Stock Prices Swing, Interest Rates Decline

    The Dow Jones Industrial Average dropped by more than 400 points this morning as trading resumed on the floor of the New York Stock Exchange after the long weekend.  Reacting to an international selloff of stocks the Federal Reserve cut its benchmark interest rate by three quarters of a percentage point.

   Meanwhile, here on the Pemaquid Peninsula on the coast of Maine real estate prices are at their lowest point in recent memory.  Local banks are very interested in talking with credit worthy customers.  Those home buyers in a position to pay cash for their purchase are finding even better bargains in Maine real estate.

   All the reasons people wanted to live here are still valid.  Beautiful scenery, clean enviroment, small town living with a chance to get to know your neighbors, low crime, good schools, uncrowded golf courses. It's only going to cost more to buy into this market in the future.  So, where do you want your money ?

Jim Cosgrove