It's a great time to buy in Florida

[Ohio Girl]

In my opinion, I'm not sure that it's the feeling that people are waiting for the bottom to hit but more of getting the selling price correct. In my little pea brain, I can't possibly see the justification of someone trying to sell a 600 square foot house built in the 70s for 399K near Lake Powell. I mean come on. That'll buy you a nice, little McMansion where I'm from.

 

[SHELLY]

I have a question for Shelly et al:

When is a good time to buy here?

When it fits well within your financial comfort level; when it meets the needs of your family; when you don't give a crap about its "investment" potential and you don't feel inclined to ask a third party for their opinion/permission.


.

 

[Joe Mammy]

Ding Ding Ding!! Was that the bottom bell? More here...

 

[Bobby J]

It all reminds me of the draw bridge theory. I got mine, and the bridge is going to close up for the rest of you. Don't buy here! The taxes are too high! The insurance is too high! Florida is a mess! Don't trust anyone! Sharks are everywhere! Prices are too high! Planes drop out of the sky!!! Hurricanes everywhere! Too low! Too high! Mortgage fraud! Government keep your nose out, or Florida will sink into the gulf! Now Starbucks! These damn blue signs! Help! You better not come here, lord knows you could get malaria! Have you not heard of the wild hogs! Also look out for the Newberry Gangs!

 

[Bobby J]

I forgot the rip tides! Sorry!

 

[Matt J]

I have a question for Shelly et al:

When is a good time to buy here?

I don't mean- predict a date/time. I mean- what universes need to be lined up for you to personally think it really is a good time to buy?

What would make you stop ribbing the agents for saying it is a great time to buy and actually utter this phrase as well?

Pls turn sarcasm and negativity off before you post...

Thanks.

GW

IMO the reason we rib the local agents about the "Now's the time to buy" slogan is that it seems to be used as a blanket statement for anybody who got a little bored and said to themselves, "Hmm, I wonder what a house would cost, should I stop renting" etc. My problem with it is the fact that each home purchase is different and should be looked at differently by each person. Now is the right time to buy can apply to different people in many different situations.

 

[Geo]

Geowickey,
On another thread I presented some very discouraging news about the market as a whole in Sowal. I have disagreements with the "It's a great time to buy" slogan that NAR continues to spend my dues on. I know it is designed to help those sitting on the fence make a move. I meet people all the time that are looking for the bottom. If you remember what real estate was about before the flip fest such aswhen you bought your first home, you probably thought of purchasing your home as an investment in your life and not so much a move to improve your bottom line. I am a firm believer that you shouldn't put your life on hold over this stuff. If you are like most of the people I meet, you probably purchased/moved here because you had had enough of the daily grind and were going to enjoy your time on earth here and NOW, and you were willing to live your life by your own rules. Make sure you are aware of the market that your entering but understand that this market will correct when people see their investment as an investment in their life or their family's life and not so much as a bottom line move. People need to stop looking at others and outside data for answers and ask themselves, "Is this the right thing for me at this time?"

Now we're getting somewhere! Thanks Joe. This is exactly where I was hoping this would go even if it only for a brief moment (when SHELLY swims on over)...

******************************
EDIT- SHELLY and others have posted some very reasonable remarks while I was typing this. Kudos to you all. Now back to what I originally wrote-
******************************

I bought a little over a year ago (January 2007) using the following criteria:

-I loved it
-I could (just barely) afford it
-The same place on the same block sold for $200K more two years earlier

I considered then (and now know) that I could have gotten it for cheaper if I waited 6 months to a year. But I also considered that a year could go by and the prices *could* have gone up and then I would not be able to afford it...

And I considered then that if I waited 10-15 years to move to the beach from the midwest that I would likely be better off financially and in a position more along the lines of what SHELLY would recommend. But I also considered that it is possible that I would be even less able to afford it then if the market appreciated at a rate proportionally higher than my expected gains...

So we went for it. We jumped. And I gotta be honest- SHELLY's remarks scared the hell out of me when they started to come true. But when I am having a beer watching the sunset, when I am playing with my kids in the sand, when I am walking my dog at sunrise and sunset-

I know it was a great time to buy...

 

[TooFarTampa]

It all reminds me of the draw bridge theory. I got mine, and the bridge is going to close up for the rest of you. Don't buy here! The taxes are too high! The insurance is too high! Florida is a mess! Don't trust anyone! Sharks are everywhere! Prices are too high! Planes drop out of the sky!!! Hurricanes everywhere! Too low! Too high! Mortgage fraud! Government keep your nose out, or Florida will sink into the gulf! Now Starbucks! These damn blue signs! Help! You better not come here, lord knows you could get malaria! Have you not heard of the wild hogs! Also look out for the Newberry Gangs!

 

[Bobby J]

Now we're getting somewhere! Thanks Joe. This is exactly where I was hoping this would go even if it only for a brief moment (when SHELLY swims on over)...

I bought in January 2007 using the following criteria (man, I am setting myself up here):

-I loved it
-I could (just barely) afford it
-The same place on the same block sold for $200K more two years earlier

I considered then (and now know) that I could have gotten it for cheaper if I waited 6 months to a year. But I also considered that a year could go by and the prices *could* have gone up and then I would not be able to afford it...

And I considered then that if I waited 10-15 years to move to the beach from the midwest that I would be likely be better off financially and in a position more along the lines of what SHELLY would recommend. But I also considered that it is possible that I would be even less able to afford it then if the market appreciated at a rate proportionally higher than my expected gains...

So we went for it. We jumped. And I gotta be honest- SHELLY's remarks scared the hell out of me when they started to come true. But when I am having a beer watching the sunset, when I am playing with my kids in the sand, when I am walking my dog at sunrise and sunset-

I know it was a great time to buy...

WoW! He gets it! Good stuff! (I hope it is ok for me to be happy that you bought something. I am an agent)

 

[TooFarTampa]

Geowickey: As CCK's tagline says, "If you are lucky enough to live by the sea, you are lucky enough."