You've heard about the silver lining in the cloud. Well, it's here and we are walking around on it. The problem is, we can't see the forest for the trees. Did you kick yourself for not buying Florida real estate before the big run up in real estate? Do you remember saying, "If I only would have bought when the market was down"? Well, guess what? The market is down. The supply of real estate is high. Short sales, pre-foreclosures and foreclosures are abound in Florida and the prices have come down drastically.
You can get a 3/2 Direct Gulf Access in Cape Coral for under $300,000.00. A 4/2 brand new Cape Coral single family detached short sale listed at $179,000.00. A 2/2 bayfront condo on Seminole Isle on Boca Ciega bay in Tampa for $265,000.00. In Miami, a pre-foreclosure 4 bedroom upscale home with a pool, swim out table and six waterfalls has been reduced $150,000.00 to $369,000. This is listed as an "Investor's short sale". In Orlando a 4/2 short sale for $235,900.00. Listing says 4+ BR.
In stock market investing there is one very sound rule, "Buy on weakness and sell on strength". This certainly holds true now with Florida real estate. We are at a weak point now in the market. What's keeping many buyers on the sidelines is uncertainty. No one wants to be a sucker. They are probably saying, "What if I buy now and the value decreases"? Look at it this way. Now is probably not the right time to do short term property flipping, however if you can afford to buy Florida real estate at today's prices and hold on to it for five to seven years how much do you think the real estate will appreciate? If you are thinking of buying a primary residence and plan to reside in it for at least five to seven years, what do you think it would be worth after that time period?
So instead of wondering if the Florida real estate market hit bottom yet, ask yourself how long you plan to hold on to the Florida real estate. Then, ask yourself if you think the market will rebound by then. If the answer is yes, call me and I will pre-qualify you for a Florida mortgage at a low rate and hook you up with one of my best buyer realtors and I promise, you will be pleasantly pleased.
You have two choices. You can save this article for two years, then read it and kick yourself or you can pick up the phone now and call me to get you a great deal on a purchase loan at a low rate. I have 100% financing available. I have loans for self employed, high debt to income loans, high loan to value loans, low score loans, stated income, no income, no doc, alt doc and loans that close on time!
Bill Burress, the founder and principal broker of Cincinnati Mortgage, LLC has 26 years of experience originating mortgage loans and has enjoyed helping people get a good deal on their mortgages. Cincinnati Mortgage, LLC of Florida approves residential mortgage loans throughout the entire state of Florida and approves commercial mortgages in all 50 states U.S. Call Bill Burress today for your confidential consultation at 800-239-1416 or apply now
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Cincinnati Mortgage, LLC of Florida
