"Success is simple. Do what is right, the right way, at the right time." Arnold Glasgow
Oh that we could guarantee every move we made was the right one. As Sarasota buyer agents we are continually asked the "crystal ball" questions that all come down to this one sentiment -
"Is it safe to buy now?"
I can rattle off numbers at you. I can give you statistics. I can show you trends. Actually, I have done all that...read through the posts! Yes, it seems that in most cases, it is safe to buy right now. But you need to know what your goal is, and do the right thing to attain what you want.
If you are moving here to live indefinitely (once you get here, I predict you'll want to stay), now is a fantastic time to buy. Although the experts may disagree as to when the actual bottom will be - or already was - they do agree we are pretty darn close. As long as you have good information regarding neighborhood values, you will be just fine in the long run.
If you want to live by water or the beach, now is a fantastic time to buy. Can you get in for $200K? Probably not. But property that was listed for $1m just three years ago is now listed for $400K...this is a fire sale if ever there was one. Beach and waterfront have not lost their inherent value - we simply lost our buyers. But with so little true beach available, it will always - always - retain value. Investment 101- buy low!
If you want to buy and flip property, I would strongly caution you. I understand the draw. Prices in some cases are SO low that it seems like a no brainer. But the market is still not healthy enough to guarantee you can flip a property in a timely manner, especially after you sink money into renovation and upgrades. And even the aforementioned beach and waterfront property is a gamble - high end properties have not been moving the way people expected them to, even at deeply discounted rates.
What it comes down to is this - if a property will make you happy...if it will provide years of enjoyment...if you have always dreamed of sunsets over the bay - this is one of the best times in decades to buy a Sarasota home. If its strictly business, I recommend you build in a good amount of time needed to re-sell the property.
Overall, the view from down here - is looking up.
Tuesday, September 22, 2009
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