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#128240 - 09/30/07 12:10 AM Re: no notice [Re: katebcca]
chatty lady Offline
Writer

Registered: 02/24/04
Posts: 20267
Loc: Nevada
Kate, you might check townhomes and condos, you can usually get more bang for your buck with those. Also my older grandson rented a lovely home "with tho option to buy." Many realtors and private sellers have these available now because homes just aren't selling. One of the wealthiest Brokers here in Vegas bought up five gorgeous homes when the market was good, he planned to resell them at a nice profit. Then the big slump in sales began and this man has been force to go back into laying tile and his wife is selling jewelry retail. Check around my grandson got a great deal on his lease to own home from someone who was desperate to sell it...


Edited by chatty lady (09/30/07 12:12 AM)
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#128241 - 10/01/07 05:55 PM Re: no notice [Re: chatty lady]
Dotsie Offline
Founder

Registered: 07/09/08
Posts: 23647
Loc: Maryland
Kate, real estate prices were out of control here over a year ago. Now things are really dying off. The prices are coming down considerably.
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#128242 - 10/02/07 10:48 PM Re: no notice
katebcca Offline
Member

Registered: 07/09/05
Posts: 631
Loc: Victoria BC Canada
Not here. So far they are still crazy. The only difference is there is more to choose from. It's a buyers market if you can pay the price.

In Toronto recently a house in the beach area sold for $605,000 over the asking price. Here where I live on the coast most houses are well over 500,000 and then you have to spend $200,000 renovating.

It is not uncommon for many houses in my area to be well over 1 million. Recently a house on the beach not far from here sold for 29 million. So hard to believe.

I realize that the prices have to come down and they have been saying that they will for the past two years but still the prices continue to rise.

It will slow down but so far all of the predictions have been wrong as to when.
Kate

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#128243 - 10/03/07 02:27 AM Re: no notice [Re: katebcca]
Anonymous
Unregistered


Kate, I hope that prediction will work to your favor soon. You mention homes, any condos in your area?

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#128244 - 10/03/07 03:26 AM Re: no notice [Re: ]
katebcca Offline
Member

Registered: 07/09/05
Posts: 631
Loc: Victoria BC Canada
There are, most are over $250,000 for a 1 bedroom. I have two kids. I am worried about condo's as the maintenance fees are scary, plus the condo council meetings. I've heard some nightmare stories. I have friends who live in condo's and they are great for singles or couples, but not for kids, pets etc.

I think when things do slow down, condo's will take a big hit and I don't want to get burned.

For now, things are quiet. When I get my license maybe I will hear of some deals, plus if I buy a place as an agent I'll save some money.
Thanks for all your ideas.
Kate

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#128245 - 10/03/07 12:00 PM Re: no notice [Re: katebcca]
Dotsie Offline
Founder

Registered: 07/09/08
Posts: 23647
Loc: Maryland
I just heard form my friend yesterday that condos in Baltimore are doing the worse. Sounds like our trends are a little ahead of yours.

During the past couple years, houses were selling above the asking price. Now sellers are having to reduce the prices.
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