Thursday, April 5, 2012

Home Ownership - Still Preferred Over Renting

Do you ever hear someone say, “One day I wish to rent my very own home”? It doesn’t happen! It simply doesn’t exist. Most people today think owning a home makes far more sense than renting a home! In fact, 70% current tenants believe that home ownership is something they definitely would like to be a part of. Many consumers still value the idea of calling a home their own. Fannie Mae’s last quarterly National Housing Survey showed that the desire of home ownership among many Americans still strongly exists. Their findings were quite interesting and may be applicable to the way you feel about purchasing a home. Across a wide range of demographics, the belief is held that owning real estate is preferred over renting real estate. Factors such as school districts and safety were also reasons that influenced viewpoints of home ownership. One would question if so many people want to own, why don’t they? Financial hardships and confusion about the mortgage lending process is cited as being the top two reasons why renters are still holding out. Tenants generally are more likely to cite bad economic times as reasons why they have not stepped up to the plate and explored their mortgage options. Tampa’s home sale inventory saw a decrease from February to March this year as mortgage rates are still at an all time low. Trulia reports that median listing prices have seen an increase of 10% from this time last year. It continues to sound like the market is taking a turn in the right direction, especially for those 70% of people who wish to call themselves home owners. If you would like to have a conversation about how you can own a home, we are here for you to do just that. Being informed and educated on all of your options is the first step to home ownership. Contact us today to ask how you can relieve yourself from the 70% group of people who wish to own a home. SI Real Estate offers highly personalized multilingual, full-spectrum real estate purchase and sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!”