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

To: MulhollandDrive who wrote (4744)	8/27/2002 7:00:27 PM
From: Lizzie Tudor	Respond to of 306849

Mulholland, I agree, I can't see too many economic scenarios that can support the current RE climate... but admittedly, I am in CA. The annoying thing about these RE articles in the paper is the massive spin and doublespeak. "There's always a bit of a dip from June to July," he said. "But the pattern we're seeing right now is sales as strong or stronger than last year." but then Similarly, 50 percent of Zephyr Real Estate's sales were at or above the asking price four months ago, according to sales manager Randall Kostick. Today, only about 20 percent of homes are selling at or above the asking price, with "some going for substantially less." The million-dollar-plus range has been hit particularly hard, according to Kathy Ryan, agent at Frank Howard Allen in Mill Valley. In January, 191 million-dollar homes were for sale in Marin County, and 31 sold. In June, 327 million-dollar homes were for sale, and 56 sold.