Bit of a story behind this one… I put an offer on this last July/August 2006 for 420,000. Agent said I was outbid, never called me back though property was still on market, unsold, in December.
THANK GOD! I can’t believe I was so dumb, a personal thanks goes out to the agent for being so incompetent!
Seems the owner wised up and switched agents in January with a (likely insufficient) drop in price as well.
If i had a choice between having an apartment with 25 equity (and bought within last 12 months and someother points) or no apartment with Zero cash i would choose the latter.
Thats how pessimestic i am about the future prices of apartments.