Trulia Fort…, Other/Just Looking in Fort Lauderdale, FL

True or False?: Buy a home as soon as you can.

Asked by Trulia Fort Lauderdale, Fort Lauderdale, FL Tue Apr 23, 2013

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Trulia Fort Lauderdale,

What are you hoping to learn here? Your question is very vague. If you are interested in learning more about the real estate market conditions in Fort Lauderdale, I would be happy to provide you with data.

Chad Gray PA, Realtor
Luxury Living Fort Lauderdale
(at Coldwell Banker Residential Real Estate)
754-300-6040

100% of clients rated our service as "EXCELLENT"!
http://luxurylivingfortlauderdale.com/what-clients-are-saying/

.
0 votes Thank Flag Link Thu Apr 25, 2013
No one person can tell you when the purchase of a home is right for you or not. You have to decide if now is the time or not. Many factors to consider, is your credit acceptable to get qualified for a mortgage, do you have steady income, are you capable of re-paying a mortgage loan. Do you see yourself in that particular area for a while or not? These are questions only you can answer. You may want to google tips on deciding when to buy. There are plenty of sites that will give you tips on deciding if it is the right time or not.

Best of Luck;


Christina Solorzano
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
http://www.everlastingcredit.com
0 votes Thank Flag Link Thu Apr 25, 2013
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Yes, BUY NOW!

Lenders are not going to let you pay more per month than you can afford.

In fact, many buyers are finding that due to Obama's horrendous Over-Regulations, that they are being kept from being able to buy the property they want and can easily afford.

Example: 100,000 home appreciating at 6% yr = $6,000

$6,000 yr Tax Free = approx. $9,500 of gross pre taxed income

Mortgage payment less than rent

Larger Tax Refund check at end of year for home Interest write off

quality of life of owning your own home

etc.

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0 votes Thank Flag Link Wed Apr 24, 2013
False. Buying a home is not always a solution there are many responsibilities and a lot of comments.
0 votes Thank Flag Link Tue Apr 23, 2013
If your desire is to purchase a home in Fort Lauderdale, or anywhere else for that matter, then now is a very good time buy one.

That is, if you can find a house that's not under contract.

With prices up almost 28% in our area and inventory down more than 40% from last year, finding that home to buy is a struggle. If you're looking for a home under $300,000 and you don't have a horde of cash to bring with you, you are going to have a tough time competing in the marketplace.

Cash buyers and investors have swarmed over available homes as if they are about to become extinct. And as each wave of buyers lands on the inventory, prices keep moving up, making it harder for first time buyers with limited budgets to find homes.

If you're an investor, this is a terrific time to buy a home. That's because if you don't want to live in it, you'll find eager renters ready to sign a lease so their families have a place to live. Many of these renters are first time buyers who have given up in despair.

Once the renters move in, there is a vey good chance that your buyers are now in place, if you can work out a long term financing solution that works for both of you.

So, yes, it's an excellent time to purchase a home if a) you can find one that you like and b) you can line up the cash or the financing to make it possible to purchase.

By the way, this seller's market now extends across all price levels. While luxury homes over $1 million are not necessarily increasing in cost, they are holding fairly firmly to price. The era of the 20% discount is long gone on luxury homes and waterfront homes. Expect seller concessions of 10% or less on a general basis.

And in lower priced homes, expect to pay very close to full price or even above. Also, don't wait to make your offer. Many homes are gone within a week or less because demand is way beyond supply.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
Web Reference: http://www.JablonTeam.com
0 votes Thank Flag Link Tue Apr 23, 2013
It depends due to buyers needs, timing and affordability (even though that prices are still lower, buyers may not be in a right financial position to buy now). .

But the right time to buy is always now. So many "real" buyers have seeked my services over the years declaring upon first meeting each other "I'm a real buyer and I won't waste nobody's time. I'm here to buy...." But I spent days and weeks with them and they have never bought anything neither from me nor from any of my peers. A "real" buyer who is ready to buy knows it and he/she doesn't mess around. He starts working with an agent and within only a few days he will have looked at everything that interested him, discarded what he didn't want, makes a reasonable offer on the property he liked the best and in a few hours he is in a contract and closes within 45 days.

WHAT DOES THAT MEAN - THAT MOST BUYERS ARE LIARS?

At the beginning of 2012, home proces were at their lowest since 2001-02. Everyone was well informed about that. Not only, we, realtors worked our potential buyers pounding on them to buy now because "This is it. We are at the bottom!". And that was highly supported everywhere by the media. But buyers continue to look, procrastinate and watch the great deals go by them like water running through their fingers.


That being said, now prices in SE Florida (on the east side of I-95) have risen back up to where they were back in year 2004 (even 2005 on the beach or in swanky neighborhoods). Though, it is still a good time to buy now because at the rate prices are going up, prices may be back up to its highest general point back in 2005-06.
0 votes Thank Flag Link Tue Apr 23, 2013
Absolutely! LOW inventory and lots of cash investor (private and institutional) drive prices up...

Did you like this post? If so please click on the "green thumbs up" or the "best answer". Thank YOU!

With enthusiasm,

Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220 http://www.WeSellBroward.com
0 votes Thank Flag Link Tue Apr 23, 2013
SO TRUE !!! I can testify that I have seen many new commers to this country. The ones who purchased any kind of real estate as soon as they could swing it, are the ones who are better off now, 10, 20 or 30 years later.
0 votes Thank Flag Link Tue Apr 23, 2013
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