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Land Poor

April 18, 1993

I would like to applaud the article "Unreal Estate" (by Jill Stewart, March 21), which puts a realistic perspective on the problems inherent in our local real estate economy.

I am an Orange County real estate broker and analyst. It comes as no surprise to me that the most realistic observations on the market come not from real estate salespeople but from the property owners who have lost big by having been forced to sell. The saddest thing is that many brokers will stay wealthy at the expense of those who took bad advice from their brokers three or four years ago.

With few exceptions, the only homes selling today are those that are leading the market downward in price. If you plan to sell in the next three or four years, sell below market today. Otherwise, dig in and stay put.

PATRICK VELING

Fullerton

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