We can breath a small size of relief now the that our elected officials have averted a major worldwide financial crisis, but what does this mean to the price of homes and sales in Boca Raton and Delray Beach?
Low interest rates and prices that date back to the early nineties will continue to generate some sales, but the abundance of foreclosures and excess inventory will continue to keep prices at record lows for some time to come. What does this mean for buyers? Opportunity and record low financing for now.
Don't expect a fast killing but over the next 3-5 years it is reasonable to assume that significant price increases could occur. As with all investments in this treacherous world, there are no guarantees, but I believe buying quality properties will be well rewarded.