Posted on 07/22/2015 7:44:49 AM PDT by SeekAndFind
I was in Coeur d’Alene last week. The condos on the resort course are half of what they sold for in 2004/2005. Granted they were ridiculous in 2005($3 million vs. $1.8 million). I was told the only thing selling in Coeur d’Alene was the houses in the $225-300 range. The lake front $1 million plus was not selling. Neither were the lake view houses for $400-600.
Unfortunetly, all real estate is local. The hot markets right now are San Francisco/Oakland, San Jose, Denver, Boston, Dallas/Fort Worth, Seattle, Stockton, Sacramento, Detroit(YES DETROIT), Buffalo(YES BUFFALO), etc.
These are the markets where houses are available for the shortest time between listing and under agreement. Therefore, if you are not in proximity to these markets, you are not effected.
http://finance.yahoo.com/news/bidding-wars-return-home-market-000700177.html
Detroit: how could it go any lower unless the bank paid you to buy it.
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