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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Skeeter Bug who wrote (8719)2/5/2003 7:40:31 PM
From: ildRead Replies (1) of 306849
 
Last week friend of mine listed his 1000 sq.ft. no frills 2 bedroom condo in Santa Monica for $405K. He bought it in 1999 for $230K. It is already sold. Los Angeles is still very hot. It started with big delay after other So.Cal. places but it has caught up mightily. Rent has gone up a lot there, so for a RE broker it doesn't much to convince people that they should start "building equity" and "lock low mortgage rates".
OTOH I'm willing to pay some premium for the place where I can wear shorts and T-shirt all year round.
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