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

To: Jim McMannis who wrote (37272)8/8/2005 3:43:52 PM
From: KMRead Replies (2) | Respond to of 306849
 
Here's a perfect example of what I'm talking about

davidgriffin.com

I lived a block away from this place when we first moved to Dallas in 1989. You could have bought it for $100K and change. It's probably less than 1500 square feet on a tiny lot. Now they're trying to get 3x the 1989 price (understanding that they've probably sunk 50-60K of upgrades in). I don't know what color the sky is in the world of these owners but it's some alternative universe. For what they're asking for that tiny little place, you can buy something on an acre, twice the size, in my neighborhood which is about 4 miles away and is a better neighborhood.

In a real estate turndown, that place won't fetch over $150K, and that's being generous.

Dallas and it's homeowners have a lot of downside ahead. IMO



To: Jim McMannis who wrote (37272)8/8/2005 5:42:57 PM
From: shadesRespond to of 306849
 
I was talking to a cuban who had moved up to south georgia for less traffic and more home for less money from WPB. He had moved back = I say why = he said valdosta airport service pathetic and cost too much, but WPB has nice airport and cheap deals all over. Also he liked to cruise a lot too, I guess the traffic and prices were worth being near good international airport.


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