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

To: Lizzie Tudor who wrote (115030)	4/5/2008 4:17:12 PM
From: Sea Otter	Read Replies (2) \| Respond to of 306849

Thanks Lizzie. On topic, here's a cozy place for $1.55M in Menlo Park: redfin.com I walked the dog by it. Nice enough, but very small (the house, not the dog). They paid $1.4M almost 3 years ago. So it looks like they're angling for a modest profit after transaction costs. Down the street, this property just got reduced by 100k: redfin.com Ditto - at $1.1M they're still looking for a gain. I'm also starting to hear more tales of valley firms getting cautious and cutting back. But I remain an optimist and don't believe any recession will seriously dent this housing market. It will be interesting to see if these properties move at these prices. But if prices fall further I might have to revise my sunny opinion.