Tampa Palms, Westchase, Carrollwood and Tampa Bay Real Estate News From Jeanne Prigitano

Well, I don’t know how official it is but according to CNN, Fortune Magazine and a Deutsche Bank study (CLICK HERE FOR ARTICLE), Tampa is in the top 5 of all cities for home buyers. The criteria is based on whether it is better to rent or buy. There has been a lot of talk lately that people should rent instead of purchasing a home. That is based on “investment” scenarios. As I’ve stated before, there are many good reasons to own a home (August Blog –American Dream or American Nightmare). However, if looking at purchasing a home as a purely financial, Tampa housing affordability has made purchasing a home a better choice than renting.

Of course, not everyone can buy today because of a lack of down payment or low credit score. That’s why the rental market is strong. However, if you need to or want to and can, now is a great time to buy. I am encouraged when I see so many young first-time homebuyers. When the housing market was so hot, many first-time buyers were shut out. First-time homebuyers are a critical component of the housing market. Keep in mind that first-time homebuyers make it possible for those sellers to move up. With more affordable housing, these buyers are back in the market and isn’t that what it’s all about. Young people buying homes, raising families, and contributing to their communities.