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There is so much useful information online to help you in the home buying process. Lately I have noticed two sites:

1. http://cgi.money.cnn.com/tools/mortgagecalc/

This site has a free online calculator which can be used to show an approximation of how much your mortgage payments will be.

2. http://money.cnn.com/magazines/moneymag/money101/lesson8/

This list shows some things you should know when buying a home. Notice #6 Get professional help:

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

 

We agree. Depending on your location/state you are better off with an exclusive buyer agent. In Florida when finding a real estate agent we suggest that you look for a realtor ® because they are required to follow a very strict Code of Ethics and we suggest that you have one working exclusively in your best interest.

If you would like to know more about how you can do this or exactly what to do please contact us and we will help you through this process.

* Please note that this blog does not serve as a binding contract. However we try to help those who read our blog and those looking to buy in the Tampa Bay area who have found our blog while surfing on the Internet.

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There are many festivals this spring in the Tampa Bay area.

Next weekend more than 7,000 spectators are expected to flock into downtown Palm Harbor for TNT Events’ second Springs Arts and Crafts Show.

This will be their second edition of the event. It has taken the place of a series of art another vendor presented in the community’s downtown historic district over the years.

Inverness-based TNT Events will present the arts and crafts show along Florida Avenue between 10 a.m. and 4 p.m. next Saturday and Sunday, March 21 and 22. The street will be closed to vehicle traffic during the event.

http://suncoastpinellas.tbo.com/content/2009/mar/14/pi-art-show-expected-to-attract-thousands/news/

Of course the following week is the Chasco Festival in downtown New Port Richey, Florida:

http://www.chascofiesta.com/Calendar

There are so many things to do in Florida.

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The average rate on a 30-year fixed mortgage slipped to 5.03 percent this week from 5.15 percent last week. A year ago, the 30-year fixed-rate mortgage averaged 6.13 percent:

http://www.freddiemac.com/pmms/release.html?week=11&year=2009&display=release

What does this mean? It is one of the best times to buy. If you have good credit and are looking this is one of the best times to buy in the Tampa Bay, Florida region.

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We recently posted the requirements of real estate agents in Florida and the differences between the term “real estate agent” and “realtor ®” in this blog post:

http://tampabayhomebuyerteam.com/tampabayfloridarealestateagent/real-estateagentsinlorida

The National Association of Realtors ® offers free, helpful information too:

http://www.realtor.com/home-finance/buyers-basics/home-buyers-basics.aspx

Note Step #2: Find a Realtor ®

Why?

Buying and selling real estate is a complex matter. At first it might seem that by checking local picture books or online sites you could quickly find the right home at the right price.

But a basic rule in real estate is that all properties are unique. No two properties — even two identical models on the same street — are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.

In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local REALTORS® who serve your area.

How do you choose?

In every community you’re likely to find a number of realty brokerages. Because there is heated competition, local REALTORS® must fight hard to succeed in your community.

The best place to find a local REALTOR® is from REALTOR.com’s® extensive listing of community professionals and properties. Other sources include open houses, local advertising, Web sites, referrals from other REALTORS®, recommendations from neighbors and suggestions from lenders, attorneys, financial planners and CPAs. The experiences and recommendations of past clients can be invaluable.

In many cases buyers will interview several REALTORS® before selecting one professional with whom to work. These interviews represent a good opportunity to consider such issues as training, experience, representation and professional certifications.

What should you expect when you work with a REALTOR®?

Once you select a REALTOR® you will want to establish a proper business relationship. You likely know that some REALTORS® represent sellers while others represent buyers. Each REALTOR® will explain the options available, describe how he or she typically works with individuals and provide you with complete agency disclosures (the ins and outs of your relationship with the agent) as required in your state.

 

Once hired for the job, the REALTOR® will provide you with information detailing current market conditions, financing options and negotiating issues that might apply to a given situation. Remember: Because market conditions can change and the strategies that apply in one negotiation may be inappropriate in another, this information should not be set in stone. During your time in the marketplace REALTORS® will keep you updated and alert you to each step in the transaction process.

Where to start?

We suggest that you read more about the home buying process whether it be online or offline.

For example, read “How to Choose a Realtor ®:”

http://www.realtor.com/home-finance/buyers-basics/how-to-choose-a-realtor.aspx

Then go to the Realtor.com website and scroll to the bottom right.

There is a box with the words “Find a REALTOR ®.” You can contact a few of them in your local area and interview them.

Or feel free to contact us. We are here to help.

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Map of Tampa Bay Area

The Tampa Bay area includes areas surrounding Tampa Bay.

It reaches from the Hudson and Bayonet Point areas in Hernando through Pasco Counties down to Manatee County which is south of Tampa.

It’s currently a buyer’s market where prices are reasonable.

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Home we recently sold in New Port Richey, Florida

We attended a closing on Monday for this beautiful home in New Port Richey. We won’t post the address since we value our clients’ privacy but it is a fabulous buy. Three bedrooms, two bathrooms, and a pool.

What I notice is that many people think that Florida home prices are “expensive.” Compared to Hawai’i home prices it is a fabulous buy. Being from Hawai’i and seeing the reaction of some people still amazes me but it is one of the best times for home buyers to buy. People have to live somewhere so they either rent… or they buy. This is one of those times when it’s a buyers market.

Especially for those looking to buy in Tampa Bay as well as First-Time home buyers… this is one of the best times to buy. Our clients are one of these people who know that it is a buyers market. There is so much inventory out there which means that it is one of the best times to buy.

We notice that while the national and local media seem to focus only on the negatives everyone needs to live somewhere. Therefore we and our clients are those who seem to focus on the positives. One common denominator among buyers in the Tampa Bay area is that they do their research, they ignore the biased media, and focus on finding a place to live.  Most buyers in the Tampa Bay area appreciate the various communities, beaches, etc and what that they have to offer. Tampa Bay offers beaches, sunshine, fresh water,  the Pinellas Trail and so much more.

We are working on future posts to help buyers choose a realtor ® in the Tampa Bay area because there seems to be alot of misconceptions about realtors ®. We are also working on several checklist to help you in the home buying process.

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Lately we have had many buyers stop by at our open houses. Recently we had an Open House at the Holiday Lake Villas in Holiday, Florida:

One Bedroom Villa in Quiet 55+ Community in Holiday, Florida

 This quiet community is a 55+ community with many amenities including a clubhouse and swimming pool. It includes a carport and storage space.  The listing price is $99,900 so it was not a surprise that seven buyers came to stop by.

Of course the local and national news seem to have a “gloom and doom” outlook but the reality is that people have to live somewhere. That is, people either buy… or they rent.

Right now is an ideal to buy in the Tampa Bay area. There are so many amenities and so many things to do. It is a great place to live.