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

To: Pogeu Mahone who wrote (74500)	11/26/2006 4:29:37 PM
From: stan_hughes	Respond to of 110194

"He who panics first will get the most for their home" No kidding. It's the Real Estate version of "never meet a margin call"

To: Pogeu Mahone who wrote (74500)	11/27/2006 3:12:31 PM
From: anachronist	Read Replies (1) \| Respond to of 110194

Real life example. My grandmother passed away in December '05. The bank that controls her estate finally put her house on the market in March '06. Thank god the officer in charge of her trust was smart enough to drop the price aggressively in order to make the sale. In Port St Lucie her 3 BR house on a golf course sold, but 30% less than the asking price, which is a haircut of about $100,000. Sale occured in June, I can only imagine its worse now.