SD Realtor, I completely agree with you. Most people didn’t buy the house in 99 expecting this kind of run up. Even if they did, if they take their profit and roll it into another property, then I would say it’s no different than someone who took the profit from qcom in 2000 and roll it right into another tech stock. It’s all paper gain until they sell and not roll the profit into another one. And base on what have been discussing here in this board, people who sold and sit on the sideline and rent is the exception, not the rule. So DaC, I don’t count paper gain as gain at all. I know plenty of people who were millionaires with their paper gain in 2000 as well.
SD Realtor, I completely agree with you. Most people didn’t buy the house in 99 expecting this kind of run up. Even if they did, if they take their profit and roll it into another property, then I would say it’s no different than someone who took the profit from qcom in 2000 and roll it right into another tech stock. It’s all paper gain until they sell and not roll the profit into another one. And base on what have been discussing here in this board, people who sold and sit on the sideline and rent is the exception, not the rule. So DaC, I don’t count paper gain as gain at all. I know plenty of people who were millionaires with their paper gain in 2000 as well.
In my own financial universe I do not categorize gains as paper or something else. The value of my assets are what they are on any given day. Just because I have decided to hold onto certain stocks and real estate does not mean to me that my gains aren’t real – they are very real to me. I’m just holding the gain in an asset as opposed to cash. That’s just my perspective. There’s no right or wrong as far as I’m concerned.
Regarding 11053 Doverhill – it closed on 6/18 for $690.5K. That’s down $57.5K (7.6%) from the prior sales price in ’05.
In my own financial universe I do not categorize gains as paper or something else. The value of my assets are what they are on any given day. Just because I have decided to hold onto certain stocks and real estate does not mean to me that my gains aren’t real – they are very real to me. I’m just holding the gain in an asset as opposed to cash. That’s just my perspective. There’s no right or wrong as far as I’m concerned.
Regarding 11053 Doverhill – it closed on 6/18 for $690.5K. That’s down $57.5K (7.6%) from the prior sales price in ’05.
