Reply #3: I posted a warning from a noted real estate author, earlier today..

[No DUplicitous DUpe]

Alert: .."Real estate market topping out and ready for a major fall"

From Author Dick Kazan

"Entertaining and compelling real-life stories with valuable lessons on how to succeed in business and in life. The author is successful business, real estate, and media entrepreneur Dick Kazan."
http://www.kazantoday.com /

If you or someone you know owns a home is considering buying a home or is a real estate investor, this message is very important to you. I strongly believe the real estate market is topping out and is ready for a major fall.

I say this to you as someone who has invested at the opportune points in the real estate market cycle for nearly 30-years. U.S. markets such as Boston, Los Angeles, Miami, New York, San Diego, San Francisco and many other markets that have had a giant run-up in price in recent years, will be heading down.

This major fall will begin mildly, with tighter lending standards and a gradual buildup of housing inventory. At first, sellers will resist lowering their prices but inevitably, those who need to sell will reduce their asking prices to the levels the market will bear. As the pace of the decline increases, so will seller flexibility.

Why will this fall come? The biggest reason is that income levels have greatly lagged the sharp jump in housing prices so; many buyers can’t afford the prices they’re paying. To buy, what many of them have done is taken the profit from selling their homes, used creative financing and traded up to even more expensive residences.

more at http://www.kazantoday.com /