Buy running to Miami Beach and purchasing a real estate property right now we may encounter the risk that home values will keep falling -- especially for condos. The economy will probably deteriorate further, threatening job security.
Rents are declining as well.
By waiting, renters can avoid paying homeowner and condo association fees that have raised because of delinquencies and foreclosures.
Actual property appreciation could take a long time, therefore if you do decide to purchase, you may want to buy a condo, a home a luxury villa which you are in no hurry to resale.
Lending restrictions may loosen and down-payment get lower.
Contributed by MLR Realty
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