Triangle Business Today

Now Really Is The Time To Buy...

Posted May 21, 2008 12:13 p.m. EDT

I’ve been saying this for some time – and now the proof really is in the pudding. Right now is a great time to be buying a home here in the triangle. A report released yesterday showed that home sales in the triangle had dropped 24% compared to this time last year – a significant figure certainly... So what does this mean for the hungry home buying consumer?

Well, when you combine interest rates at very attractive levels with an abundant supply of quality built homes, coupled with a very desirable location along with a strong infrastructure of local government, universities, biotech’s and many other strong businesses – you get a formula for success for home buyers.

One interesting and positive note is that while we’re seeing homes in the triangle take longer to sell … we’re not seeing the price reductions that many other areas in the country have experienced. And that my friends is good news for both the short and long term triangle real estate market – proving that the real estate professionals here are doing an excellent job of pricing homes to begin with… and that sellers are doing the smart thing of not disrupting the natural flow of business by falsely reducing prices for quick sales – thereby negatively affecting the markets.

So if you’re a consumer in the market for a new home – you’re in a wonderful position of having a nice supply to choose from with relatively inexpensive money to borrow from… talk to your real estate professional and get pre-approved. Happy Home Buying!!

Jeremy M. Salemson
Corporate Investors Mortgage Group, Inc.

About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.