Buying Real Estate in Clearwater, Florida

This is actually a very good time to buy real estate in Clearwater, Florida. Pricing has come down up to 25% with many properties.

There was the insane run up in prices from 2004-2006, but that run up has caused buyers to stay away from the market. Sure, there are still sales. But, the sales volume is down around 30%.

Buyers of real estate are always skiddish when they believe prices are going to drop even lower. That is understandable, but keep this in mind: when sellers find out that the bottom has been reached and prices are starting to rise again - they will not be very willing to take a bit hit on their price.

One major difference between buyng real estate in a buyer's market and buying stocks - you can always bid lower than the asking price. I have seen a seller with an asking price of 1 million, accept 790K. Real estate is really a market driven commodity.

In Clearwater, Florida it is no different. Now is an excellent time to grab a piece of Clearwater Beach. There are so many properties for sale - you can almost name your price.

Here is another real example: I know someone well that has a condo for sale in the luxury Belle Harbor on Clearwater Beach. The condo next to hers was purchased about 2 years ago for 1.4M. The view on that one was somewhat better, so he figured his was worth 1.2-1.3M. He started trying to sell it for about 1M about 1 year ago. Now he is down to 712K and will probably take less.

I hope you see that now is a much better time to buy real estate than stocks. The stock market is not likely to go up another 20% in the next year or two. Real estate really can be a good investment, if you buy low enough.

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