tag:blogger.com,1999:blog-4450061648126809792.post690109551659811217..comments2023-09-17T07:15:34.566-07:00Comments on Madison Park Blogger: Decline in our house values: worst in the City?Bryan Tagashttp://www.blogger.com/profile/04318071838873203382noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4450061648126809792.post-36950986695497819402010-06-24T23:58:58.468-07:002010-06-24T23:58:58.468-07:00So true - who would want a mansion without a garde...So true - who would want a mansion without a garden?!<br /><br />That said, this is the typical post-bubble ditch. Belts get tighter everywhere, the smart money seeks out bargains instead of baubles and starts pricing in future decreases in value (as opposed to the bubble times "it's going to appreciate at least 20% every year".<br /><br />Prices will get worse and then, eventually, better. Ultimately, the only real losers are those who can't wait to sell for a decade. So - everyone, don't worry, you'll be fine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4450061648126809792.post-79641491311034299562010-06-24T10:35:38.836-07:002010-06-24T10:35:38.836-07:00zestimates are not very good, most people in the m...zestimates are not very good, most people in the mortgage industry use cyberhomes as a quick and dirty estimate, not zillow. That being said, no doubt any larger decline for Madison Park has to do with a trend you touched on in a previous post - the tendency to build 4000 sq ft homes on 4000 sq ft lots. These types of homes are typical of a bubble, and fall further and faster during a downturn. Check out the sale history of 3805 E McGilvra St - old house torn down in 2005, a 3050 sq ft house put up on a 3000 sq ft lot in 2006, sold for 1.5M, recently sold for 1.05M, a 30% decline in 3 years.Anonymousnoreply@blogger.com