Alan
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A simple trade can create wealth if it increases the overall utility/value. http://en.wikipedia.org/wiki/Utility Optimal resource allocation is just as important for wealth creation as resource transformation. Here is a fun question: What h…
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Yes. Inventory usually goes down this time of year. We could still be seeing YOY increases of 40% though.
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I think we are between anxiety and denial.
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In the case of the house mentioned in the article, the Hawaii-bound owner claims he will rent the house out before lowing the price further. Of course, he isn't going to say in the article that he would lower the price. I think most sellers will …
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By "same situation" I meant people who cannot sell their house in a few months even after large price drops .
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I held a place in Raleigh, TX for 4 years and made 10% before sales costs. I held a place in Austin, TX for 5 years and made 1% before sales costs. Real estate does not always go up, but you have to pay to live somewhere. I'm currently hedging…
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I think the real answer is: "No one knows when, if, or how much Bellevue and downtown Kirkland will drop in price."
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If they haven't refi'd the crap out of it (which it doesn't sound like they have from the article) I think they can cover the mortgage. They can probably rent it and wait as long as they want. They might cover the mortgage with rent, but how …
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That is quite the article by Elizabeth Rhodes. It is almost as if she started reading this blog.
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I have no idea where inventory will be at the end of October. Historically, inventory dips in the winter. Based on Tim's graphs, the dip usually starts around September/October. The dynamics are different this year and that makes it very difficult t…
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Windermere agent David Gala chalked up September's depreciation to offers coming in below asking price and sellers reducing prices on their listings. That sort of seems like an empty statement. Sort of like the weatherman chalking up the rain…
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Trying to time the market is "a fool's game," remarked one MLS director. "If you are buying a home to live in for more than three years, then buy the one you love, not the one that you can save $25,000 on," advises Matt Deasy, general manager at Win…
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they may have opportunities to negotiate with sellers I'm already in negotiation. Silence can be a very effective form of communication.
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http://seattletimes.nwsource.com/html/realestate/2003927842_webhomesales06.html?syndication=rss Last month the supply of houses was up 40.2 percent year-over-year — lower than July's high of 45.8 percent, but still nearly double inventory increa…
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$5k-20k down payment that you lose if you walk away.
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I bid $110k. Someone else would probably pay more though. I'm not crazy about the idea of living in a 1/1 with 722 sqft of room. Also, I may have to adjust that based on HOA dues and upcoming assessments. My price assumes no upcoming assessments …
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I didn't live here six years ago. I did buy in Austin, TX 6 years ago and I thought it was going to go through the roof. I was wrong about that though.
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I've hired local children to wear disguises and crash the open houses of the other improved pumpkin flippers so that they waste all of their marketing candy on non-potential buyers. I call this operation "trick or treat". I've explained the whole th…
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Memo to myself: Do budget before making largest purchase of my life.
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I think I'll buy some pumpkins today, spend some sweat equity over the next month adding improvements in the form of ornametal carvings, and then sell them for a profit. My marketing tactic will be to place the carved pumpkins in front of my house. …
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You will become richer over the course of your life through renting as opposed to buying, no doubt about it. I don't think that is always true in every location. I think it is definately true in the Puget Sound today. It has probably not alwa…
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Ownership also has other non-financial benefits as well. I don't know if you have a family or not but it may be nice to know that you'll never have to be forced to move over the next 5 years (unless of course you take on a loan you can't afford). …
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Inventory up 40% YOY. Sales down 30% YOY. I pulled the sales number out of thin air.
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Better yet. Put down earnest money and get a guarantee on number of ounces of gold to get with the sale. If gold drops then back out of the offer and lose your earnest money. If gold rises then you sort of got a discount on the house.
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I wonder if they would be willing to include some gold bullion as an incentive instead of lowering the price.
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While we're writing letters to Santa, I personally would love to see 18-25% increase in share prices of the stocks and bonds I'm holding, too. Don't worry. Bernake Claus will be happy to keep lowering rates ensuring that stocks continue to cl…
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Security can also bring happiness. Knowing you have enough savings and investments that you will never starve to death while living on the street can bring a lot of happiness. Certainly owning your home free and clear can provide that sense of secur…
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Wow. The Friday jump was big today. We are sitting at 11530. Can we get 70 more houses on the market this weekend to match my prediction? I don't think its likely, but then I didn't expect the jump of 90 today either.
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Inventory has already gone flat for the month due to houses closing. I don't think it is going to change much until a few days into October.
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The flip side to this is that your 100% financed loan also lost 7% of its debt load. Its a wash if your were smart/stupid enough to get into that situation.