Comments by "worn down" (@worndown8280) on "Foreclosure WAVE in Florida Getting BAD" video.

Here in Tennessee I am actually seeing several houses who cut homes over 100k to drop their price to below the "estimated" price. I think some people have had discussions with their realtors. Whoever does this first will be able to sell, those who are stubborn and hold out are going to be left holding the bag.
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@jayb9543 They will. It takes time for market psychology to effect. But once it happens it happens fast. And even then all it takes is one guy who sells out at a lower price to screw everyone in the neighborhood. I did this in Dec 2007 in California when I bought a new construction from DR Horton that was originally priced at 535k. They reduced it to 505k. But when I bought it I got it for 216k. My new neighbors hated me. lol
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@mandyjo4198 Yea I see a lot of people building small tracks of homes. I dont think they understand what happens when you have a huge price run up like its been in the last 7 years. I dont believe Tennessee, or at least East Tennessee has ever seen anything like that. But thats typically when a hangover hits. I hope your families business makes it through.
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