SHOULD YOU BUY A HOUSE IN THIS DOWN ECONOMY? YES!

Ok guys, there is no question that our economy is struggling. We have to find a way to make the most of these times. Every day we hear the media reporting of job layoffs and the declining stock market. But there really is an opportunity here to look at the glass as half full!

If there is a silver lining in the otherwise dark cloud looming over the real estate market, it is that now is one of the best times in years to buy a home in almost 30 years. Single family home prices are down. We are seeing longer days on the market last year average DOM for Wake County was 67, this year we are looking at a DOM of 85 and increase of 21%. Wake county closed resales are down 28% from last year. Seller's are a bit more anxious than they were in the past and buyers are benefiting by getting more money off the price of the homes and better incentives, particulary in the new housing subdivisions. And, according to the U.S. Census Bureau, almost 3 million vacant homes — a record number — are for sale. This means big deals are lurking out there for prospective home buyers.

And of course what better place to secure your money right now....real esate of course!