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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ChanceIs who wrote (51336)4/4/2006 10:15:16 AM
From: TheStockFairyRead Replies (2) of 306849
 
I'm probably buying a TOL house this year, I have to enter into a phone lottery to see if I have the chance to purchase an $850,000 home. I'm doubtful that I'm going to "win" the chance at getting the home. These won't be built for 14 months.

There are no spec homes there. I would be happy to purchase one if there was, bubble or not. Right now I live in a 1600 sq ft townhome that is spread out over 3 floors. I have a 2 year old and another baby coming in June. My commute would only be 5 minutes more than it is currently. The next best place for me to live would be about 30 minutes further from work so I would lose 1 hour per day extra just on the commute and that time is worth A LOT to me.

Used homes are going for 780k in the TOL neighborhood and they are 20 plus years old needing a bunch of TLC to at least get out the wood paneling and the old people stink. I thought I was hosed at the top end of the RE market when I purchased the townhome for 300k 1.5 years ago, but the guy next door just purchased the same unit for 360 one week ago.

On top of it, some areshole lowlife from the apartments across the street grafitti'd the neighbor's wall facing us so my wife isn't that happy about our surroundings.

So, I'm guessing you all think that's a bad idea?
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