SHOULD I BUY NOW OR WAIT UNTIL THE PRICES DROP MORE?
I hear the same line of question from clients and Real Estate agents. The one that catches my attention the most is "Should I buy now or wait until the prices drop more?"
The answer is simple, if you find a great property with the right location and price and you have the means to buy it, go ahead and start enjoying it now. Exclusive and Unique properties in prime oceanfront areas are limited. Such a rare commodity that is available today might not be available tomorrow. Of course you may argue that there may be others in the future, but if you found "the one" and the price is right, then what are you waiting for?
There are not going to be so many properties that you will fall in love with. So, if you have already spent your time and effort to find the perfect property for you and your family, my advice is to act now.
If you wait, the market could suddenly turn around. It's a simple law of supply and demand, just like the price of gasoline!
Real Estate is highly fragmented, I cannot speak for every area, but I firmly believe that the prices of luxury oceanfront properties in South Florida have bottomed-out. This is my are a of expertise, I am constantly analyzing and visiting properties in this area, getting input from hundreds of clients and real estate professionals on a 24/7 basis regarding the market conditions. This makes me a little more knowledgeable than your Attorney in Chicago, your Accountant in Wichita or your Overseas Banker. It seems to me, that some people are waiting for a subliminal sign or an official New York Times announcement that the market "has bottomed-out".
Meanwhile, at this very moment, shrewd investors are cherry-picking the best properties available. There are very good opportunities out there. Today's Real Estate marketplace is like a giant buffet ready to be eaten. So what are you going to do? Be first in line and get the lobster? Or wait, be second-in-line and get the leftovers.
Contact me now for a complete analysis of the best opportunities in prime South Florida's oceanfront locations.
Gustavo Farfan
GLF Properties
www.glfproperties.com
HRP Realty Services
gustavofarfan@vzw.blackberry.com
You can find great local
Sunny Isles Beach, Florida real estate information on Localism.com Gustavo Farfan is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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Greetings Gustavo:
You are on the right track! I too firmly believe that the luxury oceanfront market has bottomed out. There are indeed many virtually identical condominiums in our market area- several have never transferred from the developer too. I've seen some really great deals and incentives offered by both developers and individual owners. If the price is right and the apartment meets a buyers criteria and expectations- NOW seems to be the time to jump in.