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

To: Doughboy who wrote (49218)	2/28/2006 7:21:54 AM
From: ChrisJP	Respond to of 306849

Bought my humble 1850 sq ft ranch house in 1995 in Chevy Chase for $373,000, sold it to a builder who never set foot in it as a tear-down for $1,050,000 in 2005. Wow ! I live in the same area, but I've never heard anyone tripling their money in 10 years here. You must have had a nice piece of land, sold to a really stupid builder, or bought at an outrageously low price. I suspect a little of each, lol. The houses where I live are 50 - 60 years old, 1200 - 1600 ft sq, on about 6000 - 8000 ft sq property. The low end of these were selling last year for about $700,000. Chris