We will see what happens with this home. I do not believe that it will sell for under 450k but let’s see what happens.
Whether the bank will take something at that level on a short sale is something we will also find out.
I don’t believe everything is going to push into the 417k band like people say immediately. It will take time. The fact of the matter is that there is financing available, some people choose to pay for it some don’t. Also for properties within a 100k of that conforming limit most people do not get jumbos they get two loans. They then attack the higher rate second loan and knock it down as quick as possible.
Don’t confuse the post with bullishness. However consider it an injection of reality.
