Invest In
Your Nest
Okay, so the housing
bubble burst, home values are plummeting, and the money mavens say it's gonna
get worse before it gets better. What to do? Invest, of course, in the place
you call home.
By:
Lawrence Lanahan Published September 24, 2008 at 02:58
PM
Let's get the bad news
out of the way: Sales of single-family homes in Westchester decreased 26.7
percent between the second quarter of 2007 and the second quarter of 2008,
according to the Westchester-Putnam Multiple Listing Service (WPMLS). As if
that's not disheartening enough, the median price (that is, the mid-point of
all reported sales) of a single-family home also dropped in the same period,
from $700,000 to $674,900. And inventory is up 10.6 percent--that's 443 houses
on the market that weren't there a year earlier.
