On the topic of those who sold, sat out the decline, and are still waiting for the bottom.
At this time, LET ME THANK RICH for creating this wonderful website long ago. It has helped so many.
I was LUCKY to stumble upon this website back in either 2003 or 2004 (I forget which).
This website was a key factor in our dumping our Rancho Bernardo 3/2 condo for $405,000. Prices on similar units peaked at about $415K. We had paid $345,000 for it only about 2 yrs prior.
Let’s check the price today, shall we. I always enjoy that. Conveniently we find that the EXACT same model condo, in same condition that sits 10 feet away from our old condo just SOLD.
That identical unit just sold for $240,000. There are others priced similarly and they are not selling.
And we see from Rich’s new set of wonderful charts, that prices are now again falling, into the second dip of the “double dip”
So thank you again Rich, for your web site helping us realize we needed to SELL, which helped us avoid at least $160,000 loss of equity (405K – $240K)
Currently we are living like hermits and saving money like pack rats, as we watch our cash hoard (future home down payment savings account) grow each month, at the same time housing prices fall each month. We are biding our time. We will buy eventually. The Fat Lady has not yet sung announcing the bottom has been reached on home prices.
