by Brad Officer
on Monday, August 30th, 2010 at 11:29am.
Question of the month: Is it a good time to buy a home in Florida?
Much of the web traffic BradOfficer.com receives is from out of state home shoppers looking for waterfront homes in Jacksonville, beachfront homes, oceanfront in Ponte Vedra, etc. Inquiries come from all corners of the U.S. often asking questions about specific properties being showcased on the site, questions about the area, and questions about the market.
I've been getting the question above more often in the last few months as many are starting to think it may be a good time to make a purchase.
Top 3 Reasons why it's a good time to buy real estate in Florida
As one of my mentors says: "It's always a good time to own real estate". Real estate is not the stock market and the values aren't to be traded around every couple of months for gains and losses. Instead, real estate is a long term investment that carries quality of life. Sitting on your dock with a fishing pole and a beer at sunset is the quality of life that only a real estate investment can bring.
The Florida lifestyle is very attractive and everyone wants to move to Florida at some point. Based on how many times I've gotten the question above, it should serve notice that Florida always attracts home buyers relocating due to jobs, home buyers just looking for a change of life, or families buying vacation homes. Even in the middle of the great recession, people are still purchasing Florida real estate.
Florida real estate is on sale. There is too much supply for the current amount of demand causing prices to fall. Investors have recognized this as a good time to get in, and they've started picking up houses and condos in all corners of Florida. Sellers, for now, are much more realistic to take a lower offer and even a low ball offer, creating a great time to shop and make offers.
Where to Buy? Waterfront! Waterfront demand continues to grow. The more people that move to Florida = the more demand for Waterfront. Just living in Florida gets you into the Florida lifestyle, but if you are really concerned about demand for your home in the future: Forget moving out to the middle of nowhere so you can have a bigger pad, instead choose a hot location with waterfront or near water access. Types of hot waterfront locations in Jacksonville, Ponte Vedra, and Orange Park: waterfront, riverfront, intracoastal, beachfront, walk to beach, and communities with water access.
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