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Buy in a Recession? You’ve got to be kidding…

Actually, we’re not. First-time home buyers and investors: yes, we’re talking to you.

The FHFA released it’s report in late November of 2008, citing some interesting data. While the following may sound like gloom and doom, it’s actually quite the opposite!

  • Over the past year, home prices fell 6% between Q3 2007 and Q3 2008
  • The FHFA’s All Housing Price Index fell 4% over the past 12 months
  • Both of these drops are record drops in the housing indicies that the FHFA tracks.

Given that data, home prices are current at historic lows. Inventory is high. REO properties are plentiful. Now is the time to team-up with your Realtor and start looking for bargains. 

Just because prices are low doesn’t mean everything is a bargain. Work with your Realtor to establish your budget, clear-up any financing issues and determine your needs before you begin shopping. Once these three things are sorted-out, you’re well on your way to finding homes that meet YOUR needs, not a seller’s.

Want to learn more about REO properties or foreclosures in Montrose, Ridgway, Ouray or Telluride CO? Contact San Juan Realty, Inc. today and one of our experienced brokers will sit down with you to map out a plan custom-tailored for you!

Wondering what your current home is worth? Give us a call and we’re happy to do some research for you.
Ready to begin searching for your Ouray, Montrose, Ridgway or Telluride CO home? Use our simple search engine to find the perfect home!
 


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