Should I Buy Now or Wait? Buyers Still Sitting on the Fence

 

Should I buy now or wait, Brevard County FL Real Estate

Here in Brevard County FL we see some homebuyers still sitting on the fence…not sure what to do.

"What should I do?," they ask.  "Should I buy now?" "Should I rent?" "Should I wait?" "Has the market hit rock bottom?"

In many of our neighborhoods prices have been going up for sometime now. No one knows how long they will continue to rise. New home construction is also on the rise.

What is a buyer to do?  I wish I had a crystal ball.  Then, I would be able to answer these questions, with certainty.  But, it seems my crystal ball broke years ago.

A couple of years ago, all the talk was about the 5 million homes sitting in shadow inventory across Florida ( those houses in some stage of the foreclosure process that had yet to hit the market).  And, then it seemed that no one was talking about them, anymore.  Then, the market started on an upward swing.  One thing we do know, is that the real estate market is cyclical.  And what goes up, will come down, and so forth.

My question is, What are you waiting for?

Real estate prices are on the rise and interest rates have increased, also.

How much higher will prices and interest rates go? No one knows.

I did a little research to see what’s available in Brevard County.  Right now, here is the breakdown in the number of properties for sale at various price points:

$            0 – $100,000    1087

$ 101,000  – $200,000    1095

$ 201,000 – $300,000       716

$ 301,000 – $400,000       347

$ 401,000 – $500,000       194

In our current market 57% of the properties listed for sale are priced at $200,000 or below!  And, interest rates are still historically low. How can you beat a rate under 5%?  No one knows just how long they will stay that way.

You know how often people say, "I could have bought that property for x amount of dollars, 20 years ago"?

Well, just remember then is now.

Don’t wait too long…remember, hindsight is 20/20!

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Melbourne FL Real Estate, Sandy Shores, Realtor

Sandy Shores, Broker Associate, Brevard County FL Real Estate

Sandy Shores, Broker-Associate

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Brevard County FL Real Estate 17 Years

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