I have been asked recently by few of my clients if now is the right time to buy or if they should wait and maybe rent for a little while until better days. The question is an easy one to answer and my point of view is pretty simple.
The Real Estate market crash has given us superb opportunity to buy pretty much anywhere in SE Florida at a very discounted price (sometime 50% cheaper of previous indicated value). While the future is never certain I will say that the mortgage rate is at its lowest and if you add the devaluation of the housing in the past few years you can see that it seems like not buying now is the biggest risk you are taking. The property prices have already increased in the past two years, you can now buy a home which has been refurbished for the price of what they were selling almost 10 years ago in original condition. Make your dollar works for you, a mere 2 % interest rate in bank with a small capital grow may seem secure but in fact doesn’t cover the cost of life in the US, our home in most area are increasing 5% a year and you can rent them and have someone basically pay for your investment. Many of the largest fortune in the world have been made with Real Estate and I doubt that they were making the most of their purchase while the Real Estate was high price.
Don’t hesitate to contact me for some help in the making of a Real Estate portfolio, chances are you will be making some of the best decision in your life by not betting on a dark future but more on the return of a good US economy as we had already for many years.