s2k_02_12: Buying a house in orlando florida good or bad investment?
We are planning to move to orlando florida and what we have noticed is that houses are really cheap over there very low. My question is, is buying a house there a good idea since the houses are as low as they can be? They might go down a little lower but most likely the have to start going up soon. Is it something that would be a good buy and maybe buy a couple houses?
Answers and Views:
Answer by Ryan AThere was an article on Yahoo this week in which I believe Orlando was listed as a location with one of the highest percentages of “underwater” (negative equity) mortgages. If I remember, about 60% of properties in the Orlando housing market are currently underwater and worth less than what is owed.
Of course, that may be a good thing. It may mean it’s a good time to buy low and hope for the property value to increase in the coming years, but it’s hard to know for sure these days what the future holds.
Good luck.
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