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It starts at the bottom and works it's way up.
Posted:
Mon Feb 23, 2009 9:57 pmby EconE
Sold 12/1997 for $74,000
Sold 11/2006 for $276,500
Current asking price $99,750
http://www.redfin.com/WA/Seattle/6213-C ... ome/476637Learn to follow the foreclosure patterns.
It is VERY specific from what I'm seeing in L.A.
The banks make their way around to the better neighborhoods in time...but they start with the worst streets
Re: It starts at the bottom and works it's way up.
Posted:
Mon Feb 23, 2009 10:08 pmby Hector
Wow, look at that properties history. Good point, bottoms up folks!
And yeah, they couldn't have started in a worse neighborhood. Even in my decent neighborhood of new homes, of which I am renting one, I am watching them sit foreclosed or vacant at 100k less than they sold for 18 months ago. Yet the one I want the bank isn't budging on...
Re: It starts at the bottom and works it's way up.
Posted:
Mon Feb 23, 2009 10:23 pmby TheMightyQuinn
Is that a dryer on the porch?
Re: It starts at the bottom and works it's way up.
Posted:
Tue Feb 24, 2009 12:48 pmby wreckingbull
Uh Oh, cue angry Angie rant in 3....2....1.....
I'm running for the back door while there is still time.
Re: It starts at the bottom and works it's way up.
Posted:
Tue Feb 24, 2009 7:58 pmby rose-colored-coolaid
Re: It starts at the bottom and works it's way up.
Posted:
Tue Feb 24, 2009 8:19 pmby biliruben
Man, you guys are picky. Near Georgetown Brewery and convenient to Boeing Field. Think about how much you can save drinking $8 fresh jugs of Manny's all day and night. Drink enough, you won't hear the whine of the engines.
Glad to so low rents in the low-rent district.
Re: It starts at the bottom and works it's way up.
Posted:
Wed Feb 25, 2009 7:21 amby Angie
You rang?
OK, you guys got me. I've got to concede that you get much better value in the pastoral north end, for instance:
20% less than that Georgetown place, but no dryer in sight.
Re: It starts at the bottom and works it's way up.
Posted:
Wed Feb 25, 2009 9:39 amby PublicEnemy#1
Angie,
Just don't take it out on us when you find out your current house is worth $50K by 2011.
Enjoy it while you can!
Re: It starts at the bottom and works it's way up.
Posted:
Wed Feb 25, 2009 8:40 pmby Angie
I won't...'cause that's how much I'll still owe on my mortgage in 2011!
Re: It starts at the bottom and works it's way up.
Posted:
Thu Feb 26, 2009 4:13 amby PublicEnemy#1
So,
If that happens, then you truly will just have been the bank's renter since the time of purchase and any down payment will have just been confiscated.
I think your rate of return would have been better in CD's.
Re: It starts at the bottom and works it's way up.
Posted:
Thu Feb 26, 2009 6:35 amby Angie
Ah, grasshopper, you still do not understand. A few short years later ...the mortgage will be paid off.
Your landlord will expect you to continue to pay rent, regardless of whether he or she still owes on the building where you reside.
Re: It starts at the bottom and works it's way up.
Posted:
Thu Feb 26, 2009 8:42 amby PublicEnemy#1
When have I ever said I was renting?
Just because I didn't buy in an overheated market like Seattle doesn't mean I am not a homeowner.
As it happens I am a homeowner, but I bought in an area that wasn't an overheated market and hasn't been hit by mass layoffs and isn't likely to, given the industries that are predominant here.
Keep thinking positive and happy thoughts Angie! It's the only thing that will keep you from drinking heavily over the next decade as your house value never recovers to 2007 levels in adjusted dollars.
The great thing is, I will never be forced to watch my home value self destruct because I bought in the wrong area of the city.
I somehow doubt you will be able to do that, ever!
Re: It starts at the bottom and works it's way up.
Posted:
Thu Feb 26, 2009 9:00 amby ira s
Public Enemy...Now you got me curious. Where is the house you own?...
And do you believe that there are areas of the city or region or nation that are relatively unaffected by the rise and fall of real estate values?
I'm not asking because I have an opinion. I'm merely curious.
Re: It starts at the bottom and works it's way up.
Posted:
Thu Feb 26, 2009 8:01 pmby rose-colored-coolaid
Just thought I'd chime in that most people are renters. Even you Angie...at least until you do pay off your home. Probably 75% of the population are renters overall.
Re: It starts at the bottom and works it's way up.
Posted:
Thu Feb 26, 2009 8:29 pmby Hector
If you can't say something nice...