Comments on: August Reporting Roundup http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/ local real estate news, statistics, and commentary without the sales spin. Thu, 18 Mar 2010 03:23:46 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Bob Rhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-25401 Bob R Sat, 15 Sep 2007 17:31:20 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-25401 Just found this site. My personal opinion may be of little or no value here. Renting is for those that like to move allot every other year or so. Rents have all ways gone up in an area where there has been work to be found like wise property values. I for one am not going to pay for a piece of property for some one else. For me property prices have always seemed out of reach yet I have paid my mortgage on time even if it meant we were eating beans. The early 80’s were really hard on us. High interest rates meant we had to do with out a car and use the buss yet I paid the mortgage not rent. Thank God I live in the USA and have the opportunity to choose. For me I like seeing all the negativity put out here just wish I could hear allot more of it. This is good news for me. I like the idea of buying when there is blood in the street and real estate is a dirty word after all, under all is the land and they are not making any more. I believe in free market capitalism and the opportunity is always there for me if I seek it out and am aware of it when it is staring in the face, am able to act and do so leaving fear and elation out of the equation……..
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]]> By: Randal Jhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-25156 Randal J Thu, 13 Sep 2007 18:42:07 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-25156 Speaking of California, hot off the press, or, wire:http://www.latimes.com/business/la-fi-homes13sep13,0,2859388.story?coll=la-home-centerMedian prices are up in SoCal too, slight as they are. But some realtors are admitting that the high-end and coastal neighborhoods are driving the increases. But overall:Orange Co - 14 months of inventoryInland Empire - 3 years of inventory!Will Seattle follow suit?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('25156','Randal J',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('25156','Randal J','Speaking of California, hot off the press, or, wire:\r\n\r\nhttp:\/\/www.latimes.com\/business\/la-fi-homes13sep13,0,2859388.story?coll=la-home-center\r\n\r\nMedian prices are up in SoCal too, slight as they are. But some realtors are admitting that the high-end and coastal neighborhoods are driving the increases. But overall:\r\n\r\nOrange Co - 14 months of inventory\r\n\r\nInland Empire - 3 years of inventory!\r\n\r\nWill Seattle follow suit?',''); return false;">Quote</a></div> Speaking of California, hot off the press, or, wire:

http://www.latimes.com/business/la-fi-homes13sep13,0,2859388.story?coll=la-home-center

Median prices are up in SoCal too, slight as they are. But some realtors are admitting that the high-end and coastal neighborhoods are driving the increases. But overall:

Orange Co – 14 months of inventory

Inland Empire – 3 years of inventory!

Will Seattle follow suit?

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]]> By: uptownhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24968 uptown Wed, 12 Sep 2007 20:53:05 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24968 wageslave,No one is forcing you to read this blog.No one forced home buyers to overpay for their house/condo. People in this country need to take responsibility for their actions.I know several people who bought at the height of the last CA housing boom and they all weathered it well. Of course they put 20% down and had fixed rate mortgages. They also didn't whine and moan about their situation to others.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24968','uptown',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24968','uptown','wageslave,\r\n\r\nNo one is forcing you to read this blog.\r\n\r\nNo one forced home buyers to overpay for their house\/condo. People in this country need to take responsibility for their actions.\r\n\r\nI know several people who bought at the height of the last CA housing boom and they all weathered it well. Of course they put 20% down and had fixed rate mortgages. They also didn\'t whine and moan about their situation to others.',''); return false;">Quote</a></div> wageslave,

No one is forcing you to read this blog.

No one forced home buyers to overpay for their house/condo. People in this country need to take responsibility for their actions.

I know several people who bought at the height of the last CA housing boom and they all weathered it well. Of course they put 20% down and had fixed rate mortgages. They also didn’t whine and moan about their situation to others.

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]]> By: TJ_98370http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24942 TJ_98370 Wed, 12 Sep 2007 18:25:07 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24942 wageslave,Don't confuse "spite" with "exasperation" directed at those who can not / will not see the inevitable.I, for one, have compassion for the legitimate "innocents" that could be hurt by future real estate market adjustments, especially those that were just attempting to establish a home for their families. I sincerely hope that there will be some kind of help available to those that were victims of fraudulent or deceitful transactions. On the other hand, the flippers and specuvestors can spin in their own little self-made mudhole of greed for all of eternity for all I care.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24942','TJ_98370',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24942','TJ_98370','wageslave,\r\n\r\nDon\'t confuse \"spite\" with \"exasperation\" directed at those who can not \/ will not see the inevitable.\r\n\r\nI, for one, have compassion for the legitimate \"innocents\" that could be hurt by future real estate market adjustments, especially those that were just attempting to establish a home for their families. I sincerely hope that there will be some kind of help available to those that were victims of fraudulent or deceitful transactions. On the other hand, the flippers and specuvestors can spin in their own little self-made mudhole of greed for all of eternity for all I care.',''); return false;">Quote</a></div> wageslave,

Don’t confuse “spite” with “exasperation” directed at those who can not / will not see the inevitable.

I, for one, have compassion for the legitimate “innocents” that could be hurt by future real estate market adjustments, especially those that were just attempting to establish a home for their families. I sincerely hope that there will be some kind of help available to those that were victims of fraudulent or deceitful transactions. On the other hand, the flippers and specuvestors can spin in their own little self-made mudhole of greed for all of eternity for all I care.

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]]> By: Garthhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24941 Garth Wed, 12 Sep 2007 18:19:21 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24941 I have been looking at census data alot and one thing I noticed that is kind of strange is how closely the number of people who are fiscally irresposible both renting and buying track if you believe the no more than 30% on housing rule.Here is the census data for seattle from the 2000 census, I am sure both renters and owners are further extended now.SELECTED MONTHLY OWNER COSTS AS A PERCENTAGE     OF HOUSEHOLD INCOME IN 1999 Less than 15 percent 32,921 32 15 to 19 percent 16,152 15.7 20 to 24 percent 13,658 13.3 25 to 29 percent 11,263 11 30 to 34 percent 7,944 7.7 35 percent or more 20,194 19.7 Not computed 586 0.6 GROSS RENT AS A PERCENTAGE OF HOUSEHOLD INCOME IN 1999 Less than 15 percent 19,401 14.6 15 to 19 percent 19,717 14.8 20 to 24 percent 19,534 14.7 25 to 29 percent 16,853 12.6 30 to 34 percent 11,822 8.9 35 percent or more 40,855 30.6 Not computed 5,123 3.8<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24941','Garth',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24941','Garth','I have been looking at census data alot and one thing I noticed that is kind of strange is how closely the number of people who are fiscally irresposible both renting and buying track if you believe the no more than 30% on housing rule.\r\n\r\nHere is the census data for seattle from the 2000 census, I am sure both renters and owners are further extended now.\r\n\r\nSELECTED MONTHLY OWNER COSTS AS A PERCENTAGE \r\n    OF HOUSEHOLD INCOME IN 1999 \r\nLess than 15 percent 32,921 32\r\n15 to 19 percent 16,152 15.7\r\n20 to 24 percent 13,658 13.3\r\n25 to 29 percent 11,263 11\r\n30 to 34 percent 7,944 7.7\r\n35 percent or more 20,194 19.7\r\nNot computed 586 0.6\r\n \r\nGROSS RENT AS A PERCENTAGE OF HOUSEHOLD INCOME IN 1999 \r\nLess than 15 percent 19,401 14.6\r\n15 to 19 percent 19,717 14.8\r\n20 to 24 percent 19,534 14.7\r\n25 to 29 percent 16,853 12.6\r\n30 to 34 percent 11,822 8.9\r\n35 percent or more 40,855 30.6\r\nNot computed 5,123 3.8',''); return false;">Quote</a></div> I have been looking at census data alot and one thing I noticed that is kind of strange is how closely the number of people who are fiscally irresposible both renting and buying track if you believe the no more than 30% on housing rule.

Here is the census data for seattle from the 2000 census, I am sure both renters and owners are further extended now.

SELECTED MONTHLY OWNER COSTS AS A PERCENTAGE
    OF HOUSEHOLD INCOME IN 1999
Less than 15 percent 32,921 32
15 to 19 percent 16,152 15.7
20 to 24 percent 13,658 13.3
25 to 29 percent 11,263 11
30 to 34 percent 7,944 7.7
35 percent or more 20,194 19.7
Not computed 586 0.6

GROSS RENT AS A PERCENTAGE OF HOUSEHOLD INCOME IN 1999
Less than 15 percent 19,401 14.6
15 to 19 percent 19,717 14.8
20 to 24 percent 19,534 14.7
25 to 29 percent 16,853 12.6
30 to 34 percent 11,822 8.9
35 percent or more 40,855 30.6
Not computed 5,123 3.8

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]]> By: Milestonehttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24936 Milestone Wed, 12 Sep 2007 18:03:14 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24936 1 Single Family Home away from 11,000 (...as of 11am pacific time). C'mon, you know you want to...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24936','Milestone',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24936','Milestone','1 Single Family Home away from 11,000 (...as of 11am pacific time). C\'mon, you know you want to...',''); return false;">Quote</a></div> 1 Single Family Home away from 11,000 (…as of 11am pacific time). C’mon, you know you want to…
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]]> By: wageslavehttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24932 wageslave Wed, 12 Sep 2007 17:46:18 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24932 As some of you give the appearance of wishing for, or speculating on, a massive deflation of housing value, remember that not everyone that bought a house within the last couple years did so in hopes of making a profit. This crunch/crash/recession will affect plenty of people that bought a house as a place to start or raise a family for 5, 10 or even more years. Being upside down in a mortgage, even a fixed one, would not be a comfortable place to be, especially if the economy tanks and jobs are lost. The "standard" (for financially prudent people vs. the national average) 6 months of savings only gives so much cushion in such a scenario.Heck, as I mentioned in another post, even house renters may be affected more than they care to think about (much easier to laugh at the potential problems while dismissing any that you yourself may face) as some number of people or families get evicted because the home owner went into foreclosure - sure, it's not necessarily a financial hit to the renter, but it's still a pain in the rear, and potentially disruptive to your life or your kids lives', to have to be forced to move on potentially short notice.Your spite is best saved for the flippers, the agents, bankers, etc. that architected and/or propagated this mess. The system was geared from the top to psychologically induce lax behavior and increase fiscal irresponsibility, from government to companies to the individual. Some people, be it through lack of education or knowledge, ignorance or even greed, were influenced more than others.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24932','wageslave',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24932','wageslave','As some of you give the appearance of wishing for, or speculating on, a massive deflation of housing value, remember that not everyone that bought a house within the last couple years did so in hopes of making a profit. This crunch\/crash\/recession will affect plenty of people that bought a house as a place to start or raise a family for 5, 10 or even more years. Being upside down in a mortgage, even a fixed one, would not be a comfortable place to be, especially if the economy tanks and jobs are lost. The \"standard\" (for financially prudent people vs. the national average) 6 months of savings only gives so much cushion in such a scenario.\r\n\r\nHeck, as I mentioned in another post, even house renters may be affected more than they care to think about (much easier to laugh at the potential problems while dismissing any that you yourself may face) as some number of people or families get evicted because the home owner went into foreclosure - sure, it\'s not necessarily a financial hit to the renter, but it\'s still a pain in the rear, and potentially disruptive to your life or your kids lives\', to have to be forced to move on potentially short notice.\r\n\r\nYour spite is best saved for the flippers, the agents, bankers, etc. that architected and\/or propagated this mess. The system was geared from the top to psychologically induce lax behavior and increase fiscal irresponsibility, from government to companies to the individual. Some people, be it through lack of education or knowledge, ignorance or even greed, were influenced more than others.',''); return false;">Quote</a></div> As some of you give the appearance of wishing for, or speculating on, a massive deflation of housing value, remember that not everyone that bought a house within the last couple years did so in hopes of making a profit. This crunch/crash/recession will affect plenty of people that bought a house as a place to start or raise a family for 5, 10 or even more years. Being upside down in a mortgage, even a fixed one, would not be a comfortable place to be, especially if the economy tanks and jobs are lost. The “standard” (for financially prudent people vs. the national average) 6 months of savings only gives so much cushion in such a scenario.

Heck, as I mentioned in another post, even house renters may be affected more than they care to think about (much easier to laugh at the potential problems while dismissing any that you yourself may face) as some number of people or families get evicted because the home owner went into foreclosure – sure, it’s not necessarily a financial hit to the renter, but it’s still a pain in the rear, and potentially disruptive to your life or your kids lives’, to have to be forced to move on potentially short notice.

Your spite is best saved for the flippers, the agents, bankers, etc. that architected and/or propagated this mess. The system was geared from the top to psychologically induce lax behavior and increase fiscal irresponsibility, from government to companies to the individual. Some people, be it through lack of education or knowledge, ignorance or even greed, were influenced more than others.

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]]> By: Bellingham REnterhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24930 Bellingham REnter Wed, 12 Sep 2007 17:40:28 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24930 My wife and I have been watching the prices in bellingham very closely. Believe me the prices are coming down especially in the lower end homes. It is amazing that some homes on the MLS have been on the market for over 2 YEARS!!! One house I've been watching... 3 YEARS!!! What are people thinking? Many of the new homes built in sudden valley are just sitting. I drive my wife to work and pass this beautiful new home that has been sitting there unoccupied, NEW for over a year. Anyway, if anyone wants some eyes on b'ham, give me shout!Also found this nice tidbit about seattle from FL: http://www.treasure-coast.us/weeklyupdate09-09-07?ref=patrick.net<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24930','Bellingham REnter',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24930','Bellingham REnter','My wife and I have been watching the prices in bellingham very closely. Believe me the prices are coming down especially in the lower end homes. It is amazing that some homes on the MLS have been on the market for over 2 YEARS!!! One house I\'ve been watching... 3 YEARS!!! What are people thinking? Many of the new homes built in sudden valley are just sitting. I drive my wife to work and pass this beautiful new home that has been sitting there unoccupied, NEW for over a year. Anyway, if anyone wants some eyes on b\'ham, give me shout!\r\n\r\nAlso found this nice tidbit about seattle from FL:\r\nhttp:\/\/www.treasure-coast.us\/weeklyupdate09-09-07?ref=patrick.net',''); return false;">Quote</a></div> My wife and I have been watching the prices in bellingham very closely. Believe me the prices are coming down especially in the lower end homes. It is amazing that some homes on the MLS have been on the market for over 2 YEARS!!! One house I’ve been watching… 3 YEARS!!! What are people thinking? Many of the new homes built in sudden valley are just sitting. I drive my wife to work and pass this beautiful new home that has been sitting there unoccupied, NEW for over a year. Anyway, if anyone wants some eyes on b’ham, give me shout!

Also found this nice tidbit about seattle from FL:
http://www.treasure-coast.us/weeklyupdate09-09-07?ref=patrick.net

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]]> By: ExCaliGuyhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24928 ExCaliGuy Wed, 12 Sep 2007 17:16:29 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24928 tinfoil hat time?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24928','ExCaliGuy',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24928','ExCaliGuy','tinfoil hat time?',''); return false;">Quote</a></div> tinfoil hat time?
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]]> By: BubbleBuyerhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24925 BubbleBuyer Wed, 12 Sep 2007 16:56:04 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24925 Tinfoil hat time on Seattle Bubble Blog!

“I am confused as to why I would want to come here and make up “any” story??? “

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]]> By: Shawnhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24922 Shawn Wed, 12 Sep 2007 16:29:35 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24922 Hi Old Ballard,I am confused as to why I would want to come here and make up "any" story??? I have posted here from time to time.What bothers me is that when everyone was moving from apartments to homes us renters did not benefit. Why? Too many conversions, so the vacancy stayed low. Now, they say that so many forcloseures are causing more folks to leave those homes and move back to apartments thus reducing vacany rates.I have checked craigs list and it was not much comfort. I am going to have to pay close to that 600 extra per month, but I will move to maybe only pay 400-500 more and for a better place. I have a family and need a two bedroom, so my options are limited.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24922','Shawn',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24922','Shawn','Hi Old Ballard,\r\n\r\nI am confused as to why I would want to come here and make up \"any\" story??? I have posted here from time to time. \r\n\r\nWhat bothers me is that when everyone was moving from apartments to homes us renters did not benefit. Why? Too many conversions, so the vacancy stayed low. Now, they say that so many forcloseures are causing more folks to leave those homes and move back to apartments thus reducing vacany rates. \r\n\r\nI have checked craigs list and it was not much comfort. I am going to have to pay close to that 600 extra per month, but I will move to maybe only pay 400-500 more and for a better place. I have a family and need a two bedroom, so my options are limited.',''); return false;">Quote</a></div> Hi Old Ballard,

I am confused as to why I would want to come here and make up “any” story??? I have posted here from time to time.

What bothers me is that when everyone was moving from apartments to homes us renters did not benefit. Why? Too many conversions, so the vacancy stayed low. Now, they say that so many forcloseures are causing more folks to leave those homes and move back to apartments thus reducing vacany rates.

I have checked craigs list and it was not much comfort. I am going to have to pay close to that 600 extra per month, but I will move to maybe only pay 400-500 more and for a better place. I have a family and need a two bedroom, so my options are limited.

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]]> By: Lionelhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24917 Lionel Wed, 12 Sep 2007 15:40:06 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24917 RE: the rental discussion above, I think the relative ease with which one can rent in Seattle as compared to LA makes Seattle much more vulnerable to a price drop. My wife and I are happy renting here. If my landlord were dim enough to try and raise our rent 600, we'd move, and judging by the listings on craigslist, do pretty well.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24917','Lionel',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24917','Lionel','RE: the rental discussion above, I think the relative ease with which one can rent in Seattle as compared to LA makes Seattle much more vulnerable to a price drop. My wife and I are happy renting here. If my landlord were dim enough to try and raise our rent 600, we\'d move, and judging by the listings on craigslist, do pretty well.',''); return false;">Quote</a></div> RE: the rental discussion above, I think the relative ease with which one can rent in Seattle as compared to LA makes Seattle much more vulnerable to a price drop. My wife and I are happy renting here. If my landlord were dim enough to try and raise our rent 600, we’d move, and judging by the listings on craigslist, do pretty well.
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]]> By: deejayohhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24914 deejayoh Wed, 12 Sep 2007 15:29:47 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24914 JohnnyBSwhat is an airchair quarterback? is that how the house is furnished?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24914','deejayoh',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24914','deejayoh','JohnnyBS\r\n\r\nwhat is an airchair quarterback? is that how the house is furnished?',''); return false;">Quote</a></div> JohnnyBS

what is an airchair quarterback? is that how the house is furnished?

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]]> By: Affluent Bitter Renterhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24912 Affluent Bitter Renter Wed, 12 Sep 2007 15:25:54 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24912 Warren Buffett:""What the wise man does at the beginning the fool does at the end," he quipped. "Once a price history develops enough for other people to see it and get envious, that takes over markets. We're seeing that some areas of the commodity markets."The Berkshire chairman also warned that it could end badly, likening commodity markets to Cinderella at the ball. "At the start of the party, the punch is flowing and everything's going well, but you know at midnight it's all going to turn into pumpkins and mice," he said. "People think they'll be able to get out just before midnight, but everyone else thinks that too."http://seekingalpha.com/article/10162-warren-buffett-warns-on-commodities<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24912','Affluent Bitter Renter',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24912','Affluent Bitter Renter','Warren Buffett:\r\n\r\n\"\"What the wise man does at the beginning the fool does at the end,\" he quipped. \"Once a price history develops enough for other people to see it and get envious, that takes over markets. We\'re seeing that some areas of the commodity markets.\"\r\n\r\nThe Berkshire chairman also warned that it could end badly, likening commodity markets to Cinderella at the ball. \"At the start of the party, the punch is flowing and everything\'s going well, but you know at midnight it\'s all going to turn into pumpkins and mice,\" he said. \"People think they\'ll be able to get out just before midnight, but everyone else thinks that too.\"\r\n\r\nhttp:\/\/seekingalpha.com\/article\/10162-warren-buffett-warns-on-commodities',''); return false;">Quote</a></div> Warren Buffett:

“”What the wise man does at the beginning the fool does at the end,” he quipped. “Once a price history develops enough for other people to see it and get envious, that takes over markets. We’re seeing that some areas of the commodity markets.”

The Berkshire chairman also warned that it could end badly, likening commodity markets to Cinderella at the ball. “At the start of the party, the punch is flowing and everything’s going well, but you know at midnight it’s all going to turn into pumpkins and mice,” he said. “People think they’ll be able to get out just before midnight, but everyone else thinks that too.”

http://seekingalpha.com/article/10162-warren-buffett-warns-on-commodities

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]]> By: Lionelhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24908 Lionel Wed, 12 Sep 2007 15:16:56 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24908 I'm amazed at how many savvy friends got hammered when the tech bubble burst. My best buddy is known for being very calculating and cold-blooded about his financial decisions and he was left holding a pretty big bag. It will be interesting to see who amongst my friends will get nailed when the bubble completely deflates.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24908','Lionel',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24908','Lionel','I\'m amazed at how many savvy friends got hammered when the tech bubble burst. My best buddy is known for being very calculating and cold-blooded about his financial decisions and he was left holding a pretty big bag. It will be interesting to see who amongst my friends will get nailed when the bubble completely deflates.',''); return false;">Quote</a></div> I’m amazed at how many savvy friends got hammered when the tech bubble burst. My best buddy is known for being very calculating and cold-blooded about his financial decisions and he was left holding a pretty big bag. It will be interesting to see who amongst my friends will get nailed when the bubble completely deflates.
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]]> By: Affluent Bitter Renterhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24905 Affluent Bitter Renter Wed, 12 Sep 2007 14:07:31 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24905 One more point about timing the market during a bubble - by definition, only a small fraction of people are going to be able to get out at the top (once a significant number of people try to head for the exits, you won't at the top of the market anymore).It's like being in a pyramid or other Ponzi scheme - if you get in early and get out early, you can make money, but by definition the vast majority of participants are going to end up being bagholders.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24905','Affluent Bitter Renter',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24905','Affluent Bitter Renter','One more point about timing the market during a bubble - by definition, only a small fraction of people are going to be able to get out at the top (once a significant number of people try to head for the exits, you won\'t at the top of the market anymore).\r\n\r\nIt\'s like being in a pyramid or other Ponzi scheme - if you get in early and get out early, you can make money, but by definition the vast majority of participants are going to end up being bagholders.',''); return false;">Quote</a></div> One more point about timing the market during a bubble – by definition, only a small fraction of people are going to be able to get out at the top (once a significant number of people try to head for the exits, you won’t at the top of the market anymore).

It’s like being in a pyramid or other Ponzi scheme – if you get in early and get out early, you can make money, but by definition the vast majority of participants are going to end up being bagholders.

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]]> By: georgehttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24904 george Wed, 12 Sep 2007 14:01:51 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24904 Aubrey Cohen seems to actually want to inform his readers. He should win some sort of bubble blog award.The Seattle Times on the other hand ought to just rename itself the Real Estate Industry rag. Is Bibeka Shrestha trying to be a reporter? Or an op-ed writer for the real estate industry?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24904','george',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24904','george','Aubrey Cohen seems to actually want to inform his readers. He should win some sort of bubble blog award. \r\n\r\nThe Seattle Times on the other hand ought to just rename itself the Real Estate Industry rag. Is Bibeka Shrestha trying to be a reporter? Or an op-ed writer for the real estate industry?',''); return false;">Quote</a></div> Aubrey Cohen seems to actually want to inform his readers. He should win some sort of bubble blog award.

The Seattle Times on the other hand ought to just rename itself the Real Estate Industry rag. Is Bibeka Shrestha trying to be a reporter? Or an op-ed writer for the real estate industry?

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]]> By: Affluent Bitter Renterhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24903 Affluent Bitter Renter Wed, 12 Sep 2007 13:59:51 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24903 johnnybigspenda said,

“if thats the case, you just missed out on a 25-50% appreciation (compared to straight up spent rent). Based on your ‘facts’, you should have been able to time this and make a killing.”

In any bubble, if you time things correctly, you can make a killing. The problem is, timing is very difficult – I have numerous acquaintances who were heavily into tech stocks during the dot.com bubble. Not one got out at the top of the market – not one. They all rode the market down, as you are going to do in real estate.

How are your investment properties doing? And how is your RE business? (I understand that getting into mail order vitamin sales is big among former RE workers.) I think that you will end up envying people who had the sense to “sit on the sidelines”.

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]]> By: Teacher Greghttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24900 Teacher Greg Wed, 12 Sep 2007 13:51:37 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24900 Dear Johnnybigspenda,I bought my condo in lower queen anne, aka "uptown", in 2001. Sold it October 2006..made mass loot. Since then I have been renting and waiting for the conditions to be more...how shall we say...buyer friendly. The timing might not be perfect, but not bad.If you have a fixed rate, steady job, a house you like etc. then I wouldn't even bother reading this blog or paying attention to the real estate market. If you are not a buyer or seller market conditions are essentially meaningless (unless of course the entire economy goes supernova...)<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24900','Teacher Greg',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24900','Teacher Greg','Dear Johnnybigspenda, \r\n\r\nI bought my condo in lower queen anne, aka \"uptown\", in 2001. Sold it October 2006..made mass loot. Since then I have been renting and waiting for the conditions to be more...how shall we say...buyer friendly. The timing might not be perfect, but not bad. \r\n\r\nIf you have a fixed rate, steady job, a house you like etc. then I wouldn\'t even bother reading this blog or paying attention to the real estate market. If you are not a buyer or seller market conditions are essentially meaningless (unless of course the entire economy goes supernova...)',''); return false;">Quote</a></div> Dear Johnnybigspenda,

I bought my condo in lower queen anne, aka “uptown”, in 2001. Sold it October 2006..made mass loot. Since then I have been renting and waiting for the conditions to be more…how shall we say…buyer friendly. The timing might not be perfect, but not bad.

If you have a fixed rate, steady job, a house you like etc. then I wouldn’t even bother reading this blog or paying attention to the real estate market. If you are not a buyer or seller market conditions are essentially meaningless (unless of course the entire economy goes supernova…)

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]]> By: Teacher Greghttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24897 Teacher Greg Wed, 12 Sep 2007 13:46:43 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24897 Dear Johnnybigspenda, I bought my condo (in lower queen anne aka "Uptown") in 2001 sold it last october and made said killing. I have been renting since then and waiting with my pile of loot to get back in once the terms are more in a buyers favor....spring time perhaps?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24897','Teacher Greg',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24897','Teacher Greg','Dear Johnnybigspenda, I bought my condo (in lower queen anne aka \"Uptown\") in 2001 sold it last october and made said killing. I have been renting since then and waiting with my pile of loot to get back in once the terms are more in a buyers favor....spring time perhaps?',''); return false;">Quote</a></div> Dear Johnnybigspenda, I bought my condo (in lower queen anne aka “Uptown”) in 2001 sold it last october and made said killing. I have been renting since then and waiting with my pile of loot to get back in once the terms are more in a buyers favor….spring time perhaps?
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]]> By: jhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24896 j Wed, 12 Sep 2007 13:29:10 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24896 anyone drive through orting lately? talk about master planned foreclosure/forsale land. Reminds me of all of those inland empire communities. If you need to find it bursting in the Puget Sound, head down there. Yet they're still building 100's of homes down there.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24896','j',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24896','j','anyone drive through orting lately? talk about master planned foreclosure\/forsale land. Reminds me of all of those inland empire communities. If you need to find it bursting in the Puget Sound, head down there. \r\nYet they\'re still building 100\'s of homes down there.',''); return false;">Quote</a></div> anyone drive through orting lately? talk about master planned foreclosure/forsale land. Reminds me of all of those inland empire communities. If you need to find it bursting in the Puget Sound, head down there.
Yet they’re still building 100’s of homes down there.
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]]> By: Jayhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24863 Jay Wed, 12 Sep 2007 08:09:03 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24863 Orion,You left out the best one of all: Debt is Wealth...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24863','Jay',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24863','Jay','Orion,\r\n\r\nYou left out the best one of all:\r\nDebt is Wealth...',''); return false;">Quote</a></div> Orion,

You left out the best one of all:
Debt is Wealth…

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]]> By: Jeffhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24862 Jeff Wed, 12 Sep 2007 08:07:56 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24862 johnnybigspenda,You sound angry and very nervous. How's that house and mortgage feeling about now? Take heart, it will only get worse.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24862','Jeff',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24862','Jeff','johnnybigspenda,\r\n\r\nYou sound angry and very nervous. How\'s that house and mortgage feeling about now? Take heart, it will only get worse.',''); return false;">Quote</a></div> johnnybigspenda,

You sound angry and very nervous. How’s that house and mortgage feeling about now? Take heart, it will only get worse.

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]]> By: Johnhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24855 John Wed, 12 Sep 2007 06:34:32 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24855 You all should be Warren Buffet’s of realestate.

johnnybigspenda, since you mentioned Warren Buffett, do you know he didn’t participate in the dot-com bubble at all? Some people, even his shareholders, thought he was an idiot at the time.

Have you checked the home builders and financial stocks lately?

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]]> By: johnnybigspendahttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24844 johnnybigspenda Wed, 12 Sep 2007 04:27:46 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24844 Keep on saying the same thing for long enough and eventually you will be correct... some call it coincidence... some call it the natural down part of the realestate cycle, some call it a self fullfilling prophecy....Based on all of the 'facts' that paints such a clear undisputable picture, your timing is still a little off. Many here have been calling it a bubble since 2004... if thats the case, you just missed out on a 25-50% appreciation (compared to straight up spent rent). Based on your 'facts', you should have been able to time this and make a killing. Infact, if I were you all, I'd be shorting every stock related to your hypothesis. You all should be Warren Buffet's of realestate.Sitting on the sidelines is easy. Airchair quarterbacks...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24844','johnnybigspenda',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24844','johnnybigspenda','Keep on saying the same thing for long enough and eventually you will be correct... some call it coincidence... some call it the natural down part of the realestate cycle, some call it a self fullfilling prophecy.... \r\n\r\nBased on all of the \'facts\' that paints such a clear undisputable picture, your timing is still a little off. Many here have been calling it a bubble since 2004... if thats the case, you just missed out on a 25-50% appreciation (compared to straight up spent rent). Based on your \'facts\', you should have been able to time this and make a killing. Infact, if I were you all, I\'d be shorting every stock related to your hypothesis. You all should be Warren Buffet\'s of realestate. \r\n\r\nSitting on the sidelines is easy. Airchair quarterbacks...',''); return false;">Quote</a></div> Keep on saying the same thing for long enough and eventually you will be correct… some call it coincidence… some call it the natural down part of the realestate cycle, some call it a self fullfilling prophecy….

Based on all of the ‘facts’ that paints such a clear undisputable picture, your timing is still a little off. Many here have been calling it a bubble since 2004… if thats the case, you just missed out on a 25-50% appreciation (compared to straight up spent rent). Based on your ‘facts’, you should have been able to time this and make a killing. Infact, if I were you all, I’d be shorting every stock related to your hypothesis. You all should be Warren Buffet’s of realestate.

Sitting on the sidelines is easy. Airchair quarterbacks…

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]]> By: Old Ballardhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24843 Old Ballard Wed, 12 Sep 2007 04:25:18 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24843 So here's the question. Where's Shawn?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24843','Old Ballard',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24843','Old Ballard','So here\'s the question. Where\'s Shawn?',''); return false;">Quote</a></div> So here’s the question. Where’s Shawn?
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]]> By: EconEhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24840 EconE Wed, 12 Sep 2007 03:53:44 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24840 Lionel...you're talking about apples and oranges here. Pacific Palisades and Brentwood are high end areas. Valley Village is not. ;o)Not that I completely doubt a $600 rent increase is impossible...just unlikely or unfortunate.And saying that any bubbled up area is a good deal compared to another bubbled up area is akin to looking at the two ugliest women at a bar and saying..."well...the 400 pounder is much prettier than the 500 pounder...I think I'll go home with her"<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24840','EconE',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24840','EconE','Lionel...you\'re talking about apples and oranges here. Pacific Palisades and Brentwood are high end areas. Valley Village is not. ;o)\r\n\r\nNot that I completely doubt a $600 rent increase is impossible...just unlikely or unfortunate.\r\n\r\nAnd saying that any bubbled up area is a good deal compared to another bubbled up area is akin to looking at the two ugliest women at a bar and saying...\r\n\r\n\"well...the 400 pounder is much prettier than the 500 pounder...I think I\'ll go home with her\"',''); return false;">Quote</a></div> Lionel…you’re talking about apples and oranges here. Pacific Palisades and Brentwood are high end areas. Valley Village is not. ;o)

Not that I completely doubt a $600 rent increase is impossible…just unlikely or unfortunate.

And saying that any bubbled up area is a good deal compared to another bubbled up area is akin to looking at the two ugliest women at a bar and saying…

“well…the 400 pounder is much prettier than the 500 pounder…I think I’ll go home with her”

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]]> By: Toad37http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24839 Toad37 Wed, 12 Sep 2007 03:51:37 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24839 Hey guys, I agree the market is on trouble. I'm selling my place in Mapleleaf and renting for a while to see how things shake out. I'll miss my house, but hey, it's just a house....<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24839','Toad37',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24839','Toad37','Hey guys, I agree the market is on trouble. I\'m selling my place in Mapleleaf and renting for a while to see how things shake out. I\'ll miss my house, but hey,\r\nit\'s just a house....',''); return false;">Quote</a></div> Hey guys, I agree the market is on trouble. I’m selling my place in Mapleleaf and renting for a while to see how things shake out. I’ll miss my house, but hey,
it’s just a house….
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]]> By: Puget Sounderhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24835 Puget Sounder Wed, 12 Sep 2007 03:00:41 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24835 $1400 per month is Queen Anne Hill money for a small 2 br (you might even find a rented condo for that!) The same money in Juanita is just nuts.Some better deals in the same price range:http://seattle.craigslist.org/see/apa/420060913.htmlhttp://seattle.craigslist.org/see/apa/420059496.htmlhttp://seattle.craigslist.org/est/apa/420014710.http://seattle.craigslist.org/est/apa/420014687.html<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24835','Puget Sounder',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24835','Puget Sounder','$1400 per month is Queen Anne Hill money for a small 2 br (you might even find a rented condo for that!) The same money in Juanita is just nuts.\r\n\r\nSome better deals in the same price range:\r\n\r\nhttp:\/\/seattle.craigslist.org\/see\/apa\/420060913.html\r\n\r\nhttp:\/\/seattle.craigslist.org\/see\/apa\/420059496.html\r\n\r\nhttp:\/\/seattle.craigslist.org\/est\/apa\/420014710.\r\n\r\nhttp:\/\/seattle.craigslist.org\/est\/apa\/420014687.html',''); return false;">Quote</a></div> $1400 per month is Queen Anne Hill money for a small 2 br (you might even find a rented condo for that!) The same money in Juanita is just nuts.

Some better deals in the same price range:

http://seattle.craigslist.org/see/apa/420060913.html

http://seattle.craigslist.org/see/apa/420059496.html

http://seattle.craigslist.org/est/apa/420014710.

http://seattle.craigslist.org/est/apa/420014687.html

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]]> By: Lionelhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24834 Lionel Wed, 12 Sep 2007 02:53:52 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24834 Unfortunately I can vouch for rental increases in LA. My 2 bedroom in Pacific Palisades cost 1200/month only three years ago. We moved out, heard from a neighbor that it was rented for 1700 (and strangely just used for storage!). It came up again this summer and was rented at 2200. My best buddy just rented a two bedroom apartment in Brentwood, nice place, but 2600. Basically my wife and I were getting squeezed out to the Valley, and well, that ain't never gonna happen. Hate the place. Yes, Seattle is a much, much better rental market. Not even close. (But I wouldn't mind if it went down a touch.)<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24834','Lionel',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24834','Lionel','Unfortunately I can vouch for rental increases in LA. My 2 bedroom in Pacific Palisades cost 1200\/month only three years ago. We moved out, heard from a neighbor that it was rented for 1700 (and strangely just used for storage!). It came up again this summer and was rented at 2200. My best buddy just rented a two bedroom apartment in Brentwood, nice place, but 2600. Basically my wife and I were getting squeezed out to the Valley, and well, that ain\'t never gonna happen. Hate the place. Yes, Seattle is a much, much better rental market. Not even close. (But I wouldn\'t mind if it went down a touch.)',''); return false;">Quote</a></div> Unfortunately I can vouch for rental increases in LA. My 2 bedroom in Pacific Palisades cost 1200/month only three years ago. We moved out, heard from a neighbor that it was rented for 1700 (and strangely just used for storage!). It came up again this summer and was rented at 2200. My best buddy just rented a two bedroom apartment in Brentwood, nice place, but 2600. Basically my wife and I were getting squeezed out to the Valley, and well, that ain’t never gonna happen. Hate the place. Yes, Seattle is a much, much better rental market. Not even close. (But I wouldn’t mind if it went down a touch.)
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]]> By: stephenhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24831 stephen Wed, 12 Sep 2007 02:17:07 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24831 Hey my rent on a 2 bedroom 820 sq crappy remodeled 30 year apartment in Juanita went from $984 to $1405 last December. They would have gone I think $50 cheaper if I signed another year and wouldn't even consider a 6 month...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24831','stephen',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24831','stephen','Hey my rent on a 2 bedroom 820 sq crappy remodeled 30 year apartment in Juanita went from $984 to $1405 last December. They would have gone I think $50 cheaper if I signed another year and wouldn\'t even consider a 6 month...',''); return false;">Quote</a></div> Hey my rent on a 2 bedroom 820 sq crappy remodeled 30 year apartment in Juanita went from $984 to $1405 last December. They would have gone I think $50 cheaper if I signed another year and wouldn’t even consider a 6 month…
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]]> By: Old Ballardhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24826 Old Ballard Wed, 12 Sep 2007 01:29:35 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24826 Shawn,What, are you kidding me? 98607. That's Valley Village/North Hollywood. I'm sorry, but I don't believe you. $600.00/month. Details, man. What do you rent and what was your old rent. Only time I hear about this happening is when the rental was sold and the old owner was renting way under the market."So, to folks here, Seattle still seems like a good deal."Shawn, why don't I recognize for name. I you ever posted a comment on the SEATTLE BUBBLE. Are you in LA or are really in Seattle.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24826','Old Ballard',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24826','Old Ballard','Shawn,\r\n\r\nWhat, are you kidding me? 98607. That\'s Valley Village\/North Hollywood. I\'m sorry, but I don\'t believe you. $600.00\/month. Details, man. What do you rent and what was your old rent. Only time I hear about this happening is when the rental was sold and the old owner was renting way under the market.\r\n\r\n\"So, to folks here, Seattle still seems like a good deal.\"\r\n\r\nShawn, why don\'t I recognize for name. I you ever posted a comment on the SEATTLE BUBBLE. Are you in LA or are really in Seattle.',''); return false;">Quote</a></div> Shawn,

What, are you kidding me? 98607. That’s Valley Village/North Hollywood. I’m sorry, but I don’t believe you. $600.00/month. Details, man. What do you rent and what was your old rent. Only time I hear about this happening is when the rental was sold and the old owner was renting way under the market.

“So, to folks here, Seattle still seems like a good deal.”

Shawn, why don’t I recognize for name. I you ever posted a comment on the SEATTLE BUBBLE. Are you in LA or are really in Seattle.

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]]> By: ExCaliGuyhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24819 ExCaliGuy Wed, 12 Sep 2007 00:26:51 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24819 Hey Shawn I feel for you man. My landlord in LA raised my rent 15% 5 months back and it was the last straw for me. I moved to Seattle and bought a place.I don't think LA or SFO are worth the money. You certainly cannot afford to buy anything you would want to live in and rents are going insane due to people deferring buying homes. You should check out Nashville, Austin, Denver or Raleigh Durham.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24819','ExCaliGuy',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24819','ExCaliGuy','Hey Shawn I feel for you man. My landlord in LA raised my rent 15% 5 months back and it was the last straw for me. I moved to Seattle and bought a place. \r\n\r\nI don\'t think LA or SFO are worth the money. You certainly cannot afford to buy anything you would want to live in and rents are going insane due to people deferring buying homes. You should check out Nashville, Austin, Denver or Raleigh Durham.',''); return false;">Quote</a></div> Hey Shawn I feel for you man. My landlord in LA raised my rent 15% 5 months back and it was the last straw for me. I moved to Seattle and bought a place.

I don’t think LA or SFO are worth the money. You certainly cannot afford to buy anything you would want to live in and rents are going insane due to people deferring buying homes. You should check out Nashville, Austin, Denver or Raleigh Durham.

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]]> By: uptownhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24817 uptown Wed, 12 Sep 2007 00:19:59 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24817 Shawn, have you looked at craigslist? Lots of rentals listed there for your area. Prices don't seem that high - I payed $900/month for a 1 bedroom in the early 90's just north of LAX and a few blocks from the beach (no view).<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24817','uptown',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24817','uptown','Shawn, have you looked at craigslist? Lots of rentals listed there for your area. Prices don\'t seem that high - I payed $900\/month for a 1 bedroom in the early 90\'s just north of LAX and a few blocks from the beach (no view).',''); return false;">Quote</a></div> Shawn, have you looked at craigslist? Lots of rentals listed there for your area. Prices don’t seem that high – I payed $900/month for a 1 bedroom in the early 90’s just north of LAX and a few blocks from the beach (no view).
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]]> By: TJ_98370http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24810 TJ_98370 Tue, 11 Sep 2007 23:54:57 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24810 Off topic again. I finally made contact with Groundhogday at Ben Jones HBB about Glen Crellin —

Comment by TJ_98370

2007-09-11 15:48:14

Hey Groundhogday – Did you say awhile back that you knew / worked with Glen Crellin?

——————

Comment by Groundhogday

2007-09-11 16:06:20

We aren’t friends and I’ve never actually met him face to face. But I have called or emailed him once a quarter or so to get the news behind the news, what is happening in Pullman etc… He’s a very friendly guy and a good source of MLS data.

I do have another more personal “source” in that center if you are interested in a particular bit of info.

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Comment by TJ_98370
2007-09-11 15:59:53

Groundhogday,

This post is a bit redundant (see your previous comment), but I believe you once mentioned that you knew / worked with Glen Crellin. If that is the case, do you know how he is funded? Does WSU pay him a salary or is he funded by some Realtor Association? Some of us regulars at Seattle Bubble blog are curious.

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Comment by Groundhogday
2007-09-11 16:10:31

The center (3 staff I think) is funded almost entirely by the Washington Association of Realtors.

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Comment by TJ_98370
2007-09-11 16:38:34

Groundhogday,
Thanx for the response. You ought to come visit as Mr. Crellin was a subject of discussion awhile ago.

http://seattlebubble.com/blog/

Specifically, some of us wondered about his objectivity in his articles. Being funded by WSU would have made his articles more credible due to lack of possible conflict of interest issues.

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]]> By: Shawnhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24809 Shawn Tue, 11 Sep 2007 23:50:42 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24809 Hi A,yes, I am going to move. But rents are up a lot in Los Angeles. And there are not a lot of vacancies. Seems there is no winning in this bubble, everyone is getting burned. I live in 91607, seems like regular USA, but homes here are going for about a million. The cheapest I could get would be a tiny poor condition condo for 350 to 400k. So, to folks here, Seattle still seems like a good deal. Except that here we have sunshine days everyday. I am looking at Minneapolis now rather than Seattle for a relocation.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24809','Shawn',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24809','Shawn','Hi A,\r\n\r\nyes, I am going to move. But rents are up a lot in Los Angeles. And there are not a lot of vacancies. Seems there is no winning in this bubble, everyone is getting burned. I live in 91607, seems like regular USA, but homes here are going for about a million. The cheapest I could get would be a tiny poor condition condo for 350 to 400k. So, to folks here, Seattle still seems like a good deal. Except that here we have sunshine days everyday. I am looking at Minneapolis now rather than Seattle for a relocation.',''); return false;">Quote</a></div> Hi A,

yes, I am going to move. But rents are up a lot in Los Angeles. And there are not a lot of vacancies. Seems there is no winning in this bubble, everyone is getting burned. I live in 91607, seems like regular USA, but homes here are going for about a million. The cheapest I could get would be a tiny poor condition condo for 350 to 400k. So, to folks here, Seattle still seems like a good deal. Except that here we have sunshine days everyday. I am looking at Minneapolis now rather than Seattle for a relocation.

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]]> By: greenthumhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24806 greenthum Tue, 11 Sep 2007 23:26:49 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24806 Orion:I couldn't agree more! I stopped watching TV news about six years ago. What a waste of time. Our local newspapers are no better. I'm relying more and more on the Internet. At least there I can get both sides of the story.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24806','greenthum',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24806','greenthum','Orion:\r\n\r\nI couldn\'t agree more! I stopped watching TV news about six years ago. What a waste of time. Our local newspapers are no better. I\'m relying more and more on the Internet. At least there I can get both sides of the story.',''); return false;">Quote</a></div> Orion:

I couldn’t agree more! I stopped watching TV news about six years ago. What a waste of time. Our local newspapers are no better. I’m relying more and more on the Internet. At least there I can get both sides of the story.

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]]> By: Lake Hills Renterhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24803 Lake Hills Renter Tue, 11 Sep 2007 23:13:29 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24803 I beg to differ. The local media <b>never</b> gets the weather right.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24803','Lake Hills Renter',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24803','Lake Hills Renter','I beg to differ. The local media <b>never<\/b> gets the weather right.',''); return false;">Quote</a></div> I beg to differ. The local media never gets the weather right.
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]]> By: Orionhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24800 Orion Tue, 11 Sep 2007 22:41:18 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24800 I'm getting sick of the MSM. I trust them less and less all the time. Thank goodness for the "Internets"! I heard on the news this morning the same BS about how prices are rising in the Seattle area. NO.. PRICES ARE NOT RISING! They are either dumb-asses or are being purposefully deceptive to their audience. A price metric which has limited value these days, the median price, is rising. That doesn't mean that your Ballard SFH has risen in value the past couple of months. If you bought it a few months ago and you have to sell it now you will be getting less. That means prices have gone down. Down is not up. War is not peace. Freedom is not slavery. Ignorance is not strength. All the local TV news is good for is the weather, they seem to get that right. Every other story is handled with such shallow vacuousness that it is pathetic. It's Revolution Time my bubble brothers and sisters!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24800','Orion',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24800','Orion','I\'m getting sick of the MSM. I trust them less and less all the time. Thank goodness for the \"Internets\"! I heard on the news this morning the same BS about how prices are rising in the Seattle area. NO.. PRICES ARE NOT RISING! They are either dumb-asses or are being purposefully deceptive to their audience. A price metric which has limited value these days, the median price, is rising. That doesn\'t mean that your Ballard SFH has risen in value the past couple of months. If you bought it a few months ago and you have to sell it now you will be getting less. That means prices have gone down. Down is not up. War is not peace. Freedom is not slavery. Ignorance is not strength. All the local TV news is good for is the weather, they seem to get that right. Every other story is handled with such shallow vacuousness that it is pathetic. It\'s Revolution Time my bubble brothers and sisters!',''); return false;">Quote</a></div> I’m getting sick of the MSM. I trust them less and less all the time. Thank goodness for the “Internets”! I heard on the news this morning the same BS about how prices are rising in the Seattle area. NO.. PRICES ARE NOT RISING! They are either dumb-asses or are being purposefully deceptive to their audience. A price metric which has limited value these days, the median price, is rising. That doesn’t mean that your Ballard SFH has risen in value the past couple of months. If you bought it a few months ago and you have to sell it now you will be getting less. That means prices have gone down. Down is not up. War is not peace. Freedom is not slavery. Ignorance is not strength. All the local TV news is good for is the weather, they seem to get that right. Every other story is handled with such shallow vacuousness that it is pathetic. It’s Revolution Time my bubble brothers and sisters!
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]]> By: TJ_98370http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24799 TJ_98370 Tue, 11 Sep 2007 22:32:03 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24799 An interesting comment made by a Bellingham Realtor that portends things to come:

…..“One concern I have is that pending sales are down significantly, so that’s something worth watching in the coming months. These (August) home sales were being finalized before the national credit issues began surfacing.”…..

Bellingham Herald

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]]> By: TJ_98370http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24796 TJ_98370 Tue, 11 Sep 2007 22:19:22 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24796 The Bellingham Herald is also quoted --<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24796','TJ_98370',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24796','TJ_98370','The Bellingham Herald is also quoted --',''); return false;">Quote</a></div> The Bellingham Herald is also quoted –
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]]> By: TJ_98370http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24795 TJ_98370 Tue, 11 Sep 2007 22:11:09 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24795 Off topic, but of interest ----Pacific Northwest news and newspapers Seattle PI, Seattle Times, News Tribune, Olympian, Columbian, and the Herald Net are all mentioned in Ben Jones' HBB today.<a href="http://thehousingbubbleblog.com/?p=3400" rel="nofollow">Buyers are Asking for More and Offering Less</a><div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24795','TJ_98370',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24795','TJ_98370','Off topic, but of interest ----\r\n\r\nPacific Northwest news and newspapers Seattle PI, Seattle Times, News Tribune, Olympian, Columbian, and the Herald Net are all mentioned in Ben Jones\' HBB today. \r\n\r\n<a href=\"http:\/\/thehousingbubbleblog.com\/?p=3400\" rel=\"nofollow\">Buyers are Asking for More and Offering Less<\/a>',''); return false;">Quote</a></div> Off topic, but of interest —-

Pacific Northwest news and newspapers Seattle PI, Seattle Times, News Tribune, Olympian, Columbian, and the Herald Net are all mentioned in Ben Jones’ HBB today.

Buyers are Asking for More and Offering Less

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]]> By: Ahttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24792 A Tue, 11 Sep 2007 21:52:20 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24792 Shawn, could you give more details? Why such a big increase in rent? Is it a very good location? It seems to me that the answer to that increase would be to move.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24792','A',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24792','A','Shawn, could you give more details? Why such a big increase in rent? Is it a very good location? It seems to me that the answer to that increase would be to move.',''); return false;">Quote</a></div> Shawn, could you give more details? Why such a big increase in rent? Is it a very good location? It seems to me that the answer to that increase would be to move.
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]]> By: Bucerihttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24781 Buceri Tue, 11 Sep 2007 19:59:43 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24781 I say we hit 11,000 this evening!!! Who is with me? Who knows?? Maybe inventory will pass the Dow in a couple of months?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24781','Buceri',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24781','Buceri','I say we hit 11,000 this evening!!! Who is with me?\r\nWho knows?? Maybe inventory will pass the Dow in a couple of months?',''); return false;">Quote</a></div> I say we hit 11,000 this evening!!! Who is with me?
Who knows?? Maybe inventory will pass the Dow in a couple of months?
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]]> By: Grvettihttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24780 Grvetti Tue, 11 Sep 2007 19:55:07 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24780 <i>What real estate office you work for?</i>Not following your analogy, dude... what're you talking about<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24780','Grvetti',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24780','Grvetti','<i>What real estate office you work for?<\/i>\r\n\r\nNot following your analogy, dude... what\'re you talking about',''); return false;">Quote</a></div> What real estate office you work for?

Not following your analogy, dude… what’re you talking about

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]]> By: softwarengineerhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24777 softwarengineer Tue, 11 Sep 2007 19:52:05 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24777 HI GRVETTII take it you're already betting on Ohio State to win and the Huskies haven't had a chance to embarrass them?What real estate office you work for?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24777','softwarengineer',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24777','softwarengineer','HI GRVETTI\r\n\r\nI take it you\'re already betting on Ohio State to win and the Huskies haven\'t had a chance to embarrass them?\r\n\r\nWhat real estate office you work for?',''); return false;">Quote</a></div> HI GRVETTI

I take it you’re already betting on Ohio State to win and the Huskies haven’t had a chance to embarrass them?

What real estate office you work for?

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]]> By: Shawnhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24776 Shawn Tue, 11 Sep 2007 19:51:45 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24776 BTW, my rent was just increased $600.00/month with a sixty day notice. If Seattle is behind Los Angeles' curve, beware renters. For my fellow renters, I hope Seattle is special and you folks don't see the rent increase I am suffering! I just hope more of these empty condos hit the market soon and bring rent prices down, casue this is nuts?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24776','Shawn',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24776','Shawn','BTW, my rent was just increased $600.00\/month with a sixty day notice. If Seattle is behind Los Angeles\' curve, beware renters. For my fellow renters, I hope Seattle is special and you folks don\'t see the rent increase I am suffering! I just hope more of these empty condos hit the market soon and bring rent prices down, casue this is nuts?',''); return false;">Quote</a></div> BTW, my rent was just increased $600.00/month with a sixty day notice. If Seattle is behind Los Angeles’ curve, beware renters. For my fellow renters, I hope Seattle is special and you folks don’t see the rent increase I am suffering! I just hope more of these empty condos hit the market soon and bring rent prices down, casue this is nuts?
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]]> By: Grvettihttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24773 Grvetti Tue, 11 Sep 2007 19:29:25 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24773 “There are a lot of first-time buyers who are holding onto the belief that the market’s going to change, so they shouldn’t buy,”

Yes, “holding onto the belief”, because… you know… “belief” has no basis in fact or anything, unlike calculated market predictions based on unsustainable growth and underlying fundementals… ’cause all those side-lined buyers are just stupid sheeple who should “buy now or get priced out forever”!

Its amazing this joker, Jim Pattison gets a shred of business considering the contempt he has for his clientele.l

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]]> By: Pgniss Mcgeehttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24772 Pgniss Mcgee Tue, 11 Sep 2007 19:20:26 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24772 Either looking online or by car, its clear there are lots of homes for sale out there. The prices just haven't broke yet. Windermere online shows hundreds of homes for sale in southwest seattle, and plenty for sale in madison east cap hill as well. People are trying to get out at inflated prices while they can, if they can, because jumbo mortgages are history. I was in Westport last weekend, and the ENTIRE town had for sale signs all over it. I must've seen over a hundred in just the few square miles that make up that sandspit. Dont know why, but there you go.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24772','Pgniss Mcgee',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24772','Pgniss Mcgee','Either looking online or by car, its clear there are lots of homes for sale out there. The prices just haven\'t broke yet.\r\nWindermere online shows hundreds of homes for sale in southwest seattle, and plenty for sale in madison east cap hill as well. People are trying to get out at inflated prices while they can, if they can, because jumbo mortgages are history. I was in Westport last weekend, and the ENTIRE town had for sale signs all over it. I must\'ve seen over a hundred in just the few square miles that make up that sandspit. Dont know why, but there you go.',''); return false;">Quote</a></div> Either looking online or by car, its clear there are lots of homes for sale out there. The prices just haven’t broke yet.
Windermere online shows hundreds of homes for sale in southwest seattle, and plenty for sale in madison east cap hill as well. People are trying to get out at inflated prices while they can, if they can, because jumbo mortgages are history. I was in Westport last weekend, and the ENTIRE town had for sale signs all over it. I must’ve seen over a hundred in just the few square miles that make up that sandspit. Dont know why, but there you go.
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]]> By: Alanhttp://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24770 Alan Tue, 11 Sep 2007 19:10:55 +0000 http://seattlebubble.com/blog/2007/09/11/august-reporting-roundup/#comment-24770 A worker would have to earn $57 an hour — about $119,000 a year — to afford that Seattle ($501k) home, according to the Seattle chapter of the Urban Land Institute.

Boy, that Urban Land Institute must really want people to stretch their finances. I guess its members know how to buy foreclosures.

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