GREAT post Tim.
It was fun taking a walk down memory lane reading those threads. My favorite part however was the comments. Especially where Tai adamantly stated that "Vuecrest" wouldn't be affected as there is a line of people trying to get in and you can't get in for under $1MM.
Let's see how that theory is holding up...
For starters...we have a home purchase for $1.675MM on Sept, 07, 2007
One year later...on the market for $1.498MM
http://www.redfin.com/WA/Bellevue/9663- ... ome/251209
another loser...
http://www.redfin.com/WA/Bellevue/9628- ... ome/250730
and a short sale here...bought in 3/2006 for 930k currently listed at $799k
http://www.redfin.com/WA/Bellevue/9671- ... ome/252160
Flip gone bad...
http://www.redfin.com/WA/Bellevue/9838- ... ome/506359
2 homes have sold in the last 6 months. One just squeaked out and one was sold at a loss
http://www.redfin.com/WA/Bellevue/733-9 ... ome/251973
So much for the "good neighborhood" theory.