Recession? What recession?

nhboy

Ubi bene ibi patria
County home sales continue to rebound • Top Stories (www.HometownAnnapolis.com - The Capital)

"A six-bedroom Wardour colonial that fetched $5.6 million last month is the third most expensive residential property sold in county history, real estate agents said last week.
By Paul W. Gillespie #— The Capital
This property in the Wardour neighborhood of Annapolis sold for $5.6 million last month, the third most expensive residential property sold in county history, real estate agents said last week.

The broker who sold the 7,600-square-foot Annapolis home said it's a sign the real estate market - particularly for high-end homes - is rebounding after a tough couple of years.

County home sales rose 20 percent in February over the same month a year ago, according to statistics released last week by Metropolitan Regional Information Systems.

"The numbers in our office have doubled," said George Turner, an associate broker with Coldwell Banker in Annapolis. "Since the first of the year, it's just been unbelievable. People that have been looking at these houses over the past couple of years, they may have been able to buy, but they were uncertain because of the economy."

Buyers snatched up 318 homes in February, compared with 265 a year earlier.

The largest number of homes were sold in the Annapolis area, where 71 homes changed hands. The median prices ranged from $387,450 to $590,837 in the three main ZIP code areas."
 

Gilligan

#*! boat!
PREMO Member
The seller bought it for $5.5M in 02/2003.

$100K appreciation in 8 years... Ouch!

Seriously..but anything positive is ..positive, these days. What moronboy fails to realize, because he himself cannot rub two nickels together, is that anyone with money is busy investing in all sorts of distressed properties right now.

I'm going in to two commercial properties and at least one 'rural' undeveloped property simply because to not do so would be to miss what I believe are once-in-a-lifetime investment opportunities.
 
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