Gary's Blog

Friday, October 9, 2009

Best Sales Report of 2009

Americans are finally spending a little more- A tally of sales at top stores posted a gain in September for the first time in more than a year, according to Goldman Sachs' International Council of Shopping Centers.

New jobless claims fell to the lowest mark since January. Also, the Labor Department said yesterday that the four-week average of new claims for unemployment insurance is the lowest since January 17.

One more positive item: Federal Reserve Chairman Ben Bernanke plans to keep the Federal Funds rate, still at a record low near zero, and was quoted as saying they will keep it there for "an extended period of time". These super-low rates will entice people and businesses to spend more, nurturing the budding recovery.

Folks, when is the best time to buy real estate? When the market is low. Sellers are hurting right now. Many of them cannot wait for the rebound. If you have cash on the sidelines, now is the time to put it to work. Ten years from now, everyone will know you as the "visionary" of the family!

The California Association of Realtors is reporting a strong sales rebound taking place as we speak. And as we all know, Maui real estate follows shortly after the California market.

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