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Post by unlawflcombatnt on Aug 1, 2007 20:40:29 GMT -6
LA/OC home prices have worst showing in 11 years" The S&P/Case-Shiller home price index for L.A. and O.C. counties fell in May on a yearly basis for the fourth consecutive month. May's drop (3.28% in a year) was the worst performance since January '96.
S&P's 10-city index was off 3.38% in a year, it's worst showing since 1991. “At a national level, declines in annual home price returns are showing no signs of a slowdown or turnaround,” says index creator Robert J. Shiller...."
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Post by jeffolie on Aug 2, 2007 9:43:07 GMT -6
Los Angeles County now has a foreclosure rate that has increased 800%. We will see prices fall at a much faster annualized rate over the next 18 months than the small May annualized 3.38%.
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Post by graybeard on Aug 3, 2007 6:43:17 GMT -6
A condo on the path I hike most mornings has been for sale for nearly a year. Zillow.com lists its value at over $700K, while the asking price is $600K. Zillow is just delusional.
GB
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Post by unlawflcombatnt on Aug 3, 2007 17:07:59 GMT -6
Zillow is just delusional. GB They certainly are. The owner needs to drop the price a lot, or he'll be trying to sell it for 1/2 that amount in another year.
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