Quote:
Originally Posted by Normal
Very much spot on. Two things to mention. The first is interest rates do matter. More than half of all homes bought here are financed. Secondly, there seems to be an uptick in view lot new construction. There is a lot of water south of 44.
I still see depreciating housing prices till summers end. The Fed won’t cut interest rates anytime soon. Waiting doesn’t hurt a bit. If you bought now, we still have a ways to go till the bottom on prices. Houses are for sale EVERYWHERE!
|
Been a while since I read through this thread, but if you are waiting for interest rates to drop, I think that is a mistake. If prices are low now, when rates drop the prices will immediately increase. You can refinance an interest rate, you can't refinance the price. Just my opinion. Of course timing is everything and the exorbitant closing costs in Florida also need to come into play. Not sure how bad closing costs are on refinancing.