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
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
2007-09-17 00:47:56 · 3 answers · asked by lee s 1 in Business & Finance ➔ Renting & Real Estate
Lee you asked this the other day. My answer is still the same. If you offer them $180,000 your have just reduced the home you are buying in value by $45,000!!! It will take years to regain that kind of value in your new home. What are you thinking? If you want a damn deal, go by a mobile home! People can't afford to through away their equity because you want a deal! Get smart offer fair market value. I think we've seen the bottom of this poor market. If people would just educate themselves to the way the market works, and stop trying to steal real estate we'd all be ok.
2007-09-17 01:46:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You keep asking this question and getting the same contradictory answers. I say go ahead and buy.
No one knows the future. But real estate has been a good investment in this country since it's founding, and there's no reason for it to change now. The population keeps growing, especially in Florida, and the supply is fixed.
No one knows for sure if the price of your townhouse will go up or down in the next three months. But there's an excellent chance it will be up in the next three years.
Often the best time to do something is when people are standing around yelling about what a bad time it is to do something. Be contrary. If no buys houses this year, it means that there will be a huge demand for them next year. So your price will go up.
2007-09-17 08:14:34 · answer #2 · answered by hottotrot1_usa 7 · 1⤊ 0⤋
the market has fallen significantly ove the last year yes it is a good time to buy! real estate is still a great long term investment! just make sure you get a great fixed rate ask for seller concessions and use it to buy the rate down!
igonor the post above they are a just pushing s site that ironically sells advertising and is for sellers and buyers. funny how a post telling you not to buy ahome would advertise homes for sale and onthe site ask for 25.00 a day to advertise there! they have no real informtion to help you i live and invest in properties in florida the market is ripe for buyers! get in when you can and try to make an offer before the feds lowr rates and the home prices start climbing
well said Alterfemego! we have seen the bottom of the market and things should start to rise soon after the fed starts cutting rates
2007-09-17 08:14:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋