Ocean City Real Estate

Wednesday, September 19, 2007

Dollar weakness. The falling dollar has dangled a big "For Sale" sign in front of property attractive to foreign buyers. Europeans can now buy a vacation home at essentially a 15% discount. That's good for sales. And despite the weak dollar, which ussually leads to higher interest rates, mortgage rates remain attractive. In fact they became even more attractive after the Fed dropped their prime rate 50 basis points yesterday, September 18, 2o07.

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