"Home prices continued their plunge during the last three months of 2007, setting a real estate trade group's record for the biggest-ever quarterly drop. .Here's the NAR spin: last week I got a letter from a local Re/Max agent -- she managed to snag my address from a local organization to which our family belongs.
The national median price drop of 5.8%, to $206,200 from $219,300, was the steepest ever recorded by the National Association of Realtors (NAR), which has been compiling the report since 1979".
The heading (next to the Re/Max balloon is the quote: "To be well-informed is to have the world at your fingers." - Joseph Jones)
"Dear [Harriet's family],
Did you know that 2007 was actually the fifth highest year for home sales in history? Everything is relative and 2007 stands in stark contrast with 2006 but there is always a good time to buy and a good time to sell. Take a closer look at the numbers and you will discover that the state of the real estate market may not be everything the media leads you to believe. Sometimes we all need a little historical perspective to see the big picture clearly. Fortunately, I did all of the research and analysis for you already.
. . .
Nearly one-third of vacation homes are being purchased with the intent of becoming a full-time residence upon the buyer's retirement. With today's mortgage rates, buying a vacation home is a great option to consider. The potential rental income from the property can help pay the mortgage."