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

To: cody andre who wrote (16007)	1/15/2004 3:48:11 AM
From: Les H	Read Replies (1) \| Respond to of 306849

I'm seeing ads for new homes by builder where one can buy $ 150,000 to $ 200,000 if one comes up with $ 500 cash. From what I've read on the real estate boards, they seem to be trading off a much higher number of foreclosures for greater sales.

To: cody andre who wrote (16007)	1/15/2004 10:01:43 AM
From: Tradelite	Read Replies (2) \| Respond to of 306849

<<35-40% Overvaluation seems to be the norm in the Washington, DC area >> Interesting statistic. Where did it come from? Statements like that always puzzle me. Overvalued based on what? What methods or criteria are being used to set the "base" for this opinion that something has now become "overvalued" by such a specific amount? Seems to me that if home prices suddenly fall by that amount, you could say that they were overPRICED by that amount, because they had no takers at the higher price. Definition of value for residential property = what buyers are willing to pay and sellers are willing to accept. Always! (or have the rules changed?)