bottoming out: 50 % Price Drops
- 03/29/08 05:03 PM
How is your market doing? Here there are homes 40-60% below what they last sold for, with an end finally in sight. It appears once banks price these homes at such low prices, multiple buyers show up to write offers and to try and get them. And example would be a property we just sold on 12728 Laury Lane, Moreno Valley Ca 92553. Last sold for $330,000 and we got a cash offer from one of our personal friends for $110,000 and the bank took it! Thats a 66% price drop! I don't know when it will officially bottom out, but … (3 comments)
How is your market doing? Here there are homes 40-60% below what they last sold for, with an end finally in sight. It appears once banks price these homes at such low prices, multiple buyers show up to write offers and to try and get them. And example would be a property we just sold on 12728 Laury Lane, Moreno Valley Ca 92553. Last sold for $330,000 and we got a cash offer from one of our personal friends for $110,000 and the bank took it! Thats a 66% price drop! I don't know when it will officially bottom out, but … (3 comments)
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