Ok as we begin a new year many buyers still are looking into the crystal ball to try and find out if this is a good time to buy in the Tampa Real Estate market. Well me being in Real Estate and what I do for a living of course I am going to tell you it is a great time to buy, it certainly is not a sellers market, but what you should do is look at the facts and market conditions.
Is housing affordable? Yes When I say affordable I mean can you buy a comparable home and have a lower or equal payment in comparison to renting.
Are interest rates still low? Yes
Is the absorption rate down? Yes
Do you have a stable job? This is the key to whether it is a good time for you to buy. If you are secured in your employment and can afford it does make sense to buy in this market especially if you are a first time buyer.
What you are now seeing is investment opportunities for new real estate investors but unlike what caused the Real Estate bubble due to speculation the new investors are buying with cash and not borrowing with that easy money the banks were so willing to give out. The affordability of buying real estate with a high capitalization rate is spawning more and more cash investors.
First Time Buyer Program
With the extension of the first time buyer credit many first time buyers are going to take advantage of the government incentive program and receiving the $8,000 tax credit. The program also offers an incentive to move up buyers who have lived in their current home for five years or longer. For more information to see if you qualify for the tax credit
Will Tampa foreclosures still dominate the market? Yes as a matter of fact I am sure a majority of the homes for sale in Tampa this year will either be short sales or foreclosures.
If you are ready to buy in 2010 we would love the opportunity to help you in your new purchase and you can begin searching Tampa Homes For Sale today , if you are not ready yet we hope you continue to come back to our website to check market conditions as we will be consistently updating it throughout the year.
Wishing everyone a happy, healty, and prosperous new year in 2010.