5 Reasons to Buy Mexico Beach Property Now
Five Reasons to Buy Mexico Beach property now
1. Supply and Demand.
You know the old saying…buy low and sell high. There are still some deals on property along the Forgotten Coast but supply is certainly down. For July 2013 there were 192 single family properties on the market in Mexico Beach/Gulf County vs. 222 in July 2012. That’s a 13.5% decrease in inventory while the average sales price rose 2.5% for the same period. I certainly expect to see prices inching up in 2014 as well.
2. ROI has never been better.
The rental market is red hot right now! Pair that with still affordable prices on a Mexico Beach property and you can have positive cash flow on your investment. And don’t forget about all the tax deductions for rental properties.
3. Interest rates are on the rise.
And will probably continue trending upward. A 30-yr fixed is currently around 4.7%, up from 3.55% six months ago. Even at 4.7%, rates are still at historical lows. Many banks have also loosened their lending standards a bit making it easier to qualify. Just keep in mind that if you intend to finance your property, the longer you wait the higher interest rate you are likely to pay.
4. Lot prices & building costs.
Lot prices took the biggest beating during the real estate crash. I mean you almost couldn’t give them away. But lot sales (Mexico Beach / St. Joe Beach / WindMark Beach corridor) for the first eight months of this year were 27% higher than the previous year. Construction labor and materials are on the rise as well so now would be a great time to purchase that lot to build your dream beach house.
5. Life is just better at the beach…do you really need another reason?
Marquardt Realty, Inc.
PO Box 13609
Mexico Beach, FL 32410
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