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My sister lives in Highland Park, LA just over the border from South Padadena. They bought at the peak, and their home value if off about 20%. But it hasn't really moved down anymore in the past 6 months. Her area is not affluent. Not a lot of homes go on sale in the area because it is mostly established hispanic familys that have been in their houses for decades. I think the whole real estate bubble passed the area by somewhat.
Were only off about 10% from the peak in our area of Seattle (Laurelhurst).
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