Posted on : 30-04-2009 | By : admin | In : New Home For Sale
Although you know you eventually want to move to Florida, relocating might not be in the cards for you yet. Maybe you still have ties your community that you are not ready to break. Or, maybe you or your spouse is still working in order to rebuild your retirement savings or achieve full vesting in your pension plan, if you‘re one of the lucky ones who still has a pension plan! These are certainly valid reasons to delay your Florida relocating. But if you have the financial ability to do so, you could follow a relatively popular trend amongst Baby Boomers – buying one of the many homes in Florida for sale – houses you can buy now in the place you would like to eventually retire to. Then you can slowly make the transition of spending more and more time there until you are ready to make the move.
However, don’t wait too long to make your decision. Right now, Florida is for sale; houses in Florida are incredible bargains. It is an opportune time to buy for several reasons. First, the real estate market has seen prices drop to incredible lows; some Florida counties have seen prices drop over 50% in the last 2-3 years. You will be able to get more home now than you could have afforded just a few years ago.
Median Sales prices of Condos in Fort Myers-Cape Coral have dropped from $193,800 in August of 2008 to $126,400 in August of 2009.
Condos in Fort Lauderdale, are showing a median price drop to $85,900 this past August from $133,300 in August of 2008.
Single Family prices have dropped as well.
Home in Fort Myers-Cape Coral have seen the median price drop from $146,900 in August of 2008 to $89,300 in August of 2009.
Home in Orlando have dropped from $204,400 in August of 2008 to $144,200 in August of 2009.
The market will recover eventually, in fact, recent reports show an increase in sales and in sale prices. If you purchase your vacation home in Florida now, you may find that you have a great deal of equity by the time you are ready to make your move relocation permanent.
Consider purchasing now and renting your home. If you treat it as a business you can swap it for another home in the future and take advantage of a tax deferred 1031 exchange, which will defer your taxes on the gain. You can continue to ‘swap’ your home for as long as you want to, building more and more equity in a home that you will eventually move into yourself.
Buying one of the many homes in Florida for sale – houses that are rentable – then taking your time relocating to Florida could be a good idea too, because the process of moving all at once can be rather stressful. Leaving a home that you have spent a great deal of your life in or raised your family in can be an emotional event, so by spending some time in the Sunshine State each year and “moving to Florida gradually,” you can ease or eliminate much of the trauma that an all-at-once move could cause.
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Help answer the question about sale house
How should I put an offer to a short sale house?I live in central NJ with still high real estate market, but plenty of foreclosure and short sale.
There is a house listed for 509k in short sale. It seems to be in good condition in a nice area. So I was wondering how low offer should I put on this house?
About Author
Maria Norton is the creator of Florida-Retirement.Net, a website designed for those who are considering retiring to Florida or buying second homes there. She is a licensed real estate broker and a 20 year veteran of the Relocation Industry. She provides comprehensive, personalized & free, Florida Relocation Services. To learn more and decide if you want to buy one of the many homes in http://www.florida-retirement.net”/”>Florida for Sale; Houses you can buy now and rent until you‘re ready to move in, visit her website at http://www.florida-retirement.net
