CanYou See the Bottom?

My friend Pat Savani wrote this great post.

It is probably too soon to be certain, but the bottom is certainly coming into view .

MRIS ( Metropolitan Regional Information System) the large regional multiple list system serving, Washington, Maryland, Northern Virginia, Southern Pennsylvania and the West Virginia pan handle in the Weekly Market Report published February 2, 2009 was full of great news for buyers, sellers and agents.
• The number of active listings for sale was down year over year with the last 3 months average down around 10,000 units.
• The report also showed that the last 3 month average of new pending sales was up 14.6%. The bottom is a hard thing to see but in our region the bottom is becoming clearer and if current trends continue it could be behind us.
• The housing affordability index in the MRIS service area was over 145% as a result of lower interest rates and prices. The affordability index is the amount of income necessary to qualify for the median price home with current interest rates.

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Pat Ogle and The AnnapolisHomes4You Team
Champion Realty, Inc.
410-224-0660
www.AnnapolisHomes4You.com
PatOgle@AnnapolisHomes4You.com

While Past Performance is No Guarantee of the Future.
What Else Do We Have To Go By!