[quote=jimmyle]I wonder what are the reasons? Realtors probably know that the buyers need 15 to 20% down and a $130K pre-tax income to buy this house.

Asianautica, do you see this house (or something similar) going to $450K near the end of 2009?
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Forecast to me is futile. Personally, I think this house should be worth around 400-430k at today’s interest rate. If rate goes higher, price will have to go lower for me. Whether it’ll get down to that price by the end of 2009 is anyone’s guess.