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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (104054)2/8/2008 3:43:13 PM
From: PoetRead Replies (1) of 306849
 
Oh, we sold during the big slide last summer. It took 13 months to sell our house-- at a 20% shave from the original asking price (at the 2005 high). Still, we got a great deal on our current house from a pretty desperate developer.

Funny, in my area (eastern CT) the inventory is crazy, but sellers just aren't ready to fold.

I'll be there when they do though. And you're right about the second or third wave of ARM resets. That's the time, IMHO, when panic will reign in my neck of the woods.
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