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Is Now the Best Time to Buy??

  • January 21st 2009

by Mark Wellborn

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The lead story in the real estate section of this weekend’s NY Times looked at a new crop of prospective buyers (those with “jobs and good credit ratings”) who are diving back into the market. The article notes that the bargain prices and low interest rates are luring buyers back, and not just those who received their juicy year-end bonus:

“While the Titans of Wall Street now tremble at the thought of buying an apartment in this faltering real estate market, an emerging group of buyers is brave enough to look the Cyclops of uncertainty in the eye and begin shopping and even sign purchase contracts.

Many of these buyers have never received a fat bonus check, so they don’t miss it now. They did not suffer huge stock market losses, because they didn’t have huge stock market investments. They aren’t mourning the loss of value in their existing co-ops or condos, because they have never owned one.”

Will the new administration also usher in a new home-buying clientele in DC?

See other articles related to: dclofts

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/is_now_the_best_time_to_buy/460.

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