> Many properties are taking themselves off the MLS for short periods and then
> relisting themselves as it looks better for marketing to be on the MLS for a
> shorter period of time…. presumably discouraging low ball offers.

> Personally, I think its all for not, but its worth a shot on their end.

In the case I was referring to, re-listing doesn’t seem to have obliterated the previous listing of the same property:

http://www.redfin.com/WA/Sammamish/19174-NE-43rd-Ct-98074/home/265272

The re-listing occurred with the same MLS#, and presumably because of that, the “number of days no Redfin” and “cumulative days” numbers encompass all days of active listing.

AS

My 401k is diversified with some in stable value funds also and did not take a huge hit even though it is down a little. I am doing quite well in comparison to most I have talked to. I also have a ROTH IRA I started at 18 as well.

I find the idea of being forced to give up my property under penalty of imprisonment or death to be immoral. — Another Tim

I’m not sure exactly what you’re talking about., but I think it’s:

a) Having money stolen from you via monetary policy engineered inflation.

b) The threat of imprisonment by the IRS for failure to pay taxes which go to support malfeasance in the financial community.

In both cases, these are examples of corporate owners influencing (via bribery, holding sway over large numbers of jobs, etc) our government. In any case, I don’t think anyone has ever been executed (or even given a life sentence) for tax evasion.

Personally, I think the idea that you can have property taken from you for not paying your taxes is appropriate. If you will not pay for the services which are inherent to the upkeep of your property (roads, fire department, law enforcement, education of future generations of doctors, cops, etc), you should not reap the same rewards as those that do. This concept has been around since the first city-state.

I don’t agree with the bailout. Personally, I think that finance is a basic infrastructural requirement. You cannot trade without a monetary system. Today, you cannot buy or sell effectively without a debit card system, letters of credit for shipping, etc. Many communities cannot build construction projects without a loan of some kind. I believe the private sector has shown time and again that it cannot be trusted to manage this responsibility. It must be either highly regulated (and not by industry cronies, but by actual cops), or the financial infrastructure should become the domain of the state.

Yesler Hill – I think (based onreading his web pages “Rants and Raves”) that Another Tim is basing his argument for more deregulation based on the fact that citizens and small businesses have seen greater regulation and abuses of power.

At the same time, the regulation that does exist for the bad actors in our economy is totally inadequate. This discrepancy is obvious when you look at the Big 3 bailout vs. the Financial Bailout. The Big 3 are far from being like you and me, but they are no match for the campaign contributions that Wall Street regularly showers on DC.

The financial community got $700 billion in two weeks without ever appearing before congress. It was their agents, Paulson and Bernanke that had to do the begging. This was a crisis entirely of their own making. From the origination of MBSs and CDOs to the insurance of these catastrophes, to the rating of them by the complicit ratings agencies who were beholden to the very owners of the products they were rating.

The Big 3, on the other hand had to beg Congress twice for money in order to save their businesses due to an unprecedented drop in sales (30-40% for the Big 3, 30-35% for their foreign competitors) since people were no longer able to secure credit – a problem created by the financial bad actors.

I doubt I’m telling anyone anything new, I’m just trying to defend why I think we need to either regulate the hell out of the financial community, or we need to nationalize it.

If anything were to happen to the company any time in the future you could be out your paycheck, pension, and retirement savings all at the same time. If you put your retirement savings in another companies stock you at least have one of the three. Maybe it isn’t likely, but anything can happen, especially in the 40 or so years before you reach retirement age.

Similarly, it’s hard to believe someone could watch a multi-trillion dollar bubble and collapse caused by the fraud and bribery of large quasi-governmental agencies, outlawing of risk management (aka redlining), and various actors arbitraging on the implied federal guarantees of debt and come to the conclusion that the problem is too little government. And please also explain how workers’ right to organize is helping with the $100billion bailout of selected parts of the auto-industry.

Not to mention a few other factors such as:
Management opting out of/cutting thier yearly bonus down to help our business and employees survive in this economy.
Food sales are doing very well and will continue to do well in a recession.
Plus historically the company has done extremely well weathering economy declines in the past.
I agree with the business model and practices and feel they provide a good foundation for the company to grow and compete in this economy as well as a hopefully better economy someday (I don’t think it will be any time soon).

I am not saying our stock is going to jump or sky rocket but over a long period of time (10-15 years) I think it is a good investment. No I will not come out a millionaire but I will have more than I started with and I get to keep my job which is more than a lot of people can say now and in the coming months.

I’m seeing rents starting to come down on First Hill and Capitol Hill.

I wouldn’t bring this up in the blog comments, except comrade Wojciechowski and comrade Another Tim already opened the door.

We’ve had 30 years of increasing deregulation and privatization, 30 years of declining household incomes and 30 years of suppression of working people’s right to organize….

And where has that led us? Into this depression.

I really have a hard time believing there are still people out there defending neo-liberal classical capitalist economics when those very policies have led us down such a terrible road; and we’ve reached the dead end sign.

Freedom is not abt maximizing your personal ability to be greedy. Freedom is a shared experience, a mutual endeavor, Imho.

I guess it’s different since I work for a company that I can walk up to my CEO and he will give me a straight answer even if I don’t like it or its not what the shareholders want to hear (like no we won’t cut employee pay/benifits for higher profit). Which is why I love my job and the company I work for. Straight answers and no bull business. That’s the way I wish everything operated!

And which company would that be, CostcoMike? You should let us know so we a discerning consumers can reward them with our business. Why be so secretive about such a great company?

</sarcasm>

I guess it’s different since I work for a company that I can walk up to my CEO and he will give me a straight answer even if I don’t like it or its not what the shareholders want to hear (like no we won’t cut employee pay/benifits for higher profit). Which is why I love my job and the company I work for. Straight answers and no bull business. That’s the way I wish everything operated!

Many properties are taking themselves off the MLS for short periods and then relisting themselves as it looks better for marketing to be on the MLS for a shorter period of time…. presumably discouraging low ball offers.

Personally, I think its all for not, but its worth a shot on their end.

Regarding your bid for “economic freedom”, I disagree with the removal of regulation. It was the systematic destruction of regulations for the past 30 years generally, and the blatant unwillingness of the current administration to enforce regulations, specifically, that have produced the economic collapse we are now facing.

True economic freedom is like true freedom. It’s called anarchy. In a truly free society, people can rape, kill, murder, and steal as long as no one else can stop them. Likewise, in a regulation-free economy, businesses can violate contracts, steal ideas, pollute the water supply, make dangerously unsound loans and then pass on the risk to investors, whatever they like.

We need a regulated economy. But that’s not what we have had for a long time.

Instead we have had an economy regulated by agents of large business owners (corporatism or plutocracy), instead of agents of the public (socialism). One system benefits the few; one system benefits the many.

Regulations are not strictly a tool for socialist governments. They are a tool for every form of government, especially those who seek to gain an advantage economically. Our government is not sufficiently safeguarded against the corruption of corporations.

Properties sitting on the market for in excess of a year (which is now becoming very typical) means the Realtors aren’t doing their job of facilitating sales.

We had 869 sales last month. That’s the lowest number of monthly sales ever. December will likely be around the same. Clearly RE agents aren’t doing their job of representing their clients’ interests (unless their clients are interested in featuring their empty homes on the NWMLS for exhibition purposes only).

They always cling to the “I can’t recommend that a buyer drop his price because the market could violently turn around at any moment” (something which has never before occured in history), but they rarely think about “I have to recommend that a buyer either drop his price, or plan on not selling his house”.

Those Realtors that act in their clients true best interests will do well, the rest will get creamed; and good riddance.

Property History
Date Event Price Appreciation Source
Dec 05, 2008 Relisted — — NWMLS #28090235
Nov 22, 2008 Off Redfin — — NWMLS #28090235
Oct 18, 2008 Price Changed $899,000 — NWMLS #28090235
Jul 15, 2008 Price Changed $919,500 — NWMLS #28090235
May 23, 2008 Listed $945,000 — NWMLS #28090235
Jul 24, 2001 Sold $649,000 — Public Records

Why would the property go off the list and come back to the list at the same price two weeks later?

Regards
AS

I want a real, honest answer from an RE agent as to the following (with economic support!!)

“When is it NOT a good time to buy?”

Given that there is always two sides to a coin and they are so sure that now is a good time, then they must also know when it is a bad time right?

In reality, I know the answer. But I just love seeing RE agents try and wiggle out of something with false data and assumptions.

And as someone who plans on buying a house when the market seems more balanced, I’m not going to an agency that I don’t trust as a matter of common sense. And it seems a bit disingenuous to deny Tim an interview because of perceiving a mocking manner. I think you called it unprofessional. A professional in my opinion would overlook this perceived mocking manner and further their cause and grant the interview. It may just turn my opinion about how much I can trust what you say.

Just one person’s thoughts.

What do you mean by “communist ideas”? That seems pretty knee-jerk to me. I imagine that most, if not all of us, find the idea of a communist or socialist government to be repugnant. But at the same time, I think we are coming to the realization that pure capitalism (or even the slightly watered down form we have had for the past few decades) has its own inherent flaws.

What I believe our country needs, and I think this is what Obama will strive for, is a largely capitalistic economic policy, but with healthy doses of government oversight of businesses. Clearly business and legitimate innovation cannot be stifled, but nor can business be allowed to run wild. If we have learned anything in the past few years, it is that a total (or close to it) hands-off approach is an important ingredient in a recipe for disaster.

The US has all the know how – so compared to China and pretty much the rest of the world – it will stay competive unless Obama installs communist ideas here. But I doubt that.

The bubble brains already hit on the 4.5% plan and foreclosure bailouts schemes, along with other recent MSM RE bailout pipedreams, currently out there and apparently stagnant as cement.

Deejayoh already mentioned the $8 Triilion to date total federal bailout costs this year, not even getting our ARMs around the other $27 Trillion to keep the Titanic afloat. Just picking and choosing which banking friend of Paulson gets to stash more of the bailout has made it worse.

Where do you suggest we bailout the hopeless economy? Homelessness, schools, infrastructure, green technology, Detroit, Japan, Strarbucks, Animal Cookies, etc, etc, etc…..?

A conundrum isn’t it. A basic question I have is why are foreclosed homes are so darn important to bailout, especially compared to investing in a longterm real industrial base job creation?

Robert, ask your kids [if you have any and they're old enough] who should get all the bailout money, I’m sure they’d go with industrial base jobs, so they can have a future; with what’s left of this severely limited debt. After all, its their debt.

I see realitters periodically and ask them what’s happening in the market ( I know, but their answers tell me whether they’ll ever be on my short list). Have yet to come across one that hasn’t told me that …
It’s a good investment
It’s already turning around
This area (insert your town here) is better than most
Etc, etc.

Hey realitters! Doesn’t it seem kinda dark where you have your heads?

The Associated Press analyzed economic data from the 2,000 or so cities and towns across the nation with populations of 20,000 or more, comparing the 2005-2007 data to figures from the 2000 census.

It’s not surprising that many communities were doing better in 2000 than they were mid-decade, said Scott Hoyt, senior director of consumer economics at Moody’s Economy.com.

DJ,
By units coming online is by their prediction what is currently in permits. Permits last 5 years, furthermore can be extended by 2 year increments. Quite a few large multi unit buildings I know of have been put on hold for better days.

Sorry, Mukoh. You’ll need to take that up with Matthew Gardner – the REIC shill, not me. I ‘m posting a direct quote.

But you think something he has coming on line in 2009 isn’t already a hole in ground with money being poured into it?

If you have evidence that contradicts what he says – post it here.

All Buyers will know when the home is listed on the MLS a cash register sound will go off in their heads. Buyers will know that 3% is their money!! They will not waste it anymore going forward in 2010 and beyond.

As for the term “real estate professionals.” I have not read anyone on this blog “EVER” that I would consider a real estate professional. You see its very easy to spend other peoples money! Real Estate Professionals “in my book” are investors who spend their own money. I will say it again..Its very easy to spend other people’s money and give advice on what someone should buy.

I also love this “professional”…Nobody more fun to watch then Howard Davidowitz talking about the disintegration of retail.

http://www.cnbc.com/id/15840232?video=950787517&play=1

A few highlights:

Pg. 5 “Homeowners in the Northwest have been able to successfully sell their homes for a profit or refinance to pay off their subprime loans.”

Pg. 7 “it remains a guaranteed return-on-investment.”

Pg 1. “Lawrence Yun projects that nationally, the “median existing-home price will
drop about 1.7 percent this year.””

Anyone have a link?

Good response to Lennox Scott’s PR Director’s email. The reporters aren’t holding any of these so called real estate experts responsible for their overly optimistic predictions for a rebound of home prices. The real reason they won’t grant you an interview is because you’ll ask them for quantifiable evidence to support their polyanna statements that they can’t provide!

So much for objective journalism these days!

That being said – Any salesperson of any commodity must be able to explain to a customer that brings a broken item back why it is broken or why they would sell something that did not perform to the standards portrayed by the salesperson. I suggest anyone who bought their home from any John L Scott agent go back and ask for an explanation.

Personally I don’t care if your selling a house or you are fixing a car. If you truly believe your idea’s are right you will stand up for them in any context. Even an interview with an opposing side of the argument. I believe now from the communication between The Tim and Mr. Scott’s PR rep. that even Mr. Scott does not believe his ideals about our current real estate market. Anyone who is willing to interview with the bubble obviously truly believes in what they say and is worth listening to even if I don’t agree with them. Just my $.02.

The day lennox tells the story like it really is, is the day that hell freezes over. To quote Sinclair – “It is difficult to get a man to understand something, when his salary depends upon his not understanding it.”

The debt limit is when the whole house of cards collapses.