Real Estate Blog
Monday, March 16 2009
The speed of economic news these days is staggering, and it can be difficult to understand how all this affects the Three Village area real estate market. To offer some perspective, here's a brief snapshot of some current events as of Monday afternoon.
* The stock market's four-day streak of impressive gains has had everyone at the edge of their seats, wondering how long the good news can be sustained. The market slid a bit on Monday when the rally faded in the last hour of trading, but the decreases were not severe for any of the three major indices: The DOW, the S&P, or NASDAQ. This is good news.
Locally, I have already seen positive changes. All of the above factors seem to be boosting confidence among local residents, and people are indeed making more offers on homes. More buyers are realizing that this is one of the best times in history to purchase a home. Prices are reduced, interest rates are low, and there are plenty of homes available.
On the flip side, sellers are realizing that they have opportunities in this market, too. Although some sellers may feel that they are losing on the sale, they will be making it up on the purchase of the next home. This is a classic wealth-building strategy.
As always, I'll keep you posted. Be sure to check my website at www. ardolino.com frequently, where you'll find updates at my blog.
Meanwhile, if you have any questions, contact me at Michael@ardolino.com. As your local real estate expert, I'm happy to share my thoughts.
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CopyrightC 2009 by Michael Ardolino