i am thinking of buy a 2 br 2 bth townhouse in forida broward county is it a good time to buy or should i wait, the unit i am thinking of buy was selling for 225,000 in 2005 and now i am able to buy it for 180,000 considering that decline should i wait and watch price drop some more or should i just buy now because even if the price does drop on this unit and i wait i will still have to rent a place and that will cost me a min of 15,000 for the year so even if the price of the unit does drop i feel it will still be the same because i will be wasting money on rent. whats going on in the florida market are people buying or waiting , i really feel that the place i buy for 180,000 will not drop much more or is there a possiablty that the place i buy for 180,000 will only be worth 110,000 in a yrs time. please any advise will be helpful to me. thank you
2007-09-16 13:33:27 · 3 answers · asked by lee s 1 in Business & Finance ➔ Renting & Real Estate
Ignor dont buy funny someone who is saying not to buy a home would have a site to target buyers and sellers its a fishing site!
I live in florida and the market is down now but now is a good time to buy a home.
home prices have fallen over the last year and have stablized now some markets are starting to climb or level off.
the market here was going nuts and home proces climbed in some markets as much as 20% a year
home proces have fallen quite a bit and the market has alot of great buys! sellers willing to give seller concessions and a huge discounted price!
a home that sold for 350k now is about 250 or less now that the market has leveled off i would say go for it.
get in fast and find one yo like once the fed lowers rates and buyers start making offers proces should start to climb
dont chase a rising market! home ownership is still the most stable way to have an investment that grows in price not to mention the tax benifits
dont listen to people trying to spread panic they have a agenda
2007-09-16 14:23:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No crystal Balls in Florida! or anywhere else. There was a huge jump in prices there for awhile and after Hurricaine Wilma it started a slow decline. That is almost two years ago and depending on there area it has leveled off due to market demands. I can give you contact info for a REALTOR and Mortgage person in one who can help- Her name is Kirsten Dalstrom and she works with me. She is very technical and can dig out the information that you are interested in. E-mail her at TinkerKAD@aol.com and tell her the Broker sent you! It's a great place to live. Enjoy the balmy breezes. p.s.
I disagree with Patrick.net and I didn't crash his site- Maybe he realized he might be wrong and a bit liable for giving financial information like that. At least we can give you the real stats if you tell Kirsten exactly where the unit is she can give you the exact scoop based upon what has happened recently! I have outside commitments tommorrow or I would volunteer to do it myself. Also I do like to live in a more hopeful state.
2007-09-16 13:46:28 · answer #2 · answered by helprhome 5 · 0⤊ 0⤋
Buy it. You need a place to live. Owning is better than renting. More and more people are moving to FL. The population of the country is increasing. Land prices and home prices will come back up.
2007-09-16 13:46:48 · answer #3 · answered by hottotrot1_usa 7 · 0⤊ 0⤋