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The Home Sellers Nobody Talks About
National news and real estate professionals talk a lot about the people who purchased at the top of the market and now owe far more than their homes are worth. They discuss the legal and moral issues involved in strategic default and of course  everyone is talking about short sales and the difficulties they present.
But nobody talks about the people who sold at the top of the market.
What did they do? Did they re-invest that money in similarly priced properties – so they’re now facing the same “underwater” situation as the people who purchased their homes?
I know some of them did lose those profits.
Some of them came to our little community and created a “bubble” here.The locals were pretty upset - because all of a sudden, no one who lived and worked here could afford to buy a home.
I know of one mobile home that sold for $136,000 and then 3 years later sold for $245,000. I was the listing agent the first time around, and when I saw what it sold for next I called to see if that had been a typo!
No, it was the real price. Then those buyers invested another $50,000+ ... more

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