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Subject:  Condo depreciation Date:  3/23/2008  12:26 AM
Author:  dtschet Number:  1252 of 1845

Here in upstate NY real estate is really falling. I was talking to a 70-something woman who purchased a condo a couple years back for $400K. She is not really happy there and wants to sell. Already depreciated to $300K!

She is not happy about taking the loss, if it eventually sells, but is convinced she has to leave for "quality of life" reasons.

Buyer beware!

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