We are wondering about timing, are the 2.5 million and over houses selling? Expect them to? When?

Asked by Empty Nester, San Francisco, CA Sat Feb 14, 2009

We are future empty nesters in San Francisco and considering our timing for selling our home. We are fortunate in that we can wait, but are trying to explore the timing of our decision. In this regard, are you real estate folks seeing the houses in the 2-3 million dollar range selling yet? Any good news coming our way in terms of financing possibilities for these types of sales and loans? What are your expectations for these properties this year? Next year? Thanks in advance of all your information.

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Dallas Texas, Agent, Dallas, TN
Sat Feb 14, 2009
Difficult to predict the future 2 schools of thoughts:

Many families searching purchase million + plus homes have held back due to economy their investments down in value.

Other families see great opportunity purchase with reduction in value of homes knowing that things will turn around long term goal vs. short term goal.

Many families either have cash dont care when purchase. HOWEVER lenders are shying away on loans over $500K.

GREAT QUESTION we have several million + areas in Dallas market not hit that hard.
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