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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: valueminded who wrote (55307)	8/24/2006 4:57:07 PM
From: Broken_Clock	Read Replies (1) of 116555

value If you are in Hawaii, southern cal, colorado, florida and other areas all you have to do is open your eyes. They are everywhere. As for 'no different this time' I can tell you I have personally never seen developers offering 6% up 15%(!) commission to coop brokers in new developments before. I almost fell off my chair when I saw that 15% the other day. But 6% is now almost standard. A major project here was offering 3/2 pud's @$1,600,000 3 months ago(national builder) and I just got the latest 'summer sale' pricing....same unit now $869,000. I think that qualifies as 10 or 20%. -g- My friend in Santa Maria refused to sell last summer when he could have easily reaped $549k for his 35 year old tract home. His agent buddy said the total inventory in the twon was like 80 homes at the time. Now homes next door are offered at $429k and no buyers with inventory roaring past 800.

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