Comments on: Crystal Ball Predicts Seattle Slowdown http://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/ local real estate news, statistics, and commentary without the sales spin. Thu, 18 Mar 2010 14:29:45 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: SLO renterhttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-184 SLO renter Sat, 26 Nov 2005 20:28:10 +0000 http://seattlebubble.com/blog/?p=90#comment-184 mesugy said: I watch the Ballard area very closely...over the last year I haven't seen anything that was flipped until this came up:<br/><br/><br/>I lived in Ballard for a couple of years. Still miss it. I didn't get the impression of much flipping going on. However, there was definitely the idea that real estate would only go up, they're not making any more land, buy if you can, growing discrepancies between cost of renting vs. owning i.e. all the things which (combined with lax lending) tend to indicate bubbles.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('184','SLO renter',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('184','SLO renter','mesugy said: I watch the Ballard area very closely...over the last year I haven\'t seen anything that was flipped until this came up:<br\/><br\/><br\/>I lived in Ballard for a couple of years. Still miss it. I didn\'t get the impression of much flipping going on. However, there was definitely the idea that real estate would only go up, they\'re not making any more land, buy if you can, growing discrepancies between cost of renting vs. owning i.e. all the things which (combined with lax lending) tend to indicate bubbles.',''); return false;">Quote</a></div> mesugy said: I watch the Ballard area very closely…over the last year I haven’t seen anything that was flipped until this came up:

I lived in Ballard for a couple of years. Still miss it. I didn’t get the impression of much flipping going on. However, there was definitely the idea that real estate would only go up, they’re not making any more land, buy if you can, growing discrepancies between cost of renting vs. owning i.e. all the things which (combined with lax lending) tend to indicate bubbles.

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]]> By: Anonymoushttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-182 Anonymous Wed, 23 Nov 2005 00:35:00 +0000 http://seattlebubble.com/blog/?p=90#comment-182 I don't know about scrub, but a nice house in Austin is still a lot cheaper than what you get in this town. But of course this town is a lot better in terms of all its natural wonders....which I enjoy seeing while stuck on I5 ;-)<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('182','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('182','Anonymous','I don\'t know about scrub, but a nice house in Austin is still a lot cheaper than what you get in this town. But of course this town is a lot better in terms of all its natural wonders....which I enjoy seeing while stuck on I5 ;-)',''); return false;">Quote</a></div> I don’t know about scrub, but a nice house in Austin is still a lot cheaper than what you get in this town. But of course this town is a lot better in terms of all its natural wonders….which I enjoy seeing while stuck on I5 ;-)
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]]> By: bilirubenhttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-181 biliruben Wed, 23 Nov 2005 00:11:13 +0000 http://seattlebubble.com/blog/?p=90#comment-181 I don't hate flippers, I just hope they don't succeed. If they do succeed, houses become that much less affordable for everyone.<br/><br/>The more stories of flippers taking a financial bath, the fewer flippers there will be.<br/><br/>The particularly greedy ones such as in my friend's example I wish particularly ill-luck.<br/><br/>anon - I have some sweet west Texas scrub for sale cheap! It could fit 10 Mansions on it, I'm sure. BYOW, however.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('181','biliruben',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('181','biliruben','I don\'t hate flippers, I just hope they don\'t succeed. If they do succeed, houses become that much less affordable for everyone.<br\/><br\/>The more stories of flippers taking a financial bath, the fewer flippers there will be.<br\/><br\/>The particularly greedy ones such as in my friend\'s example I wish particularly ill-luck.<br\/><br\/>anon - I have some sweet west Texas scrub for sale cheap! It could fit 10 Mansions on it, I\'m sure. BYOW, however.',''); return false;">Quote</a></div> I don’t hate flippers, I just hope they don’t succeed. If they do succeed, houses become that much less affordable for everyone.

The more stories of flippers taking a financial bath, the fewer flippers there will be.

The particularly greedy ones such as in my friend’s example I wish particularly ill-luck.

anon – I have some sweet west Texas scrub for sale cheap! It could fit 10 Mansions on it, I’m sure. BYOW, however.

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]]> By: Anonymoushttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-180 Anonymous Tue, 22 Nov 2005 22:54:20 +0000 http://seattlebubble.com/blog/?p=90#comment-180 I am not sure why anyone should be hated for being a successful flipper. If someone buys at the second price then the market has been set. If there is blame to be put around it is on the credit lenders...as for me, I am moving to TX, where I can get a mansion for the price of 1100 sq. ft. hovel in ballard<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('180','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('180','Anonymous','I am not sure why anyone should be hated for being a successful flipper. If someone buys at the second price then the market has been set. If there is blame to be put around it is on the credit lenders...as for me, I am moving to TX, where I can get a mansion for the price of 1100 sq. ft. hovel in ballard',''); return false;">Quote</a></div> I am not sure why anyone should be hated for being a successful flipper. If someone buys at the second price then the market has been set. If there is blame to be put around it is on the credit lenders…as for me, I am moving to TX, where I can get a mansion for the price of 1100 sq. ft. hovel in ballard
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]]> By: meshugyhttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-179 meshugy Mon, 21 Nov 2005 18:04:18 +0000 http://seattlebubble.com/blog/?p=90#comment-179 I watch the Ballard area very closely...over the last year I haven't seen anything that was flipped until this came up:<br/><br/>7217 28th Ave NW<br/><br/>Bought on 5/27/05 for $415<br/><br/>Sold on 11/15/05 for $537<br/><br/>A $112K profit!! And this house really isn't that great. A 1560 sq.ft house built in the 50s. Good shape....but nothing special. So it's still a bubble market in Seattle....<br/><br/>the guy who flipped it is a relator. His name is Brent Schram. Send your flipper hate mail to: bhschram@msn.com<br/><br/>See his bio: http://tinyurl.com/9tdsm<br/><br/>Bastard!!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('179','meshugy',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('179','meshugy','I watch the Ballard area very closely...over the last year I haven\'t seen anything that was flipped until this came up:<br\/><br\/>7217 28th Ave NW<br\/><br\/>Bought on 5\/27\/05 for $415<br\/><br\/>Sold on 11\/15\/05 for $537<br\/><br\/>A $112K profit!! And this house really isn\'t that great. A 1560 sq.ft house built in the 50s. Good shape....but nothing special. So it\'s still a bubble market in Seattle....<br\/><br\/>the guy who flipped it is a relator. His name is Brent Schram. Send your flipper hate mail to: bhschram@msn.com<br\/><br\/>See his bio: http:\/\/tinyurl.com\/9tdsm<br\/><br\/>Bastard!!',''); return false;">Quote</a></div> I watch the Ballard area very closely…over the last year I haven’t seen anything that was flipped until this came up:

7217 28th Ave NW

Bought on 5/27/05 for $415

Sold on 11/15/05 for $537

A $112K profit!! And this house really isn’t that great. A 1560 sq.ft house built in the 50s. Good shape….but nothing special. So it’s still a bubble market in Seattle….

the guy who flipped it is a relator. His name is Brent Schram. Send your flipper hate mail to: bhschram@msn.com

See his bio: http://tinyurl.com/9tdsm

Bastard!!

Reply – bhschram@msn.com<br\/><br\/>See his bio: http:\/\/tinyurl.com\/9tdsm<br\/><br\/>Bastard!!’,”); return false;”>Quote
]]> By: bilirubenhttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-178 biliruben Mon, 21 Nov 2005 16:17:48 +0000 http://seattlebubble.com/blog/?p=90#comment-178 After doing a little research on a house a good friend of mine put an offer on last week, I found that the "invester" (i.e. flipper) they made the offer to had bought the house in August for 145K less.<br/><br/>The flipper countered their offer with a demand for 5K more, so my friend walked, thank god. I hope the flipper ends up regretting not accepting their offer, and takes a relative bath, though I doubt it. The flipper is sitting on 6.25 IO, neg am, so it could get expensive quickly for him, if he doesn't find a sucker soon.<br/><br/>I begged my friend to sell is his current, very modest house and rent for a year, but with a wife and two kids, it isn't worth the headache for him, even if it's likely it will save him 40-50K to do it. Sounds like they found a better, more reasonably priced house as of this writing.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('178','biliruben',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('178','biliruben','After doing a little research on a house a good friend of mine put an offer on last week, I found that the \"invester\" (i.e. flipper) they made the offer to had bought the house in August for 145K less.<br\/><br\/>The flipper countered their offer with a demand for 5K more, so my friend walked, thank god. I hope the flipper ends up regretting not accepting their offer, and takes a relative bath, though I doubt it. The flipper is sitting on 6.25 IO, neg am, so it could get expensive quickly for him, if he doesn\'t find a sucker soon.<br\/><br\/>I begged my friend to sell is his current, very modest house and rent for a year, but with a wife and two kids, it isn\'t worth the headache for him, even if it\'s likely it will save him 40-50K to do it. Sounds like they found a better, more reasonably priced house as of this writing.',''); return false;">Quote</a></div> After doing a little research on a house a good friend of mine put an offer on last week, I found that the “invester” (i.e. flipper) they made the offer to had bought the house in August for 145K less.

The flipper countered their offer with a demand for 5K more, so my friend walked, thank god. I hope the flipper ends up regretting not accepting their offer, and takes a relative bath, though I doubt it. The flipper is sitting on 6.25 IO, neg am, so it could get expensive quickly for him, if he doesn’t find a sucker soon.

I begged my friend to sell is his current, very modest house and rent for a year, but with a wife and two kids, it isn’t worth the headache for him, even if it’s likely it will save him 40-50K to do it. Sounds like they found a better, more reasonably priced house as of this writing.

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]]> By: midmailhttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-174 midmail Sat, 19 Nov 2005 16:00:14 +0000 http://seattlebubble.com/blog/?p=90#comment-174 No bubble?? median family income for $60,000. let's say about $4,000 a month after tax.<br/>almost $3,000 for housing expense including tax, insurance and utilities for median seattle home.<br/>what a nonsense for this.<br/>who can explain the bubble situation. they can rent for half the money.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('174','midmail',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('174','midmail','No bubble?? median family income for $60,000. let\'s say about $4,000 a month after tax.<br\/>almost $3,000 for housing expense including tax, insurance and utilities for median seattle home.<br\/>what a nonsense for this.<br\/>who can explain the bubble situation. they can rent for half the money.',''); return false;">Quote</a></div> No bubble?? median family income for $60,000. let’s say about $4,000 a month after tax.
almost $3,000 for housing expense including tax, insurance and utilities for median seattle home.
what a nonsense for this.
who can explain the bubble situation. they can rent for half the money.
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]]> By: Cole Kennyhttp://seattlebubble.com/blog/2005/11/18/crystal-ball-predicts-seattle-slowdown/#comment-169 Cole Kenny Fri, 18 Nov 2005 23:21:26 +0000 http://seattlebubble.com/blog/?p=90#comment-169 Yeah, sounds like a sales pitch to me too.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('169','Cole Kenny',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('169','Cole Kenny','Yeah, sounds like a sales pitch to me too.',''); return false;">Quote</a></div> Yeah, sounds like a sales pitch to me too.
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