If you are a first time home buyer, and are still sitting on that real estate "fence", this fall is THE time for you to make your move!  Here are a few reasons why:

1.  Property values in Tampa Bay are stabilizing.  In fact, according to the Greater Tampa Association of Realtors (GTAR), property values have stabilized starting in May 2008, and activity on home purchases have increased by approximately 1% each month.  This indicates that, in an effort to stabilize, property values are very unlikely to decline considerably and, in fact, are extremely likely to gradually increase.

2.  With the backing of the United States Government, the new conservatorship of Fannie Mae (FNMA) and Freddie Mac, the real estate market anticipates a sizeable rally to stimulate the market.  In do so, interest rates on mortgages and loan packages are expected to continue to decrease, making a home purchase a more attractive option.

3.  THe Federal Housing Administration (FHA) is increasing the loan limits.  This increase is only temporary, with an expected reduction to begin starting January 1, 2009.  Home buyers thinking of purchasing real estate should take advantage of this assistance this Fall.

4.  FHA will also be increasing down payment requirements to 3.5% starting October 1, 2008.  Prospective home buyers, if possible, should try to schedule property closings before the end of the month to take advantage of the current 3.0% down payment requirement. 

Remember, there are many good agents in Tampa Bay.  Don't settle for good...strive for greatness!  I am proud to take the extra steps, to go above and beyond for my trusted real estate clients.  For more information on the exciting changes in our real estate market, and to start on your path to purchasing your home with sound guidance and advice, please contact me at Www.TampaHomeWiz.com! 

It is my pleasure to serve you!

Brian C. Russell

"Uncompromising Excellence in Service"

Keller Williams South Tampa

Www.TampaHomeWiz.com

(813) 875-3700 ext 323