Tampa's Proposed FY 2009 City Budget

Tampa Florida's mayor, Pam Iorio, it seems to us, has performed a balancing act with her proposed budget for fiscal year 2009 running from October 1, 2008 to September 30, 2009.

The mayor's summary of the budget states that her proposed 2009 budget invests in Tampa's quality of life, including initiatives that affect neighborhood life on a day to day basis by promoting safe, clean and attrative neighborhoods, creating a downtown residential setting, making regional mass transit a reality, and promoting Tampa as a "City of the Arts." Offsetting these investments, the budget holds the line on recurring costs, especially personnel costs, since the city can no longer count on the big annual increases in property tax revenues it enjoyed in past years.

The overheated real estate market which has fallen dramatically, has impaired the flow of increased property tax revenues. In addition, the State of Florida legislature passed mandatory tax cuts and Florida voters approved a constitutional amendment doubling the homestead exemption.

To cover these decreased revenues, the mayor has eliminated more than 380 city positions in the last 2 years and, hopefully, offset those staffing reductions with improved efficiencies in the way the city government operates.

Even with the mayor's proposed cuts, the $836 million budget still represents a 9.8% increase over the FY 2008 budget, due mainly to funds for her proposed infrastructure improvements. Tampa City Council will now have to review, and amend or approve, the mayor's proposed budget.

In the judgment of many, Mayor Pam Iorio has proposed a FY 2009 budget that keeps the city of Tampa moving ahead while adjusting to the new realities of reduced city revenues.

If you would like to know more about Tampa and Tampa Bay, Florida feel free to call me directly at (813) 263-6806, E-Mail Me or visit my Tampa Florida Real Estate website. I'd be delighted to be of service to you.

Should You Buy Now in Tampa Bay or Wait

5 GOOD REASONS TO BUY NOW

1. Prices in the neighborhoods you prefer are currently relatively stable -- either holding steady or increasing slightly, or, -- the pace of price declines has slowed dramatically meaning the major decline is over. If you are ready to move, the small penalty you might pay by missing the absolute bottom of the market may not mean much.

2. You plan to stay in the home for five years or more. If you plan to stay that long before selling, leading economists say you will probably have gotten beyond this price downturn and you'll come out ahead on price when you sell the home.

3. Your rent is relatively close to what your mortgage payment would be. If you qualify for a mortgage, you will be building equity in your new home and you will be able to deduct the mortgage-interest and property taxes on your federal income taxes.

4. You've found the perfect home in the right area. The schools are great. You know it will be hard to find another home as nice as the one you have your eye on. In a better housing market, you might have much more competition for that home and end up paying more for it if its even available at that point.

5. You've built equity in your current home and are moving to a place where homes prices are lower in a market where your money will go a lot further.

5 REASONS TO WAIT BEFORE BUYING

1. If you have lived in your current home for less than 2 years, there is a good chance that you haven't accumulated any real equity in your home. In fact, you may have negative equity, (you owe more on your mortage than the home is now worth) if you live in certain areas of the country.

2. Your job isn't secure. If you may get laid off or lose your job altogether, it's better to stay where you are until things improve. If you lose your job and have to move some distance, it'll be much harder to come out ahead selling a home you just bought.

3. You don't plan to stay in your next house for at least 5 years. While it's not important to buy at the exact bottom of a home price curve, it is important that you stay long enough to ride out the cycle. Prices will certainly recover but it may take a few years.

4. You don't have good credit or a sufficient down payment. Because of the sub-prime mortgage mess, lenders are more careful today about who they'll give a mortgage to. Speak with a number of lenders about different programs they offer, but don't be surprised if you are turned down completely.

5. You have an existing home to sell in an area where prices are still falling or where many homes are in foreclosure or already bank-owned. In such a "distress sale" neighborhood, your buyer prospects may be just "bottom-feeders" looking to buy a home well below its real market value if the market were in a normal situation.

For more information on Tampa Bay real estate opportunities, I invite you to visit my full Tampa Bay Florida Real Estate website and then call me at (813) 263-6806 or email me at cheryl@cherylstimac.com
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What Is a Buyer's Agent, Why Would You Want One

First, let's define the roles a real estate agent can choose to play. Licensed Realtors®, by law, can act in a number of roles. A real estate professional acting in the role of a Listing or Sellers Agent represents the Seller and is obligated by law to help the Seller get the best price and terms.

A Realtor acting in the role of a Buyers Agent works for the Buyer and must
legally and ethically look out for the Buyer's best interest, not the Seller's.

Some Realtors act as either Sellers Agents or Buyers Agents exclusively. Other Realtors have the knowledge and experience to provide service to both Buyers or Sellers, but with few exceptions, on any given transaction, they can act only in one of the roles. Either they represent the Seller or they represent the Buyer, not both
at the same time for that would present a conflict-of-interest.

In some states, including Florida, real estate agents can act in a special role called various things but most commonly, as a "Transaction Broker". When acting in this role, the Realtor must declare to you that he or she is acting in that role and is, in fact, representing neither the Buyer nor the Seller but simply acting as a "facilitator of a transaction."

In general, you, as a buyer, are best served by a Realtor acting specifically as your Buyers Agent.

The details of buying a home can be overwhelming. A professional Tampa Bay real estate Buyers Agent can guide you through the entire process and make the experience much easier, less frustratiing and more enjoyable. And buying a home should be just that -- an enjoyable experience.

- A Buyer's Agent can advise you on many important considerations about a neighborhood you may be considering...the schools, children in the area, traffic volumes, etc.

- He will help you determine the price home you can afford and search the Tampa Florida Multiple Listing Service for homes that fit your needs and affordability. Ther are few things more frustrating than viewing homes you cannot afford.

- With access to homes as soon as they’re on the market, your Buyers Agent schedule a tour of every home that comes on the market tha fits your situation saving you time wasted driving around looking at homes from the outside that don't fit your situation anyway.

- He or she can screen homes on the market to assure they're reasonably priced and in good condition before taking you to see only those in your price range with the amenities you want.

- Your Tampa Florida realtor will point out ways to structure the deal to save you money, explain the advantages of different types of mortgages, guide you through the paperwork, protect your interests during inspections, and answer any questions as you make an offer, negotiate the final price and sign the closing papers.

In most instances, you don’t pay your Buyer's Agent anything at all for all these services. Payment for all the work a Tampa buyers agent does for you comes from the home seller under the terms of the listing contract.

Remember, if you see a home in a Tampa newspaper, real estate book or on the Internet, and you contact the Realtor in that ad, you're calling the Listing Agent,
who is looking out for the Seller, not you. If you want someone looking out for your interests, not the Seller's, you want the services of a Tampa Florida Realtor acting as your Buyers Agent.

So, how do you find a Buyers Agent in the Tampa real estate market? It's easy! Just ask a licensed Tampa area Realtor if he or she is willing to act as your "Buyer's Agent. He or she will most likely be happy to provde that service.

And why use a Buyers Agent A Buyers Agent Realtor looks out for your interests and desires, in most cases, at no cost to you. A better question might be, "Why not use a Buyers Agent since it generally costs you nothing.".

Florida Set to Restore Everglades with Massive Project

An area of Florida with 300 square miles land may be returned to its natural state over the next decade.

U.S. Sugar, currently the largest producer of cane sugar in the U.S. is negotiating with the State of Florida to go out of business and for $1.7 billion, sell its 187,000 acres of land plus its refinery and other assets to the State of Florida as part of the state's plan to restore the Everglades. This plan was announced jointly by Florida Gov. Charles Crist and U.S. Sugar CEO, Robert Buker.

While negotiations are on-going and subject to approval by both the State government and the board of privately-held U.S. Sugar, officials hope to have a final agreement in place by September, 2008. Under that agreement, U.S. Sugar would be allowed to farm the land for 6 more years and then shut down operations. At that point, a very important 187,000 acres of land south of Lake Okeechobee, currently in use by U.S. Sugar, will be used to help restore the wetlands that support the Everglades.

That land is the virtual heart of the ecosystem which supports the Everglades and can be used to restore a more natural flow to the wetlands that has been restricted and diverted for years by agricultural and other development.

Jeff Danter, The Nature Conservancy’s state director, called the potential deal “an unprecedented opportunity to completely rewrite the course of Everglades restoration.” Frank Jackalone, of the Sierra Club, applauded the move saying, "If they can restore the flows, it can correct what's happened over the past 60 years."

The restoration effort will be the largest of its kind in the world. Returning the land to its natural state, including rerouting water from flood control projects, will help cleanse water flowing south from Lake Okeechobee into the Everglades filtering out fertilizers plus other industrial and automotive pollutants.

The plan calls for the state of Florida and the U.S. Government to be equal 50-50 partners. Florida so far has committed over $2 billion, while the Federal government has spent only several hundred million dollars. Congress authorized $1.8 billion for Everglades projects in 2007, but the money has yet to be allocated.

U.S. Sugar employs 1,700 people all of whom who will lose their jobs. But, U.S. Sugar has been under financial pressure for some time from lower-cost sugar imports. The State of Florida plans to offer job-retraining to the displaced employees. Closing down U.S. Sugar will not, however, completely end sugar production in the Everglades ecosysem. About 300,000 acres used by other sugar growers will remain in production.

Are You Ready For Hurricane Season ?

Well, It's June 1st and the start of hurricane season not only in Florida but all over the Southeastern coast of the United States.

Are you prepared to protect yourself and your family in case of any serious incident ? It's always better to be safe than sorry. You may want to take a few minutes now and read this Hurricane Readiness Article.

If you are interested in moving your family to the Tampa Florida or Tampa Bay area, or if you need to sell a property anywhere in Hillsborough or Pasco County, Florida, I invite you to visit my Tampa Florida real estate website.

Before you Buy That Florida Condo

Before you make a firm offer to buy a condominium in Tampa Bay, Florida, regardless of whether its a normal transaction or a foreclosure-related short sale, you need to know what else is involved other than its availability, condition, and price.

You need to gather and understand a fair amount of information other than just its availability and price. Read this article about Questions to Ask Before Buying a Condo and then call me at (813) 263-6806 or email me at cheryl@cherylstimac.com

For more general information on Tampa Bay real estate opportunities, I invite you to visit my full Tampa Bay Florida Real Estate website.

Welcme to Tampa Bay Florida

Tampa Florida is the "heart" of Tampa Bay, an ideal hometown for young families and retirees alike. Tampa Bay's weather is delightful. The average year-round temperature is 72°, a refreshing 60° in January and an average of 82° in August.

Our phenomenal weather fosters an abundance of outdoor recreation. The Hillsborough River, stretching 56 miles, offers fishing, canoeing, and boating. There are numrous camping areas and hiking trails as well as nearly 200 parks, 136 picnic areas and 80 playgrounds. There are swimming pools, tennis and racquet ball courts, and dozens of golf golf courses as well as professional baseball, hockey and football teams including the Super Bowl-winning Tampa Bay Buccaneers.

Lovers of art, music, dance and theater enjoy a wealth of galleries and museums like the Tampa Museum of Art, Museum of Science & Industry and University of South Florida's Contemporary Art Museum. Broadway musicals and operas excite patrons continually at the Tampa Bay Performing Arts Center. Lowry Park Zoo entertains families with frequent events as does the award-winning Florida Aquarium.

The Tampa lifstyle is further enhanced by several annual events including the Gasparilla Pirate Fest, Tampa's own version of Mardi Gras, the annual Strawberry Festival, and the MacDill AFB Air Show. Thanks to wonderful weather there are dozens of arts and crafts shows, parades, street festivals year-round.

The University of South Florida, University of Tampa, and Hillsborough Community College campuses plus other smaller insitutions of learning add an academic flavor to the area.

World-class medical care is available at Tampa General, University Community Hospital, Memorial Hospital of Tampa and at St Joseph's Women's Hospital and Children's Hospital and many other smaller health care providers.

In Tampa and the surrounding Hillsborough and Pasco County communities of Temple Terrace, Brandon, Lutz, Wesley Chapel, Land O'Lakes and Zephyrhills, there are homes and condos from the most luxurious to the very affordable. There is something for everyone on the Tampa Bay Florida real estate market. And with recent home price declines, there are very attractive bargains to be found right now.

For more information on popular Tampa Bay communities, including golf course communities, visit my Tampa Florida website. I'd be delighted to show you all that Tampa Bay Florida has to offer. You may also E-Mail Me or call me on my cellphone at (813) 263-6806 for immediate service.

Selling Your Tampa Bay Home Now Might Be A Smart Move

At first it might sound odd, but right now might be the best time to sell your Tampa Bay, Florida home.

Every home has things about it that you wish you could change. You may or may not have noticed these issues when you bought the home but you can't fix them now for various reasons. Maybe the cost would drive your investment in the home beyond what the local neighborhood would support. Or, maybe your home cannot be changed to suit your current needs and desires because of its physical structure, the lot size, it's locale, or changes in youe own personal circumstances. Maybe it was near a great school when you bought it, but now the kids are grown and that school nearby is just a source of noise and traffic congestion. Realtors call these home problems, it's "unchangeables."

"But why is right now a good time to sell when prices have dropped as much as 20%," you ask. Here's why. While the price you can get for your current home may be down, so is the price of a home that doesn't have it's drawbacks, or "unchangeables." With recent home price declines and interest rates at historically low levels, NOW may be the right time to step up to the home you originally wanted but just couldn't afford.

Let's take an example. Supposing you bought your home three or four years ago for $300,000, but it has lost 20% of its value and can now be sold for closer to $240.000 -- down $60,000. But, the home you originally wanted that sold then for $425,000 is now down by that same 20% to $340,000, a drop of $85,000, almost one and a half times the reduction your own current home took.

And with so many homes currently on the market, if the seller of that $425,000 home that's now worth only $340,000 needs to sell, it is very possible that, with the help of an aggressive Realtor, you can negotiate that price down even lower. Chances are that if you could afford the home you paid $300,000 for 3 or 4 years ago, you can probably afford the home you always wanted if you buy it now that prices are so depressed.

As a bonus, when home prices start to rebound, you'll not only have the nicer home, but that new home's price will rise even faster than your old one with those troublesome "unchangeables."

For help in finding the right Tampa Bay Florida home for you and your family, visit Cheryl Stimac's Tampa Florida Real Estate website. For more immediate help, call Cheryl at Red Shoe Realty, LLC on her cell phone at 813-263-6806 or E-Mail her today. You'll be glad you did.