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

To: J. P. who wrote (155977)	10/9/2008 11:16:00 PM
From: Drygulch Dan	Respond to of 306849

The banks of course are reluctant to lower values on REO as that destroys credit which is their cornerstone. The last housing shoe to drop will be the eventual negative impact on property taxes, nationwide. We as a nation are so screwed. Good luck on your house hunting. We found ours last November and got rid of our 3X2 Silicon Valley sh!tbox this past May. Glad to have made the move.

To: J. P. who wrote (155977)	10/9/2008 11:18:50 PM
From: Peter V	Read Replies (2) \| Respond to of 306849

suck it up and rent. That's what we are doing. And with the bailout propping everyone's expectations, I think it's going to be more than the one year I promised my wife ...

To: J. P. who wrote (155977)	10/10/2008 1:48:21 AM
From: posthumousone	Read Replies (2) \| Respond to of 306849

your experience is similar to mine re shopping for housing....when is the next leg down? or is the govt going to successfully prop it up?

To: J. P. who wrote (155977)	10/10/2008 3:25:18 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

we just got back from a house hunting trip in incline village, lake tahoe, and while prices have softened, they're still quite high....the broker was telling us that escrows have increased substantially, but that the only deals getting done were cash buyers couldn't believe the crap construction that was going for the $400 per square foot price range