Real Estate & Area Information articles from a Eric Chavarria with Future Home Realty Inc

Is Honeymoon Island one of America’s best beaches? There is just so much to do there that I consider it one of the best. I am no Dr. Beach but I was born in Costa Rica which is known to have some of the best beaches in the world, so I know a nice beach when I see one. Caladesi Island has been voted one of the best more than once and in 2008 it was voted the #1 beach in America. In those same polls I noticed some other familiar beaches but have never seen Honeymoon Island on the list. Is it because it is considered a part of Caladesi? I think not. The water is just as clear and you don’t need a boat or a ferry to get to it like Caladesi does. Don’t get me wrong, I am not bashing Caladesi Island, I just want Honeymoon to get its recognition.

I am a beginner surfer and living on the west coast of Florida is no fun for long board surfing or is it? Ok, so we don’t get 6 ft waves unless a hurricane is in the Gulf (Lets hope they don’t come this year because of the oil spill, but that will be another blog). Anyway, we actually get some fun small waves in the summer. In the winter the cold fronts make waves a little bigger. Either way, the waves that form on Honeymoons’ Main Beach are extremely long and fun to surf. Besides the fun waves, we have a paradise of trails for bird watchers. I was walking through one on the trails with my girlfriend Krystin and we saw a huge Osprey carrying a fish in its talons,it was amazing. Then we saw another one perched on a high branch which made me wish I had brought my DSLR camera with a long lens instead of my girlfriends point and shoot. Either way, I think it should get more national recognition than it does. I put together a little video to show some of the activities (I was not able to go on the trail that day since they were having a prescribed burn.)Check it out and let me know what you think.

A new survey recently published by New York City-based Luxury Institute and the Institute for Luxury Home Marketing show statistics that prove the affluent are taking advantage of the lower home prices and moving up to bigger, more extravagant homes. One in four U.S. consumers has bought a larger more luxurious home since 2008 and 23% of those are under the age of 50 and plan on trading up in homes in 2011. These statistics apply to those earning more than $150,000 per year but anyone can take advantage of this market. I tell my clients that as long as they are buying another home in the same area that is equal or more expensive they will not lose any money as the money lost on the sale is recovered on the purchase of their new home, in fact, if the new home they buy is more luxurious then they are actually saving more than what they lost. I have seen this trend myself with clients here in the Pinellas County area as they are buying homes directly on the beach instead of across the street on the bay since now they can afford that luxury of being directly on the sand! They are picking up bargains because, as we all know, the affluent did not get wealthy by throwing their money away. Here is a link to Pinellas County foreclosed homes to show you what you can pick up today for a fraction of the cost of just a few years ago. http://search.prestigefloridahomes.com/i/10704/PinellasLuxuryForeclosures  In conclusion, if you are looking to trade up, now is the time to do it as you would be losing some money on your sale but would save a higher amount on the new home therefore making money. (Please note, you would make money as long as the home you buy is more luxurious and expensive, if you down size in this market you would lose money).

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.