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

To: Think4Yourself who wrote (91396)	10/5/2007 10:48:29 AM
From: Pogeu Mahone	Respond to of 306849

Your not going to miss out on any bottom,this will take time to clean up this mess.Like 1991 there will be more RE@15&20cents on the dollar then will be able to be absorbed if you know where to look.

To: Think4Yourself who wrote (91396)	10/5/2007 10:58:16 AM
From: John Vosilla	Respond to of 306849

Here is one example. Hovnanian lots bought in Cape Coral at the top for $85k average but were worth under $10k five years ago. You can put in low ball offers on list prices now $15-18k all day long from desperate highly motivated sellers who can't afford the monster tax bill and are told there is no end in sight with 7-10 year inventory in just the lots now. Yet at auction some einsteins from Miami (no hablo Engles) or New Yawk will fight for them at $25-30k + fees. I guess they go off the recent very high tax assessments (still $50k+) or never go the memo we are in a full blow downturn that won't end soon..