Buy Florida homes Today at 1999 prices
March 24th 2008 11:10 pm
In some parts of the country and in some areas the drop in home values
has lowered prices to where they were 5–9 years ago.
People are still holding off on purchasing a home as they are still waiting for
prices to fall even lower, even though we all know that the peak of
home prices was near the end of 2005 and prices have been dropping
ever since.
The people that are looking at buying a home to live in for a while are
buying for shelter and investment so if they plan on keeping the property
2 years or more then they will probably see a little appreciation by then
but will also have a tax deduction for those years.
They will also see many income tax deductions, depreciation and be able
to write off mortgage insurance if they have an income less than 100k per
year.
This is still a heck of a lot better than renting.
On top off this, rents are
slated to increase due to the new demand based on foreclosures and the
difficulty in getting mortgages because of the tougher lending guidelines.
So hop off the fence and if you are still renting, buy.
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Love that Title…how true it is…and those that are still on the fence need a strong kick before the ship sales.
Great article, Keith.
Gena Riede (1 comments.) on 26 Mar 2008 at 11:52 am #