Maria Espino…, Other/Just Looking in 33149

is it a good time to buy in key biscayne. My opinion is no! Should I rent ? I presently own a home at the Fal

Asked by Maria Espinosa, 33149 Sat Jul 7, 2007

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5
Deborah Madey, Agent, Brick, NJ
Sat Jul 7, 2007
Interest rates still remain at historic lows. No one can predict the future. No one knows for sure what prices will do within the next year. I read the public reports and outlooks from the CEO's of the largest builders in America, and find their statements from year to year riddled with predictions that did not materialize. These are bright minds with lots of experience.....and they can't, nor can we realistically expect them to hit the nail on the head. No one can tell you what prices will be next year. Over the history of 40 years, interest rates are still considered very attractive. Even if prices fall, interest rates may increase, and your out of pocket costs could be more. So......is it the right time for you to buy? If you anticipate living in a location, or maintaining the residence for more than a few years, then I recommend you consider buying. A home is more than simply an investment. It is also where your memories will be made and your lifestyle shaped. Certainly you want to make practical financial decisions, but balance this with the fact that where you live shapes your life. If you anticipate the need to sell in a short time, then you might want to consider renting. If you are looking for the long term, I recommend that you consider buying. Buy well and finance smart!
Web Reference:  http://PeninsulaFirst.com
1 vote
Jmotrulia, Home Buyer, Miami, FL
Tue Aug 18, 2009
ocean tower 3 by 3 sells for 1.18mm 799 crandon #306 sells for 453 per sq ft a recent low 733 crandon sold for 425 a sq ft (worse building)
0 votes
Jmotrulia, Home Buyer, Miami, FL
Mon Aug 10, 2009
Still gowing lower. 739 crandon 4 bed 3 bath just sold for 1.1+mm 438 per sq/ft. The high end hasn't come off as much therefore will continue to slide into late 2010. 445 grand bay #603 has cut it's price by 39+% or 1.4mm and still hasn't sold. My thoughts are low 400 per sq ft is a buy in Ocean Club or Grand Bay. High 300's is prob a steal. Patience is a virtue.
0 votes
John, Home Buyer, Miami, FL
Wed Mar 25, 2009
rent. The following web site highlights the reason why.
0 votes
Philippe D, Agent, Miami, FL
Wed Dec 5, 2007
Hello,

In my opinion, I have not seen Key Biscayne prices go down as drastically as Brickell or Downtown Miami areas. Key Biscayne will always be in demand as it is considered a high end and exclusive location. If you find a short sale or foreclosed unit then it might be better to buy but at this point leasing on Key Biscayne might be better especially if you take all the expenses associated with purchasing (closing costs, mortgage, monthly maint. fees, taxes, etc..) vs. paying a rental fee. You can check out the current list of inventory for both rent and sale on Key Biscayne by visiting my site: http://www.dienerproperties.com/key-biscayne-condos.htm
0 votes
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