[quote=sdrealtor]
Trust me on this one. The houses selling at 900+ at the peak were sold for 400K NEW in the late 90’s. I dont discount you seeing sales histories with prices in the high 300’s to 400 but they were new and required significant improvements to get them livable unless you consider a dirt lot, builders grade carpet, flat white walls and no window coverings livable among other things.
I just checked the MLS for 1999 closed sales to see what sold below 400K that could possibly have sold for 900+ at the peak. The only thing I found was a handful of new homes entered by the builders which arent really sub 400K homes because of what I have been trying to explain.
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It’s hard to find examples because of low sales volume in that area, but my experience comes from watching these sales for years. Here’s a couple that are listed now, which don’t necessarily show a late 90’s sale for comparison, but nevertheless are good examples of the kinds of gains and losses I see all the time:
It’s not like I’m making this stuff up. Regardless of peak price, in my opinion, properties that sold for $300-400k in the late 90’s will see the $500’s again. That’s my opinion, and it’s certainly not unreasonable. Could I be wrong? Sure, but past trends and current data say that I’m most likely right.
[quote]
Enjoy sitting on the sidelines. With you expectations you will never get off them.
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I did think carefully before responding to your original post, due to your reputation for rudeness (I have no desire to get in a pissing contest), but I didn’t think a simple sharing of opinions and knowledge would bring it out. I was wrong. Anyway, you have a nice day too 🙂
