Let’s not kid ourselves. Prices for homes in Orlando have been plunging. So is it time to buy or should you wait a little longer?
A recent article on MSN Real Estate entitled 66 Cities Where Buying Makes Sense included Orlando as one of the markets where buying makes sense now. The article reminds us that homes are not “get rich quick schemes” and prices may still drop a little, but you’ll avoid losing money on your home.
It’s impossible to time the market perfectly. I would have bought everything under the sun in 2004, sold everything by 2006, and be sipping margaritas on a white sandy beach in the tropics if I only knew. Real estate is really a long term investment and I personally feel the prices have dropped enough to the point where you should be fine in the long run.
Homes prices in Orlando have definitely dropped in the past 4 years, but you’ll be happily surprised to see that most homes have appreciated if you look back the past 8 years.