Every 10K drop in sale price is better for you and worse for him due to inflation and risk of nonpayment.

Keep in mind, that's 5.3% since '77. nationwide housing prices track pretty close to the inflation rate over the long term, which is more like 2% annualized.

The same as it was 10 years ago, the same as it is today, and the same it will be in 10 years, after adjusting for inflation ... maybe even less.

Unless of course we have incredibly horrific inflation and there will be bigger issues at hand at that point.

Not sure I like it as a long term hold in that area because current prices are over inflated.

Then there are a couple of huge companies that I (and several other BP members - I know I've seen @Hattie Dizmond talk about this a lot) consider simply fraudulent - they're always flacking inflated ARVs and underestimated reno costs.

It's a law that needs to be looked at in FL because the Hoa lawyers and collection companies will inflate your back dues and add random fees and assessments to your payoff.  

The prices don't seem inflated though so I definitely wouldn't call it hot.

All I have is a super ballpark estimate from an architect friend (at a high-end firm so maybe his number is inflated?)

It may perhaps also inflate lesser levels of knowledge improperly.