I believe today's market is a period of real estate opportunity. Sound real estate investing is a long-term process. Real estate markets are cyclical and there is no doubt this cycle will pass. In my opinion Bainbridge Island remains a great place to live and invest: our environment, our community, our schools, our recreation and employment opportunities are tremendous. In 1988 the average price of a home on Bainbridge was $148,166. In 1993 it had jumped to $251,248 and by 1998 it was $342,195! Just five years ago (2003) our average was $481,758 and -- even with the recent pricing corrections -- the average price mid-year was $775,370, a 61% increase over 5 years.
I strongly believe Bainbridge is still one of the safest places to invest in real estate anywhere. Financing is readily available in our market and interest rates are still highly favorable.
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