The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (5218)	9/11/2002 3:35:09 PM
From: y2kate	Read Replies (3) of 306849

Mulholland, You're well situated up there on Mulholland Drive- that's a pretty fancy address! <g/ng> re: "...a bird in the hand..." True. And no- I wouldn't pay 800K for this house, as fond as I am of it. 3 bedrooms, one bath, charming 20's era Spanish architecture...with 10% down, the monthly payment on the balance would be around or under $5k a month at current interest rates. That makes it seem somewhat more affordable, but that's still a lot of money. The house is definitely overvalued at present IMO. But that's what I thought last year when comps were going for $650k, and the year before, when they were going for $500k..yes, I realize it has to end somewhere! I'm curious as to how many people here have actually sold their primary residence- their home- in anticipation of the event implied by the thread header? Or are other considerations-emotional, personal- outweighing the economic- even among such a well-informed group?

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