Quote:
Originally posted by rammstein
Not sure what your time-frame is, but its a great time to be a buyer down here. Especially North of Dade. Palm Beach County is downright cheap- you'll get a great house, and you will never regret coming to FL. Its great, and like you said, flights are cheap.
I don't think you'll see more of a decline after another 6 months down here, but I wouldn't feel rushed either. The correction more or less happened, with a bit more to go, but it won't spike back up- no reason to.
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That's the thing.
I figure by the time I sell my house the FL decline will have leveled off and even if it dips more it'll be insignificant so I don't forsee the need to rent.
Market sucks up here as well. A year ago my house would have lasted a week on the market. Today it'll probably take 3 months to go. There is just so much inventory out there. And near as we can tell we lost $50-75k in value on our house already.
My fathers house has been on the market for 6 months, old Colonial that is absolutely perfect in every way but the bedrooms are small which kills you today. The most comparable house in his area sold a year ago for $30k more than we think we can get for my fathers. House had 1/2 the property and without the 1800 sq ft my father added onto his.
We figure we are loosing $80-100k on that one.