Another day, another prediction of suburban demise

For years, we have been being warned about "suburban decline".  Some of these warnings appeared to really take off after the real estate market imploded just a few short years ago. There were so many foreclosures, a large percentage of them in the once immune suburban areas on the outskirts of many towns and cities.

To read more on this predictive argument you only need to pick up a copy of The End of the Suburbs  one of the latest books to predict a troubled future for the suburbs. In a recent interview with Forbes author Leigh Gallagher forecasts a not so brilliant future for the suburbs we grew up with and love. I must say though, I have a hard time envisioning any scenario where we will have this problem in the Tampa Bay Area anytime soon.

Florida and its heavy dependence on the real estate market continues to remain strong despite the troubled market we had and the resulting economic downturn. Thanks to a varied mix of housing choices ranging from mobile homes, new suburbs, urban townhomes and beach condos that continue to attract those who want to live in "paradise."

There are apartments near Tampa in the Lutz community and they do tend to be more secluded than North and New Tampa. Even with this suburb is just outside of Tampa, you will find it has a much more rural feel and it does tend to be "quieter" than both New and North Tampa.

Traffic in Lutz is different as well as you will experience much less traffic than other local neighborhoods. Still, you have the beaches just 30-40 minutes away and two major malls just a 20-30 min ride away. Unless you enjoy the bright lights of the city and the "not so plentiful" entertainment, this should not keep you from considering a home in Lutz.

Still, I think Gallagher is right on the market when it comes to her prediction that the inner suburbs are going to be "the place to be" for our Millennials’ and Gen X’ers in the years and decades ahead. Suburbs will continue to be urbanized; small "town centers" will continue to become visible. These village centers will be central points for activity, restaurants and shops will service a more regional area bringing back a sense of neighborhoods. This will happen because not everyone wants to live in the city and there needs to be a place to get away, to "go" home.

If your dream is to own a home in a beautiful area, close enough to commute and far enough away to relax we are here to help. Call me to schedule an appointment to see the best homes available that Lutz area has to offer (813) 417-6696

Bunch Your Taxes and Save

Did you know you could Bunch Your Taxes and Save?

One of the drawbacks to low mortgage rates is that the total interest and property taxes paid for the year may be lower than the standard deduction. A little planning might be able to help you at least every other year.

Most homeowners know they can deduct their qualified mortgage interest and property taxes on their Schedule A of their 1040 tax return or to take the standard deduction if it is greater. See Your Deduction...Your Choice.

Deductions are taken in the year that they're actually paid. If a homeowner paid their 2012 property taxes in 2013, they would not be deductible on their 2012 tax return. Then, if the 2013 property taxes were paid in 2013, both the 2012 and 2013 taxes could be deducted on the 2013 Schedule A.

By delaying the payment of the 2012 taxes until 2013, the combination of the 2012 and 2013 taxes might exceed the 2013 standard deduction and provide a higher deduction.

Other Schedule A expenses such as charitable contributions and medical expenses may be bunched also. From a practical standpoint, since most mortgage payments are due monthly, the mortgage interest would not be bunched.

This information should be discussed with your tax advisor to see how it might apply to your individual situation. The key is you must be aware of the strategy early to be able to use it.

 

Mary Zohar is a long-standing member of the Coldwell Banker North Tampa Office and an active member of the Greater Tampa Assoc. of Realtors. Besides having a Bachelor in Science from the University of Florida, she holds: Certified Home Marketing Specialist, Certified Negotiation Specialist, e-Pro, Short Sale and Foreclosure, and Accredited Buyer Representative certifications. And is current in Continuing Education and licensure for the State of Florida.

Having lived in the Tampa Bay area for over 30 years makes her an expert in the market as well as the community at large. If she doesn't know what you're looking for, she surely knows who to ask or how to find out. Watching Tampa Bay grow, after these years makes her knowledge priceless. For more information visit her website at: http://www.home4utampa.com/