The questions I am most often asked these days are: “Are we at the bottom?” “Is this a good time to buy?“

These answers are: we are at or close to the bottom. Prices could get down a little bit more, but probably not much. If you and your Realtor know the market and the area, it’s a great time to buy.

In most areas in South Florida, prices are down a little more than a third. If you are considering buying a house in an upscale area, like Coral Gables or Pinecrest, prices were probably the last to go down and will be the first to go back up. If you see a house you really like, be assured that it will also be the first choice of other buyers. If you wait, it may will be gone. If you are buying a house in either Coral Gables or Pinecrest it as your residence, you can be confident that in five years you can expect a substantial profit.

Tags: Real Estate Market, Realtor

Posted on Thursday, June 11th, 2009 at 2:11 pm and is filed under Buy a House. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.