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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:01 AM Original message |
CA Real Estate "Expert" gives INSANE advice: WAIT to sell your house. |
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babylonsister (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:04 AM Response to Original message |
1. Why not wait? Who is buying houses now? |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:08 AM Response to Reply #1 |
3. Because house prices are still at historic highs. |
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babylonsister (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:24 AM Response to Reply #3 |
8. There's the rub: "if you can move the house". And no, |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:57 AM Response to Reply #8 |
11. Please study up on the housing bubble and the disconnect between incomes and prices from 2000 on... |
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Demeter (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:21 AM Response to Reply #8 |
16. 3 Years Applies in a "Normal" Housing Recession |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:41 AM Response to Reply #16 |
28. Look at Houston. Those prices stayed depressed permanently. |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:28 AM Response to Reply #3 |
20. Except you can't move houses right now. Not for anywhere near list/"market." |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:29 AM Response to Reply #20 |
21. That's because "list/market" is still unrealistically high. |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:41 AM Response to Reply #21 |
27. So what's the benefit in selling now? That $550 house is worth max $400 now or later. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:53 AM Response to Reply #27 |
31. I think it is, because the article is working on a false assumption. |
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Gormy Cuss (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:15 AM Response to Reply #27 |
35. That is in fact the point --aggressive discounting and a large inventory |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:26 AM Response to Reply #35 |
39. Thank you for putting that so nicely... |
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JCMach1 (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:05 AM Response to Original message |
2. Yeah, wait to sell that ENRON stock! |
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davidinalameda (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:08 AM Response to Original message |
4. she makes perfect sense |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:10 AM Response to Reply #4 |
5. With the qualifier... |
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davidinalameda (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 07:45 PM Response to Reply #5 |
45. home purchases should be long term investments |
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KharmaTrain (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:18 AM Response to Original message |
6. Location, Location, Location |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:46 AM Response to Reply #6 |
9. It may be a good time to buy in Pittsburgh or Dallas. |
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KharmaTrain (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:57 AM Response to Reply #9 |
12. Also Good Time To Buy In NOLA...Of All Places |
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nebenaube (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:02 AM Response to Reply #6 |
13. You may have it... |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:27 AM Response to Reply #13 |
19. Urban areas like NYC, Chicago, San Francisco will definitely hold their value better than exurbs |
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Lorien (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 11:51 AM Response to Reply #6 |
44. That's the situation here in my city (Orlando). Some areas 15-20 minutes |
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dysfunctional press (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:20 AM Response to Original message |
7. but as you said- that's your "guess"... |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 08:51 AM Response to Reply #7 |
10. This is my optimistic guess. |
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Zynx (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:40 AM Response to Reply #10 |
26. I agree that housing won't recover for some time, but here's the thing: |
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robcon (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:09 AM Response to Original message |
14. Speculate all you want about housing prices |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:19 AM Response to Reply #14 |
15. With incomes stagnant, credit dried up and commodities sky-high, who will buy these houses? |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:22 AM Response to Original message |
17. Sorry, I meant to include this link/ citation for current median CA house price. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:24 AM Response to Original message |
18. If you don't HAVE to sell, it's good advice |
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Zynx (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:31 AM Response to Original message |
22. It's similar to why you don't sell stocks when a panic is underway. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:37 AM Response to Reply #22 |
24. This is not a panic. It's the beginning of an adjustment back to historical trends. |
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Zynx (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:45 AM Response to Reply #24 |
29. It is the housing market's equivilant to a panic. |
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L. Coyote (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:35 AM Response to Original message |
23. Each neighborhood warrants its own decision. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:38 AM Response to Reply #23 |
25. I've seen some lovely homes in Pittsburgh advertised for $29K. |
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L. Coyote (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 09:47 AM Response to Reply #25 |
30. Noble brownstones in distrerssed areas are near free! |
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aikoaiko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:03 AM Response to Reply #23 |
33. I'd like to see a link for a nice home for 20K. |
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aikoaiko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:02 AM Response to Original message |
32. Rent it out if you can. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:06 AM Response to Reply #32 |
34. Problem is that in bubbly areas, you sometimes can't get half your payment from renting it out. |
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DadOf2LittleAngels (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:16 AM Response to Original message |
36. Sorry but I disagre with both of you.. |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:23 AM Response to Reply #36 |
38. I am not saying "everyone should sell." |
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kwassa (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:44 AM Response to Reply #38 |
40. If the real estate experts don't agree, and they don't .... |
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El Pinko (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 11:21 AM Response to Reply #40 |
42. None taken. Who the hell am I, anyway? |
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Mountainman (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:16 AM Response to Original message |
37. I may be lucky. I have a house for sale in the mountains east of Bakersfield. |
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Vinca (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 10:59 AM Response to Original message |
41. That advice isn't so crazy. I imagine it depends where you live |
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Xithras (1000+ posts) Send PM | Profile | Ignore | Mon Mar-31-08 11:41 AM Response to Original message |
43. Not poor advice. Many bubbly areas are already seeing a 50% drop. |
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