Do you feel that it is a great buyers market at the moment in FL? If so what parts of FL and why?

Answer 1

At the moment in my part of FL there are 7,700+ listings, not counting the 6-8 foreclosures every day. Lots of inventory does not mean bargains. Most of the sellers are upside down and trying to get out of loans they can not afford. They are trying to sell for their loan balances, which are way too high.

The banks are not considering offers below list for the properties they have taken back. I have made several offers, and the counter from the banks has always been their list price.

Answer 2

It's a buyers market in most places these days. Due to the high volume of listings. Hopefully with winter coming on, the market will slow down and if the Fed's decrease the rate, we'll see more buyers in the market place. Florida's market isn' t much different from Minnesota - only the weather changes here! lol

Answer 3

Yes, most of Florida is a buyers market. But you need to go in with your eyes wide open. Prices are still dropping, tho not precipitously. We are in a buy and hold market, not a buy and flip market. For buyers and especially for people who know how to do short sales, the looming foreclosure market is going to present a huge opportunity. People are starting to walk away from houses. If you can help them save some dignity, perhaps their credit and give them a little to start over with, you will be creating win/win situations. Now is definitely the time to buy, but make sure you are buying at a low enough price in order to be able to compensate for any further drops and for extended holding costs of properties.

Best of luck to you,
Barbara
www.therealestatebirddog.com

Answer 4

Yes, it is. Orange, seminole, osceola and volusia counties are all down in sale by at least 35%. Sellers are making concessions. It is a buyer's market here.

Answer 5

If you have flawless credit and 20% down .
Also if you plan on staying , Not trying to flip .

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