The Financial Capital of the World
September 28, 2008
That title used to belong to New York City. But now it appears as though all eyes are on Washington, D.C.
Officials, elected and otherwise, of our Federal Reserve Bank, and of our Federal Government, are convening daily to devise strategies to bail out our ailing financial institutions.
It’s amazing to see the list of companies in trouble or shut down. Lehman Brothers, Merrill Lynch, AIG, Countrywide, and Washington Mutual are among the largest and best known companies that have ceased to exist in their previous form, thanks to the crushing effect of bank foreclosures nationwide, and to the high-risk financial shenanigans played by these “titans” of Wall Street
How does all this affect Danawoods? Actually, our neighborhood is holding up notably well! Sure we have had a short payoff or two in the couple years. And no, Danawoods is not an island – prices have fallen here from the peak of the market. But Danawoods has enjoyed a relatively low turnover in this market cycle, and as a consequence, it is among the most stable neighborhoods in Dana Point!
It’s a buyer’s market, for sure. But if you need to sell a home, in Danawoods, or elsewhere, call us. We’ve been through market cycles like this one before. We know how to maximize your equity through proven strategies designed for today’s challenging real estate market.
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