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Wednesday, May 9, 2007

Got Cash, Looking for a Home?

Well, it appears as if housing in Pierce County has really come up on some slower times. Price appreciation isn’t as strong as in neighboring counties. With more inventory and slower sales, does this begin to put Pierce County in a more precarious position economically? Certainly the local economy will be affected in some way. But with so many residents commuting elsewhere to work does this really matter? If the only real hit is in price appreciation, would the only people truly hurt by this movement be those with ARM mortgages coming up on rate adjustments? I’m not so sure that I’m the one to figure this out, but it does seem like now is a ripe time to buy a new home if you’re in the market for one. With more housing inventory and slower sales, a cash rich buyer would be sitting in a very enviable position right now.

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