04-22-2009, 07:59 PM
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Keeneland
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Join Date: May 2006
Location: U.S.A.
Posts: 10,072
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Quote:
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Originally Posted by dalakhani
This is simply not true. Real Estate is local. a 1,000,000 dollar property in loudon county virginia 3 years ago is now 650,000k. That same 1,000,000 dollar property in downtown DC (30 minutes away and same MSA) is worth 1,100,000. Location, location, location.
Rates of decline are certainly going to vary depending on locality and obviously some localities are actually increasing despite what the rest of the country is doing.
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properties that were 150- 200K 3 yrs ago in each area. How are they today?
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