The market isn’t crashing. Now is actually a great time to buy.
Many people are concerned about our market. They think we’re heading for a crash like in 2008, but the truth is that real estate bubbles are very rare. The 2007 housing crisis happened due to the relaxation of lending standards and many bad loans. Today lending rules are much stricter, so a crash is very unlikely.
With rising interest rates, is now a good time to buy a home, or should you wait a while? If you’re renting, the money you’re paying will only go to your landlord’s equity. However, if you buy now, you can start generating wealth and building your equity as you pay down your mortgage. Additionally, buying now will lock in your rate, so you won’t be subject to rent increases imposed by your landlord.
Supply and interest rates are still historically low, while the demand for Florida homes will likely remain high. It’s estimated that 1,000 people will move into our state every day. With all these factors, waiting to buy a home is not the best move.
If you want more information about our Florida housing market, call or email our agents or me. We are always ready to come up with creative solutions for our clients. Reach out to us, and let’s have a discussion!