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Seattle Bubble Forum Archive • View topic - Ding Ding Ding... we have a winner

Ding Ding Ding... we have a winner

Anything and everything relating to Seattle-area real estate.

Moderators: synthetik, The Tim, Lake Hills Renter

Re: How low will it go?

Postby The Tim » Thu Mar 27, 2008 11:42 am

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Re: How low will it go?

Postby Lake Hills Renter » Thu Mar 27, 2008 12:37 pm

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Re: How low will it go?

Postby rose-colored-coolaid » Thu Mar 27, 2008 1:57 pm

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Re: Ding Ding Ding... we have a winner

Postby mike2 » Thu Mar 27, 2008 5:19 pm

Image

That looks like a manic depressive going off the meds...
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Re: Ding Ding Ding... we have a winner

Postby The Tim » Fri Mar 28, 2008 10:10 am

What amuses me is how many of you apparently bookmarked Meshugy's house in Zillow (like I did). We haven't linked to it anywhere in this thread, and yet it seems that most of us are looking at it anyway, as evidenced by posts like Mike2 with the screenshot above. I guess that's what the guy gets for coming on here so frequently to brag whenever his Zestimate would bump up by a few thousand.

:)
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Re: Ding Ding Ding... we have a winner

Postby perfectfire » Fri Mar 28, 2008 10:50 am

You should put his Zestimate in the SB sidebar under the inventory numbers.
Remember, if you rent it's not a home, it's a hovel.
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Re: Ding Ding Ding... we have a winner

Postby faster » Fri Mar 28, 2008 5:20 pm

Kary Krismer does not read Seattle Bubble, but he does reply to posts here.
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Re: How low will it go?

Postby WestSideBilly » Mon Mar 31, 2008 4:24 pm

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Re: Ding Ding Ding... we have a winner

Postby Ubersalad » Mon Mar 31, 2008 4:45 pm

At that kind of margin and loss of rent in between tenants...what's the point?
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Re: Ding Ding Ding... we have a winner

Postby rose-colored-coolaid » Mon Mar 31, 2008 8:42 pm

Strictly speaking, his comparison wasn't saying buy and rent it out, but comparing if you yourself bought or rented the same unit. Thanks for the analysis, it looks pretty good to me.

So in other words, when 'experts' say it's good to buy if you will be there at least 5 years, what they mean is if the market doesn't decline you might almost come out even in 5 years.
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Re: Ding Ding Ding... we have a winner

Postby WestSideBilly » Tue Apr 01, 2008 8:18 am

In the example I used (which worked good because there were identical units available to buy and rent at the same time), I was strictly comparing the financial aspects for a home buyer/renter. As an investor looking for a rental, there is no point - it's a horrible use of capital.

RCC, using pre-2001 norms, you would generally come out ahead after 5-7 years. And have the benefit of being free to use the property as you chose, which has a different value to different people (much more for smokers or pet owners, much less for people who like off-white walls and carpet). Buying today, I think that number might be more like 10-15 years.
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Re: How low will it go?

Postby The Tim » Mon Jan 26, 2009 8:35 am

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Re: Ding Ding Ding... we have a winner

Postby perfectfire » Mon Jan 26, 2009 11:24 am

BTW, if anybody else is like me and doesn't have the shugster's house bookmarked, you can find the location (as stated by meshugy himself) in the .
Remember, if you rent it's not a home, it's a hovel.
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Re: Ding Ding Ding... we have a winner

Postby deejayoh » Mon Jan 26, 2009 11:31 am

this thread kind of defines "schadenfruede"
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Re: Ding Ding Ding... we have a winner

Postby The Tim » Mon Jan 26, 2009 11:42 am

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