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HOME SALES DROP UNPRECEDENTED 10% IN FEBRUARY! N.A.R. REPORT - BUY APARTMENT BUILDINGS!

By
Real Estate Agent with Thomas Waite Real Estate Broker

N.A.R. REPORT: HOME SALES DROP UNPRECEDENTED 10% IN FEBRUARY!

Sales are down and prices are down...like a...rock?  PRICES BACK DOWN TO 2002 LEVELS AND LOWER!

N.A.R. REPORT: Fewer Americans bought previously occupied homes in February and those who did purchased them at steep discounts. The weak rate of sales pushed home prices down to their lowest level in nearly 9 years.

The National Association of Realtors said Monday that sales of previously occupied homes fell last month to a seasonally adjusted annual rate of 4.88 million. That's down 9.6 percent from 5.4 million in January. The pace is far below the 6 million homes a year that economists say represents a healthy market.

THIS IS THE TIME TO BUY APARTMENT BUILDINGS! THOSE WHO BUY NOW WILL HOUSE THE DISPLACED FORMER HOMEOWNERS FROM THE "GREAT RECESSION OF 2006 - 2020?". 

Many families who lost their homes will VOW "never to lose another home"...which means, lifelong renters.

CONTACT ME TO PURCHASE GREAT SOUTHERN CALIFORNIA INCOME PROPERTY!

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Tom Waite

THOMAS WAITE REAL ESTATE BROKER

PO BOX 3205,  CYPRESS, CA 90630

714-895-2174 Direct; 714-398-8292 Fax  Tom@TomWaite.com

Comments (2)

Ann Bellamy
Hard money lending for investors in NH and MA - Tyngsboro, MA
Lending to real estate investors since 2006

it's like the bottom fell out this winter all over again.  Picking up now, though, I am busy again, with 6 closings so far this month.

Mar 21, 2011 02:08 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Tom, it is interesting that at the same time national sales are down, sales in Florida are up 13% year over year. Of course, we are one of the states with the lion's share of distressed properties and that is what is selling.

Sharon

Mar 22, 2011 05:39 AM