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Article: Despite downturn, some deals still surprise.(At Home)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- January 17, 2009
CopyrightCOPYRIGHT 2009 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RECESSION, GLOBAL credit crunch and a tumbling stock market. Falling home prices, languishing properties and weak consumer confidence.
John Savino has had his fill of grim news.
But the real estate agent who markets some of the region's tonier properties will tell you that the smart money invests in real estate - even in a downturn.
"In the long run, it's real estate that rises to the top,'' said Savino, with Prudential Decker Realty.
He's not the only one bullish on real estate.
Buyers of six Oceanfront condos that he sold or helped sell at 921 Oceans Condominiums on Atlantic Avenue in Virginia Beach paid cash for their ...