Ahh revenge……..how sweet it is!

[jpinpb]

Murf2222 – man, I so can relate to your story. It’s pretty close to mine, on a lesser scale. I bought my place in ’91 and rode out a pretty darn real estate rough patch, barely, through the ’90’s. (stress aged me) Prices went down and remained so for a while.

Once through it, I saw some hefty price increases and finally got tempted enough to sell (prematurely – prices doubled on my place, so tell me about the sickening nausea).

I think each of us (perhaps many more out there) did not anticipate or expect the subprime free money. Take away free money, which extended the cycle much longer, we probably would have been okay. But the teaser rates allowed people to buy more house than they ordinarily would have. I mean teaser rates were like almost half the conventional loan – and gee, prices doubled.

In the interim, I enjoyed similar occasional weekends of looking at places and watching price increases which were demoralizing. I had to endure pressure from family and friends and S/O to buy. Heated discussions were common. Resisting was like swimming against the current.

But I refused to get on the subprime train. I thought it was only destined for Disasterville. People were happily going on board and pointing and laughing at me and waving goodbye like I was a loser.

So who’s laughing now. I do feel relieved to have gotten away unscathed and grateful for that. I don’t mind renting. It can be a liberating feeling. But having done both, I do miss having a house and hope to be able to buy again soon.

I am happy for you to see prices return to your original sales price. I am not seeing that yet for me here (very resistant), but perhaps there’s time for that land tsunami to affect SD and bring it down to close to that at least.

[seattle-relo]

Dude, you made a hundred grand. Rather than being giddy on the backs of others misfortune, why don’t you just be grateful for the profit you did make and that you aren’t living the housing nightmare so many people in the area are. Your reaction looks a lot like greed, in the end greed doesn’t get rewarded, but gratefullness does.

[seattle-relo]

Dude, you made a hundred grand. Rather than being giddy on the backs of others misfortune, why don’t you just be grateful for the profit you did make and that you aren’t living the housing nightmare so many people in the area are. Your reaction looks a lot like greed, in the end greed doesn’t get rewarded, but gratefullness does.

[seattle-relo]

Dude, you made a hundred grand. Rather than being giddy on the backs of others misfortune, why don’t you just be grateful for the profit you did make and that you aren’t living the housing nightmare so many people in the area are. Your reaction looks a lot like greed, in the end greed doesn’t get rewarded, but gratefullness does.

[seattle-relo]

Dude, you made a hundred grand. Rather than being giddy on the backs of others misfortune, why don’t you just be grateful for the profit you did make and that you aren’t living the housing nightmare so many people in the area are. Your reaction looks a lot like greed, in the end greed doesn’t get rewarded, but gratefullness does.

[seattle-relo]

Dude, you made a hundred grand. Rather than being giddy on the backs of others misfortune, why don’t you just be grateful for the profit you did make and that you aren’t living the housing nightmare so many people in the area are. Your reaction looks a lot like greed, in the end greed doesn’t get rewarded, but gratefullness does.

[ibjames]

I wish I could live in pb jp, I love it there, but prices are so freaking sticky for northern pb. My friend lives on Opal in a great place. We’ll see where this thing goes.

My wife used to be one of those “we’ve waited forever to buy, so let’s buy” SO’s. Now, I can’t even get her to go to an open house just to browse. I wanted to show her how much housing you could buy now at the same price we almost foolishly jumped into. Though we ended up going to a house with a crazy asking price so it didn’t really sink in DOH!!

So she won’t even look at housing for another year or so.. I like to browse.. she sees it as a waste of time because we aren’t buying anyway.. ugh..

Do you guys still browse? I think it’s important to keep browsing to keep an eye on things.. What do you think?

[ibjames]

I wish I could live in pb jp, I love it there, but prices are so freaking sticky for northern pb. My friend lives on Opal in a great place. We’ll see where this thing goes.

My wife used to be one of those “we’ve waited forever to buy, so let’s buy” SO’s. Now, I can’t even get her to go to an open house just to browse. I wanted to show her how much housing you could buy now at the same price we almost foolishly jumped into. Though we ended up going to a house with a crazy asking price so it didn’t really sink in DOH!!

So she won’t even look at housing for another year or so.. I like to browse.. she sees it as a waste of time because we aren’t buying anyway.. ugh..

Do you guys still browse? I think it’s important to keep browsing to keep an eye on things.. What do you think?

[ibjames]

I wish I could live in pb jp, I love it there, but prices are so freaking sticky for northern pb. My friend lives on Opal in a great place. We’ll see where this thing goes.

My wife used to be one of those “we’ve waited forever to buy, so let’s buy” SO’s. Now, I can’t even get her to go to an open house just to browse. I wanted to show her how much housing you could buy now at the same price we almost foolishly jumped into. Though we ended up going to a house with a crazy asking price so it didn’t really sink in DOH!!

So she won’t even look at housing for another year or so.. I like to browse.. she sees it as a waste of time because we aren’t buying anyway.. ugh..

Do you guys still browse? I think it’s important to keep browsing to keep an eye on things.. What do you think?

[ibjames]

I wish I could live in pb jp, I love it there, but prices are so freaking sticky for northern pb. My friend lives on Opal in a great place. We’ll see where this thing goes.

My wife used to be one of those “we’ve waited forever to buy, so let’s buy” SO’s. Now, I can’t even get her to go to an open house just to browse. I wanted to show her how much housing you could buy now at the same price we almost foolishly jumped into. Though we ended up going to a house with a crazy asking price so it didn’t really sink in DOH!!

So she won’t even look at housing for another year or so.. I like to browse.. she sees it as a waste of time because we aren’t buying anyway.. ugh..

Do you guys still browse? I think it’s important to keep browsing to keep an eye on things.. What do you think?

[ibjames]

I wish I could live in pb jp, I love it there, but prices are so freaking sticky for northern pb. My friend lives on Opal in a great place. We’ll see where this thing goes.

My wife used to be one of those “we’ve waited forever to buy, so let’s buy” SO’s. Now, I can’t even get her to go to an open house just to browse. I wanted to show her how much housing you could buy now at the same price we almost foolishly jumped into. Though we ended up going to a house with a crazy asking price so it didn’t really sink in DOH!!

So she won’t even look at housing for another year or so.. I like to browse.. she sees it as a waste of time because we aren’t buying anyway.. ugh..

Do you guys still browse? I think it’s important to keep browsing to keep an eye on things.. What do you think?

[jpinpb]

Well, I’m a little OCD when it comes to RE. I check regularly b/c I think there may be deals to be had, but hard to come by and when they come up, they go QUICK.

I learn along the way. There are several zip codes I check, usually on SDL. But only once in a while did I go to Realtor to check on multi-units (usually not as nice as SFH)

I remember that a duplex came up on Jackdaw in MH on a Friday. I hadn’t checked that week or weekend. I checked on the Monday following the listing. It went pending w/10 offers. Listed at something like 500k! I would have gone over the list on that – and I usually low ball! Each unit was 2/1. It made sense w/down and rent – covering PITI even above 500k. At peak they were selling for 750k on that street (2 years earlier)

So since then, I try to check regularly b/c you just never know. But I also monitor NODs and foreclosures to see what’s on the horizon and know the inventory.

For example, 2828 Deerpark caught my eye. Anyone not doing their homework would think it’s a good deal.

BUT 2 places were taken off the market (stealth), one listed for almost a year, one that was going to foreclosure that the bank hasn’t listed, one w/a NOD, and 3 others listed.

So that makes me think that street has some more price reductions on the way.

PB is sticky, but the hidden inventory is there. I can’t give addresses for all of them, but the one that readily comes to mind always is 1844 Law (very nice). Listed for a very long time, like 2 years, I think, for a million something. Reduced slightly, but still at a mil. NOD was filed in Oct. 2007. Foreclosure occurred like May 1 or thereabouts. Still not listed for sale by bank.

That’s just one quick example. There are many more. So my long answer, if you have time to check, then it doesn’t really hurt.

[jpinpb]

Well, I’m a little OCD when it comes to RE. I check regularly b/c I think there may be deals to be had, but hard to come by and when they come up, they go QUICK.

I learn along the way. There are several zip codes I check, usually on SDL. But only once in a while did I go to Realtor to check on multi-units (usually not as nice as SFH)

I remember that a duplex came up on Jackdaw in MH on a Friday. I hadn’t checked that week or weekend. I checked on the Monday following the listing. It went pending w/10 offers. Listed at something like 500k! I would have gone over the list on that – and I usually low ball! Each unit was 2/1. It made sense w/down and rent – covering PITI even above 500k. At peak they were selling for 750k on that street (2 years earlier)

So since then, I try to check regularly b/c you just never know. But I also monitor NODs and foreclosures to see what’s on the horizon and know the inventory.

For example, 2828 Deerpark caught my eye. Anyone not doing their homework would think it’s a good deal.

BUT 2 places were taken off the market (stealth), one listed for almost a year, one that was going to foreclosure that the bank hasn’t listed, one w/a NOD, and 3 others listed.

So that makes me think that street has some more price reductions on the way.

PB is sticky, but the hidden inventory is there. I can’t give addresses for all of them, but the one that readily comes to mind always is 1844 Law (very nice). Listed for a very long time, like 2 years, I think, for a million something. Reduced slightly, but still at a mil. NOD was filed in Oct. 2007. Foreclosure occurred like May 1 or thereabouts. Still not listed for sale by bank.

That’s just one quick example. There are many more. So my long answer, if you have time to check, then it doesn’t really hurt.

[jpinpb]

Well, I’m a little OCD when it comes to RE. I check regularly b/c I think there may be deals to be had, but hard to come by and when they come up, they go QUICK.

I learn along the way. There are several zip codes I check, usually on SDL. But only once in a while did I go to Realtor to check on multi-units (usually not as nice as SFH)

I remember that a duplex came up on Jackdaw in MH on a Friday. I hadn’t checked that week or weekend. I checked on the Monday following the listing. It went pending w/10 offers. Listed at something like 500k! I would have gone over the list on that – and I usually low ball! Each unit was 2/1. It made sense w/down and rent – covering PITI even above 500k. At peak they were selling for 750k on that street (2 years earlier)

So since then, I try to check regularly b/c you just never know. But I also monitor NODs and foreclosures to see what’s on the horizon and know the inventory.

For example, 2828 Deerpark caught my eye. Anyone not doing their homework would think it’s a good deal.

BUT 2 places were taken off the market (stealth), one listed for almost a year, one that was going to foreclosure that the bank hasn’t listed, one w/a NOD, and 3 others listed.

So that makes me think that street has some more price reductions on the way.

PB is sticky, but the hidden inventory is there. I can’t give addresses for all of them, but the one that readily comes to mind always is 1844 Law (very nice). Listed for a very long time, like 2 years, I think, for a million something. Reduced slightly, but still at a mil. NOD was filed in Oct. 2007. Foreclosure occurred like May 1 or thereabouts. Still not listed for sale by bank.

That’s just one quick example. There are many more. So my long answer, if you have time to check, then it doesn’t really hurt.

[jpinpb]

Well, I’m a little OCD when it comes to RE. I check regularly b/c I think there may be deals to be had, but hard to come by and when they come up, they go QUICK.

I learn along the way. There are several zip codes I check, usually on SDL. But only once in a while did I go to Realtor to check on multi-units (usually not as nice as SFH)

I remember that a duplex came up on Jackdaw in MH on a Friday. I hadn’t checked that week or weekend. I checked on the Monday following the listing. It went pending w/10 offers. Listed at something like 500k! I would have gone over the list on that – and I usually low ball! Each unit was 2/1. It made sense w/down and rent – covering PITI even above 500k. At peak they were selling for 750k on that street (2 years earlier)

So since then, I try to check regularly b/c you just never know. But I also monitor NODs and foreclosures to see what’s on the horizon and know the inventory.

For example, 2828 Deerpark caught my eye. Anyone not doing their homework would think it’s a good deal.

BUT 2 places were taken off the market (stealth), one listed for almost a year, one that was going to foreclosure that the bank hasn’t listed, one w/a NOD, and 3 others listed.

So that makes me think that street has some more price reductions on the way.

PB is sticky, but the hidden inventory is there. I can’t give addresses for all of them, but the one that readily comes to mind always is 1844 Law (very nice). Listed for a very long time, like 2 years, I think, for a million something. Reduced slightly, but still at a mil. NOD was filed in Oct. 2007. Foreclosure occurred like May 1 or thereabouts. Still not listed for sale by bank.

That’s just one quick example. There are many more. So my long answer, if you have time to check, then it doesn’t really hurt.

[Author]

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