With the market changing, is it smart to buy property in the Orlando area now?
2007-11-15 04:21:40 · 6 answers · asked by OuiOuiChica17 2 in Business & Finance ➔ Renting & Real Estate
the market will probably bottom in the spring of 2009. I will wait for the lending landscape to change and for the housing market to bottom first. From there a full recovery is not certain, may be properties will start increasing at a modest 2 to 5 % annual rate. If you buy for yourself and to enjoy I still would wait until pass the summer of 2008.
2007-11-15 04:37:15 · answer #1 · answered by crapaudblanc 4 · 0⤊ 0⤋
NO ... Wait.
No only is the market over valued, but property taxes and home owners insurance has increased in some areas by 500%.
The state is beginning to combat the insurance companies, but it will take a couple of years for it to settle out
2007-11-15 04:50:43 · answer #2 · answered by Steve S 5 · 1⤊ 0⤋
Nope.. Foreclosure rates were just released and Florida has 1/3 of the top 25 top foreclosure areas. Prices in Florida are still higher than most other states in the entire country, so now is the wrong time to buy antyhing in Florida.
2007-11-15 04:29:46 · answer #3 · answered by Harvick 29 Fan 4 · 0⤊ 0⤋
If you can get a loan, then yes. Just offer way under asking price, I bet you will find a taker it just might take a little time.
2007-11-15 04:30:09 · answer #4 · answered by applecrisp 6 · 0⤊ 0⤋
Only if you want to lose money
2007-11-15 09:35:55 · answer #5 · answered by Pengy 7 · 0⤊ 0⤋
No no no
2007-11-15 04:31:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋