Falling prices for Palm Beach County condos present a real opportunity this spring for many consumers wanting to find that perfect vacation property.

Overall, median home prices fell 7.7% in 2007, according to the S&P/Case-Shiller index. Domestic and international buyers in markets with a strong vacation home component as experienced with Sarasota and Boca Raton FL real estate were down more than most.

Real estate experts tell us that the market is soft. And mortgage rates are down to 2004 levels. Even better. Is now the time to buy? Could be. There may be more economic and psychological questions that come with a Florida second home purchase than with a primary one.

For piece of mind, and for a boost to your future net worth, always do a rough cash-flow comparison of buying a Florida vacation home or condo. Look at how much it’s going to cost to pay off the mortgage and pay for taxes and maintenance vs. the cost of renting. If you’re not planning on being in your house for at least seven to 10 years, you probably won’t recoup your investment. You could be better off renting for a few weeks (or months) every year.

Looking for a home in Boca Raton FL Real Estate? Visit the Boca Raton Information Guide, then call Realtor® Caesar Parisi when you are ready to buy your dream property.

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