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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Patricia who wrote (1843)	2/22/2002 2:06:15 PM
From: Steve Lee	Read Replies (2) \| Respond to of 306849

Previously owned property in the UK. Just finished selling it all for a really nice profit. Rents were more than 3 times the mortgage payments and I sold because they had appreciated so much and I am not too optimistic on the economy for the next few years. I had a purchase agreed on a small apartment in Hermosa Beach, LA but the builder was behind and not offering a discount so I took the money out of escrow (that escrow arrangement was a real mindbender - totally alien to anything I have seen before). SInce then, prices have risen too much and I want to be within a few yards of the beach so I am waiting my chance to pick up some bargains. Interesting what you say about probate. Almost every time one of my lowball offers has been accepted, it has been from someone who just inherited the property. They really don't seem to care how much they get, and they often have the air of a jackpot winner about them. Beats me why they don't hold out for a few more months to get a much better price!