I dont back down from posters like you because you add very little to this board and I (like TG) arent afraid to go head to head with you. You dont make this a better place nor do you add value. You run into the movie theatre, scream fire and run out.
2 to 3 years of 5 to 10% declines (average about 7.5%) amounts to 20% down from current levels. The $550K sale was not in the area I think will see those declines but lets say it was. When it was $550K there were 12 offers in 3 days several of which were all cash. It was a spectacular property. Do you think there will be less competition if it was $450K? Do you think prices that low will last long when 30 offers come in over a weekend? It is probably the best location in that tract (in my and the buyers opinion). Do you think there is a chance a property that good just might not hit the market when prices are that low? It was a minor miracle to get the property with that much competition, at a price 20% lower it would be virtually impossible. You do know people actually live in their homes and enjoy them?
