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Slow Code

wrote in :

On 23 Aug 2006 15:22:57 -0700, "John S." wrote:

mike maghakian wrote:
sometimes people complain when I point out people paying real stupid
prices for something on eBay.

over the last few years I have been saying how stupid people have been
for paying crazy prices for homes. I said they would be sorry in the
end and it is starting to happen:

this is from an MSN article on home sales:

I recently sold a house in Rochester Hills," Waquad says. "It was
purchased a year ago by the seller for $615,000 -- a newer house. He
changed all the appliances, the carpets and painted. He never lived in
it. He must have spent at least $20,000 to $30,000 fixing it. We got
it for a buyer for $440,000."

That's a perfect example of someone who was very late to the real
estate buying mania prevalent in many major cities for the past 5
years. I'm sure he was one of the last who got into a bidding war that
escalated many multiples over asking price. Unfortunately double digit
inflation disappeared and he couldn't flip the house at a profit.
There are many holders of over-priced real estate now.
or just made a bad choice in homes to flip
I flip home some myself and I am very carefull but I still burned
sometimes it is happens and you sould not be in that if you can't
aford to bet wrong from time to time

Has the president of your radio club ever flipped you off?

SC