Home Buying in Miami>Question Details

Kris, Both Buyer and Seller in 30014

Is it smart to buy in Miami at this point...or should one wait?? I'm thinking of moving back from ATL

Asked by Kris, 30014 Fri Feb 1, 2008

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3
Hi Kris,

Without a doubt, this would be the time to purchase your property.As time passes one can only guess that certain areas and properties will just rise.Obvoiusly the market is at an alltime low and if you are looking to buy cheap and hold, this is the time..You have many options available to you as far as financing.With all the federal loans you definitely can't go wrong.First, find a real eatate pro..Second, target your area.Third, find the right place based on your criteria.Fourth, get the financing in order..Believe it Kris, this is the time to make good on your investment..
Web Reference: http://WWW.LOANSWITHJOE.COM
1 vote Thank Flag Link Wed Feb 20, 2008
Who you know the market is turning around its to late and you will have already missed your opportunity to buy. Now is the time to get a really good deal. Right now you can Miami properties for dirt cheap. Take advantage of the opportunity. And buy your Miami home using FHA imortgage nsurance you can get into the property with only 3% downpayment. You can check out the FHA lending limits at http://www.fhahomeloanmortgage.com/loan-limits/florida.shtml
hope this helps
1 vote Thank Flag Link Sun Feb 17, 2008
The million dollar question on everyone's lips ! I think it depends where you buy in Miami, what type of property , how long you plan to live in the property and how low you buy it. We are seeing tons of Europeans snapping up properties in Miami Beach and homes in established neighborhoods are still selling at a regular pace and there is not an over supply in those neighborhoods. I have also many buyers with families moving into larger homes or 1st time home buyers. Most of my clients are financially savy and several of them have bought condos in Miami Beach within the last few months. They say it could still go down a bit more but THEY are buying so they must have a long term faith in the value of Miami. You definitely have to find a deal priced at least at 10% below current list prices but yes it is a good time to buy if you will be in the property at least 3 years or more.
1 vote Thank Flag Link Mon Feb 4, 2008
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