Orlando First Time Buying Spree

With mortgages so hard to come by, investors who can’t pay “all-cash” are having a hard time scooping up some of today’s “fire sale” deals – which can be incredibly frustrating. It’s like being (a diabetic) kid in a candy store. (I’m diabetic so I know how that feels.)

However since first time home buyers are not subject to the same degree of scrutiny, they don’t generally have this trouble, provided they’re a good, old-fashioned loan prospect. (Imagine that.)

There’s tons of choice, low interest rates and the best prices I’ve ever seen.  You even get an $8,000 tax credit you don’t ever have to repay! A perfect storm if ever there was one.

“If you’re a renter with solid job and a good credit score and you’re not in the market for your own home today, then you belong in a lunatic asylem,” said Marcus Burke, founder and broker for Condo Metropolis. “It’s that simple. I’m seeing condos out there right now that could be paid off in under 5 years with the equivalent of their rent payments. The truth is, if you’re not buying now, then you’ll never be a buyer.”

Hard to argue with that.

1 Comment

  1. I’m reading in the news today that these prices might not last that long since the government is bailing out the banks – which means they’ll be under less pressure to knock out foreclosures at such crazy prices?

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