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

To: Tradelite who wrote (36409)	7/27/2005 4:39:11 PM
From: Tradelite	Read Replies (3) \| Respond to of 306849

I would say the Northern Virginia high-end real estate market has gotten dramatically ugly in just the last six to eight months. The flippers and speculators have suddenly attacked that segment with a vengeance. I know of several ridiculous listings at more than $1 million which shall go down in local history as examples of the final bullet that killed the golden real estate goose. Both are flip/speculative things that aren't worth their price tags. If the owners of these dogs think they're going to easily pick up the $400-500K profit they're seeking in a matter of a few months, I think they're going to be very disappointed. Serves 'em right!