Mish's Mike responds to my query thus:(so he is covering both sides, which only make sense in his business)
........In some markets prices are off 20%. As far as waiting. If you find the perfect property at the right price, I recommend buying it. If you wait, you might miss the location you want. Moreover, there are some tremendous buys on the market. Many of these homes will not go lower, as they are priced very low. Instead, these are the homes that will sell first. My advice to all of my clients is not to wait if you find the right property, but certainly take your time since there is a lot of inventory.
For good properties in good locations, prices will depend upon the inventory. In the best locations, there is no oversupply of inventory, as there are buyers ready to step up to the plate. One of the big problems we are facing, is that the builders built a lot of crappy inventory in mediocre locations with lousy upgrades and low perceived value.
If we can help you in Florida, please feel free to call.
Mike
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Mike Morgan, Broker-Owner, REALTOR®, J.D., GRI, e-PRO, QSC
Morgan Florida Real Estate Group
'Attentive and Responsive Services'
941 SE Central Parkway - Stuart, FL 34994 |
