kpom
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My IPhone informs me that it is currently a 1 hour and 24 minute drive from MS to Gig Harbor with traffic (52 miles, BTW). Of course, it's still early in the evening commute...
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Come now, I'm sure you can drive from Gig Harbor to Microsoft in 15 minutes... (does anyone at MS commute from Gig Harbor, I wonder). I also like the bit about no floods or earthquakes...
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Depends what constitutes a legitimate relist - the price did drop appreciably (i.e. not $1K).
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""Bubbles"" are for bathtubs!"
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Yep - my rent on a SFH went up by a big, big twenty-five bucks a month this year (the first rent increase in several years). To keep my rent from going up, I'm going to buy a house, so it can drop 30% in value over the next couple of years - at l…
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If we making corrections to Mike A.'s analysis, you do need to add as a benefit the imputed rent on the house - A. did get to live there, after all. As a WAG, if the market rent was $2,500 (probably high), that would be a benefit of $75K over 2.5…
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"Selling for over a million would take a lot more work" That 50 bucks sure makes a big difference, doesn't it - although from what little know I know about RE marketing, she's probably right. In a comment on her "the-flip-side-of-the-sub-prime…
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It's amazing, isn't it? I have a stable, good-paying job, and I wouldn't borrow half that amount of money. I don't know if a downpayment was involved, but to borrow $850K conservatively (i.e. with the expectation of having to pay the loan back r…
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I wish A. well in her house sale, but her experience does illustrate the credit conditions that created this runup. "No one was more surprised than I, when I got the mortgage and closed on my home. In the end, the lender wanted me to write my pro…
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Well, the continued price appreciation of the Eastside Fortress is ready to be put to an empirical test - Ardell is putting her Kirkland house on the market for $999,950. She bought it in September of 2005 for $850,000. http://www.raincityguide.…
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BTW, here is an article from the San Francisco Chronicle called "Foreclosures leave renters in the lurch" talking about the problems renters have when their house is foreclosed upon. http://www.sfgate.com/cgi-bin/article.c ... NUOE27.DTL You w…
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but...the owner is selling out of hardship and will still want some type of income while the place is listed as well as keep some furniture in it. I'd move to the other place - given the owner's circumstances and the number of other units for…
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Also, pricing in January is not the same as pricing in June. We've got the whole market in front of us from this point forward. I think underestimating [the offered sales price] is going to be more dangerous than overestimating this year. …
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perfectfire wrote: garth wrote: Bears are only right once for a short period over a long period, and don't make any money, who are people suposed to look to? Anyone bearish right now has always been and will always be bearish. This is …
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rose-colored-coolaid wrote: Unless the ball is really really high, in which case it's unpredictable...the ball could continue to rise, or it could start to fall. It's true - if the ball is really, really high, and going really, really fas…
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biliruben wrote: I noticed Ardell is pondering selling her Kirkland Home. Maybe we are getting to her. Her two year subprime ARM is resetting - she probably needs to either refinance or sell.
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I thought that quote was very interesting. About twenty years ago, when multiple-level marketing was very popular, I thumbed through a book written by someone involved in one of the MLM schemes. One of the big themes within the MLM organization …
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The post and commentary you are referring to is: http://www.raincityguide.com/2007/09/17 ... ime-story/ Not a happy situation - Ardell does have a huge vested interest in keeping RE prices up in Kirkland. It does help explain her rather odd t…
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Meanwhile, disturbing news from California for Seattle's Real Estate Professionals: "Unhappy home buyer, feeling misled on price, sues agent" http://seattlepi.nwsource.com/business/ ... source=rss
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Yet more humor from Ardell: I just can't condone it [pricing 5% below comps]. I saw agents doing that in L.A., pricing 5% lower than the last sale as the norm. They dragged the market down due to their greed to make a commission. Where else coul…
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Over at "Seattle Condo Review", a RE agent actually uses the "P" word: Some folks look at the news regarding Expo62 and the downsized Smith Tower project as reason for panic. (Expo62 is now going to be a rental, not sold as condos; and Smith …
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Amusement, pure amusement - watching a bunch of salesmen (er, "professionals") run around frantically trying to deny the obvious, trying to deny that they ever said "buy now or be priced out forever", etc. It's like having a ringside seat at the Am…
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"But since I don't have a copy of the shugster's mortgage, I cannot make that calculation. Besides, to get that mortgage, you also have to pay 5% or more a year in interest. Add that in, and an 11% gain is actually a 4% loss with all the profits goi…
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"11% over 3+ years? Why that's fantastical. It's nearly 3.75%. I mean, official inflation is running something north of 3%, so that's real appreciation of maybe even 1% in 3 years. Wahoo!" You forget the Magic Of Leverage - since Shug probably pu…
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"The slower the market, the more deals each of us professionals do; the faster the market, the more deals we lose to amateurs. Ardell made the same claim a number of months ago - that she would do better in a declining market, after the amate…
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"You will see more and more venom from RE (ahem) "professionals" as their pink ponies ride off into the sunset." If that was an attempt at humor, it was a very poor one. Unprovoked personal attacks are always funny to author, I guess. …
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"Actually she prefers QVC to Tiffany's. There are plenty of other millionaires out there, including a big chunk of my friends' parents who had normal jobs and businesses. These people grew up in the shadow of the depression and were taught to be fru…
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It is one thing to purchase a pied-à-terre when you think you'll make a ton of money off appreciation, and quite another thing when you think that the value of the pied-à-terre will stay flat or decline.
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" I only have 6 mos of savings in the bank to protect me" You are a **lot** better off than the average American.
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Mack has a new posting on the PI blog, about townhouse prices tanking in Seattle, called "Middle-Class Problem". Money quote: If you see the world in Marxist terms, then perhaps, the petit bourgeoisie is getting what they deserve. Yep, y…