It is still cheaper to own than rent in most of our markets right now. According to Trulia, it is 51% cheaper to own than rent in the Orlando marketplace.
Keep in mind, with an FHA mortgage buyers can purchase with as little as 3.5% down. A 640 minimum credit score required…and folks that were foreclosed on may qualify to purchase FHA in as little as 2 years after the foreclosure date.
Sale prices are on the rise, and demand is steady….Although people can speculate and forecast all they want, there is no real knowing how long this will all last. Been on the fence? It truly is time to jump off and buy. Like they say, get while the getting is good.