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November 2008: Market Update

Posted November 15th, 2008 under market updates.

Although slow sales are taking their toll and prices are starting to soften, there is a good side to every situation.

If you are moving from one home to another, price fluctuations make little difference, especially if you are moving up, as the prices keep the same relationship to one another. Those who are downsizing may lose a few dollars in the trade, but generally it is not too damaging.

The real crunch comes for those people who are flipping and are thinking of making big dollars. Some are caught in the downward spiral and might even lose their shirt. Of course, the big winners are the first-time buyers, since they are in a good bargaining position.

Want to know more about the state of the market? Just ask me, I'll be happy to help.

--Peter

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