AN
Yes and no. Some houses have dropped alot more than 50K and some less. Those homes were in funky neighborhoods which sold because everything was selling. Village Run is an anomaly on the previous sale price. The more stable and traditional family neighborhoods in this area have held up better. CAR is not far off in select (more desireable modest level housing for the area) $50K is probably too low in most but not all cases. Many are within 100K of peak pricing. I had lunch with a past client yesterday who is looking to move up. He bought Summer 2005 for about $575K and he could sell today between 525 and 550K.
You just cant look at the data and interpret it accurately without alot of local knowledge and expereince with the historical sales around here.
