Of course, the post was written by a real estate professional, while the comment was just some dirty anonymous nobody, so obviously the comment has no value.
Of course, the post was written by a real estate professional, while the comment was just some dirty anonymous nobody, so obviously the comment has no value.
Worse than that. Since obviously the guy is talking about foreclosure from personal experience he's probably a renter now. There's nothing more useless and filthy than an anonymous renter.
What it looks like to me is that we are in the early stages of a housing shortage.
...
So now we seem to have more condominiums than we have people who want to live in them. And we seem to be developing a shortage of single-family homes compared to the number of people who want that neighborhood and suburban lifestyle. We still have a strong economy and a growing population, and if the people who want single family homes have to start competing for them, prices will start to rise again.
Tim, you could add a pin to the Stalled Development Map at 156th Ave SE and SE 11th St in Bellevue. 3 houses under construction for at least 1.5 years. Noticed some workers out there recently, after months of no activity. Guess they're in no hurry due to rising prices.
I was thinking about those same 3 houses, but I hadn't been by there in a while and so I wasn't sure if they had been completed yet or not. (Kind of a strange choice of thread to post in.)
I wish I could be a cheerleader for more real estate coverage, but I really think that as a topic of discussion, it quickly denigrates into just a few arguments: where prices are headed, the value of real estate professionals, and the value of amateur's opinions.
Translation: More people talking about real estate just means more people questioning the value of my services and my expert professional opinion. It's better if people just don't discuss it.
My reply:
Mack, I can think of exactly one person I have ever seen who constantly turns real estate discussions into an argument about "the value of amateur's opinions." That would be the same person who also misused the word "denigrate" in comment #349103 above.
I saw that. then I headed over to SREP and realized that aside from you (The Tim), the only commenters at SREP any more are the bloggers themselves. I have another idea for the PI to save money...
And I leave comments very rarely. Pretty much only drop in when they get a basic point of fact incorrect (e.g. - Debra Sinick's claim that Vashon Island is not in King County). I did comment for fun on Kary's latest post, but only because participates here so much and has been friendly and informative.
Other than that I have granted them their wish, that the non-professionals not interfere in their private booster club.
Wasn't quite sure where to post this since it doesn't really deserve it's own thread but everyone's favorite crazy real estate professional (well, at least in the top 10) sold her house last month. http://www5.kingcounty.gov/kcgisreports ... 1245003770
I wasn't watching close enough to see it put back on the market (maybe it wasn't), but the recorded sale price is far below what I remember her listing it at, and 300k below the previous sale.
Her initial asking price last February was $999,950.
One of the biggest mistakes sellers make is setting the price AFTER they get it ready for market. To some extent, that is why many sellers overprice their homes.
Reading through the comments on that blog post are interesting.
They are... I do hope she does a follow-up, because it really was an interesting story back then, and now with the new comments from Ardell on that post it seems that this was a deal that took a year to put together. I certainly don't agree with many of the steps taken here, but it sure took guts to put it out on the internet like that.
I'm not familiar with the rules; does a short-sale absolve the previous owner of making up the owed-vs-sale-price difference?
A short sale may not absolve the debt owed. It is strictly on a case by case basis. In reality, how are lenders going to enforce paying what is owed by people that are bankrupt by most accounting standards, unemployed, or have little assets.
There are thousands and thousands of people who entered into a short sale or walked away and for many it is apparently a socially accepted thing; right or wrong, it may be difficult to curb in the future unless there are strict guidelines in place to stop it from happening again.
Comments
Of course, the post was written by a real estate professional, while the comment was just some dirty anonymous nobody, so obviously the comment has no value.
*He who shall not be named
The person is a little off on the foreclosure thing, but from a personal perspective it is a great read.
My reply:
Other than that I have granted them their wish, that the non-professionals not interfere in their private booster club.
http://www5.kingcounty.gov/kcgisreports ... 1245003770
I wasn't watching close enough to see it put back on the market (maybe it wasn't), but the recorded sale price is far below what I remember her listing it at, and 300k below the previous sale.
I wonder if there will be a conclusion post on Raincity to wrap up the details.
Hard to believe it's been two years.
http://raincityguide.com/2007/09/17/the ... ime-story/
Her initial asking price last February was $999,950.
:roll:
Edit:
Never mind. That's what I get for reading the thread from the beginning. My head is spinning. It's been a fun year, no?
They are... I do hope she does a follow-up, because it really was an interesting story back then, and now with the new comments from Ardell on that post it seems that this was a deal that took a year to put together. I certainly don't agree with many of the steps taken here, but it sure took guts to put it out on the internet like that.
I'm not familiar with the rules; does a short-sale absolve the previous owner of making up the owed-vs-sale-price difference?
There are thousands and thousands of people who entered into a short sale or walked away and for many it is apparently a socially accepted thing; right or wrong, it may be difficult to curb in the future unless there are strict guidelines in place to stop it from happening again.