Hold off buying in Florida or buy now?

Question

With the Florida housing market in trouble, it has become a buyers market. Should we purchase now, or wait a few months to see if it is more of a buyers market. ( we live in Florida and want to upgrade)

Answer 1

I am a Realtor and I have been thru these things before. The minute you hear most people saying that real estate is a horrible investment, then it will be a great investment.

You will always have competition for the best homes, but for ordinary or plain homes you may find they have no other buyers and you will get a great deal.

Answer 2

Wait a few more months. It's going to get worse in Florida as the bubble was much larger. There's going to be some large drop in property values.

Answer 3

I think this housing market is going to crash even more. If you've got the credit and are ready to buy, I'd wait a few more months. I think you'll get a better deal.

Good luck! :)

Answer 4

Florida is a big state.

South Florida has a serious bubble problem, and it could see a serious reduction in prices.

North Florida has a bubble as well, but prices will not come down quite as much.

Answer 5

I would start looking now. I don't think that it will flip to a seller's market in a few months. However, there are great deals out there now. Don't miss it.

Answer 6

find a bunch of properties you like and start lowballing now. im moving to fl next month and going thru the same thing. when people get in enough of a crunch, they will start accepting less. its sometimes very funny, when you see what people are asking for their house and then look on the tax assesors webpage and find out what they paid for it. and most importantly, dont listen to the realtors, they will always say buy. they dont get money if u dont buy, and they get less money if u pay less. realtors are lazy cheats who think their miniscule efforts deserve thousands of dollars.