sdr…stirring the pot won’t change the outcome…a good indicator for you that the bottom is in is when people stop referring to homes as investments. period.
I agree with all of the above regarding buying at the bottom. I think there are a lot of folks on this board that are more married to the idea of a 40 to 50% nominal decline than simply buying at the bottom of the next cycle. I guess that I wasnt clear in what I was putting forth.
duuuddde,
To the untrained eye it may appear that way. I just spent 5 minutes looking at the MLS. Granted I have not personally seen these homes and am relying on photos but this is what I see.
This time last year an approx 1400 sq ft home on the MT. streets (I think thats where you said you were) would sell for 525K to 550K in generally clean but unremodelled original condition. This year a home that size goes for about 500K with some remodelling done. There are currently more than a dozen on the market some of which have been highly upgraded. To sell they will have to lower their asking prices quite a bit. Statisitics aside, I think its fair to say that area is down 10% also.
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