Buy now or wait? (foreclosures, income tax, sales, housing)

[StreetSmarts]

Should I buy now, which is probably nearing the top of the market here in FL, or should I wait til after the election and **** hits the fan again as we will surely see a major drop off in sales and activity?

[FalconheadWest]

Let me pull out that magic, crystal ball...

[RestArea]

Originally Posted by FalconheadWest

Let me pull out that magic, crystal ball...

Is that the one you have to turn upside down to read? If it is, it should work as well as any other.

OP, my advice is to follow the Kingston Trio's motto, "When in doubt, go ahead."

[John7777]

Wait. We're at the beginning of a major recession and this time, the Fed is out of ammunition. It should be fun to watch.

[FalconheadWest]

Originally Posted by RestArea

Is that the one you have to turn upside down to read? If it is, it should work as well as any other.

It's the kind you shake up and then read the little triangle that pops up...

[Restrain]

All markets are local. Even when the housing market tanked in FL, CA, it didn't fall in Texas, etc.

As to Florida given your location, I am seeing 12-15% increases (actual compared sales) in SW FL. The reason is two-fold. First people in general are moving into Florida and they need a place to live. Florida is now one of the fastest growing states. Also, with the lack of an income tax and low cost of living compared to other areas, Florida is an attractive area to move to. Second, the excess inventory that was built during the boom times has been worked through. Foreclosures are back to normal levels and the homes that were setting waiting for the foreclosures to work through are essentially gone.

So, even though other areas may suffer (New York, CA) if we go back into an economic slowdown again, I think Florida is well placed to avoid it.

[StreetSmarts]

Originally Posted by FalconheadWest

It's the kind you shake up and then read the little triangle that pops up...

Oh, one of my kids has one of those. I should see what it says. Thanks.

[StreetSmarts]

Originally Posted by John7777

Wait. We're at the beginning of a major recession and this time, the Fed is out of ammunition. It should be fun to watch.

That's what I'm afraid of.

[Scooby Snacks]

1. Can you afford to buy? 2. Do you want to buy? If the answer to both questions is yes, then do it. No one can predict the future, no matter what psychics claim.

[FLHfan]

The latest blizzard should push a new batch of northerners to Florida buying up available housing stock.