Should I buy this townhouse..?

We have a condo in St Augustine FL. Purchased in 1993 for 286,000. Oceanfront, 2nd floor. Identical one just sold for 1,2 mil. Talk about investment!!!

I know the Jax area well. If you are looking to purchase and stay a while, I would consider it a good investment. You need to decide - outside of the current market- what is the least/most amount of $ you are willing to spend considering the locations. I would NOT pay 200,00 for condo/home in Palatka but I would for Jacksonville. My mother-in-law was probably looking at the same property last year that you are looking at now. She decided not to purchase there because of her age. She is 65+ and thought it was for the up + coming. Is that you?? Just remember, there is no more oceanfront property being made and if you can get within a few miles for lil money, you are smart. Also see what other property is available in the area for 159 K.

Even if the builder further reduces the prices on the other units in the future, 20,000 wont be much in 5 years. It will be a small percentage compared to it's worth. And your choice of units will be better than someone who is waiting another couple of months to see if they can get a better deal.

Also, how much have others paid for their units? You just might walk out of the signing with more $ than you went in with!! The area is really booming in new construction. The construction on US1 now goes halfway to St Aug. It wasn't like that even 5 years ago. I'd do it in a HEARTBEAT!

I'm a real estate broker in Chicago and I think $159k for new construction is great. It all depends on your plans for the property, do you plan to keep it or sell it? If you're concerned about the market value falling, try to negotiate the price a little more, it won't hurt. If you can get it cheaper why not. But whether the market value decreases or not, you know property values are going to stabilize again and if you hold on to it, live in it or rent it out, you will be fine.

Hi,

Real estate market will continue hit bottom line for at least next six months. But, still this is the right time to buy a property as you may not when the market will start showing up. Checkout http://realestateguide.financialdealsonline.info/ for some valuable tips on the matter. Good luck.

sounds like you're getting a great deal. If you are happy with what you are paying and you love the home, go ahead and buy it. You will live there, right? If this was an investment property for you, you have more reason to be concerned. But as your primary residence, who cares! Will you be moving soon? Regardless, you can't go too wrong on a property that only costs 159k. If you are ready, and willing, and love the property... go for it. http://www.choicerealestate.net/

It actually sounds like a pretty good deal. I would seriously think about it...you don't want to be kicking yourself in four months because you passed up your dream home! Follow your gut instinct and good luck!

Get a Realtor! They can help you make an educated decision.

Is the builder giving you a discount for not using one? I bet not!

Mike ya better buy while it is cheap--- atleast you will have a place to live...#/2.5 looks goods to me... I live in Daytona...