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: Jim McMannis who wrote (37272)	8/8/2005 3:43:52 PM
From: KM	Read Replies (2) of 306849

Here's a perfect example of what I'm talking about davidgriffin.com I lived a block away from this place when we first moved to Dallas in 1989. You could have bought it for $100K and change. It's probably less than 1500 square feet on a tiny lot. Now they're trying to get 3x the 1989 price (understanding that they've probably sunk 50-60K of upgrades in). I don't know what color the sky is in the world of these owners but it's some alternative universe. For what they're asking for that tiny little place, you can buy something on an acre, twice the size, in my neighborhood which is about 4 miles away and is a better neighborhood. In a real estate turndown, that place won't fetch over $150K, and that's being generous. Dallas and it's homeowners have a lot of downside ahead. IMO

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