There has truly never been a better time to think about buying a new home in South Florida, whether it is a second home or your primary residence. The current economy has created a buyers’ market like never before in the real estate market. This works to your advantage, and the fact that the real estate market is recovering means, buying that Jupiter real estate as a primary residence or financial investment is a smart move on your part. A surprising number of potential home-buyers are holding off on buying homes in Jupiter real estate. They see the housing prices fall and are waiting for them to go lower. They see the mortgage rates and are waiting for them to drop further. If this is sounds like you, you might want to rethink and reformat your strategy and take a real close look at the current Jupiter homes for sale.
Builders are faced with unsold homes in new places like Mallory Creek at Abacoa or Paloma in Palm Beach Gardens, and are willing to make killer deals with the smart buyer. They are interested in all reasonable offers, especially if have a pre-approved financing or you are a cash buyer, and will negotiate with your Jupiter real estate agent to give you a good price and terms. It is in their very best interest to get their existing homes sold so they can stop paying their construction loan costs.
You can also take advantage of the low mortgage rates to get very affordable payments on your new Jupiter real estate properties. These low rates won’t last forever, so if you have a solid employment and good credit, now is the best time to buy. The Federal Reserve had already started implementing a plan to phase out of the mortgage program. With the Fed program closing, it will no more be a question of whether mortgage rates will rise, but when, how fast and how much it will rise. The experts do not expect them to climb very high, stopping somewhere around 4% by December of 2017.
The Jupiter real estate market is getting stronger by the day and attracting investors from around the world. Over the course of the next few years, it will become increasingly more difficult to buy Jupiter real estate at rates and prices now available. It is very possible that the market will never be better than it is right now for buyers. It is a buyers’ real estate market, with the scales tipped to make home ownership as cheap as possible. If you can afford to buy now, it is advisable that you buy it now. However, if you are waiting for things to get even better, might find yourself paying more than you intended for that great piece of Jupiter waterfront property, house on the golf course, oceanfront condo, or priced out of the Jupiter real estate market altogether.