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**Alliopeti** · 08-04-2007, 12:40 AM

$500,000 houses are out of reach for most Americans.

They'll come down once the market slows.
Even though a home appraises at $500,000 doesn't mean it will sell for that.

Two years ago a friend purchased a home that was appraised at $250,000 (which is damn high for the area).....He paid $130,000 for it.

08-04-2007, 12:40 AM	#11
Alliopeti Join Date Oct 2005 Posts 435 Senior Member	$500,000 houses are out of reach for most Americans. They'll come down once the market slows. Even though a home appraises at $500,000 doesn't mean it will sell for that. Two years ago a friend purchased a home that was appraised at $250,000 (which is damn high for the area).....He paid $130,000 for it.
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