The general consensus just a week ago among many Realtor(R) friends of mine is that many people are resorting to rental's instead of purchasing residences in this market.  They are all getting the same messages from their customer's that they feel the market will continue to decline well into the fall of next year. The customer's are telling their agent's that they are waiting for specific home's that they like to fall into "their category" of possible purchases.

While this could be a good strategy, I am finding that the home's that are dropping into what I see as purchasing customer's right now is under $250K.  These homes in Florida are being picked up by Investor's at 50 - 60 cent's on the dollar. Or, prepared, pre-approved buyer's with 20% down and credit scores over 720 who have an agent who can quickly execute a contract when the price is right. Cash is even better.

Month to month rental's are popular and many people who are trying to sell their home's also have them listed with me for rent (preferably month to month with a good renter at full asking price negotiable for an annual rental). 

The renter's seem to think that as the prices go down, so does the deposit necessary, the closing costs, the appraisal fee's, the Inspection fee's.  Yes, they are all relative, however, unless you are going to go after the new FHA that allow's you to also borrow your down payment (you have to fit certain criteria), you need money to buy a home. You need a checking account, a credit history ( at least 3 lines ), and a good credit score to get a good loan rate in this market.

Why pay for rent when you could own your own home?  The interest rates are low and there is a ton of inventory.

Rent or OWN??? Why or why not? Pro's vs. Con's...opinion's are welcomed....What DO YOU THINK?

http://www.KarenMonsour.com, 954-464-4194 cell