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

To: Tradelite who wrote (63472)	10/7/2006 5:15:03 PM
From: Travis_Bickle	Read Replies (1) \| Respond to of 306849

The problem is that in the bubble areas speculators bought with interest only or option loans without much of a down payment, so if they price it to sell they will get less than they owe on it. Which isn't much of a problem if you have a bunch of cash sitting around but people who are dumb enough to put themselves in that position probably don't have much in the way of liquid assets, particularly the ones who bought several condos or townhouses. So these people are already finished, if they price it to sell they are broke now, if they rent it for less than carrying cost they will lose more money in the end but at least they keep the dream alive for another year.

To: Tradelite who wrote (63472)	10/7/2006 7:56:02 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

There is no need to reduce the asking price on properties in the Washington DC area - regardless of a glut of homes for sale. Tradelite has assured buyers on this board many times over the past few years that real estate prices never decline in the Washington DC area. Tradelite is expert at flogging real estate in the DC area, so I don't think you should call him a liar simply based on your idle opinion. Inventory in the DC area is likewise up hundreds of percent, but nothing catches a sale like a bargain price. Much more stuff would be selling if the sellers would get with the program and price properties for the market, instead of their imaginations. .