We were still in phase 3 at that point, and prices didn't peak until May of 2007, even though volume started falling in November 2005 (which combined with the fact every buyer I sold to was using a pay option arm was enough to spook me).Given that we have not yet seen a similar decline in volume, and  since it took 18 months from volume declining in earnest to the market top, I think there is a good chance to think calling a top now >might< be a little premature.

I would agree with the previous poster that 65 ARV is the peak you are going to find in the marketplaceRegards,Scott Miller

ARV AT THE MOST is maybe 365k.needs about 25k fixings25k closingsbuh bye profits.

So you have to plan for the peaks and valleys and hold proper reserves.I am talking about RV parks with buildings also more of a mini-resort.

The second one was not livable but I was still able to get a mortgage on it at a $50k purchase price, spent 3 months nights and weekends fixing it up while working 50 hours a week at the regular job, got it livable using credit cards for materials (probably spent $15k in materials), got an equity loan for another $35k after the bulk of the work was done, paid off the credit cards then picked away at the things that I didn't like or needed improvement over the next few years, sold in '07 at the peak of the market for $156k.If you and the family can stand the mess it's a great way to build equity and usually get more house/live in a better neighborhood than you otherwise could have afforded, especially if you enjoy the construction part as I do.

So this last year was arguably my very best... about 24 months ago I started liquidated my buy and hold at what I thought was a mini peak....

@Jack B. Yes

Sounds like a summer getaway which is riskier than what I'd take unless I really knew the market, and the income made in the peak season would cover my yearly expenses.

Maybe you get a counteroffer that peaks your interest.

In 2008, it was reported that the average home price dropped 18% from the peak in 2006.