Intrepid home shoppers are venturing back into some of the nation's hardest-hit real-estate markets, convinced they can cherry-pick good deals amid broad price declines.
Among these bargain buyers are affluent baby boomers eager to lock in low interest rates on retirement homes, high-end shoppers who had been waiting for prices to soften and serial investors determined not to miss the boat on a perceived opportunity.
John Brady, a retired publisher of Web sites and newsletters, was planning to buy a retirement home three years from now. But while vacationing in Key West, Fla., in January, he and his wife were stunned to see how far prices had fallen since their previous visit a year earlier. "Places were hundreds of thousands of dollars less," he says. The Connecticut couple paid $800,000 for a furnished two-bedroom condo that had been asking $1.75 million a year ago and was most recently listed at $850,000. "I think we got an incredible bargain," Mr. Brady says.
more here:
http://finance.yahoo.com/real-estate...argain-Hunters
03-24-2008, 10:31 PM
Open Season for Bargain Hunters
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