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CNN: iReport - Real Estate Prices dropping weekly - Seattle

lannypoffolannypoffo
edited June 2008 in Seattle Real Estate
This is an iReporter in Seattle on the CNN frontpage.

http://www.ireport.com/docs/DOC-34257

Thoughts?

Is this person entitled to a mortgage on a 2nd place?

Are they a casualty of the Market bubble?

Are they a good credit risk that is being punished by adverse market conditions?

Lanny

Comments

  • rose-colored-coolaidrose-colored-coolaid
    lannypoffo wrote:
    Thoughts?

    Is this person entitled to a mortgage on a 2nd place?

    According to some quotes on that page, she's actually looking for a third mortgage. This is pathetic, whiny, and entitlement at its worst. I don't really think the media or anyone else should be pandering to these people.

    It's not like there is a shortage of condos in Seattle for over $500k. She could easily sell the house and move to someplace that works for her.

    Besides, it could get worst for her. She could start losing equity every day rather than every week.
  • UbersaladUbersalad
    How did you extract the subject line of this thread out of that crap?
  • johnsgonefishinjohnsgonefishin
    That cannot be a true story, The person sounds way too dumb to really exist. Honestly she has a good job with good pay and she has no savings? Also if she owns that house why not dump it for the price of the condo and break even on the deal? Probably she is greedy on her first home and wants the full million earlier appraisal and will try to wait it out. It appears that her greed trumps her health. As its medically needed it would be a good move for her to dump the house cheap like a reverse auction. Another cheaper option would be to install an elevator, or one of those chairs that goes up stairs. Both would be relatively cheap in comparrison to selling and buying a new place. I dont believe this story is truthful, appears to be a sales ploy to gain sympathy from someone to over pay on her house.
  • lannypoffolannypoffo
    Ubersalad wrote:
    How did you extract the subject line of this thread out of that crap?

    The title of the Thread was the actual title that appeared on the CNN Homepage - "Real Estate Prices dropping weekly"

    Lanny
  • sorinsorin
    I'm hoping that report is a joke, but the person sounds just stupid enough and greedy enough for it to be true.
  • Big Mike 34Big Mike 34
    I am confused:

    Why does this person need two houses?....

    Why not sell one and buy the other.

    If she is finincially secure as she says a $60,000 down payment doesn't sound unreasonable...

    If she is as secure as she says then she can use retirement money if she really wants this SECOND house...

    I must be missing something????
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