Comments on: Welcome 710 KIRO Listeners http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/ local real estate news, statistics, and commentary without the sales spin. Sat, 20 Mar 2010 06:00:18 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Curtishttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-34352 Curtis Wed, 26 Dec 2007 23:02:26 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-34352 Our market has crashed so badly. My husband and I are trying to find a home to buy, but it is scary because the market has gotten so bad. We might never be able to sell it again!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('34352','Curtis',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('34352','Curtis','Our market has crashed so badly. My husband and I are trying to find a home to buy, but it is scary because the market has gotten so bad. We might never be able to sell it again!',''); return false;">Quote</a></div> Our market has crashed so badly. My husband and I are trying to find a home to buy, but it is scary because the market has gotten so bad. We might never be able to sell it again!
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]]> By: Markorhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33212 Markor Fri, 14 Dec 2007 02:35:50 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33212

I wouldn’t chase the bottom so much as the deal. Do a lot of research and check comps almost weekly for the areas you are looking in.

Great advice methinks. Just being the only bidder in a bear market can be worth 5% off. By the time the masses perceive the bottom, it’s too late.

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]]> By: bitterownerhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33201 bitterowner Fri, 14 Dec 2007 00:40:45 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33201 “I wouldn’t chase the bottom so much as the deal.”

Today’s deal is tomorrow’s overpriced POS.

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]]> By: rafaelhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33138 rafael Thu, 13 Dec 2007 17:27:09 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33138 <p><a href="http://www.minyanville.com/articles/socialism-banks-DJIA-Bernanke/index/a/15035" rel="nofollow">Great article by world renowned "DAS"</a></p> <div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33138','rafael',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33138','rafael','<p><a href=\"http:\/\/www.minyanville.com\/articles\/socialism-banks-DJIA-Bernanke\/index\/a\/15035\" rel=\"nofollow\">Great article by world renowned \"DAS\"<\/a><\/p>\r\n',''); return false;">Quote</a></div> Great article by world renowned “DAS”

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]]> By: stephenhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33130 stephen Thu, 13 Dec 2007 15:38:58 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33130 Tim, Great job. I've always thought you have a more level approach than many on this blog. In the two years I've been around the blog you have always given value to the home side of buying a house.I am so glad I'm not going to be sitting in someone else's house/apt for the next 5 years waiting for your predicted drop. It may happen, it may not happen. I personally doubt this market will collectively drop over 20% but who knows. In our hunt I saw a ton of houses that were absurdly priced and I wouldn't be surprised if they drop 50%+. By the time you average all the crap in with decent houses selling right last year and right this maybe 30% will be the number. Fortunately my house is special and will not drop at all (may even appreciate, smile)I assume most renters on this blog want to own a house eventually (or why the interest in the blog in the first place) and now is a great time to start kicking tires and doing drive-by's. We spent 6 months looking and bought at 06 comps in an area that 1) Didn't rise as much and 2) softened sooner. In this market you might spend a year or more finding both a good deal and nice home.I wouldn't chase the bottom so much as the deal. Do a lot of research and check comps almost weekly for the areas you are looking in.My 2 cents worth...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33130','stephen',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33130','stephen','Tim,\r\nGreat job. I\'ve always thought you have a more level approach than many on this blog. In the two years I\'ve been around the blog you have always given value to the home side of buying a house. \r\n\r\nI am so glad I\'m not going to be sitting in someone else\'s house\/apt for the next 5 years waiting for your predicted drop. It may happen, it may not happen. I personally doubt this market will collectively drop over 20% but who knows. In our hunt I saw a ton of houses that were absurdly priced and I wouldn\'t be surprised if they drop 50%+. By the time you average all the crap in with decent houses selling right last year and right this maybe 30% will be the number. Fortunately my house is special and will not drop at all (may even appreciate, smile)\r\n\r\nI assume most renters on this blog want to own a house eventually (or why the interest in the blog in the first place) and now is a great time to start kicking tires and doing drive-by\'s. We spent 6 months looking and bought at 06 comps in an area that 1) Didn\'t rise as much and 2) softened sooner. In this market you might spend a year or more finding both a good deal and nice home. \r\n\r\nI wouldn\'t chase the bottom so much as the deal. Do a lot of research and check comps almost weekly for the areas you are looking in.\r\n\r\nMy 2 cents worth...',''); return false;">Quote</a></div> Tim,
Great job. I’ve always thought you have a more level approach than many on this blog. In the two years I’ve been around the blog you have always given value to the home side of buying a house.

I am so glad I’m not going to be sitting in someone else’s house/apt for the next 5 years waiting for your predicted drop. It may happen, it may not happen. I personally doubt this market will collectively drop over 20% but who knows. In our hunt I saw a ton of houses that were absurdly priced and I wouldn’t be surprised if they drop 50%+. By the time you average all the crap in with decent houses selling right last year and right this maybe 30% will be the number. Fortunately my house is special and will not drop at all (may even appreciate, smile)

I assume most renters on this blog want to own a house eventually (or why the interest in the blog in the first place) and now is a great time to start kicking tires and doing drive-by’s. We spent 6 months looking and bought at 06 comps in an area that 1) Didn’t rise as much and 2) softened sooner. In this market you might spend a year or more finding both a good deal and nice home.

I wouldn’t chase the bottom so much as the deal. Do a lot of research and check comps almost weekly for the areas you are looking in.

My 2 cents worth…

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]]> By: Bucerihttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33125 Buceri Thu, 13 Dec 2007 12:58:57 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33125 As always; a plain English piece by an msn money writer (J. Markman). It's short.http://articles.moneycentral.msn.com/Investing/SuperModels/HowForeignersAreBuyingUpOurBanks.aspx?page=all<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33125','Buceri',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33125','Buceri','As always; a plain English piece by an msn money writer (J. Markman). It\'s short.\r\n\r\nhttp:\/\/articles.moneycentral.msn.com\/Investing\/SuperModels\/HowForeignersAreBuyingUpOurBanks.aspx?page=all',''); return false;">Quote</a></div> As always; a plain English piece by an msn money writer (J. Markman). It’s short.

http://articles.moneycentral.msn.com/Investing/SuperModels/HowForeignersAreBuyingUpOurBanks.aspx?page=all

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]]> By: Eleuahttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33104 Eleua Thu, 13 Dec 2007 07:23:47 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33104 <blockquote>No product knowledge, no market knowledge, no crystal ball, but for sure you have an opinion.</blockquote>I'd like to point out that those that should have been "in the know" over the past few years were the most incorrect, and those of us that are not getting high on our own supply were the ones that were the most accurate.Tim has an opinion, and it turns out that it aligns well with reality.I do think his call of 20-30% off the peak are somewhat mild, but that's my opinion. If I'm proven right, we will have bigger problems and nobody will care who is right.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33104','Eleua',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33104','Eleua','<blockquote>No product knowledge, no market knowledge, no crystal ball, but for sure you have an opinion.<\/blockquote>\r\n\r\nI\'d like to point out that those that should have been \"in the know\" over the past few years were the most incorrect, and those of us that are not getting high on our own supply were the ones that were the most accurate.\r\n\r\nTim has an opinion, and it turns out that it aligns well with reality. \r\n\r\nI do think his call of 20-30% off the peak are somewhat mild, but that\'s my opinion. If I\'m proven right, we will have bigger problems and nobody will care who is right.',''); return false;">Quote</a></div>

No product knowledge, no market knowledge, no crystal ball, but for sure you have an opinion.

I’d like to point out that those that should have been “in the know” over the past few years were the most incorrect, and those of us that are not getting high on our own supply were the ones that were the most accurate.

Tim has an opinion, and it turns out that it aligns well with reality.

I do think his call of 20-30% off the peak are somewhat mild, but that’s my opinion. If I’m proven right, we will have bigger problems and nobody will care who is right.

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]]> By: Ray Pepperhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33095 Ray Pepper Thu, 13 Dec 2007 05:05:41 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33095 It was short but you got your point across. You are Dead on. 20-30% over the next few years is correct. In fact many homes I have sold recently are 20% off asking price and were in the early stages. Being from Reno Nevada where I can tour you on homes that are vacant from KBH, Lennar, CTX, Landmark etc. with small builders going out of business monthly it is a nightmare. It looks like a plague broke-out and all that is left are the homes. No industry to speak of and foreclosure after foreclosure. Sellers will soon realize that what they thought was the value of their home was in the past. I see no change in 2008 but many many opportunities ahead in the foreclosure market if you are able to secure a loan. The wash out has just begun and it will take many years to stabilize. With the Pacific NW economy remaining robust this 20-30% cap is a fair call. Astute buyers this 2nd time around will make for some very smart purchases ahead.Ray Pepper Broker www.500Realty.net<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33095','Ray Pepper',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33095','Ray Pepper','It was short but you got your point across. You are Dead on. 20-30% over the next few years is correct. In fact many homes I have sold recently are 20% off asking price and were in the early stages. Being from Reno Nevada where I can tour you on homes that are vacant from KBH, Lennar, CTX, Landmark etc. with small builders going out of business monthly it is a nightmare. It looks like a plague broke-out and all that is left are the homes. No industry to speak of and foreclosure after foreclosure. Sellers will soon realize that what they thought was the value of their home was in the past. I see no change in 2008 but many many opportunities ahead in the foreclosure market if you are able to secure a loan. The wash out has just begun and it will take many years to stabilize. With the Pacific NW economy remaining robust this 20-30% cap is a fair call. Astute buyers this 2nd time around will make for some very smart purchases ahead.\r\n\r\nRay Pepper\r\nBroker\r\nwww.500Realty.net',''); return false;">Quote</a></div> It was short but you got your point across. You are Dead on. 20-30% over the next few years is correct. In fact many homes I have sold recently are 20% off asking price and were in the early stages. Being from Reno Nevada where I can tour you on homes that are vacant from KBH, Lennar, CTX, Landmark etc. with small builders going out of business monthly it is a nightmare. It looks like a plague broke-out and all that is left are the homes. No industry to speak of and foreclosure after foreclosure. Sellers will soon realize that what they thought was the value of their home was in the past. I see no change in 2008 but many many opportunities ahead in the foreclosure market if you are able to secure a loan. The wash out has just begun and it will take many years to stabilize. With the Pacific NW economy remaining robust this 20-30% cap is a fair call. Astute buyers this 2nd time around will make for some very smart purchases ahead.

Ray Pepper
Broker
http://www.500Realty.net

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]]> By: Tomhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33089 Tom Thu, 13 Dec 2007 04:24:24 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33089 david losh,Huh? There's plenty of numbers generated from all kinds of places on this, and other sites (census, NWMLS, Case-Schiller, etc) which suggest that there is a bubble, and it's in the process of bursting.What data are you using for your position? (no "common sense" without fact please).<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33089','Tom',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33089','Tom','david losh,\r\n\r\nHuh? There\'s plenty of numbers generated from all kinds of places on this, and other sites (census, NWMLS, Case-Schiller, etc) which suggest that there is a bubble, and it\'s in the process of bursting. \r\n\r\nWhat data are you using for your position? (no \"common sense\" without fact please).',''); return false;">Quote</a></div> david losh,

Huh? There’s plenty of numbers generated from all kinds of places on this, and other sites (census, NWMLS, Case-Schiller, etc) which suggest that there is a bubble, and it’s in the process of bursting.

What data are you using for your position? (no “common sense” without fact please).

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]]> By: david loshhttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33076 david losh Thu, 13 Dec 2007 03:39:45 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33076 Sorry, I really don't get it. You have joined the Real Estate cheer leaders. No product knowledge, no market knowledge, no crystal ball, but for sure you have an opinion. Now that the media is turning to Tim Ellis maybe they are on the right track. Maybe now we can all believe the media is balanced. It's simple, I've seen it before and will see it again. The demand for housing units is staggering. Town houses are extremely expensive but people are paying $500K for them even today. Who can those people blame? Housing bubble? Did the world population just sink into our oceans due to global warming? Did China's economy stop growing this past week and we all kinda missed it? Did our government pass a whole bunch of policies this week to prop up the banking industry? Did the banking industry pass a whole bunch of policies to prop up the world credit crisis? Sorry, today is business as usual. The rich get richer.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33076','david losh',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33076','david losh','Sorry, I really don\'t get it. You have joined the Real Estate cheer leaders. \r\nNo product knowledge, no market knowledge, no crystal ball, but for sure you have an opinion. \r\nNow that the media is turning to Tim Ellis maybe they are on the right track. Maybe now we can all believe the media is balanced. \r\nIt\'s simple, I\'ve seen it before and will see it again. The demand for housing units is staggering. Town houses are extremely expensive but people are paying $500K for them even today. Who can those people blame? \r\nHousing bubble? Did the world population just sink into our oceans due to global warming? Did China\'s economy stop growing this past week and we all kinda missed it? Did our government pass a whole bunch of policies this week to prop up the banking industry? Did the banking industry pass a whole bunch of policies to prop up the world credit crisis? \r\nSorry, today is business as usual. The rich get richer.',''); return false;">Quote</a></div> Sorry, I really don’t get it. You have joined the Real Estate cheer leaders.
No product knowledge, no market knowledge, no crystal ball, but for sure you have an opinion.
Now that the media is turning to Tim Ellis maybe they are on the right track. Maybe now we can all believe the media is balanced.
It’s simple, I’ve seen it before and will see it again. The demand for housing units is staggering. Town houses are extremely expensive but people are paying $500K for them even today. Who can those people blame?
Housing bubble? Did the world population just sink into our oceans due to global warming? Did China’s economy stop growing this past week and we all kinda missed it? Did our government pass a whole bunch of policies this week to prop up the banking industry? Did the banking industry pass a whole bunch of policies to prop up the world credit crisis?
Sorry, today is business as usual. The rich get richer.
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]]> By: AndyMiamihttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33048 AndyMiami Thu, 13 Dec 2007 01:52:23 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-33048 Tim,Great job and very smooth delivery. Only suggestion for future interviews, and I am sure they are coming, is that try to use the comparison to Las Vegas, San Diego, and Florida, less with the fact that their price appreciation, and hence projected decreases, were higher than Seattle, and therefore, Seattle will not drop as much as these cities. Instead, look at affordability comparisons. Seattle is ranked by the Fortune (or Forbes?) article as a top five city in terms of how unaffortable Seattle is, using the Price to Rent ratio. So, the chances of similar drops to the truly bubble cities can also occur in our own very bubble.Sorry for the ramble and hope this makes sense..<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('33048','AndyMiami',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('33048','AndyMiami','Tim,\r\n\r\nGreat job and very smooth delivery. Only suggestion for future interviews, and I am sure they are coming, is that try to use the comparison to Las Vegas, San Diego, and Florida, less with the fact that their price appreciation, and hence projected decreases, were higher than Seattle, and therefore, Seattle will not drop as much as these cities. Instead, look at affordability comparisons. Seattle is ranked by the Fortune (or Forbes?) article as a top five city in terms of how unaffortable Seattle is, using the Price to Rent ratio. So, the chances of similar drops to the truly bubble cities can also occur in our own very bubble.\r\n\r\nSorry for the ramble and hope this makes sense..',''); return false;">Quote</a></div> Tim,

Great job and very smooth delivery. Only suggestion for future interviews, and I am sure they are coming, is that try to use the comparison to Las Vegas, San Diego, and Florida, less with the fact that their price appreciation, and hence projected decreases, were higher than Seattle, and therefore, Seattle will not drop as much as these cities. Instead, look at affordability comparisons. Seattle is ranked by the Fortune (or Forbes?) article as a top five city in terms of how unaffortable Seattle is, using the Price to Rent ratio. So, the chances of similar drops to the truly bubble cities can also occur in our own very bubble.

Sorry for the ramble and hope this makes sense..

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]]> By: patienthttp://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-32992 patient Wed, 12 Dec 2007 20:36:59 +0000 http://seattlebubble.com/blog/2007/12/12/welcome-710-kiro-listeners/#comment-32992 Congrats to another opportunity to spread the word! I listened to it and agree that it was a bit unfortunate that it was so short. It came across as the reason to a likely price fall in Seattle is becuase other markets are falling. A bit of a pity that you didn't get the chance to touch on the root causes as that the loan standards that made the homes possible to purchase at current prices are no longer available, and will more than likely not return since they are toxic to lenders.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('32992','patient',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('32992','patient','Congrats to another opportunity to spread the word!\r\nI listened to it and agree that it was a bit unfortunate that it was so short. It came across as the reason to a likely price fall in Seattle is becuase other markets are falling. A bit of a pity that you didn\'t get the chance to touch on the root causes as that the loan standards that made the homes possible to purchase at current prices are no longer available, and will more than likely not return since they are toxic to lenders.',''); return false;">Quote</a></div> Congrats to another opportunity to spread the word!
I listened to it and agree that it was a bit unfortunate that it was so short. It came across as the reason to a likely price fall in Seattle is becuase other markets are falling. A bit of a pity that you didn’t get the chance to touch on the root causes as that the loan standards that made the homes possible to purchase at current prices are no longer available, and will more than likely not return since they are toxic to lenders.
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