OCR
Remember that nearly every property in your new hood was sold at the peak price levels. Most arent like that so yours is an extreme case. Also the 3rd category is limited and will eventually empty the tank on itself.
Just an FYI in late 2003/early 2004 prices went crazy because inventory was about 4000. This was before the worst of the liar loans came online. If we dont get an inventory build up prices could bounce up a little this year.
FWIW I dont beleive that and dont see that happening but it wouldnt shock me if it did happen. I wrote a $1.2M offer yesterday on a property listed this weekend. Great property that is pushing the price so definitely not a giveaway. We were the 4th offer in.
I think this is the year to get your house if you havent already. Price on average should be 3 to 10% lower than last year. Finding one you like and can be the buyer on will be the challenge for most. Thats what I see…I could finally be wrong
