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

To: Tradelite who wrote (63437)	10/7/2006 1:39:37 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

we haven't had any auctions out here yet. I don't think we have the same level of crash as they are having in FLA. But last time we had an auction of these high priced condos they were building on Ocean Beach in SF where the playland at the beach used to be. If anybody has ever been there it is as cold as the north pole with a biting wind, and a really incovenient location- not where condo's should be. They ended up selling well at the auction due to all the buzz about the auction, I think. But anybody who bought one is still stuck with a lemon, in my opinion. I think lots of areas in the bay area have already fallen about 20-25% from the peak. So going in and making an offer now is just fine.