In this day it is not too difficult to find folks who are not upside down on their home mortgages.
Prices are low (relative to five years ago) in most areas of the country – especially in Florida!
In Brevard County Florida the average price of homes sold in January 2010 was just over $149,000. So far in February the average price is about $150,000. This is not very different than the January 2009 average home price of $146,757.
If you are not upside down or can handle the new mortgage (or the loss on a sale now), this may indeed be the time to buy a new home.
Some decide to accept the loss on their current home because they see the potential of making up the loss when they eventually sell the new house or condo.
Call me to discuss the Brevard County real estate market or drop me an email.
Gary L. Waters, Florida licensed real estate agent, Bucci Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region. Whether your interest lies in a 55+ community such as Heritage Isle, a golf course community such as Baytree National Golf Links or water front, give me a call!