Mid-Week Open Thread (2012-02-22)

Here is your open thread for the mid-week on February 22nd, 2012. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known.

Be sure to also check out the forums, and get your word in the user-driven discussions there!

0.00 avg. rating (0% score) - 0 votes

About 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. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

39 comments:

  1. 1
  2. 2

    RE: David S @ 1

    There’s a Lot of Nice Wall Shelves

    That could disappear after the sale and is any lake house worth over a million dollars on a dinky 0.3 acre lot that’s sloped too?

  3. 3

    RE: David S @ 1 – The painting on the wall is of a group of people in the same room?

    I liked the dog and phono player over the TV.

  4. 4
    Haybaler says:

    RE: David S @ 1
    Do you suppose the full size bus in the parking lot is actually a deluxe Motor Home and it’s part of the purchase package?

  5. 5
    David S says:

    RE: Haybaler @ 4 – WINNER!

    I just don’t find the connection with the full size tour bus and the listing.

  6. 6

    By softwarengineer @ 2:

    <That could disappear after the sale and is any lake house worth over a million dollars on a dinky 0.3 acre lot that's sloped too?

    I’m not going to comment on the price, but most waterfront lots are not acreage, and most have a slope. Without a slope it gets rather wet! ;-)

  7. 7
    Blurtman says:

    RE: David S @ 5 – 1.) Marvel at next door neighbor’s extensive bus collection.

    or

    2.) The fans still come to see this former boyhood home of Macaulay Culkin.

  8. 8
    Blurtman says:

    Neil Barofsky and Eliot Spitzer took on party-line-defending Lanny Breuer of the Department of Justice, and to a lesser degree, Mary Jo White, former US attorney who now works on the defense side.

    Lanny Breuer is a poor reflection on Obama. Positioning and posturing, while sneering at Justice.

    http://www.youtube.com/watch?feature=player_embedded&v=L_Mg6YOxjTg

  9. 9
    Sparky says:

    The bus is a Microsoft Connector, which is a shuttle service that MSFT runs to bus employees to campus. Presumably there’s a stop nearby. I agree that it’s a strange thing to put in the listing photos, where without context it seems like your neighbor owns a bus or something.

    http://www.microsoft.com/presspass/misc/09-06connectorFS.mspx

  10. 10
  11. 11
    Blurtman says:

    RE: Kary L. Krismer @ 10 – Now is a good time to sell!

  12. 12

    RE: Blurtman @ 11

    Short Sale Income Tax Avoidance on Unpaid Principle Disappearring Soon at a Theater Near You

    http://seattletimes.nwsource.com/html/realestate/2017562349_harney26.html

  13. 13
  14. 14

    RE: softwarengineer @ 12 – I’ve been planning on doing a blog piece on that. According to a tax lawyer I know most the people who can take advantage of that can take advantage of some other exception, but most is not all. A person’s situation would need to be determined by a tax attorney or accountant.

    The problem I see is some real estate agent giving people advice they learned in a clock hour course (or worse) like: “You can delay the foreclosure if you request mediation, and get 4 months more time in your house.” Well for some that 4 months may mean the difference between a taxable transaction and a non-taxable transaction. And note, that tax liability would be non-dischargeable in bankruptcy for over three years!

    Oh, and thanks for the link. One of the things I was missing was the likelihood that would be extended. I’d heard nothing on that.

  15. 15
  16. 16

    RE: Kary L. Krismer @ 6

    The Rich Million Dollar Homeowners Can Hand the Keys to the Bank, But We Can’t?

    http://finance.yahoo.com/news/million-dollar-foreclosures-rise-rich-105400917.html

  17. 17

    RE: Kary L. Krismer @ 15

    Blame Yahoo

    The link looks worded correctly, but takes ya to the wrong news story.

  18. 18
    David Losh says:

    RE: Kary L. Krismer @ 15

    You are a waste of time, and I regret playing along for as long as I did.

  19. 19
    David Losh says:

    RE: softwarengineer @ 16

    It’s interesting that in looking at a property that sold between a couple of prominent Seattle families I noticed a “Deed in Lieu of” in the chain of title. It’s like it was all normal.

    What’s more interesting is the process took about 90 days, and the property still sold for value. There had to be some concessions from the bank, because the property was extensively remodeled for hundreds of thousands of dollars.

  20. 20
    Blurtman says:

    RE: softwarengineer @ 12 – I will go out on a limb and state that Obama is pandering for votes via the Mortgage Fraud settlement. He is also pandering for Wall Street dollars, so a two-fer!

    I think it might be less nausea inducing if those receiving a principle reduction also waived their rights to any gains from home price appreciation. It is troubling that home owners want a system where they have a chance at gains only, but not losses even if possibly temporary.

    The USA is not a moral country (e.g., unprosecuted war crimes and financial fraud), and is not a country that believes hard work and taking the associated knocks along the way are a necessary path towards success, with absolutely no guarantees. The populace has gone way too soft, and only wants instant rewards. It is the end and a slow descent.

  21. 21

    RE: David Losh @ 19

    Good Detective Work David

    The bank “total” remodel next door to me [the house laid vacant for two years] finally sold [nice family too]; likely for a loss IMO too….but with SE King County’s foreclosure rate triple the rest of King County, the Times reports a 20% drop in home prices YOY in my area. It appears the loss deal a year ago was apparently too high too. My other next door neighbor bought way too high in 2007 and is stuck with an underwater mortgage; insult to injury the backyard remodel of the owner before him likely weakened the water main valve….it flooded the crawl space. The normal listed 2 bdrm in my HOA selling for $119K never sold, I told him he’d have to lower the price another 20% to sell….he’s retired and apparently doesn’t have the cash to lose to sell [$20-25K]….wicked world out there.

    My home’s paid off, but I’m no haughty owner, my 1999 price I paid is now too high….so SWE would lose selling now too. Thank God I purposely bought low end :-)

    Will it worsen in 2013? I think so, but its still a guessing game, albeit, that gets easier to play as time goes on.

  22. 22

    RE: Blurtman @ 20

    A Lot of Republicans Think

    The reason the Republicans RNC candidates stink is they’re trying to lose….they’re happy the way things are now.

    IMO, they may be correct.

  23. 23
    Blurtman says:

    RE: softwarengineer @ 22 – The good news is that Obama will be re-elected. The bad news is that Obama will be re-elected.

  24. 24
    Ray pepper says:

    Say it isn’t so …. Things must b really rough at Red Fin. I just heard their first radio commercial wrapped around a Steve Tytler ad on 97.3. Please Glenn don’t torture us with your guarantees of professionalism and courtesy. Give the buyers what they really want and need CASH back in their pockets snd stop taking it away!

    If I wasn’t such a big Dori fan I wouldn’t even listen to 97.3 but with all these real estate commercials and loan companies I may have to go back to sports talk.

  25. 25
    The Tim says:

    By Ray pepper @ 24:

    Say it isn’t so …. Things must b really rough at Redfin.

    Just the opposite, but thanks for your concern.

    BTW, since this comment was totally off-topic on the Guess the Price post, I moved it here, where it belongs.

  26. 26

    By David Losh @ 19:

    RE: softwarengineer @ 16

    It’s interesting that in looking at a property that sold between a couple of prominent Seattle families I noticed a “Deed in Lieu of” in the chain of title. It’s like it was all normal.

    What’s more interesting is the process took about 90 days, and the property still sold for value. There had to be some concessions from the bank, because the property was extensively remodeled for hundreds of thousands of dollars.

    If there weren’t concessions from the bank, there probably wouldn’t have been a deed in lieu.

  27. 27

    By Blurtman @ 23:

    RE: softwarengineer @ 22 – The good news is that Obama will be re-elected. The bad news is that Obama will be re-elected.

    Exactly!

    Seriously I’d probably give Romney a spin over a second term with President Obama, based on nothing more but “hope and change,” but I’m still hoping for a new candidate to run in both parties!

  28. 28
    Ray pepper says:

    Red Fin commercials by Glenn hit the airwaves today on 97.3. Good god. Now it’s Red Fin and Steve Tytler back to back. As Dori
    Monson would say. ” it’s today’s sign the end is near.”.

    Having Glenn talk about guarantees on 97.3 of professionalism and courtesy while peddling your next real estate purchase or sale truly is the ” sign the end is near” for Red Fin. Give the consumers what they want and need. THE MONEY! And stop taking it away. Get on with Zillow already and stay afloat. They have new VC and together you will make a run. But, Zillow knows the value of Red Fin is not near the VC dumped in so they will wait until the well runs dry.

  29. 29
    Sweet Pea says:

    By Blurtman @ 20:

    RE: softwarengineer @ 12 I think it might be less nausea inducing if those receiving a principle reduction also waived their rights to any gains from home price appreciation. It is troubling that home owners want a system where they have a chance at gains only, but not losses even if possibly temporary.

    Agreed. Particularly if the tax break on the debt-forgiveness is renewed, although renewal is apparently not guaranteed.

    http://www.propublica.org/article/homeowners-who-negotiate-debt-relief-could-soon-face-massive-tax-bill

  30. 30

    By Ray pepper @ 24:

    Say it isn’t so …. Things must b really rough at Red Fin. I just heard their first radio commercial wrapped around a Steve Tytler ad on 97.3. If I wasn’t such a big Dori fan

    Advertising on Dori? Bad move IMHO. Talk radio is the last place I would advertise anything.

  31. 31

    By softwarengineer @ 16:

    RE: Kary L. Krismer @ 6

    The Rich Million Dollar Homeowners Can Hand the Keys to the Bank, But We Can’t?

    http://finance.yahoo.com/news/million-dollar-foreclosures-rise-rich-105400917.html

    I’m not sure what you’re talking about there. That seems to be an article about foreclosure, not deeds in lieu.

    On the topic though, I have always suspected that the high dollar mortgages get more attention from banks on short sales, but that’s just a feeling. I don’t have any data to back that up, because it would take too much time to gather it.

  32. 32
    Macro Investor says:

    By Blurtman @ 23:

    RE: softwarengineer @ 22 – The good news is that Obama will be re-elected. The bad news is that Obama will be re-elected.

    I’m amazed by how many people hate both parties, but won’t vote for another one. For goodness sakes, pick a third party from the list and support it.

    Obama was supposedly the most liberal senator of all 100, and look how he’s done exactly the same things Bush did. People need to be hit over the head with a 2×4 — the blue and red team are the same. We have a one party system. The corporations just pick one or the other to rubber stamp their wishes.

  33. 33

    RE: Macro Investor @ 32

    And We Get In Trouble With Election Officials Now If We Write In Like “Donald Duck”

    Why is this anymore worse than picking the least of the two ugly sisters?

    I’m with you, if there isn’t a decent 3rd party choice for the mainstream voter out there, I’m leaving it blank.

  34. 34
    Blurtman says:

    RE: Macro Investor @ 32 – I am voting for Wiliiam K. Black for President.

  35. 35
    ray pepper says:

    WOW….I feel like Liam Neeson here after the plane crash in The Grey…..Deserted…..Don’t like it here…I will try and stay on topic…

  36. 36

    By David Losh @ 18:

    RE: Kary L. Krismer @ 15

    You are a waste of time, and I regret playing along for as long as I did.

    Me too, but here’s how you prove a point as to when OWS started:

    http://en.wikipedia.org/wiki/Occupy_Wall_Street

    Occupy Wall Street (OWS) is a protest movement that began September 17, 2011 in Zuccotti Park, located in New York City’s Wall Street financial district.

    The idea that something named after Wall Street started in Spain in 2007 is a bit absurd, don’t you think?

  37. 37
    deejayoh says:

    By Sparky @ 9:

    The bus is a Microsoft Connector, which is a shuttle service that MSFT runs to bus employees to campus. Presumably there’s a stop nearby. I agree that it’s a strange thing to put in the listing photos, where without context it seems like your neighbor owns a bus or something.

    http://www.microsoft.com/presspass/misc/09-06connectorFS.mspx

    Not strange if you want to sell your property to someone from Microsoft.

  38. 38
    David Losh says:

    RE: Kary L. Krismer @ 36

    circular, and without a point.

  39. 39

    RE: David Losh @ 38 – Huh? The argument you were referring to was in the other thread about when OWS started. You wanted me to look at a 10 minute Youtube video which somehow claims that OWS started in Spain in 2007. I just posted a link indicating that absurd claim isn’t true. Unlike watching a 10 minute video, that should just take you a second or two to read, because it’s the first sentence.

Leave a Reply

Use your email address to sign up with Gravatar for a custom avatar.
Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Please read the rules before posting a comment.