Weekend Open Thread (2012-09-07)

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Here is your open thread for the weekend beginning Friday September 7th, 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!

NOTICE: If you have comments to make about politics or economics that do not somehow directly relate to Seattle-area real estate, they may be posted in the current Politics & Economics Open Thread. If you post such comments here, they will be moved there.

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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.


  1. 1

    By Natalia Orinko @ 16:

    RE: David S @ 5

    “What others see are buyers who either donâ��t care or are completely oblivious to any defects and will pay FMV or higher.”

    Members of the Russian community will never offer to pay the selling price. And they will never bid a house up. Be patient if you are a buyer. Fools rush in.

    This is the second time you’ve mentioned this, and the second time I’ve responded.

    You don’t base what you offer on the list price. You should base your offer on what the property is worth and what you think the owner will accept. Sometimes the list price is low, and you should be happy to pay $10,000-$20,000 more if that is still below market price and the property suits your needs.

    I’ll agree that over-pricing is much more common than under-pricing, but under-pricing does happen, and when it does you don’t want to have an inflexible position that says you’re going to offer something under list.

  2. 2
    apartment boy says:

    Did you realize an investment with Madoff, 4 years ago, was a much better investment than AIG, C. BAC, GS or MS? (CNBC’s Faber)
    They are saying that Madoff investors will now receive 79¢ on the dollar; last I heard was 50¢.
    If Rakoff has his clawbackish way…it will be 90¢.

    I remember watching shows where the Madoff investors shared their devastating stories. I remember one married couple claimed to have lost everything. She later said she had been having an affair with Bernie and claimed his Johnson was the size of her little finger. Ouch.
    You can’t make this stuff up! Anyway, I wonder how THAT marriage is going? And I wonder what Losh has to say about all this? :)

  3. 3

    RE: apartment boy @ 2 – That’s an incredible payoff for a bankruptcy that size. The professional fees are probably at least 8 figures.

    But I guess if you run a really really good Ponzi scheme you can’t spend all the money. It would look too suspicious.

  4. 4
    David S says:

    RE: Kary L. Krismer @ 1 – Thanks for your reply Kary. Yes, of course I’m always keeping market value in mind.

  5. 5

    RE: David S @ 4 – My comment was directed to Natalia, unless maybe you’re Russian too! ;-)

  6. 6
    Natalia Orinko says:

    RE: Kary L. Krismer @ 1RE: apartment boy @ 2

    Ok. I understand now. I will let my family know. And I finally convinced my brother to stop looking in Maple Valley! I don’t know what he was thinking.

  7. 7
    David S says:

    RE: Kary L. Krismer @ 5 – You fused two comments in your reply but you have the Maple Valley part correct. :-)

  8. 8
    sofwarenginer says:

    Spoiling a Gem Deal

    Yes, there are Gem Deals in any housing market, spotting them can be spoiled in a plethora of ways IMO….like rigid location, school rquirement, local venue opportunities and/or other personal prejudice interfering with a perfectly good price.

    Its like shopping for a car; stop being brand and color prejudice and focus on the features and price. Or pay the piper for pig-headedness.

    I’d also add, if your spouse is causing the prejudices preventing low-ball dealing; buy your house before ya get married…LOL

  9. 9
    David S says:

    RE: sofwarenginer @ 8 – For all your astute comments you can’t possibly be this out of touch.

    I guess you could say the GEMS are available if you just don’t have any needs or requirements other than price. But that won’t work for anyone other than an investor. Retail pricing or bust!

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