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To: Kirk © who wrote (66112)	8/31/2004 2:22:02 PM
From: Amy J	Read Replies (2) \| Respond to of 77400

OT Hi Kirk, there hasn't been a home in that range since the late 90s in the area I'm thinking of. All of them on that particular street in that particular 3 block area have traded hands in the 2M range over the past four years. Another home went for $2.9M a few months ago around the corner from this block, which was mind boggling, as it was a small house too - maybe 4 bedrooms at best. They certainly aren't worth that much. Hypothetically, could you imagine redoing your kitchen cabinets in this type of situation and being reassessed a property tax that's substantially more per year, just because you made the mistake of remodeling your kitchen cabinets during a bubble. Ouch. (For those outside of California, remodeling a home even in this small way, results in a property tax reassessment based upon current market value.) Regards, Amy J

To: Kirk © who wrote (66112)	9/2/2004 11:55:44 PM
From: Lizzie Tudor	Respond to of 77400

I'm with you on the overhyped real estate bubble Kirk. Of course I live in San Mateo which is really a dot com fallout shelter if there ever was one. However, there are plenty of neighborhoods here- plenty- who have actually seen housing price DECLINES since 2000. Noe Valley in SF has also seen prices decline. Statistically this doesn't show up in the RE numbers, you have to live here to know it is true. There might be a huge RE bubble in las vegas or some areas of LA but here, our bubble was in the 90s. RE has held up better than other investments and houses that were once 500K have maybe gone to 750 thanks to interest rates but thats it really, JMO There just isn't as much wealth here as there used to be and imho you can apply that to the entire nation. I actually think the current economy is quite gloomy and bad. The intel warning tonight was awful.

To: Kirk © who wrote (66112)	9/5/2004 10:11:32 AM
From: cfimx	Read Replies (1) \| Respond to of 77400

>>I live in the area and there is no way that house went up that much without being torn down and remodeled, probably expanded too. If the house was unchanged, it probably only went from $750K to perhaps $1.3M give or take. << uhhh, THAT kind of growth is a bubble. and btw, I know some folks in los altos and their is a massive inflation going on there. don't forget, that $750k was already in the midst of the dot com housing inflation so to say silicon valley property is not part and parcel to the bubble is flat out wrong.