Doom and gloom?
The media seems to have all of the answers on this question. Every time I turn around I am reading one news article after another about how bad the real estate market is.Â The good news articles are few and far between. But what nobody reports is that real estate is local. In some parts of the nation it really is horrific but not in Princeton, NJ for instance. Yes, the high end luxury homes here are sitting and prices have dropped significantlyÂ but other homes in lower price ranges are selling and sometimes selling fast. There have even been multiple offers on some properties. I think if you are thinking about buying ask your LOCAL Realtor about your localÂ real estate market. You might be surprised. AndÂ even if you think prices will still fall and you want to wait for rock bottom if you can forecast how long you plan to live in the home you may not realize any loss if you buy today. The longer you plan to stay in the home the more of a chance your investment will be protected. And the good news is that home sales were up in AugustÂ over July.