Absolutely. Why buy now? There are several factors at work when it comes to condo unit values. First, the season. During the summer months, the prices end to stay fairly flat. However, almost as soon as the Winter residents (snowbirds) start their migration to the Sunshine State in October, many decide they want to buy, instead of renting. For this reason alone, the supply dries up and properties become more valuable. Also, finding a Winter rental is becoming very hard. If you don’t have a reservation a year in advance, there is a good chance no desirable locations will be available.
Second, a good percentage of the Winter residents retire to this area. Buying is the best route to take after selling their home in another state.
Third, interest rates are still near historic lows. A 30-year fixed-interest mortgage is still averaging 4.2%!
Fourth, jobs, jobs, jobs. We lost the Space Shuttle program in 2011 but have battled back with new airplane manufacturing/design plants (Northrup Grumman and Bombardier), aerospace companies (Space-X), and construction (both housing and infrastructure).
Brevard County got hurt very badly in the meltdown of 2008, but is coming back strong. Buy now before the prices get back to their market highs.
You can email John Bond at email@example.com or call him at 321-298-1118.