Yesterday, the Dow and S&P reached 9 month highs and the Nasdaq reached a 10 month high pushed by auto sales, economic reports and corporate earnings. Coming off the best July in decades, August started very upbeat. In July the Dow gained 8.6%, the S&P gained 7.4% and the Nasdaq rose 7.8%.
The Institute for Supply Management's manufacturing index rose to 48.9 in July, from 44.8 in June. The increase succeeded expectations. Ford Motor gained 2% over a year ago, GM, Toyota Motor, Chrysler Group and Honda Motor, due to Cash for Clunkers all rose versus June levels.
Oil and gold prices rallied and rose $2.13 and $2.90 respectively, Humana and Marathon Oil also showed significant gains.
So, what does all this mean. It looks as though confidence is growing throughout the marketplace. Maybe we havent seen significant leaps yet that will get us out of this recession in weeks, experts still say months, but we are headed in a more positive direction than we were months ago. So it may be a good time to jump back into the housing market. Statistics show recently that buyers are getting back into real estate investing, slowly, but they are finding the bargains and values. The Ridges at Tellico Lake is one of those rare values that seem to come up once every so often. A fractional share in a gorgeous, furnished 2,500 - 4,000 square foot luxury, and award winning home is priced from just $149,000. Select from two magnificent homes with spectacular Great Smoky Mountain vistas, on Tellico Lake. Residents will enjoy boating, fishing, hiking, biking and now a free membership to one of the country's premier golf clubs, and all the privileges that come with membership like challenging Greg Norman's championship course. For more information please visit www.theridgesattellicolake.com or call 239-253-2332.
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