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3 comments:
Here is our tract home McMansion of the day. Again, all information is in the public domain.
Same MO here, paid way way too much and now trying unload it. This MLS listing says "new" but I have seen this for the past 6 months...maybe it is "new" to the current listing agent.
ON MLS: H863665 asking $425K ($362K loss)
Purchased: 4/2006 for $787K brand new from the builder.
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936022860
The listing picture shows what looks like a Hummer in the driveway.
2500 sq ft Max.
2001 PRICING ON LHP WATERFRONTS?
This home, now listed at $1.6 mil, sold for $2.1 in 6/2005, and $1.8Mil on 5/2002.
MLS# F1014868
USA Today Headline
"What money doesn't buy: Luxury home market stalls"
Article about the higher priced home sales stalling.
Still looks to me like the sidelines is a good place to be.
There is speculation about interest rates going up, if that happens, prices will have to come down even more.
I would rather pay less $$$ for a home with a higher interest rate, than more money on a home that will go down in value.
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