If you read the papers, then you know the real estate market is in a period of transition. The general consensus in many cases is that, if you sell now, you lose. But the smart money says that, if you own and hold real estate in the Tampa Bay area now . . in 2012, you will look like a genius! Experts say, and history supports the philosophy, that property values will go up again, to levels we can only imagine.

You have probably heard that mortgages are difficult to get. Well, only in some cases. Mortgage companies have had to take another look at how they do business and emphasis is now placed on real value and certified, legitimate, appraisals. Adding home improvements adds to the real value of your home. Real value, specific features, and all around “good living”, along with market levels and comparable sales, are some of the most important factors that appraisers will look for in future valuation of residences.

The newspapers have also reported that, mortgage companies are failing in record numbers, and foreclosures are increasing at an alarming rate. Tax relief opinions range from minimal to outright fantasy, and insurance companies are still begging for rate increases. Why, some smart economic prognosticators are even saying we might have a recession, for some or all of this year, 2008. Sounds pretty crappy, doesn’t it?

Would you believe there is some really good news in there? Consider this, Mr. & Mrs. Homeowner: The construction industry is off by about 50% and there doesn’t seem to be much hope of significant gains for a while. Now, how could that be good news? Have you ever hear of the law of supply and demand? That’s a good law. And here is how it all works so that you win, and the tax man loses.

Since construction is way, way down, the price of construction services is down, too. There are more items and systems, with innovative materials and features, available today to improve your home, than ever before in history. You can add features and improvements that will make your life happier and more convenient every day . . . And save money. The building boom for new homes had undergone a serious correction and production home builders have scaled way back. If builders construct fewer new homes, so materials are easier to get. That means, you can remodel or add on to your home, for at a better value, now, than any time in recent history. Then, when the improvement is completed, you will have much more of the investment that is considered most peoples’ largest asset – Your primary home. And . . . Since real estate values have plummeted, the assessor places a smaller value on your improvement, making the addition to your tax bill much less than in recent years. Now the really good part . . . . Since builders are constructing far fewer new homes, existing homes will increase in value much more, when real estate values begin to climb once again. And they will pretty soon. Then, your property climbs in value but the “Save-Our-Homes-Cap” keeps your tax increase to a maximum of 3%. That means you can have and enjoy the full features and improvements to your home and still beat the Tax Man! Think about it. Later, if and when you decide to sell, the gains will be significant and, in most cases, Tax Free!

Riviera Bay Builders, Inc., can help you improve your home now and lock in the benefits found in your residential property investment!