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Should you buy now?
Definitely maybe.
It depends. What
are your reasons or motivations for buying? What type of
property are we talking about? How desirable is the
property, and how many similar or identical properties are
available? And, perhaps most importantly, how long do you
plan on holding the property for? A year ago, you could
pick almost any piece of property in this county to increase in
value, and 9 out of 10 did. I don't think that is the case
now.
Buyers need to make
sure that their goals/needs are met completely by the property
that they buy. They also need to make sure that the price
they pay is as good as possible, again based on complete market
knowledge provided by an educated, honest agent. I would
also advise buyers to be wary of neighborhoods and areas that
have lots of spec or empty homes.
Some positive and
negative factors to weigh
|
Attributes |
Buy makes
sense when... |
Think twice
when.. |
|
Time frame
of planned ownership |
Long
term investment |
Short
term investment |
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Desirability, uniqueness of property |
Awesome neighborhood, waterfront, beachside, golf course |
Speculative land, older "dime a dozen" homes, problem
floor plans or lots |
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Annual
expense of ownership |
Rent
covers most of mortgage
Nice piece
of land that you can afford |
Expensive house, hard to rent
Property
with high HOA fees |
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Current
inventory levels |
Not
many to choose from |
Hundreds to choose from |
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Expected
future supply |
Area
or type of property is built out |
Hundreds coming on market. e.g.- (High rise Condos) |
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Your current
situation |
Selling local house, buying local house you like better.
Currently
Renting.
Relocating here.
Selling current home, then renting while new house is
built. |
Building a second home, while living in current home. |
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Please fell free to
call me to discuss the market, and your questions about
it. There are some great opportunities out
there, but you have to make sure the realities of our
current market meet your goals and plans.
Give me a call:
Jeff Beck 321.722.9906 |
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