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

To: Think4Yourself who wrote (81546)	7/19/2007 6:11:30 PM
From: Jim McMannis	Respond to of 306849

Makes sense.

To: Think4Yourself who wrote (81546)	7/19/2007 9:45:22 PM
From: John Vosilla	Respond to of 306849

"The bigger factor to me is how many of the markets have this huge resale inventory that has to clear and is going to keep pressure on pricing," Mezger said. "In a lot of the markets we're in the new median price is below resale." I'm checking out a LaSalle Bank just listed REO for a below market blowout price of $110k on a three year old 3/2/2 home in Cape Coral.. Now this home was worth $260k+ at the top and Hovnanian was buying lots around $85k each.. Who is most desperate and has real equity to make the first move sets the tone these days. Bank REO's will take this to way below breakeven for the builders trying to unload inventory the next 6-12 months.. The resale leveraged homeowner trying to get a short sale approved is the least of his problems..