Sharyn, Home Buyer in New Jersey

Should we rent or buy in this market?

Asked by Sharyn, New Jersey Tue Aug 12, 2008

We've always wanted to retire to Venice, FL and have finally sold our home in NJ after over a year on the market. We only have a few weeks available now to find a home and move. We're afraid of making a mistake under pressure. Would it be wise to rent first,....but if we take a year-long lease will we miss the really good buys in the Venice market?

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Bill Eckler, Agent, Venice, FL
Sat Aug 23, 2008
Sharyn,

If you are familiar with Venice ....and it sounds as if you are, our recommendation is to not committ to a long term lease but find a month to month rental to use while you do an in depth search.

Since this has been a long time goal, we see no real benefit of waiting. Prices have dropped and sellers are motivated......this transulated into savings. Now is the right time to buy if you can identify the right home, in the right location, and at the right price. Many foreign nationals are taking advantage of the current market because they see the benefits that go far beyond the value of the dollar.

Essentially.....to wait may be to miss out on opportunities that are being sold every day. We just closed yesterday on a Venice Island home that was listed one year ago for $624,000 that we closed yesterday for $298,000. 200 yards from the beach, recent extensive renovations, granite, caged pool, terrazo/carpet, private yard, etc. etc. etc.

The bottom line is, it has to be the right time for you personally. People that elect to wait are waiting for a better opportunity that may not come....choosing miss possibly the best time to buy.

We would be happy to assist you with finding a rental or help you to find your perfect home.

Good luck,

The "Eckler Team"

Michael Saunders & Company
941-408-5363
billeckler@michaelsaunders.com
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Wed Aug 13, 2008
It seems like now is an extremely good time to look into buying. Prices are low and inventory is high. That equation makes the best buying options that Florida has experienced in years.

Perhaps a lease/option would be something to consider.

If you buy right, you'll be just fine.
0 votes
Shannon Moore…, Agent, Port Charlotte, FL
Tue Aug 12, 2008
Hi Sharyn,

That's kind of a difficult question to answer, especially not knowing your whole situation. If you say you've always wanted to retire to Venice, then I think that you may have answered your own question.

It would be wise to take a trip down here to get a good look at the different communities. As you know the home prices and rates are at all time lows.

You can do some of the initial research on my website listed below. I have every community in Venice, pictures and a list of homes in each community. I would be happy to help you in your search for a new home in Venice. If you decide to rent a property, I can help you in that direction as well.

Roxanne Moore, Realtor
Re/Max Anchor Realty
941-626-3926
twomoores19@comcast.net
http://www.TropicalFloridaProperty.com
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