Post #392,385
7/25/14 3:19:17 PM
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Imaginary money
I purchased the Crumbling Manse™ back in 1999 for under $200K. According to a website that claims to track property values (and the details of which reflect neither the state of the premises in 1999 nor the considerable improvements we have made since then), its resale value had climbed to US $584K at the end of 2005, and sank to $325K by this time three years ago. As "greedy tech/hipsters" flood into the area (another bubble, another god-damned bubble), the Crumbling Manse™ even apart from its unrecorded improvements is said today to be worth $712K.
Imaginary money. I do hope that its eventual sale will pay for modest retirement premises somewhere here on the Left Coast, with enough left over for a feller to throw hisself a bang-up party.
cordially,
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Post #392,388
7/25/14 3:46:16 PM
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Or, counting chickens before they hatch!
I'll be trying to sell a house in Charlotte for 3-4 times what I paid for it back in 1979. Accounting for inflation and after closing costs, it's probably break even. Alex
"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."
-- Isaac Asimov
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Post #392,394
7/25/14 4:56:55 PM
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Fortunately, I'm sitting pretty.
I took over an existing loan of 1979 US $32,000. Used my entire inheritance from my mothers father - just $8,000 (his fortune was split over somewhat less than an infinite number of descendants - the family was Catholic - and he lived to a ripe old age) to buy out the loan.
The then owners, the Cherrys, immediately filed bankruptcy, which put the property at the mercy of the court for a few months.
During those months the real estate lady, who had been unaware of the property until I picked it out of her book (they didn't have computers in those days), tried to talk me out of it, promising to completely refund my deposit (submitted the moment I saw the property). She had a lot of developers on tap who would have (with a few intermediate changes in title), provided her with far more in commissions and other profits.
"Life is not fair". That saying works both ways, and somehow, through no virtue of my own, I keep landing on the right side of "unfair". Not a whole lot, but enough to get by.
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Post #392,396
7/25/14 5:21:03 PM
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I don't look forward to dealing with real estate folks.
Yours should be on your side, but one never knows what else is on their agenda. Alex
"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."
-- Isaac Asimov
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Post #392,412
7/26/14 8:45:22 AM
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The only side they're on is closing the deal
They don't make shit on a deal that doesn't close, and their time is worth more than another 2% on the price of YOUR deal.
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Post #392,391
7/25/14 4:08:38 PM
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Congrats!
Yeah, the problem is while your property values go up, so do the costs of the next place you want to live. But it helps to buy at the right time, too.
There's a nice "infill" place for sale down the street that was built in 2008 for $1.4M (claimed 6,000 sq ft). They've been trying to sell it for a few months and the price is under $1.3M now. I suspect they'll have to drop it further. I wouldn't want to be in their shoes. :-(
Cheers,
Scott.
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Post #392,399
7/25/14 5:48:12 PM
7/25/14 6:26:51 PM
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Re: Congrats!
I have my eye on a city in the PNW that doesn't seem to be appreciating as rapidly as the Bay Area, and which doesn't appear to include anything like as dense as the criminal demographic I'm dealing with here (I am so ready to deal with de facto segregation, you bet!).
cordially,
Edited by rcareaga
July 25, 2014, 06:26:51 PM EDT
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Post #392,400
7/25/14 5:55:37 PM
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May I ask what is the "PNY" other than . . .
. . a memory and video card vendor?
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Post #392,401
7/25/14 6:28:33 PM
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I have no proper answer
I meant "PNW" for "Pacific northwest."
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Post #392,402
7/25/14 7:00:22 PM
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Dream of the 90s.
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Post #392,406
7/25/14 7:40:49 PM
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had a friend just relo from san ho
to bumfuck idaho north of coeur d'alene. He loves him some peace and quiet Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 59 years. meep
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Post #392,424
7/26/14 9:13:44 PM
7/26/14 9:24:02 PM
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Comfort seduces us all...
Had I Acted! ... on the clearest message-Ever, from my Instinctive-center: the day after the USSC Mafiosi saddled the universe with that Caligula-wannabe
(as needed no 9/11 to discern, in his every vapid utterance; Cheney's 'special-relationship' was already evident as he HAD nominated-Self, successfully etc.)
I'd have cashed-in, also likely headed in that compass direction (didn't know about the wonders of Bhutan nor--later--its Achilles Heel, either.)
It was Clear that the next 4 years would become retrograde beyond my febrile-imagination! I Have no Excuse: 100%-FAIL. No ties beyond comfortable-Convenience.
I'd have made-out OK then, too--as now, as my local spot becomes increasingly Gentrified, here close-enough to SF/the font of as many nascent- insouciant- of the $$-obscene
as you can shake a 24k golden-stick at.
(While, thus far the County isn't overtly ruled by these insulated-predators; ya never know when some cabal successfully stacks the local Board-minions, sub-rosa and all.)
Meanwhile, I too punt. it's the Comfortable thing to do, eh?
Ed: oTyp
Comfort is more addictive than a key of Bolivian blue-flake or superb-grade H. If anything should be on any Narco-list? It should be in the Top-3. I wot.
('Course you could no more enforce that 'Law' than most of the other ones that came out of sanctimonious Unicorn-nether-regions.) Catch-23
Edited by Ashton
July 26, 2014, 09:24:02 PM EDT
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Post #392,409
7/26/14 12:10:49 AM
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Sydney is yet to play in that game.
It's kind of scary. It's the most or nearly the most expensive place in Oz to buy (or rent), due to a raft of issues from over the decades. Prices should really be some 40% lower, but if prices were to actually drop it would be painful for nearly everyone. Which is why no-one is talking about it.
Wade.
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