Tuesday, September 29, 2009

Road To Recovery, Update on Housing Market

We - Americans as a whole - may not feel like we're on the road to financial recovery, but just consider where we were exactly one year ago today: September 29, 2008. On that September day, the Dow Jones Industrial dropped 777 points, the largest one-day drop in the history of the New York Stock Exchange (even larger than Sept. 11, 2001). The main reason for the drop was Congress rejecting then-president Bush's $700 million bank bailout. While the Dow continued to fall into the early months of 2009, it has made a major recovery and the economic outlook is much brighter. After reaching a low of 6,420 in March the Dow has climbed to 9,742.

While the stock markets all show signs of recovery, so too does the housing market. While prices have not yet started to climb, all the signs are there. And interest rates remain at all time lows (4.75% on a 30-year fixed rate).
Currently there are 175 active listings in Dunwoody in zip code 30338. (Click on the Buyer Brief Page to view all listings). I have a fabulous new listings in Kingsley - a 5-bedroom, 4.5 bath for $575,000 (pictured, click on the Buyer Brief Page link for more details). If you know of a buyer, or someone needing to sell their home, please send them my way!

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