Sunday, July 4, 2010

Local Real Estate Consultant Says Use 2003 Sale Prices to Determine Home Prices Today

Interesting post on Lansner's blog:

We believe 2003 prices are a reasonable estimate for most home values today. Obviously, this is a very back-of-the-envelope analysis and our work with clients is more targeted toward the decisions they are trying to make.

Many many homes in Laguna Beach and Newport Beach are listed at prices way over 2003 levels. Buyers need to be careful to avoid drastically overpaying for a home.

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