Real estate is not dead, although 2008 has been a challenge. During this trying economic time we still feel that real estate ownership is a way of building your wealth. Real estate is a long term investment and this market will come back. To help us with this the Federal Reserve just made it more affordable by dropping their rates. These rates are the lowest we’ve seen in quite some time, this is great news!
Below are the numbers reported through the CCAR MLS on what properties have sold in the month of October compared to the same month last year:.
|
Sold
|
2007
|
2008
|
% of increase or decrease
|
|
Land
|
77
|
31
|
-59.74%
|
|
Residential
|
314
|
273
|
-13.06%
|
|
Condominiums
|
387
|
206
|
-46.77%
|
Certain markets have already seen a up swing, and we feel we will be following in that cycle. The Willis Team feels that by mid year 2009 we will see things getting much better, and we have many plans to make it that way!
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