If you did not listen closely you probably missed it! At the forefront of most media outlets this past week was the ongoing turmoil on Wall Street, but at the bottom of the page in very small print was what should have been the headline, Existing Home Sales Rise by 5.5%! No one wants the public to know this as negative news sells, but the National Association of Realtors reported on Friday that sales actually jumped up in August due to the fact that buyers are taking advantage of lower prices in many markets.
Depending on your situation it really is a great time to buy Real Estate! Here is Ocean City almost 30% of the sales are priced between $200,000 and $300,000! In September Ocean City Settlements were up 11% over September of 2007.
Are we at the bottom? Maybe not. Are we close? Absolutely! If you are looking for a tangible investment that over the long run will appreciate and provide possible tax benefits along with a lifetime of memories? Then call your Realtor and find yourself a great buy!
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