| 20 yrs old 1st time buyer S.FL |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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That's a slick calculator...I effectively pay 4.269%.
Beating that in returns is, literally, a no-brainer...a canned, diversified, average portfolio will trounce that...especially over 30 years.
Additionally, when interest rates are higher, say 8.5% ten years from now, you would be kicking yourself for not holding onto that 4-6% mortgage of today.
"Expect me when you see me."
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Tue Sep 20, 2005 12:08 am |
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forexdaytrading
Full Member
Cash: $ 12.40
Posts: 71
Joined: 14 Jul 2005
Location: Miami, Florida, USA
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teing35, when you say,
quote:
I would be streaching myself too much and I think down here in South Florida the condo market is the one thats most at risk. I hope Iam right and can pick one up 2-3years down the road at bargain compared to today's prices.
you are absolutely right. Statistics say that over 70% of condo buyers in South Florida are not planning to live there. They are investors (or should I say "speculators;" maybe "gamblers" is a more appropriate term  ) The prices of condos in Miami Beach (near where I live) are a joke. People are waiting in line to get into preconstruction projects. The South Florida condo market will take the hit first (in Florida) as well as land. Your decision to wait a few years is a good one.
It is actually cheaper right now to rent than to buy. If you look at price to rent charts, you will discover that we are at close to historic highs. It actually makes no sense to use your money to give a down payment for an extremely overpriced South Florida piece of property right now. Patience is a virtue. Let all the real estate "gamblers" continue to give into the temptation of chasing prices for the fear that they might go higher (this is a characteristic of a bubble market). There are other ways to invest your money right now that don't carry the huge risk that economically sensitive asset classes like real estate do.
Best of luck to you.
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Wed Oct 05, 2005 1:10 pm |
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oojacoboo
New Member
Cash: $ 0.70
Posts: 8
Joined: 23 Oct 2005
Location: Atlanta. GA
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go to new orleans and buy yourself a fix'er'uper. Fix it up, live in it, then turn and sell it a few years from now. If I had 100K I would be there tomorrow. 
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Sun Oct 23, 2005 5:41 am |
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forexdaytrading
Full Member
Cash: $ 12.40
Posts: 71
Joined: 14 Jul 2005
Location: Miami, Florida, USA
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Assuming that the levies don't break again, right?
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Sun Oct 23, 2005 1:56 pm |
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oojacoboo
New Member
Cash: $ 0.70
Posts: 8
Joined: 23 Oct 2005
Location: Atlanta. GA
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yea, true, but I don't think that will happen again. They will learn from that mistake
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Sun Oct 23, 2005 5:22 pm |
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forexdaytrading
Full Member
Cash: $ 12.40
Posts: 71
Joined: 14 Jul 2005
Location: Miami, Florida, USA
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Yeah, I bet. Why does history repeat itself? Because people keep doing the same stupid things over and over! 
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Mon Oct 24, 2005 12:03 am |
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oojacoboo
New Member
Cash: $ 0.70
Posts: 8
Joined: 23 Oct 2005
Location: Atlanta. GA
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well then go to wisconsin and find yourself a lovely place in the wilderness where nothing can harm ya.
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Mon Oct 24, 2005 12:22 am |
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forexdaytrading
Full Member
Cash: $ 12.40
Posts: 71
Joined: 14 Jul 2005
Location: Miami, Florida, USA
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Good one, oojacoboo!
Unfortunately, I am already stuck in South Florida with various properties damaged by hurricane Wilma. Bummer! At least the hurricanes give me time to prepare, unlike earthquakes and tornadoes. Furthermore, Miami, Florida was not built UNDER water. Thank God!
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Wed Oct 26, 2005 3:32 pm |
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