2007-08-31 11:53:14 · 9 answers · asked by Mark S 2 in Business & Finance ➔ Renting & Real Estate
I am a Realtor in Florida (West Coast) since more than 15 years. Right now is the time to buy.
The Market will pick up and turn way earlier than anybody expected. We are seeing buyers and investors coming back, picking up "good deals", we are also seeing commercial Real Estate activities rising. Even Developers are buying land again and start pulling permits and construction processes.
The Market will bounce back soon and probably even higher than it was in 2004/2005. Mortgages, Interest Rate is still good and better than it was in the Market beginning 1990.
Florida is a great place to live and a lot of people know that too.
2007-08-31 13:17:14 · answer #1 · answered by Monika Wilson 4 · 1⤊ 0⤋
Depends for your factor of view or how a lot truly property values influence you. The unhappy truth is , in lots of states folks could no longer be ready to swing the loan at the condo they presently possess in the event that they had been to shop for it once more. How can they count on the younger , with the outsourcing of jobs and the mediocre economic climate to help this housing inflation. Most of this hyper- pricing used to be induced via hypothesis simply as with shares within the overdue nineties and higher finish truly property at the west coast within the early nineties. Money chasing dwindling avenues of funding after the 7 trillion greenback fairness cave in.Sure wish you did not take out a house fairness mortgage.
2016-09-05 19:10:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I think it's a great time to buy, if you plan to stay there for a few years. I was just reading an article about how much over construction of condos they've done in the Miami area. They'll have excess supply for years. I'm sure it'll all be sorted out 5 years from now.
2007-08-31 12:03:06 · answer #3 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
Right now it is not good. Here is some information directly from the Florida Association of Realtors that may be helpful.
Florida existing home sales:
-24%
Florida existing condo sales:
-26%
Florida existing home median price:
$237,500
Florida existing condo median price:
$193,900
Florida consumer confidence:
78
2007-08-31 12:20:54 · answer #4 · answered by Etta P 4 · 0⤊ 0⤋
Mostly underwater in 10-20 years.
2007-08-31 11:58:05 · answer #5 · answered by thylawyer 7 · 0⤊ 2⤋
People will return as soon as they forget about hurricanes, humid weather and alligators.
2007-08-31 12:06:22 · answer #6 · answered by shipwreck 7 · 0⤊ 0⤋
It's going to be tough for awhile like everywhere else.
2007-08-31 12:09:19 · answer #7 · answered by Anonymous · 0⤊ 0⤋
NOW IS THE TIME TO BUY....and hold....market is poor now....buyers choice....all investments go in cycles but do your due dilligence...
2007-08-31 12:20:42 · answer #8 · answered by JOS L L 2 · 0⤊ 0⤋
It will definitely return to its former highs and then go higher.
The question that no one can really answer is WHEN.
2007-08-31 12:06:33 · answer #9 · answered by DrIG 7 · 1⤊ 0⤋