By The Tim on January 1, 2012
What's your 2012 Housing Resolution?
- Buy a home. (23%, 36 Votes)
- Sell your home. (6%, 9 Votes)
- Avoid foreclosure. (6%, 9 Votes)
- Renting & saving a down payment. (25%, 39 Votes)
- Enjoying existing home ownership. (40%, 64 Votes)
Total Voters: 157
This poll was active 01.01.2012 through 01.07.2012.
Rate this post:
00
Posted in Polls | Tagged Polls
Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.
What happened to enjoying renting and not saving for a downpayment? This is a heavily slanted series of options, Tim. It seems you’ve switched tracks since gaining a family and a housing sales-related job. Is this really a blog that should be called Seattle Bubble anymore?
Rate this comment:
0 
0
There’s nowhere to vote.
Rate this comment:
0 
0
1 vote for non-existant #6 – Strategic default and enjoy renting again in 2012!
Rate this comment:
0 
0
RE: Joem @ 1 – I think even before the peak there was the idea that most here would buy if the prices dropped far enough, and in the interim they would save for a down payment to make their monthly payment even less at that point.
What interest would people who have no desire to ever buy a house have in this site?
Rate this comment:
0 
0
I am still enjoying my home that we purchased in 2005. I loved it as soon as I enterred the front door. It’s on 1/40th the land as the previous domain, and almost twice as costly. I dig the Northwest. Access to the outdoors, i.e. mountains, and exercize, i.e. running trails, is much better. But where you live and how you enjoy it is very much tied to where you are in the stage of your life. Years ago, when I left school and moved to San Diego, I lived in a studio apartment that was 1/2 the size of my current bonus room, although it was right off the beach. I thought it was pretty neat, but difficult to store the windsurfer behind the couch.
Rate this comment:
0 
0
RE: Joem @ 1 – That is an option. The options are the same as they have been each time I’ve run this poll.
There was a problem with poll scheduling though that prevented the voting choices from showing up. That should be fixed now.
Rate this comment:
0 
0
To be fair, it’s New Year’s Day and we ought to cut The Tim some slack. He threw together a quick poll. But if he had been a little less hung over and a little more energetic, he might have thrown in a few more choices like:
> I’m resolved to stop paying my mortgage and will try to keep living in the house for as long as humanly possible, or
> I’ve resolved that I really don’t want to own a house, and I’m going to spend all that downpayment money on cocaine, prostitutes, and fast cars.
Rate this comment:
0 
0
RE: Ira Sacharoff @ 7 –
my favorite comment of the new year so far!!
Might be a tough one to beat!
Rate this comment:
0 
0
1. continue watching the housing market.
2. only buy, if a good opportunity presents itself.
been watching RE for years, prices are a lot better but not where i want them to be.
as long as prices are dropping, i’m waiting.
when prices flatten or turn up, that’s when it gets tougher to make a decision, since you don’t know if it’s a false bottom or a true bottom. the best thing to do (i think) is wait even longer to confirm which it is. this way, while you -will- miss the bottom you won’t catch a falling knife like so many in previous years.
last year, for 2011 i predicted a smallish 5% year-over-year drop in CS Index nationally.
this year it looks like it’ll be less but i still expect prices to be lower in 2012 year-over-year for the national (20 city) CS index.
Rate this comment:
0 
0
RE: Ira Sacharoff @ 7 –
Tim might not have been the only one who’d celebrated when posting. Overall he’s done much fine work here. However, if there are choices that were supposed to appear in the poll and didn’t, they still aren’t as of this hour.
Nervy of Kary, or a lack of imagination, to wonder why someone who doesn’t want to buy a house would follow this site. Housing is news, especially a collapse, and renters had to listen to a lot of boasting back in the day.
That Ira would jokingly suggest that the alternatives to renting and saving for a downpayment are using drugs and hiring violent love workers is exactly what I’m talking about — an underlying prejudice by real estate workers and homeowners that renters are lowlifes or fools.
Rate this comment:
0 
0
By Joem @ 10:
No offense intended, and absolutely no prejudice on my part against renters. I don’t believe that renters are lowlifes or fools, and I have friends and relatives who are lifelong renters.I completely understand not having any interest in never buying a house. I might be a real estate agent, but I personally don’t care whether you ever buy a house or not. I don’t believe that renters are any worse or better than home owners, and I don’t think that buying a house is necessarily a good thing to do. I was simply making a joke, and if you’ve read my comments here in the past, you’ll notice that I’ve pretty much made fun of everybody, especially real estate agents. Lighten up, and Happy New year.
Rate this comment:
0 
0
I’m probably going to buy a house.
Rate this comment:
0 
0
By Joem @ 10:
First, it was not want to buy a house–ever. Second, I still can’t see how that would keep someone’s interest for four plus years.
And like Ira I don’t think renters are necessarily “lowlifes or fools.” In fact, I’ve commented that I think even the current percentage of home ownership is high. Not everyone should own a house or want to own a house.
Rate this comment:
0 
0
RE: Kary L. Krismer @ 4 – By Scotsman @ 12:
Another take, I will continue to rent in Seattle, wait for prices to fall. Will take savings and invest in housing outside of Seattle where bottom has already set in! I follow this site to remind me that other cities are better place to utilize capital.
Rate this comment:
0 
0
I’d also like to see a button for those thinking about strategic default. As prices decline in Seattle area, more homeowners will choose this, following the trend of other cities.
Rate this comment:
0 
0
I plan on renting a home next door to Kary.
Rate this comment:
0 
0
RE: Pegasus @ 16 – Play the stereo loud, and leave the car on blocks on the front lawn.
Rate this comment:
0 
0
Watching the LED sign at Newberry Real Estate waiting for a 5 figure, 2 bedroom, quarter acre Kent East Hill ranch to come on the market!
Rate this comment:
0 
0
By Blurtman @ 17:
Also, on the side of your house which Kary can see from his window, be sure to spray paint something like ” Lawyers suck.”
Rate this comment:
0 
0
I would like to point we have new data on the Seattle median price, and it’s great news for folks waiting for better prices. Maybe banks are really discounting the shadow inventory to blow it out the door, or higher end houses aren’t selling as well. Either way, it’s a good 10% lower than it was a year ago. And this is with the lowest rates in history and a somewhat functional economy.
Happy new year, and be careful out there. The bubble has a long, long way to go:
http://charts.altosresearch.com/altos/app?s=median:l,&ra=a,&q=a&st=WA&c=SEATTLE&z=a&sz=i&ts=e&rt=sf&service=chart&pai=52615209&co=0&endDate=&startDate=
Rate this comment:
0 
0
Tim, I like that the avatar pictures are gone. There were some pretty gnarly ones, and seeing your dog every few inches was getting pretty old ;)
Rate this comment:
0 
0
RE: Macro Investor @ 20 – Um, I haven’t gotten rid of the avatars… I still see all of them, including your swan. Although I suppose I could pick a new default, like a pink pony or something.
Rate this comment:
0 
0
RE: The Tim @ 21 – Please, no pink ponies. You could update the pic of your dog though.
Rate this comment:
0 
0
RE: Pegasus @ 16 –
Sublet a couple of rooms to Ardell.
Rate this comment:
0 
0
I’m doubling down on my mortgage with an extra payment every month. It feels good to see the balance drop.
Rate this comment:
0 
0
RE: Ira Sacharoff @ 11 – RE: Joem @ 10 –
As one who occasionally reaches climax by fantasizing about being a violent love worker on drugs, I resent the implication that I’m a virtual low life. I’m just personally satisfied being a wantabe small business person who uses responsibly in my own short term rental. It’s not like I have asocial fantasies about being a member of NAR or anything like that. And I’m OK with the fact that there is no box to check for my sub-category of virtual short term home/business rental. Its kind of a niche category although there have been some famous historical figures in this category, like J. Edgar Hoover.
Rate this comment:
0 
0
By Blurtman @ 17:
I live in a neighborhood with a fairly strong HOA, because I went through a neighbor from hell before at our old place. You can’t even have a wood pile visible from the street.
Rate this comment:
0 
0
By Ira Sacharoff @ 19:
What makes you think I didn’t already write that on the side of my own house?
Rate this comment:
0 
0
RE: Kary L. Krismer @ 27 – In your case would that be considered a solicitation for business and not necessarily a legal one?
Rate this comment:
0 
0
RE: One Eyed Man @ 25 – RE: Pegasus @ 28 – Are you implying I’m OEM’s pimp?
Rate this comment:
0 
0
RE: Kary L. Krismer @ 29 – I thought it was a group thing.
Rate this comment:
0 
0
RE: Pegasus @ 30 – Like this?
http://www.youtube.com/watch?v=B7QtRCGQmrc
Rate this comment:
0 
0
RE: Kary L. Krismer @ 31 – That’s disgusting. Only a lawyer would find that funny or a reality.
Rate this comment:
0 
0
RE: Blurtman @ 17 – Blurt. Here are some pictures of my current rental:
http://www.redfin.com/WA/RENTON/5007-NE-1ST-CT-98059/home/246658
I think picture number 4 shows what a good neighbor I can be…….
Rate this comment:
0 
0
RE: Pegasus @ 33 – That’s what a number of bank owned properties look like before they clean them up. Two years ago that was what a majority of bank owned properties looked like, because they didn’t clean them up.
Rate this comment:
0 
0
By Joem @ 10:
Posts like this one are why I follow the site.
Rate this comment:
0 
0
RE: Kary L. Krismer @ 34 – Solid proof that not everyone should own a house, maybe a pigsty, but not a house.
Rate this comment:
0 
0
RE: Pegasus @ 36 – But according to the listing, it is a short sale, not REO.
Would be interesting to know if the property is occupied, and if (after 139DOM) it is still trashed as per the pictures.
I wonder if the MLS needs to institute a rule that says a toilet must be flushed before a picture is taken. I’m sure the listing agent is really trying to get this property sold…
Rate this comment:
0 
0
The toilet looks broken so I doubt it could flush normally at the Renton house.
As far as resolutions go I resolve to loose weight in 2012 like houses loose value.
Rate this comment:
0 
0
RE: ChrisM @ 37 –
Vacant. Mold issues present.
Rate this comment:
0 
0
RE: Macro Investor @ 20 –
Do you test on firefox v8?
Rate this comment:
0 
0
At least a prospective buyer won’t be showing up thinking it is a palace. The unflushed toilet is probably the cleanest spot in the entire house. Maybe the agent was just trying to be promotional? Maybe they are just trying to get the second lien holder to cave since it is a short sale?
Rate this comment:
0 
0
RE: Pegasus @ 33 –
Good god, what can the reasoning be to list with photos like that? What a disgusting mess. Mold and all. Not to mention whoever was living in it like that is probably leaving some scary juju behind…
Rate this comment:
0 
0
I’ll continue to enjoy my new house, even if it is a split level. =P
Rate this comment:
0 
0
A little off topic, but I was running my year end stats this morning by Neighborhoods, and there is only ONE house for sale West of Market Kirkland. I thought the mls was broken. Double checked on Redfin and Estately.com
I don’t think I’ve ever seen only ONE house for sale in a Kirkland neighborhood. That was the first neighborhood I was doing stats on…so I have no comparison point. But WOW! I almost fell off my chair.
Rate this comment:
0 
0
By Pegasus @ 37:
I would agree. That’s why I’ve been critical of the government’s push to increase home ownership.
Rate this comment:
0 
0
By ChrisM @ 38:
REOs only came up because of my comment that the condition was like what a bunch of REOs used to look like.
Rate this comment:
0 
0
RE: Lake Hills Renter @ 44 – More power to ya. Obviously must be in the minority around here in my feelings on split entry homes, considering how many of them pepper the Seattle-area landscape.
Rate this comment:
0 
0
RE: The Tim @ 48 –
Lots of people buy and own them vs “like” them. My post on Split Entry Homes is one of my most viewed posts. That’s on my blog where the readership is smaller than RCG, and it has about 15,000 views. A split entry home is a good example of accepting a style that you are not 100% crazy about, just get in to the best areas with the best schools without sacrificing square footage.
I’ve seen a few remodels of split entry homes that are awesome, even converting to a two story home. But the cost is usually prohibitive, unless it is a view lot or an otherwise ideal location. There’s a good example of that in Kirkland, but the house was a little too close to the freeway to warrant that kind of investment.
The best example I have seen of a full two story with basement conversion, was up on Goat Hill. Looked like a mediterranean villa when they finished, with awesome views of Lake Washington, etc.
One of the advantages of a split entry is you usually don’t outgrow it. The potential for 4 or even 5 bedrooms is a given for most.
Rate this comment:
0 
0
RE: ARDELL @ 49 –
Nice plug for yourself. That’s the way you do it kids!
Rate this comment:
0 
0
RE: ARDELL @ 49 –
I love split level houses, great access, great room, storage.
I didnt know they were so out of favor…
Rate this comment:
0 
0
RE: The Tim @ 48 –
Splits were a trend like town houses are a trend. It’s all usable above ground space, in theory, you still have to pick one that doesn’t have water issues, or settling of the slab.
There is one that I particularly like in North Seattle that is set up to be a Mother in Law. It has South West exposure, and the Mother in Law faces the South with the one bedroom, it could be two, but they made one big bedroom, on the North Side of the house. The garages are on the East, so the deck of the upper floor faces West.
You can also do away with the split entry by having the stairs going up outside the house. The stair well is constructed to have the doorway up, or down.
This particular house has enough side yard to make a nice entry for the up stairs, and reverse the stair well.
Just think of it as a box. you can do anything you want with. That was the idea. The city rubber stamped them, but I have seen some really nice work on some. Some you wouldn’t recognize.
Rate this comment:
0 
0
RE: Mike @ 51 -
The Tim doesn’t like them at all. I sold one a few months back in 22 days with no problem. They do sell at a discount and are usually bought by people who can’t afford a newer two story home…which is a lot of people.
The price differential in best schools Redmond is about $200,000. I like them a lot for my clients for $200,000 less than a newer 2 story home.
Rate this comment:
0 
0
RE: ARDELL @ 53 –
I wasn’t going to mention the discount, but you are correct. The one I like has had a $50K price reduction, and if I were to offer, it would be for $50K less than that.
A person that I have been working with, she, and her husband bought a split, and completely redid everything. They have offices in the basement, that has a kitchen, and full bath. They opened the upper floor by taking out the walls around the kitchen.
As she said, for the price, they could afford to do a lot with the house.
Rate this comment:
0 
0
RE: Scotsman @ 50 –
I don’t understand how that’s a plug. Can someone explain that to me? I was once told by an attorney that I was a “natural closer”, so it’s possible I just don’t see it. I’ve reread the comment a couple of times, and I don’t get it. To me it was a response to Tim’s query about the popularity…or lack thereof, of split entry homes.
Rate this comment:
0 
0
I think Tim needs to run some gender specific polls here with real estate agents excluded. I think he would demonstrate a completely different dynamic exists between the partners in the same household about buying a house, asset safety, risk, expectations, housing prices, housing needs, etc. Time and time gain we hear that my spouse wanted to buy, not buy, buy bigger, buy smaller, rent, put more down, leverage more, etc.Let’s get the truth.
Rate this comment:
0 
0
RE: ARDELL @ 55 –
” I was once told by an attorney that I was a “natural closer”
Well, there you go again. Yup, you’re a sell’n machine. Remember to point out that if your name is blue there’s a link behind it.
This really has turned into just another realtor’s site, but with better data.
Rate this comment:
0 
0
RE: Scotsman @ 57 –
“Remember to point out that if your name is blue there’s a link behind it.”
Does that make you my shill? :) My Uncle actually had a job as a shill on the Boardwalk in Atlantic City when I was a kid.
Rate this comment:
0 
0
RE: ARDELL @ 58 –
“My Uncle actually had a job as a shill ”
Did he wear a yellow sports coat with a “21″ on it?
Rate this comment:
0 
0
Some people can be quite irrational. #9 is a good example. To think that “oh the bottom has arrived, I think I’ll go and buy now” is rather simplistic.. I started seriously looking in September 2010 at foreclosures. Most were not even worth a tour. Switched attention to short sales. Waited 8 months for the eventual “yes” from the bank. A total of 14 months to get a good deal.( in my opinion) All this while paying $19.8k a year in rent. I find it is best to try to buy when there is little or no competition from other buyers. Frenzy can develop very quickly.
Rate this comment:
0 
0
RE: Scotsman @ 59 –
No…he wore plaid pants and a yellow polyester short sleeved shirt with white patent leather loafers.
Rate this comment:
0 
0
RE: Scotsman @ 12 –
Wow…. I’m calling a bottom this year. Scotsman’s looks to be pulling the trigger. ;)
Rate this comment:
0 
0
By Tim McB @ 62:
But Scotsman’s not calling a bottom. Sometimes situations just lend themselves to certain actions. If I recall correctly, Scotsman’s rental home is in the foreclosure process, or he expects it to be shortly. He likes living there and believes that his housing expenses won’t rise if he buys the house he lives in, and that it’s something he can easily afford. Hopefully I don’t have my facts screwed up. I just don’t think Scotsman would buy a house within the next year because he thinks it’s a great financial opportunity, or that he’s suddenly become enamored with granite counter tops, stainless appliances, and engineered wood, unless his soul was been taken over by John L Scott while he was sleeping.
Rate this comment:
0 
0
RE: Ira Sacharoff @ 63 – Assuming those are the facts, hopefully he’ll be able to buy the house if that’s what he wants to do. I’ve heard conflicting things about the willingness of banks to sell to existing tenants. And once you get to the point they are willing, price might become an issue.
I negotiated one of those last year, and it was a bear. Things like that though are what make this business interesting.
Rate this comment:
0 
0
By Scotsman @ 57:
Yikes….Ardell’s getting all the coffee!
Rate this comment:
0 
0
RE: Ira Sacharoff @ 63 –
Just for the record, Ira, I was kidding around. That said I would see a Scotsman purchase a general positive leaning indicator much like the Tim’s purchase though without the local media coverage. (http://blog.seattlepi.com/realestatenews/2011/05/28/seattles-most-famous-bubble-blogger-buys-a-home/)
To Scotsman, If you do pull it off with the bank I’d be interested in hearing your story behind the deal, as much as you’d be willing to share anyway. It could be a good guest blog post.
Rate this comment:
0 
0
By Ira Sacharoff @ 19:
And spray paint a chart of neighborhood same sales median price on the garage door with an arrow pointing to the month in 2007 when Kary bought his house. Below this, write, “Homeowners are Losers!”
Rate this comment:
0 
0
RE: Kary L. Krismer @ 64 – RE: Ira Sacharoff @ 63 –
Ira- yes.
Kary- they do not like to sell to tenants. But as an attorney you would know that could be put forth as a form of housing discrimination. Lawyers can be wonderful things. Suddenly it turns out tenants can be buyers . . . ;-)
At some point I’ll update.
Rate this comment:
0 
0