Wow, what a difference a year makes. No, not a calendar year but an actual different year! 2007 vs. 2008. ’07 exited with a sleepy sigh as realtors around our area kepting checking their cell phones to ensure they were actually on. Mortgage brokers around the country took a holiday sabbatical and sellers received coal in their stockings.

But look out in ’08! Our office motto is “From Good to Great in ‘08” and so far, we are doing great. Why, you may so inquisitively ask? Personally, I have wrapped up deals and have made 3 offers in 2 days! My buyers are keeping me busy and my sellers are thanking me for bringing them offers!

But truthfully, it’s because of the blood and sweat from ’07 – the constant price reductions, the commitment to advertising, the endless Open Houses, etc.

So why are we seeing this tremendous upswing in activity? Here are a couple of reasons:

First, interest rates are fast approaching 5.0% - If one has excellent
credit, they can get sub-5% loans. They are the lowest in 4 years.

Also, Amendment 1 was passed on Tuesday. Essentially, it doubles the
homestead exemption and also allows homestead "portability" meaning
buyers who have a current homestead WILL NOT have their new property
re-assessed at full purchase price when they purchase, thereby allowing lower tax values.

Additionally, new home starts are at a 16 year low. The former Chairman
of the Federal Reserve, Alan Greenspan, has pegged our recovery at when the existing inventory of new homes begins to decrease and ultimately hits a historical low. It makes sense that less “NEW” inventory will buoy “EXISTING” inventory prices.

Finally, Moody's Economy.com has pegged Tampa Bay as the #1 area to
experience a v-shaped recovery. Read the article at
http://www.sptimes.com/2007/07/25/Business/No_1_spot_to_buy_a_ho.shtml

Just some things to consider. Buyers, now is the time to make that move. REMEMBER, BY THE TIME YOU START READING POSITIVE ARTICLES IN THE PAPER AND ON THE NEWS, THE RECOVERY WIL HAVE ALREADY BEGUN AND YOU WILL HAVE MISSED THE BOTTOM!

Get out there, find the beach home you have always wanted, and make the seller an offer they can’t refuse (sans the horse’s head). Rates are good, sellers are much more flexible, and inventory is relatively high – a triple treat for you!

Best of luck!