From the Publisher

Why buy now? Lots of reasons, but here’s a new one: In some cities, including Tampa, it’s roughly the same monthly cost to buy than it is to rent. That’s right. You can build equity and have a home of your own for less per month than it costs to rent.

That hasn’t been the case in 30 years. But it is now, and we’ve got the numbers in a special section called Smart Moves in this issue. As if you needed more reasons to take the plunge, here are a few:

• You can get a good deal. It’s a buyer’s market and prices have come down a long way—about 30 percent from their peak. Most experts now say homes have fallen about as far as they’re going to, and have now reached fair value versus household income.

• Mortgages are cheap. You can get a 30-year loan for around 4.3 percent. These are the lowest rates on record. As recently as two years ago they were about 6.3 percent. That drop slashes your monthly payment by a fifth.

• You’ll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you’ll get a tax break on capital gains—if any—when you sell.

• Sooner or later, the market will clear. The population is forecasted to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, the housing glut will work itself out.

So, enjoy this issue. And if you’ve been waiting to buy a home, check what’s on the market right now. I think you’ll be pleasantly surprised.

KIM HANNIGAN
Publisher
kimh@florida-homebuyer.com