Is it Time to Buy?

Ø      Is it Time for me to Buy?

§         Many buyers are waiting on the sidelines, wondering if prices will go down further.

·        “The Genius Rule”: If you buy in a Buyer’s market and hold the property, you’ll look like a Genius when the market swings back to a Seller’s market! Many people created significant wealth by buying property before the boom and holding it. Even in the current market, people who bought several years ago still have considerable equity.

Ø      The psychology of the market at this point in time favors buyers. Since sellers do not know when conditions will improve, those that are highly motivated will price aggressively and/or will consider aggressive offers from value-oriented buyers.

§         The current market is creating the greatest inventory and the most motivated sellers we’ve seen in years, creating exceptional buyer opportunities including Florida foreclosure properties and short sales.

Ø      Once the market stabilizes, sellers will be more inclined to hold their prices.

§         I have personally been helping customers from years past to buy now-affordable properties that they were priced out of in the past few boom years.

Ø      When will the Florida real estate market turn back up and what will cause it?

¨      Of course, no one can predict with certainty when the market will turn back up. South Florida real estate has several advantages over most other markets which I believe will lead to increased demand in a few years:

Ø      We are a destination market. Many people spend thousands of dollars just to spend a week or two here.

Ø      Sun, sand, sea and splendid winters. The South Florida climate is very attractive to many people, especially those dealing with ice and snow up north. I know that I never want to scrape ice off my windshield or shovel the driveway again!

Ø      The Baby Boomers ARE Coming! Baby Boomers start officially reaching retirement age in 2008. Many have parents, children, friends, or other relatives already living here. Many have made plans to retire in Florida.

·        If you are buying a single family home, condo, or townhouse as your primary home or Florida vacation home for your own personal use and plan to keep the property for several years, this could be the right time for you to buy. We’ll identify the best values in the market for you and help you negotiate the lowest possible price on your ideal home.

·        If you are seeking South Florida investment property, now may also be a good time for you to buy. The ample residential inventory offered by distressed sellers is providing some great rental home opportunities for the savvy investor. Single family homes and multifamily homes can offer an opportunity for strong potential long term capital gains when the Florida real estate market swings back into an up cycle.

·        Commercial properties are holding their prices pretty well so far, which are based on the rate of return they offer or are priced based on the comparative cost of renting for the owner-user.

·        Both commercial and investment properties are often very straightforward in the returns that they offer. We can help you work through the numbers to determine whether a particular property makes sense for you, based on your objectives and tolerance for risk.

·         We work hard to find the best values, negotiate in the best interest of our clients and ensure a smooth transaction. Call or email us with any questions, and we'll do our best to help you succeed with your South Florida real estate goals.