Hyper42677, Other/Just Looking in Brandon, FL

Moving to the St. Petersburg area. Looking at Parrish was wondering if is a good time to buy or just rent?

Asked by Hyper42677, Brandon, FL Fri Feb 4, 2011

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Alma Rose Kee PA’s answer
I agree with Bill that it's prudent to rent before you buy when moving to a new area. Now if this was a rapidly rising market like we had a few years ago then it may be best to go ahead and buy. I don't see anything that will spur demand for real estate and until that changes prices will probably not be going up.

Just be very careful if you decide to rent because there are many landlords in pre-foreclosure so you may have to allow showings to Realtors and their buyers. Who wants that inconvenience!

It's not unreasonable to ask an owner for proof he is current on his mortgage before you hand over any rent money. Better to tough it out and rent in a complex for 7 months while you shop for the right home and neighborhood.

Hope this helps.
Alma
1 vote Thank Flag Link Fri Feb 4, 2011
Parrish is a particularly good buy these days, much lower asking prices than Sarasota and for larger homes. I'm not a fan of renting but there are also homes available to rent. However, I am confused by your question because St. Pete is not Parrish. There are closer communities to St. Pete area but if you have a job in St. Pete and want to live in Parrish then you are not particularly far by interstate.

I hate giving rent to a landlord (lady) although I am an investor and have plenty of tenants in homes I own just for the purpose rental income. Through the years I have encouraged my renters to buy homes of their own, even before I was a real estate agent.

Problem with renting in this economy is now homes are very reasonable and mortgage rates low as well. After a year of renting the mortgage rates may be higher and hopefully so will the asking prices of homes you may want.

Certainly, visit Parrish, look at homes in your price range, check the paper for rentals, visit them, examine your savings and see what makes more sense.

Of course, you could buy now at a low price, stay a year or two, and probably sell that home for more and make a profit to be used to buy somewhere else if you don't like Parrish.
1 vote Thank Flag Link Fri Feb 4, 2011
Hyper,

Unless you are totally familiar with a location and comfortable with what it has to offer, we recommend considering "short term" rental prior to making your final decision.

Taking this route affords you time to collect the required information to be able to make a solid decision.

Good luck,

Bill
1 vote Thank Flag Link Fri Feb 4, 2011
Update... There is a Bill in the Senate to offer Visa's to immigrants (not work visas) if they invest IN CASH at least $500k in Real Estate. The Bill requires the primary residence to be purchased IN CASH for at least $250k and the remaining $250k can buy investment property.

We may now be at the bottom of the market.

May be time to buy now. If you need downpayment money and make less than about $70k per year (for a single person) then you can get $5k from a State of Florida Bond program. If you earn less than about $40k you can get $7,500.

It may even be worth breaking your lease to buy now.

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
http://www.SoldOnTampa.com
813.244.9898
0 votes Thank Flag Link Wed Oct 26, 2011
Interest rate are very good!

Great prices with plenty of selection. If I needed a home, I would certainly be shopping now.

Jeff Nitz
Beach & Luxury Realty Inc.
7340 Gulf Blvd.
St Petersburg Beach Fl 33706
727-424-6412
0 votes Thank Flag Link Fri Feb 4, 2011
Dear Hyper42677,

To answer your question...I've been selling real estate full time in the Tampa Bay Area for over 29 years and there has never been a better time to be a buyer.

A question I have of you...you stated you are moving to the St. Petersburg area; however, Parrish is in the Bradenton area. Is your plan to work in St. Petersburg and commute south to Bradenton?

Please let me know if I can be of assistance.

Warmest Regards,

Connie L Carberry
International Realtor, GRI, ABR, CIPS
MCN Group, Inc.
Direct: (727)525-9400
Cellular: (727)410-1568
0 votes Thank Flag Link Fri Feb 4, 2011
Great time to buy, because prices are low.
Rent short term and start looking while you are down here.

Please feel free to call, if I can help you further.
727 821 0603
Haike Abraham

http://www.CrownGroupRealty.com
0 votes Thank Flag Link Fri Feb 4, 2011
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