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

To: John Vosilla who wrote (49583)	3/6/2006 12:16:15 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Don't recall any special bubble mania or frenzy in the late 1970s. Do remember (as that was when I first got into the biz) that there seemed to be an equilibrium in the market between number of buyers and sellers. List a property....soon get an offer...do a little negotiating, if any, and property was sold, usually on the seller's terms. Sometimes had a hard time finding a decent single-family home in a particular area, but there wasn't that much competition for any that were for sale. There were definitely some heated fights and threats of lawsuits against agents back then over the handling of competing offers on vacant land in Northern Virginia for single-family residential development, but not in the condo market and not for existing homes. Best memory of that time in history: not nearly as much road traffic and gridlock as we have today.