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With the onslaught of woes in the news, the housing market, at least in the Capital District ,"isn't that bad." Yes, sales are down double digits from last year, however, the prices that have been realized for sold homes has remained  fairly steady from 2007. Here are some facts taken from the Greater Capital Region Assoc. of Realtors.

Albany County:     YTD As of 8/31/08         YTD as of 8/31/07

    Closed sales           1396                         1708              -18%
    Average Price         $233,212                    $241,076         -3%
    Median Price          $205,000                     $205,000           0%

Rensselaer County:

     Closed Sales            800                               875              -9%
     Average Price          $193,308                      $196,605         -2%
     Median Price            $175,000                     $172,000         +2%

With mortgage rates fluctuating by the minute, prosepective buyers are unsure what to do. Bottom line: ITS A GREAT TIME TO BUY!! Inventory of homes is up, interest rates are fair and buyers with ability to get mortgages are prized!

For advice on when to lock interest rates on your mortgage, please visit the Daily Lock Rate Information on the top of my web site. This is updated daily.