With all the turmoil and FEAR in the world right now, it's reassuring that today's news releases support what we have been telling our clients all along!
Quoted from CNNMoney.com:
Pending home sales show surprise rise
The National Association of Realtors says pending home sales increased 7.4% from July to August; highest since June 2007.
WASHINGTON (AP) -- The National Association of Realtors says pending home rose 7.4% from July to August, an unexpected piece of positive news for the battered U.S. housing market.
The group said Wednesday its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July reading of 87. The reading was the highest since June 2007.
Wall Street economists surveyed by Thomson/IFR had predicted the index would fall to 84.9.
The index, which sunk to a record low of 83 in March, stood at 85.8 in August 2007.
We have to say it, we told you so!!! Just look at the last post on this Blog!
The good news is, those with money and those with market savvy know... When prices drop, that is when you BUY new investments! We are not licensed financial advisers, and cannot give advice... but common sense can tell you that when prices are low, and if you've ridden this slide to the bottom... wait for the turn around!
SMART money seems to be going into new real estate investments, which are undervalued, especially income properties worth holding over the long term!
No comments:
Post a Comment