- Thinking about doing a weekly live-streamed call-in Seattle real estate podcast. Thoughts? Software suggestions? #
- Wow, that's a lot of empty, anchored cargo ships: http://is.gd/3gKMA #
- Good thing about the "recession is over" nonsense: it makes it much less likely the misguided $8k homebuyer tax credit will be extended. #
- Interesting story about a Tacoma non-profit housing agency that went down while the director made six figures: http://is.gd/3iWb5 #
- via Mish: Boeing, Airline Industry Face Huge Problems http://is.gd/3ji9Z #
- Continuing coverage of the Mastro bankruptcy via Puget Sound Business Journal: http://is.gd/3jD60 #
- Mastro bankruptcy: $600 million in debt, $250 million in assets http://is.gd/3jD60 #
- Heh, tongue-in-cheek headline from the Puget Sound Business Journal: Added bonus with your $5M condo: Gunfire! http://is.gd/3jVjH #
- Tacoma literally falling apart – historic Luzon building to be razed: http://is.gd/3lfqD #
- While the National Ass. of Realtors pushes 4 expanding the homebuyer tax credit, rank & file Realtors question its worth http://is.gd/3lfKP #
- True WA state unemployment rate more like 13.5% – http://is.gd/3lA4p #
- Seattle P-I says that expiration of the $8k tax credit won't "scare buyers away." http://is.gd/3q3QA #
- Dean Baker on the $8k credit: "It's really bad policy. You're throwing…money.. in the garbage." Yet, he took the $8k http://is.gd/3q46b #
- Golf Tournament paid for by the Master Builders = "stakeholder relations" for Snohomish Co. planner http://is.gd/3qaIh #
- Historic Luzon Building in Tacoma may not be razed after all. http://is.gd/3qgfY #
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Plastic Bags » Sep 19, 2009 at 8:57 am
Is the $8000 really getting people off the fence??! I hear them saying it is, but I really don’t want to believe that it is. We ended up buying this year because we found an excellent deal from an estate sale. There are some good deals out there. But, for the most part, there is a lot of over priced junk. The tax credit was not even a thought when we offered. Call me crazy, but after watching cash for clunkers, I’m not even confident that there will be an $8000 to claim when I file my taxes. Maybe I’m being cynical. If I do end up getting the credit, fine, I’ve paid in more than $8000 over the years and I’ll probably put it to better use than they would.
“Yes, there are all of a sudden a lot of buyers — like single women, for instance — who may not have been in the market before who are definitely in the market for this tax credit,” Wood said. “But they’re realizing if they don’t find the right house in the right place, they are not going to buy a house just because of it.”
Author kind of shoots himself in the foot with this one. So the president of Windermere admits that people aren’t buying houses because of the tax credit. And they are 50% of the market share up here so they should probably know. I understand this quote to mean if the house is a good deal they will buy and the credit is a nice bonus. Not really compelling evidence for a need to extend it.
Judd » Sep 19, 2009 at 10:12 am
Maybe the “National Ass. of Realtors” has its National Head up it’s National Ass.
buystocks » Sep 19, 2009 at 10:50 am
Your giving merely anecdotal evidence here. In your situation, 8K is not an issue, but whenever “free” money is offered as bait, people will bite. Real estate pundits are in a situation where they are saying the 8K extension is needed (to give argument to extend), while also covering themselves in case it is not extended (market still strong without it now blah, blah, blah; hence the seemingly stupid quote).
Kary L. Krismer » Sep 19, 2009 at 11:02 am
The thing about the 8k is it’s not just 8k out of a $300k purchase, it’s 8k out of a $12k down payment. It replenishes savings levels, and fairly quickly since you can amend the prior year return.
softwarengineer » Sep 19, 2009 at 12:12 pm
Tim is Our Orwellian Newspeak Detective Expert
Great list Tim, it shows exactly what the book “1984″ was about, lots of media newspeak in Seattle today that twists real bad things into innocuous pink ponies….LOL
BTW, if I was Benanke, I’d be saying the depression is over too; its similar to pressure treatments the meat processing plants use to calm the cattle before they line up and head into “blood stenched” butcher factories, otherwise, we’d never get the cows in the door…LOL
Ira Sacharoff » Sep 19, 2009 at 2:52 pm
“its similar to pressure treatments the meat processing plants use to calm the cattle before they line up and head into “blood stenched” butcher factories, otherwise, we’d never get the cows in the door”.
So, um…are we headed towards slaughter?… And how many of us have come down with “Mad Human Syndrome.”
ray pepper » Sep 19, 2009 at 4:30 pm
This can never be off topic!!
GO HUSKIES!!!!!!!!! WHAT A WIN!…….My Steve Sarkisian autograph has just tripled in value!
Jbeans » Sep 19, 2009 at 6:21 pm
Right on, Ray! Husky stadium was ROCKIN’ — my head still hurts from the noise but it was worth it. WOOF!
Sid » Sep 19, 2009 at 7:40 pm
Go Huskies!!!
ray pepper » Sep 19, 2009 at 9:39 pm
RE: Jbeans @ 7 –
I decided not to go to the game. I usually attend 3 or 4 a year but after last year I couldn’t take anymore. Now I go and miss this????????? I’m so mad at myself………..
Kary L. Krismer » Sep 20, 2009 at 8:29 am
RE: ray pepper @ 9 – That’s what happens when you try to make predictions! :-D ;-)