The Upside of a Downturn ; Buyers Get More House for the Money
The Record, Bergen County, NJ › July 15, 2008
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Summary
Mark and Caryn Stansfield loved the Wayne split-level with views of Pines Lake when they first saw it last summer. But at $570,000, it was out of their price range.
Then the asking price was cut to $499,900. The Stansfields, who had been renting a place nearby, offered $450,000, and ended up buying it for $470,000.See the full content of this document
Extract
The Upside of a Downturn ; Buyers Get More House for the Money
"To be able to look at a place that was $100,000 north of what you'd go for, and to get it for your price with no competition it's great," said Mark Stansfield, a doctor.
Like the Stansfields, a number of buyers find that in the current market downturn, they can afford more house than they could have hoped for a year or two ago. Whi...See the full content of this document
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