Please vote in this poll using the sidebar.
Marijuana Grow Operations & The Housing Bubble: Connection?
Inspired by this thread.
- Totally, man. (14%, 17 Votes)
- Like, I think so. (17%, 21 Votes)
- Nah, dude. (42%, 52 Votes)
- That just like, blew my mind. (27%, 33 Votes)
Total Voters: 123
This poll will be active and displayed on the sidebar through 12.22.2007.
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15 responses so far ↓
1
anna
// Dec 16, 2007 at 12:21 pm
Shoulda 6th option:
the operation proves houses not expensive enough - there’s no housing bubble.
Cheers,
2
Ira Sacharoff
// Dec 16, 2007 at 1:17 pm
The house next door to mine was busted about two years ago, and the police seized 600 plants. Nobody was actually living in the house( and i thought i just had quiet neighbors, but had I known what was going on, perhaps I would have become a friendlier neighbor?)…but what happened was that mortgage payments could not be made since the homeowner’s source of income was gone and he was in jail. The house got foreclosed on, and was sold at foreclosure auction about 9 months ago for 319,000 dollars…Five bedrooms, 2 1/2 bths, 2800 square feet…But the new owner has been doing a whole lot of work to it, and has made it really nice. It’s a nice house on 1/2 an acre, but considering the current market, I’m not sure the new owner made such a great investment.
3
betamax
// Dec 16, 2007 at 1:35 pm
OT: Where’s Shug and his denials these days? LOL.
4
johnnybigspenda
// Dec 16, 2007 at 2:07 pm
this topic seems a little weak. i guess now that there is no debate over whether or not there actually is a bubble, the bubbleheads are out of ideas?
How about some data on local neighborhoods? (QA vs. Mill Creek vs. Renton vs. Kirkland vs. Belltown
How about some ideas on “I have to move across the country, so I’m forced to sell… what can I do to maximize the resale value of my place during these tough times?”
How about a demo on foreclosures? Go through the numbers on a situation where the numbers actually makes sense to walk away from your house.
Lets see a rent vs. buy calculation with the ‘new’ estimations of devaluation? (including opportunity cost of investments, risk premium, taxes, soft issues ect)
Draw some similarities to the crashes of 1929, 1987 and the one pending in 2007. What are some strategies (beyond put your $ under your matress) to minimize downside risk and then sieze any buying opps? Seems to be a general consensus out there (not just this blog) that people think our economy is on the verge of ruin).
Timing? Predictions? Housing? Economic Recovery?
Global RE bubble? anecdata? examples of places that are further ahead on the downturn curve than we are? what are people doing there? Any light at the end of the tunnel yet?
We need to get past the “IF” and move on to the “NOW WHAT?” discussion… just my opinion.
5
rose-colored-coolaid
// Dec 16, 2007 at 3:05 pm
johnnybigspenda, you’re correct. And we will move past “IF” to “NOW WHAT?” once there is a now what to look forward to. Today’s “NOW WHAT?” is sit tight and watch all the upheaval. When it becomes closer to the right time to act then maybe you’ll get some advice.
FYI, that time is a long ways off. If we trail California by 18 months, and California is only getting worst by the week, then you can be almost certain we will see significant declines in Seattle until 2010.
6
David McManus
// Dec 16, 2007 at 6:24 pm
I think it’s ONE of the reasons we have a popping bubble right now, albeit very low on the list of reasons. Probably like #25 out of 25.
7
The Bruce
// Dec 16, 2007 at 8:16 pm
Where do you live, Ira? Haven’t see much for $350 that size anywhere near town.. ;)
8
Ira Sacharoff
// Dec 16, 2007 at 8:28 pm
The Bruce,
I live in unincorporated King County just west of the Renton city limits, heading towards Skyway. The 319 paid for the house next door was in foreclosure, and not in very good shape. New neighbor thinks he can sell the place for 450, which he could easily if the house were in Seattle, but I’ll bet he’s put 100K into it. Skyway prices are lower, even near Skyway.
9
Jonny
// Dec 16, 2007 at 9:45 pm
The connection between marijuana grow operations and the housing bubble? I dunno. Greenspan is prone to wake-and-bake?
10
AndySeattle
// Dec 16, 2007 at 9:51 pm
For those who question the topic and its validity/impact to the market… Please don’t think that us ‘bubble heads’ have lost our minds.
I think The Tim just succumbed to the pressure to post this poll. No harm in using our collective imagination to consider all sides the bubble.
11
The Tim
// Dec 16, 2007 at 9:59 pm
Yes, this poll is meant to be purely entertainment, and was inspired by this comment thread.
Stay tuned next week for a more serious poll topic.
12
Ray Pepper
// Dec 17, 2007 at 8:13 am
This is 1 topic I must take a PASS on.
Ray Pepper
Broker
http://www.500Realty.net
13
softwarengineer
// Dec 17, 2007 at 10:20 am
THE BANK WAS SMART DUMPING THAT POT HOUSE CHEAP IRA
Any house that needs remodeling of any significance to get Tim’s “Your Out Of Your” (YOY) Mind top dollar price is best put on the market less “1/2 the licensed contractor remodelling costs” as a “fixer upper”.
Ask any appraiser, you’re lucky to get 50% back on any remodelling upgrades by these licensed construction tycoons. In 1994, a licenced contractor wanted $100k just to remodel the galley kitchen, I imagine its twice that now.
I hired an unlicensed carpenter [who hired a plumber friend] and did the kitchen, bathroom and a laundry room [lots more than that too] for $26K. Used my own sweat labor too and I bought the material to the work site. Made $40K on appraised value too. A caveat, I’d never do that again, my back went out 6 months later and its Hades if you work full time too, but its a way to get a return.
14
johnnybigspenda
// Dec 17, 2007 at 10:36 am
Foreclosure can leave renters homeless
By Tamara E. Holmes • Bankrate.com
Think you’re exempt from the financial fallout of the downtrodden real estate market because you’re a renter? Think again…
(read story here):
http://www.bankrate.com/brm/news/real-estate/20071109_foreclosure_eviction_renters_a1.asp
15
Mama
// Dec 17, 2007 at 11:08 am
“Foreclosure can leave renters homeless”.
LOL, I was wondering why many of the Craigslist rental ads now contain wording like “landlord owns home free and clear”.
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