Comments on: Get Used To It http://www.bubbleinfo.com/2010/02/14/get-used-to-it/ An insider's guide to North San Diego County Real Estate Thu, 09 Sep 2010 16:05:34 +0000 hourly 1 By: sdbri http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28843 sdbri Tue, 16 Feb 2010 20:52:34 +0000 http://www.bubbleinfo.com/?p=6639#comment-28843 shadash, you have chronology backwards here. The housing bubble formed and popped long before the bailouts you're referring to. The main difference of coruse is we'd have accountability now. But the housing crash, short sales, and foreclosures? That would have happened either way. shadash, you have chronology backwards here. The housing bubble formed and popped long before the bailouts you’re referring to. The main difference of coruse is we’d have accountability now. But the housing crash, short sales, and foreclosures? That would have happened either way.

]]> By: clearfund http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28839 clearfund Tue, 16 Feb 2010 20:12:44 +0000 http://www.bubbleinfo.com/?p=6639#comment-28839 David - For fund, since you live in Greyhawk, Here is the address/maplink to the Greyhawk house referenced earlier that sold at the Friday TS in Phonix. Its the one with the darker red roof straight line from the san trap and has 2 umbrellas in the rear yard. Property: 8101 Wingspan Way, Scottsdale, AZ http://www.bing.com/maps/?v=2&cp=pmck5x5p71wk&scene=5715528&lvl=2&sty=b&where1=8101%20E%20Wingspan%20Way%2C%20Scottsdale%2C%20AZ%2085255-6451 David – For fund, since you live in Greyhawk, Here is the address/maplink to the Greyhawk house referenced earlier that sold at the Friday TS in Phonix.

Its the one with the darker red roof straight line from the san trap and has 2 umbrellas in the rear yard.

Property: 8101 Wingspan Way, Scottsdale, AZ

http://www.bing.com/maps/?v=2&cp=pmck5×5p71wk&scene=5715528&lvl=2&sty=b&where1=8101%20E%20Wingspan%20Way%2C%20Scottsdale%2C%20AZ%2085255-6451

]]> By: Suzanne http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28822 Suzanne Tue, 16 Feb 2010 00:02:12 +0000 http://www.bubbleinfo.com/?p=6639#comment-28822 Blur #9: I was there the same day too, and saw that makeshift sign for Valentine's. Small world. There was a young boy there too, with the same idea, he'd bought a set of tulips, waiting for his special someone. I'd expect to pay more at that particular shopping center. I was surprised to see vacancies at that center. On the whole, though, all the shops I'd expected to see were still there. I used to work in that area, about 10 years ago, and loved it there, and I am very familiar with that particular shopping center. On friday, I met my tax lady on Del Mar Heights up the street farther, so I'd stopped by the shopping center. All the old places like Rocco's and Aveda were still there, along with Barnes & Noble. A while back, Jim had shown a bit of the shopping center in his video, with the ground fountain that shoots water from the ground & I got nostalgic, and when I had the chance to stop by this past friday, coming back from La Jolla, I took it to see hows things were in the center. It does look run down, from when I remember it, although the surrounding areas like the parks and library, just around the corner looks virtually the same. I felt terrible, though, as I drove to see the library, on the way to meet my tax lady, I almost ran over the poor young fellow who'd bought the tulips, and had sat waiting by the flower shop. I can only imagine how he must've felt, stood up, and almost run over by me, riding his skate board on the way home! Blur #9: I was there the same day too, and saw that makeshift sign for Valentine’s. Small world. There was a young boy there too, with the same idea, he’d bought a set of tulips, waiting for his special someone. I’d expect to pay more at that particular shopping center. I was surprised to see vacancies at that center. On the whole, though, all the shops I’d expected to see were still there. I used to work in that area, about 10 years ago, and loved it there, and I am very familiar with that particular shopping center. On friday, I met my tax lady on Del Mar Heights up the street farther, so I’d stopped by the shopping center. All the old places like Rocco’s and Aveda were still there, along with Barnes & Noble. A while back, Jim had shown a bit of the shopping center in his video, with the ground fountain that shoots water from the ground & I got nostalgic, and when I had the chance to stop by this past friday, coming back from La Jolla, I took it to see hows things were in the center. It does look run down, from when I remember it, although the surrounding areas like the parks and library, just around the corner looks virtually the same. I felt terrible, though, as I drove to see the library, on the way to meet my tax lady, I almost ran over the poor young fellow who’d bought the tulips, and had sat waiting by the flower shop. I can only imagine how he must’ve felt, stood up, and almost run over by me, riding his skate board on the way home!

]]> By: FreedomCM http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28814 FreedomCM Mon, 15 Feb 2010 18:21:54 +0000 http://www.bubbleinfo.com/?p=6639#comment-28814 Jim, What was that last comment about $30k? Is that the way they will decide which offer to submit, by who offers the $30k bribe? Jim,

What was that last comment about $30k? Is that the way they will decide which offer to submit, by who offers the $30k bribe?

]]> By: David Overfield http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28803 David Overfield Mon, 15 Feb 2010 07:20:09 +0000 http://www.bubbleinfo.com/?p=6639#comment-28803 Clearfund. Hey, I live in Grayhawk! Yes, we've seen the same thing. Properties are much more expensive this year. Actually I'd say the best values in Phoenix were January 2009 through mid summer 2009. Since, oh July or so, there has been a lot of bidders paying way too much. Can't find anything in the south east valley (Gilbert, Chandler), because properties are going for around 85% of ARV. Crazy. It seems like quite a few buyers at auction want to hold for cash flow AND resale in 2 to 5 years when they expect prices to rise again. There just isn't as much margin for flipping as before. If you are out this way, send me a message and we can meet up at Starbucks and swap stories... Clearfund.

Hey, I live in Grayhawk!

Yes, we’ve seen the same thing. Properties are much more expensive this year. Actually I’d say the best values in Phoenix were January 2009 through mid summer 2009. Since, oh July or so, there has been a lot of bidders paying way too much.

Can’t find anything in the south east valley (Gilbert, Chandler), because properties are going for around 85% of ARV. Crazy.

It seems like quite a few buyers at auction want to hold for cash flow AND resale in 2 to 5 years when they expect prices to rise again.

There just isn’t as much margin for flipping as before.

If you are out this way, send me a message and we can meet up at Starbucks and swap stories…

]]> By: SWM http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28800 SWM Mon, 15 Feb 2010 03:08:36 +0000 http://www.bubbleinfo.com/?p=6639#comment-28800 It does seem like it is just a matter of time before the shadow inventory has to be dumped on the market. It seems stupid the banks aren't listing more of their more marketable properties on the market. But then, banks were never designed to do this. And very few of them seem to be learning or have the management with the qualities to move ahead in this market. Plus, there are expected to be at least 100 more bank failures this year and they all can't be in Georgia. It does seem like it is just a matter of time before the shadow inventory has to be dumped on the market. It seems stupid the banks aren’t listing more of their more marketable properties on the market. But then, banks were never designed to do this. And very few of them seem to be learning or have the management with the qualities to move ahead in this market. Plus, there are expected to be at least 100 more bank failures this year and they all can’t be in Georgia.

]]> By: W.C. Varones http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28797 W.C. Varones Sun, 14 Feb 2010 23:01:00 +0000 http://www.bubbleinfo.com/?p=6639#comment-28797 Shadash & Blur- I was on your side, but just gave up and bought with a 30-year fixed because I figure those bastards are going to print as much as it takes to keep the banks solvent. Shadash & Blur-

I was on your side, but just gave up and bought with a 30-year fixed because I figure those bastards are going to print as much as it takes to keep the banks solvent.

]]> By: Susie http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28796 Susie Sun, 14 Feb 2010 22:49:17 +0000 http://www.bubbleinfo.com/?p=6639#comment-28796 Shadash, I, too, have similar sentiments as you posted in your (#10) comments. I also enjoyed reading Blur's comments (#9). I'm a quote addict--but not being much of a sports fan--I never heard of John Wooden's words: "Be quick but never in a hurry". What a perfect quote for Real Estate Land! I'm writing this one down as I continue the hunt to become a homeowner once again. Blur, mahalo for posting it. Shadash, I, too, have similar sentiments as you posted in your (#10) comments. I also enjoyed reading Blur’s comments (#9). I’m a quote addict–but not being much of a sports fan–I never heard of John Wooden’s words: “Be quick but never in a hurry”.

What a perfect quote for Real Estate Land! I’m writing this one down as I continue the hunt to become a homeowner once again. Blur, mahalo for posting it.

]]> By: shadash http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28795 shadash Sun, 14 Feb 2010 22:16:59 +0000 http://www.bubbleinfo.com/?p=6639#comment-28795 Blur, My internal perception of what's right and what's wrong in the world hopes that you're right. My realist side isn't as excited. As long as banks and the gov can borrrow to cover every bet they make the small guy swimming against the stream can't win. Blur,

My internal perception of what’s right and what’s wrong in the world hopes that you’re right.

My realist side isn’t as excited. As long as banks and the gov can borrrow to cover every bet they make the small guy swimming against the stream can’t win.

]]> By: The Blur http://www.bubbleinfo.com/2010/02/14/get-used-to-it/comment-page-1/#comment-28794 The Blur Sun, 14 Feb 2010 22:04:43 +0000 http://www.bubbleinfo.com/?p=6639#comment-28794 You can feel the tension out there looking at homes; selling agents complaining about buyers and lenders; buyers glaring at each other in passing as they compete for limited deals; sellers clinging to their wishing prices; neighbors blasting diesel fumes and C+C Music Factory in an attempt to sabotage open houses. And it's not just in the housing market; you can feel the tension in the stock and bond markets; currencies and commodities markets. You can feel it in Washington and internationally. You hear about companies no longer matching 401(k)'s, sales professionals being forced to take vacations. It's everywhere. Yesterday the flower shop in the Del Mar Highlands Plaza next to Jimbo's wanted $95 plus tax for a dozen roses. While I expect to be taken for a ride buying flowers around Valentine's Day, I had no option but to walk out. I wasn't alone. As I exited, I noticed the sign on the window stating the shop will soon move to a less desirable location - probably another casualty of the shopping center raising rents, ala "Los Cabos" Mexican Restaurant. There's an attitude shift happening right now. And for the responsible people, our time is coming. Maybe not tomorrow, maybe not next month or year, but soon. I'm ready to buy, but not impatient. Opportunities will come. In the words of the immortal John Wooden, "be quick but never in a hurry." The shenanigans will end soon; agents puling scams; flippers turning $200k profits; investor ponzi schemes; government bailouts; Wall St. executive pay; the USC athletic department giving homes, Land Rovers, and envelopes full of cash to their star players. Many readers here wonder if they'll ever benefit from being responsible, and I think the answer is, "yes, and soon." There's an attitude shift and you can feel the tension everywhere. The responsible ones are beginning to take leverage. You can feel the tension out there looking at homes; selling agents complaining about buyers and lenders; buyers glaring at each other in passing as they compete for limited deals; sellers clinging to their wishing prices; neighbors blasting diesel fumes and C+C Music Factory in an attempt to sabotage open houses.

And it’s not just in the housing market; you can feel the tension in the stock and bond markets; currencies and commodities markets. You can feel it in Washington and internationally. You hear about companies no longer matching 401(k)’s, sales professionals being forced to take vacations.

It’s everywhere. Yesterday the flower shop in the Del Mar Highlands Plaza next to Jimbo’s wanted $95 plus tax for a dozen roses. While I expect to be taken for a ride buying flowers around Valentine’s Day, I had no option but to walk out. I wasn’t alone. As I exited, I noticed the sign on the window stating the shop will soon move to a less desirable location – probably another casualty of the shopping center raising rents, ala “Los Cabos” Mexican Restaurant.

There’s an attitude shift happening right now. And for the responsible people, our time is coming. Maybe not tomorrow, maybe not next month or year, but soon. I’m ready to buy, but not impatient. Opportunities will come. In the words of the immortal John Wooden, “be quick but never in a hurry.” The shenanigans will end soon; agents puling scams; flippers turning $200k profits; investor ponzi schemes; government bailouts; Wall St. executive pay; the USC athletic department giving homes, Land Rovers, and envelopes full of cash to their star players.

Many readers here wonder if they’ll ever benefit from being responsible, and I think the answer is, “yes, and soon.” There’s an attitude shift and you can feel the tension everywhere. The responsible ones are beginning to take leverage.

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