First of all, are you a qualified buyer....and what does that mean to you? Have you been to a mortgage broker/bank/lender and become pre-qualified for a mortgage? You'll find that's the first question most Realtors ask their buyers. Why spend all that time looking at homes that you can't buy? Want to buy a property quickly - and have a seller feel confident in his/her decision to sell to YOU? Get pre-qualified.
Secondly, if you're looking for a condo - you should know that you'll need at least 30% down (plus closing costs) and pristine credit in order to qualify for a mortgage. If not....don't bother looking at condos today. Lenders simply are not jumping at financing condos. Their liability is too great with the potential for multiple foreclosures/short sales.....unpaid maintenance fees, etc. Currently, very few condos in the State of Florida are FHA "approved". An FHA approved property requires much less stringent requirements - and most importantly - a lower down payment to qualify.
Have cash - and don't need a mortgage? Well....this is your lucky day!! You can stand to "win" the home or condo of your dreams - without the hassle of mortgage approvals and appraisals. And sellers will have a hard time turning down a "reasonable" offer.
The economics of Florida real estate is changing. The supply is diminishing. Fewer homes on the market = more demand. Buyers are still getting great deals..and serious sellers are getting more attention. If you've waited for the "bottom".....wait no longer. The ball is bouncing up again!!!!