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The New DU. Reply #5: Yeah, well, what did Ms. Hong pay for it to begin with?
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Carolab
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Fri Oct-21-05 12:08 AM
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| 5. Yeah, well, what did Ms. Hong pay for it to begin with? |
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And how long has she had it?
I'm in the RE business and there are too many people who think they can make a fast $200K.
The fact is that appreciation has been RIDICULOUS in the past few years and now, thank GOD, it's returning to more normal levels.
People are unrealistic about what they think they can get for a return. The usual appreciation is 3-6% depending on where you are in the country. It's a good thing that the balance between buyers and sellers is returning to normal.
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