a home that we looked at in june (way over our price range) has gradually dropped in price by 300,000. it is an absolutely to die for home and the only negative is that it was (IMO) overpriced. i am curious if the home will sell quickly as a result of the major prce drop.
crossing fingers that this is a good sign that the housing market is not a strong as it was 6 months ago and prices are going to start dropping.
kel2004
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Re: Sign of good things to come re: RE prices
That is an amazing drop!!!
skew
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Re: Sign of good things to come re: RE prices
original list price was 1.49M
Boop2704
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Re: Sign of good things to come re: RE prices
I am crossing my fingers with you that this is a sign the market is leveling out!! I want a house so bad I can taste it!! But unless the market drops I don't forsee us getting a house anytime soon!!
skew
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Re: Sign of good things to come re: RE prices
my prediction is that we will see a drop in the the higher priced homes $700K +, but not so much iin the lower priced homes.
the entry level market is huge and as a result there will ALWAYS be a demand for starter homes. prices 'may' level, but i dont forsee a huge drop.
Jordan
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Re: Sign of good things to come re: RE prices
I noticed a drop as well. Homes we were looking at in the $500-600k range are now in the mid $400k range. Not a significant drop - but one nonetheless. Thankfully!
SeptWed
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Re: Sign of good things to come re: RE prices
Wow...my BIL is in the mortgage/RE business and my sister told me he is not doing as great as he was last year. Made me and DH think that the market is kind of settling down. It had too...i saw houses going for $500,000 that were small and three bedrooms...and not in the best condition. You can't tell me a cape is worth $500,000....
