I think Anderson is full of BS and told you so before you wasted your money going. They have never been right. I have colleagues that tell stories about them saying CA is recession proof 1 month before the market tanked a decade ago.
You guys make me laugh. I was in here a few months ago offering a property for sale in Amarillo and man, you guys laid into me big time. It got VERY negative and although I’m typically thick-skinned, you somehow got under my layers and I felt defeated.
I felt somewhat vindicated because this is just the outcome I thought would occur. My ENTIRE point of any post I offered was that WHEN your market fails, AND you want to move your equity, CONSIDER Amarillo (or anywhere Texas).
I offered a property via web link for a luxury home ($167/square foot) here in Amarillo and the response was swift and punishing. Again, for those new readers; here’s the link: http://21sandhills.com
Someone (can’t recall who) offered up this bit of wisdom: “Why would I trade my bubble for yours”? Okay kids, read the first article from the LA Times (Martin Crutsinger) and see for yourself why.
Of course, I’m ready this time for the onslaught of flames and negativity, but now at least the tide is turning (we have no tides in Amarillo) on the statistics of just where the housing economy is sliding.
I’ve been to Amarillo before and the only thing I remember was a bunch of old Cadillacs buried in the ground. I think you also have a monument to helium. Thats all I remember.
Mostly we flamed you for using this board for advertisement purposes. Don’t you get it ?
So, your wonderfully underpriced, monster house in beautiful Amarillo is still on the market ? Hmmm, I smell something, is it manure or is the market slowing nationally ?
I think or friend from Texas is back because no one in the area can afford a $600k home. A quick check of labor stats for Potter county show the average weekly income of $667.
He is thinking that someone here who had a mortgage on a $400k home that was sold last year for $1.1mil might have the equity to buy it. Unfortunately, those gains were mostly on paper and very few people cashed out. A lot of the people who did cash out hang around here, so he is targeting the right audience. The catch is: if you were smart enough to cash out last year, are you now foolish enough buy again this year (especially in a location were the economy can’t support the price)?
