Re: What should I offer for an oceanfront apt. in Miami Beachthese da
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Don't offer nothing for it. We are at the end of a very serious housing bubble and it will probably blow up big time.
If you must, listen to what apex said about 50%. The best thing you can do is wait at least 6-12 months. I promise, you
won't get hurt. Forget about 20%, it is not enough to cover your downside risk.
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I don't see any problem with buying now if you plan to hold the condo long term. As for downside risk, who knows. I don't believe in timing RE markets. If you get the condo for a very good price (i.e., 20% or more under fair market value), you'll probably be insulated from from any potential downside anyway.
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