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Local market looks "dismal"

I had a conversation this morning with a top local real estate agent from one of the large traditional companies. She is thinking that "this will be the hardest year we've seen" in the real estate business.

She reported that they had some local appraisers visit their office meeting and it sounds like they had about the same view as what we reported here:

The bottom line: Mortgage appraisal values really drop until the comparable values drop. Comparable values won't drop until we see some well negotiated purchase agreements.

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