Some good numbers were released yesterday on pending home resales.
The index of pending home resales rose 7.4 percent, the most since October 2001, after falling 2.7 percent in July, the National Association of Realtors said yesterday in Washington.
Amidst all the negative news, this was a welcome surprise. The data was based on sales that took place prior to the current Wall Street crisis that today saw the Dow close at 8,579.19, it's lowest level since '03.
From my experience, deals have recently been more difficult to close, but there are still buyers out there. If you can get financing, this winter may be a great time to buy a home. The people that will be selling our owners that have to sell. This creates tremendous opportunities for individuals with excellent credit and adequate funds for a down payment. This is an ideal situation for investors with plenty of capital on hand to scoop up deals. If you have capital and your looking for a deal, call me and I will find you something.