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

Many, including me, have been saying that it is definitely a buyer’s market in the Tampa Bay area. The interest rates are low and there are lots of “affordable” choices. Unfortunately, many potential buyers are not in a position to buy because of a less than stellar credit score or lack of a down payment. The next logical choice is to rent.

In last week’s St. Pete Times Business Section (November 28), there was a very interesting article by Mark Puente. In this article, Mr. Puente decided to rent a home and soon found that a buyer’s market did not bode well for renters. Many of the houses were in poor shape. Others have been purchased by cash buyers or those with good credit scores. Available rental properties go quickly. I personally called on 10 properties for a potential renter to find that only one remained available and we better get there fast.

What is a buyer to do? If your credit score has taken a hit or you don’t have a down payment but have a job and would eventually like to own a home, Lease To Own may be the answer. Please read my blog post (www.TampaHouseHunter.com/blog) of November 8 on this innovative program. It could get you into a beautiful home that you will eventually own and you won’t have to worry about being evicted because the owner hasn’t paid the mortgage. If you are a Seller, this could be your answer as well. Your house expenses will be covered, the house will be maintained, you have a buyer, and the rent is guaranteed for 18 months.

The Tampa Real Estate market has changed. We need some innovative programs to help stimulate the economy and provide options. I love putting buyers and sellers together. As a Certified Lease To Own Agent, I may be able to help.