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: Pogeu Mahone who wrote (63566)	10/9/2006 1:29:17 PM
From: Lizzie Tudor	Read Replies (2) of 306849

``Sold for 837!" he said, pointing to Starr, who had snared for $837,000 a condo that had been on the market for $1.2 million a month ago. I think that is happening to some areas of the bay area, specifically Willow Glen and some parts of San Jose. Houses that were listing for over one million - because EVERY house was listed at over one million a few mos ago - are now on MLSlistings for $899 and bring offers. Of course, the "statistics" that the RE industry pumps out don't show the magnitude of the decline. I really don't know why. This same thing happened last downturn where anybody trying to sell a house had the hard realization that 30-40% had been knocked off of their dream price, but the papers continued to say RE was strong.

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