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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (67013)	7/28/2006 2:21:21 PM
From: benwood	Respond to of 110194

Well, yeah, sometimes documenting real declines. In Seattle, sales I believe have gone down but so have listings and so prices have still been going up. My feeling is that we'll have crested in June and so some weakness starting this month. A house went for sale two doors down from my house, listed at $675k. My house's bubble value is perhaps $475k, so this will be interesting. It's been on the market for 2 1/2 weeks, and the neighbors in between said that the open house generated very little traffic. Also, on one of my bike riding loops, I've been observing this cluster of waterfront homes all on sale in the Sheridan Beach neighborhood for the past 3 or 4 weeks -- three in one cluster and two nearby. So far, only 1 has a gotten a pending sale, the other four are still up for grabs. Very choice location, and I suspect very high prices, too. I'm mostly wondering if more for-sale signs will pop out as a feeling of doom sets in. The one house that sold, btw, was the newest listing.