We've seen recently that the national, regional and now the local media is filled with the negativity that fuels the panic now paralyzing the real estate markets. Of course they are hyping anything that will sell their valuable air time & newspapers, What they aren't telling you is that in certain markets, home sales are actually picking up.
What's that got to do with Greenwich? Greenwich single family home sales have only been affected slightly by the overall downturn until Wall Street layoffs began to take their toll on local residents. Now we're seeing home foreclosures and bankruptcies being reported in Greenwich.
Home prices will stabilize and increase in years to come. Buying a home isn't just an investment. It's where you LIVE, raise your family and create memories that should outlast any ecomonic trend. If you can buy a home in this market, you definitely should take advantage of the unusual confluence of low prices, low interest rates and highly motivated sellers. please don't regret not buying if you can, especially if you are a first time home buyer who can also benefit from the tax credit now offered in the economic stimulus package now offered.
I've said it all before, but don't listen to me. Take a lesson from history. Greater minds than mine seem to be on the same page. Check out this article that better illustrates my point: http://rismedia.com/2009-02-19/commentary-house-prices-will-rise-greatly-over-the-next-few-years-buy-now/#