A former colleague of mine put $200k down (his entire life savings) and bought a home here in Orange County against my advice. When I advised him that he is making a mistake because prices are going to decline sharply he ridiculed me and said that I’m mistaken and the market is at the bottom (it had declined slightly about 5% or so at the time). This is the optimistic Zillow valuation of his house right now. Gosh, some people just need to learn the hard way. This guy stands to lose his ENTIRE life savings.
Since the accuracy of a zestimate is akin to the self reported inches of a man’s manhood or a woman’s weight, I would worry what the comps are instead. But without knowing anything else about the purchase, if he bought a year ago, that 200k is toast. Bugs once wrote that you don’t make money in R/E when you sell, you make it when you buy. Those words have been ringing in my ear for weeks.
oops, I fixed a typo and it knocked my post down, making Padre’s post look out of order, my bad.
Since the accuracy of a zestimate is akin to the self reported inches of a man’s manhood or a woman’s weight, I would worry what the comps are instead. But without knowing anything else about the purchase, if he bought a year ago, that 200k is toast. Bugs once wrote that you don’t make money in R/E when you sell, you make it when you buy. Those words have been ringing in my ear for weeks.
oops, I fixed a typo and it knocked my post down, making Padre’s post look out of order, my bad.
Since the accuracy of a zestimate is akin to the self reported inches of a man’s manhood or a woman’s weight, I would worry what the comps are instead. But without knowing anything else about the purchase, if he bought a year ago, that 200k is toast. Bugs once wrote that you don’t make money in R/E when you sell, you make it when you buy. Those words have been ringing in my ear for weeks.
oops, I fixed a typo and it knocked my post down, making Padre’s post look out of order, my bad.
Since the accuracy of a zestimate is akin to the self reported inches of a man’s manhood or a woman’s weight, I would worry what the comps are instead. But without knowing anything else about the purchase, if he bought a year ago, that 200k is toast. Bugs once wrote that you don’t make money in R/E when you sell, you make it when you buy. Those words have been ringing in my ear for weeks.
oops, I fixed a typo and it knocked my post down, making Padre’s post look out of order, my bad.
Since the accuracy of a zestimate is akin to the self reported inches of a man’s manhood or a woman’s weight, I would worry what the comps are instead. But without knowing anything else about the purchase, if he bought a year ago, that 200k is toast. Bugs once wrote that you don’t make money in R/E when you sell, you make it when you buy. Those words have been ringing in my ear for weeks.
oops, I fixed a typo and it knocked my post down, making Padre’s post look out of order, my bad.
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