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Real estate market at its peak?First-time home buyers possess many advantages that increase their buying power today, despite the otherwise bleak environment and outlook in the real estate industry. The ups and downs of the past few years have yielded historically high housing inventory levels. Interest rates have been hovering around six percent, and lower, since 2006. In 2007, the low turnover of homes resulted in sellers slashing their prices. The downward spiral of the mortgage industry that began last year struck heavy blows to banks and lenders. All this has laid the groundwork for favorable conditions for those families and individuals who have the resources to purchase now. MORE » |


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