Quote:
Originally Posted by Addy
I've spoke with a realtor who told me the higher priced houses (over 600K) are selling drastically below their asking prices (50 to 80K below). Anyone else in the know here who can comment on this?
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I am told that the big McMansions out in suburbia (i.e. Kingswood, Glen Arbour) are upside down in many cases, with more mortgage debt than their market prices can bring. Apparently that market has slumped bigtime over the last year, with peninsula homes in the same price bracket not being affected to the same extent.
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