% in January to 10.7% at the end of August – but are still higher than the national average. Although market analysts predicted a steady decline in home prices due to a market flooded with foreclosures and a limited pool of available buyers, Florida home prices have fluctuated from month-to-month this summer meaning homeowners should not give up on getting a fair price.

Despite statewide market trends, home prices in Tampa rose 6% from July to August in three counties. Meanwhile, the investment outlook is mostly positive across all property types, but particularly in apartments and warehouse type properties. In order to get the best price in a vacillating market, buyers and sellers need to team up with their agents. Our office is standing by to help you buy or sell your home, so call today!

Mortgage fraud comes in many guises; from accidently entering erroneous financial information on applications to elaborate “shot-gunning” schemes. Criminal buyers who intentionally defraud financial institutions and buyers who fudge a little will meet the same set of consequences. And, although Florida’s mortgage fraud has taken center stage for four years, that doesn’t mean lending institutions are entirely innocent. So, buyers and sellers need to be wary. Unethical parties – agents, lenders, appraisers, buyers, etc. – will misinform, bully, and lie to con their way into a large sum of money. How do you, as a first-time home buyer or seller, arm yourself against these criminals? First of all, never sign an unfamiliar document. Conduct your own Internet investigation and keep tabs on the people with whom you do business. Consumers can learn more about potential mortgage brokers by visiting the Nationwide Mortgage Licensing System & Registry. Simply enter the names of individual brokers and check out their professional histories, disciplinary records and the states where they are licensed. Soon, you’ll be able to access information on bank mortgage loan officers through the NMLS site.

With the advent of the internet, our generation of home buyers and sellers can research virtually any aspect of the home buying process. Zoning laws, lending rates, market trends . . . the amount of information you can access can be overwhelming at times. As the saying goes, there is no such thing as a stupid question, so do not hesitate to ask us about anything!

Tampa Bay Veg Fest offers games and activities for kids, such as yoga, puppet shows and more. This year’s entertainment lineup includes healthy-living advocates Dr. Milton Mills and Roberta Kalechofsky, as well as Hollywood veterans Ellen Jaffe Jones and comedian Carol Leifer. Given the success of last year’s event and that of the Central Florida Veg Fest, event officials are predicting an even greater turnout for 2011. For you eco-conscious entrepreneurs, this is the perfect venue for showcasing green products or services while networking with like-minded business owners. With live music and special guest speakers, the Tampa Bay Veg Fest will be the fall shindig you don’t want to miss!

There are plenty of events to keep members and guests entertained throughout the year, as well as classes for animal lovers and an interactive Pre-School and Early Education programs offered through “Zoo School.” Lowry Park began as many wildlife conservation efforts do: as a small, localized effort to connect citizens to the plants and animals native to the area. Over time, the Lowry Park Zoo acquired more animals and joined the global effort to protect endangered wildlife when General Sumter L. Lowry, Jr. brought Sheena, a young Asian Elephant, to the zoo in 1961.

As an accredited member of the Association of Zoos and Aquariums, Lowry Park maintains rigorous set of operating standards that are both sustainable and conducive to species repopulation. (Surprisingly, over 90% of licensed wildlife exhibitors in the U.S. are not accredited by the AZA.) The Lowry Park Zoo is a world-class animal conservation center that you and your family will love visiting, rain or shine, just minutes from your home in Tampa Bay.