Posted by: Timothy Ellis (The Tim)

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.

25 responses to “Weekly Open Thread (2013-10-14)”

  1. whatsmyname

    That’s a very good point. But could we discuss what would be the effect on housing inventory and prices if people were allowed to take their houses off the market during the government shutdown, and self-insure their way around Obamacare with a new Bank of America Healthcare HELOC?

    Also, if you could convert the unused lower living area of your split entry home to a government funded day surgery, what would be the proper capitalization rate when looking to sell?

    Rate this comment: Thumb up 1

  2. Blurtman

    RE: The Tim @ 1 – Tim,

    Could you start new PE and HC threads? Perhaps if you refreshed them, they might have more traffic?

    Rate this comment: Thumb up 2

  3. Blurtman


    “You’re not gonna gonna to be able to change what Wall Street did with those securitizations of all these things. So we’re dealing with the situation on the ground how we’re trying to sell your house. And if you start requiring the original note that has been gone through I don’t know how many hands — but the collection is being done by a servicing company that we know — if you require that original note, none of you will ever be able to sell your property. You just won’t.”-Stu Halsan

    Eh wot?

    Rate this comment: Thumb up 1

  4. ChrisM

    Too funny – developers are holding on to the mineral rights in new developments!

    “D.R. Horton, the biggest U.S. homebuilder, is a heavy user of the practice. The Fort Worth, Texas, company has separated the mineral rights from tens of thousands of homes in states where shale plays are either well under way or possible, including North Carolina, Alabama, Mississippi, Virginia, New Mexico, Nevada, Arizona, Oklahoma, Utah, Idaho, Texas, Colorado, Washington and California.

    In most states, sellers aren’t legally required to disclose to home buyers whether they are severing the mineral rights to a property. Builders sometimes flag the move in sales contracts or deeds and other documents they are required to file with local authorities. But buyers don’t necessarily review their paperwork very closely, especially if, as real-estate agents say happens often, they don’t hire a lawyer to help them with the transaction.”

    Rate this comment: Thumb up 1

  5. redmondjp

    RE: ChrisM @ 5 – So what’s the problem? With the horizontal boring technology in use now, they could be fracking 3000 ft. below your house right now!

    I demand my mineral rights!! Should I start a Facebook page?

    Rate this comment: Thumb up 2

  6. ChrisM

    RE: redmondjp @ 6 – One wonders what a buyer’s agent’s responsibility is.

    Rate this comment: Thumb up 1

  7. softwarengineer

    RE: redmondjp @ 6

    If That’s True

    Just thank God you don’t have a well below your property for drinking water.

    Rate this comment: Thumb up 0

  8. Macro Investor

    By softwarengineer @ 8:

    RE: redmondjp @ 6

    If That’s True

    Just thank God you don’t have a well below your property for drinking water.

    Or that your city water doesn’t come from a well or aquifer anywhere within 100 miles of drilling/mining.

    Rate this comment: Thumb up 1

  9. redmondjp

    RE: Macro Investor @ 9 – I’m with you on the potential fracking effects, but agricultural runoff (nitrates) and defective/failing septic systems are a much more probable hazard to our generally shallow aquifers here in Western WA.

    Rate this comment: Thumb up 1

  10. softwarengineer

    RE: redmondjp @ 10

    Its All Toxic to Digest

    They say 20 years after we sprinkle that “weed killer chemical fertilizer” on our lawn; it eventually ends up in the ground water too. I wonder how much of these various toxins goes right through the water filters we use too.

    Rate this comment: Thumb up 1

  11. siddharta
    Microsoft sells Issaquah Highlands property
    Microsoft sold a 63-acre tract in Issaquah to a local developer who plans a mixed-use project.

    Will this have any impact to surrounding Issaquah and Sammamish real estate? It’s a negative to lose an employer like Microsoft (however this news is not surprising as everyone knew this was going to happen and maybe priced in).

    Rate this comment: Thumb up 0

  12. ARDELL

    Breaking News: JP Morgan to pay $13 Billion in exchange for no criminal charges…

    More of a Jillayne piece as to commentary, but thought this was a good place to put it for now.

    Rate this comment: Thumb up 2

  13. redmondjp

    If you’re looking at a house built in the 1970s, pay close attention to where the downspout drains go. I was shocked to recently find out that a nearby neighbor’s home (built in 1975, by a different builder than for my house which was finished in 1977) also has all of the downspout drains running directly to the crawl space.

    I don’t know what the builders/contractors were smoking back then, but it was apparently some pretty good stuff for that to seem like a good idea!

    Rate this comment: Thumb up 0

  14. Blurtman

    RE: ARDELL @ 13 – I believe the US Department of Commerce now has to go back and re-calculate GDP during those years of massive financial fraud, removing the bogus contribution of fraudulent FIRE revenue from GDP. This will result in negative GDP for the past 10 years.

    Rate this comment: Thumb up 0

  15. Ira Sacharoff

    I read obituaries. In today’s Seattle Times, there is an obituary for long time Seattle Bubble commenter David Losh, who died of colon cancer last Thursday at age 60..
    I met David in person at a couple of Seattle Bubble meetups, and was glad to meet him in person. Some people are completely different online and in person, and David was one of them. Online, he didn’t always make sense. But in person he was coherent, friendly, and funny. I always enjoyed reading his stuff here. I didn’t always agree with what he wrote, but I think he added greatly to the entertainment value of Seattle Bubble, and I’ll miss him.

    Rate this comment: Thumb up 6

  16. ARDELL

    RE: Ira Sacharoff @ 16

    Oh my GOD!!! So sad! Thanks for letting us know, Ira.

    Rate this comment: Thumb up 3

  17. ARDELL

    I put a quick post up with the funeral info, but I’m too shook up right now to say much more. Will post my thoughts in the comments later when I’m ready.

    I am very, very, very sad. That’s all I can say for now.

    Rate this comment: Thumb up 2

  18. Jillayne Schlicke

    I did not know that David was battling cancer.
    May he RIP

    Rate this comment: Thumb up 0

  19. Jillayne Schlicke

    RE the JPMorgan settlement…..nobody will convince me that everyone at the top knew exactly what they were doing when they dumped those toxic MBS. I would like to see criminal charges filed but that brings up images of hell and things freezing over.

    Rate this comment: Thumb up 2

  20. ricklind

    RE: Ira Sacharoff @ 16

    Thanks, Ira.

    RIP, David.

    Rate this comment: Thumb up 2

  21. Ray pepper

    Terrible. Simply terrible. I never come to this thread thing and feel David deserves a full article on him. Nobody reads this

    Rate this comment: Thumb up 3

  22. Blurtman

    RE: Ira Sacharoff @ 16 – Sad news. David frequently expressed a unique viewpoint on this blog, which I enjoyed reading. He seemed like a very decent fellow.

    R.I.P. Dave.

    American Cancer Society recommendations for colorectal cancer early detection

    Rate this comment: Thumb up 3

  23. redmondjp

    RE: Blurtman @ 23 – Good link – I’ve got a history of this disease in my family, but I also know people who have gotten the disease at an early age (one in their 20s, fatal, and one in their 40s, stage 4, but so far so good 5 years later cancer-free).

    What’s also interesting is David’s dad passed away just over a year ago, and he lived to be 95:

    Rate this comment: Thumb up 1

  24. Dirty Renter in Banjo Country

    RE: Jillayne Schlicke @ 20 -
    You mean the MBS & CDOs sold by WaMu & Bear Stearns?

    Rate this comment: Thumb up 0

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