In the Miami Herald today, there was an article that gave five great reasons people should buy real estate today instead of waiting. The reasons are below.
• Median home prices in South Florida are back to 2003 levels and some new, never-lived-in property is selling for less than it would cost to build a similar home.
Additionally, the median price for a single-family home -- now around $216,500 -- is starting to come within reach of households earning around the median income in Miami-Dade and Broward counties. That could unleash pent-up demand.
• Interest rates today are at record lows. This could save a buyer thousands more than buying at a cheaper price down the road when interest rates may be higher.
• There are eye-popping bargains out there due to foreclosures and short sales. The excess of homes and condos on the market also means prices are low.
• A new $7,500 tax credit is available for first-time home buyers until July 1. This can be used to offset the cost of a down payment.
Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com
Monday, February 16, 2009
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