This is another recent conversation (public forum online) that might hopefully help you protect your money...
Q: Realistically, for higher end homes (greater than $800,000) what have sales been like In Franklin in 2009?
A: Not good. 18 months of inventory, and prices falling until that number reaches a balance. In LaurelBrooke, for instance (one of the very best neighborhoods our region has to offer), that means a drop of over 20% in average price since 2007 (median sales price too). Good time to be on the buy side, but its a rough market to make a successfully sale within - unless you analyze what is selling.
Would you like to discuss how recent sales might protect your investment? For instance, what is the 'constant' in the handful of homes sold this year in LaurelBrooke?