Will the housing market, especially in Florida still be a good time to buy 12-18months from now?

Asked by Bob L., Pittsburgh, PA Tue Aug 19, 2008

I am in the process of selling my home in Pittsburgh,Pa. I live in the city and i don't think i'm going to get much more money if i were to wait for better times in the market. My plans are to move to Madeira, reddington, around that area. I sold my camp and came out with approx. $33,000.00 and i'm hoping to come out with approx. $22-25,000 on my house. I'm a nurse and plan on coming down there through a travel nursing agency and using them for work, a place to live and decent money. Plan on saving a little more money while doing that. Would like to come up with about 80-100,000 saved up. in a long way of getting to my question, do you think the market will be this depressed in lets say another 12-18 months from now. Do you think i could possibly get something within walking distance if not closer to the Gulf with my situation or plans? Thanks so much!!! Bob L., Pittsburgh,Pa

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Bill Eckler, Agent, Venice, FL
Wed Aug 20, 2008

We have opportunities that might meet your needs in the Venice area as this is a wonderful time to consider buying.

It's impossible to tell what the maket will be like a year and a half from now. What we see happening in our location is the best deals are being picked up now. Many of our buyers are foreign nationals that realize the benefits of making a committment at this time.

At this time, it's possible to find a place within walking distance of the Gulf in Venice for under $100,000, one of the best locations on the west coast. Who knows what 18 months will bring.......
What we do understand is what is possible right now. Our recommendation is to buy now, in time to rent it out for the season, taking advantage of the high seasonal rentals.

If you would like additional information we would be happy to support your interests both now and in the future.

Best regards,
The "Eckler Team"
Michael Saunders & Company
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Grant, Home Buyer, Tampa, FL
Wed Aug 20, 2008
I would wait to buy, and possibly rent in the interim. The price to rent ratio favors renting. If you look at histoical valuations, properties in the areas that you are mentioning are still overvalued. They are on a downswing and economic conditions in the area should continue to force them in that direction.
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