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June 8, 2007 at 5:34 PM #58058June 8, 2007 at 5:41 PM #58034PDParticipant
When we bought in the spring of 2002, we thought that we might be buying near the peak of the current cycle but after running many spreadsheet calculations, we thought we would be okay. After the crazy buying in the spring of 04, we KNEW we were getting close to the top. By fall of 04, we could hardly wait to list our house and cash in before things hit the skids. We were afraid that if there was a very sudden downturn, we could loose big before we could get it sold. As soon as my husband received his new set of orders, we listed our house and it closed escrow 2 months later in the spring of 05. Phew! We were soooo happy the day the money hit the bank. It turns out that we sold at or very near the peak in our neighborhood.
We’ve been renting since then. I really don’t like renting and can’t wait to have my own house again. I don’t think we will sell and rent again after the next cycle top. I’m a very unhappy renter who spends waaaay too much time looking at houses on ziprealty. I’m finding it hard to not buy when we can afford it. I have to run the numbers at least once a month in order to feel better. When you factor in the opportunity cost of the down payment, coupled with only a modest depreciation, it would be INSANE for us to buy right now.June 8, 2007 at 5:41 PM #58060PDParticipantWhen we bought in the spring of 2002, we thought that we might be buying near the peak of the current cycle but after running many spreadsheet calculations, we thought we would be okay. After the crazy buying in the spring of 04, we KNEW we were getting close to the top. By fall of 04, we could hardly wait to list our house and cash in before things hit the skids. We were afraid that if there was a very sudden downturn, we could loose big before we could get it sold. As soon as my husband received his new set of orders, we listed our house and it closed escrow 2 months later in the spring of 05. Phew! We were soooo happy the day the money hit the bank. It turns out that we sold at or very near the peak in our neighborhood.
We’ve been renting since then. I really don’t like renting and can’t wait to have my own house again. I don’t think we will sell and rent again after the next cycle top. I’m a very unhappy renter who spends waaaay too much time looking at houses on ziprealty. I’m finding it hard to not buy when we can afford it. I have to run the numbers at least once a month in order to feel better. When you factor in the opportunity cost of the down payment, coupled with only a modest depreciation, it would be INSANE for us to buy right now.June 8, 2007 at 6:23 PM #58040AKguyParticipantWe sold in SF Bay Area and moved to Alaska in summer, 2005. We missed the perfect selling window by a month or two, but made a nominal $400K profit selling the little house with a view I bought in 1991. We didn’t bank all our profits, but bought a 2x larger house with a spectacular mountain/glacier view in a very nice neighborhood for $240K less than our prior sale price. The kids love our neighborhood, the schools are good, and it has been a good move all in all. I still miss California (I’m a 4th generation native), and we may eventually return (you don’t know how important sunshine is to your mental health until you do without for a month or so).
Interestingly, there is much more inventory of houses for sale here than when we bought two years ago.
June 8, 2007 at 6:23 PM #58066AKguyParticipantWe sold in SF Bay Area and moved to Alaska in summer, 2005. We missed the perfect selling window by a month or two, but made a nominal $400K profit selling the little house with a view I bought in 1991. We didn’t bank all our profits, but bought a 2x larger house with a spectacular mountain/glacier view in a very nice neighborhood for $240K less than our prior sale price. The kids love our neighborhood, the schools are good, and it has been a good move all in all. I still miss California (I’m a 4th generation native), and we may eventually return (you don’t know how important sunshine is to your mental health until you do without for a month or so).
Interestingly, there is much more inventory of houses for sale here than when we bought two years ago.
June 8, 2007 at 7:01 PM #58045NotCrankyParticipantAK
What part of Alaska?I have been to AK four times. The beautiful season coming on is a big consolation prize for the others.Daylight at midnight is so cool.Do you fish? I think of being there every year at this time,since I first hitch hiked there after finishing high school in California in 1980.June 8, 2007 at 7:01 PM #58070NotCrankyParticipantAK
What part of Alaska?I have been to AK four times. The beautiful season coming on is a big consolation prize for the others.Daylight at midnight is so cool.Do you fish? I think of being there every year at this time,since I first hitch hiked there after finishing high school in California in 1980.June 8, 2007 at 7:27 PM #58047AKguyParticipantWe moved to Juneau, the capital city, which is in SE Alaska. We live in a ‘temperate’ rain forest. Our first fall was pretty depressing, with months of rainy days on end, and diminishing daylight. The uplift of seeing the sunlight on a mountaintop for a few minutes after weeks of overcast makes you realize just how important it is to get a little sunshine. This last winter was extremely snowy–~220 inches of snow, all of which I shoveled by hand off of our driveway. Snow and cold was much more tolerable than that dreary rain. With snow on the ground, the landscape is much brighter. Besides that, I’m learning to ski, gradually.
I don’t fish much, ironically enough, since this is fishing paradise and my father and brother back in CA are fishing fanatics. This is gorgeous country, and when the sun is out you never want to leave.
See view from front of our house a couple of months ago:
June 8, 2007 at 7:27 PM #58072AKguyParticipantWe moved to Juneau, the capital city, which is in SE Alaska. We live in a ‘temperate’ rain forest. Our first fall was pretty depressing, with months of rainy days on end, and diminishing daylight. The uplift of seeing the sunlight on a mountaintop for a few minutes after weeks of overcast makes you realize just how important it is to get a little sunshine. This last winter was extremely snowy–~220 inches of snow, all of which I shoveled by hand off of our driveway. Snow and cold was much more tolerable than that dreary rain. With snow on the ground, the landscape is much brighter. Besides that, I’m learning to ski, gradually.
I don’t fish much, ironically enough, since this is fishing paradise and my father and brother back in CA are fishing fanatics. This is gorgeous country, and when the sun is out you never want to leave.
See view from front of our house a couple of months ago:
June 8, 2007 at 8:09 PM #58074rockysan99ParticipantCanadian Royalty Trusts to the rescue
We sold in Sept 05 and moved into Candadiam Royalty Trusts just last November to receive montly stipends. We are short AMBAC (ABK) at 95, Royal Caribbean (RCL)at 42.50 via long term puts to avoid having to pay the dividend. We see great weakness in both issues due to the housing market corrosion and it’s spilling over into the economy. We are also taking a hard look at shorting Whirlpool at 111. It is at or near it’s high like the other two and we see great risk to the downside in today’s climate.
June 8, 2007 at 8:09 PM #58049rockysan99ParticipantCanadian Royalty Trusts to the rescue
We sold in Sept 05 and moved into Candadiam Royalty Trusts just last November to receive montly stipends. We are short AMBAC (ABK) at 95, Royal Caribbean (RCL)at 42.50 via long term puts to avoid having to pay the dividend. We see great weakness in both issues due to the housing market corrosion and it’s spilling over into the economy. We are also taking a hard look at shorting Whirlpool at 111. It is at or near it’s high like the other two and we see great risk to the downside in today’s climate.
June 8, 2007 at 8:10 PM #58050rockysan99ParticipantI forgot to mention we are now renting in Anaheim Hills.
June 8, 2007 at 8:10 PM #58076rockysan99ParticipantI forgot to mention we are now renting in Anaheim Hills.
June 8, 2007 at 8:19 PM #58052NotCrankyParticipantThe winters would be tough. It sounds like a very nice place for your family. Juneau is a nostalgic place for me. I have pictures of my younger self in my dress whites (Enlisted navy)barefooted standing on a chunk of floating ice in front of the Mendenhall glacier. Maybe I am not remembering the name correctlty? A bunch of us went out there together and took turns on this impromtu photo op. It was great port visit on the way to the worlds fair in Vancouver. A cruise through the inland passage is highly recommended by Rustico, not necessarily in a haze gray destroyer.
June 8, 2007 at 8:19 PM #58079NotCrankyParticipantThe winters would be tough. It sounds like a very nice place for your family. Juneau is a nostalgic place for me. I have pictures of my younger self in my dress whites (Enlisted navy)barefooted standing on a chunk of floating ice in front of the Mendenhall glacier. Maybe I am not remembering the name correctlty? A bunch of us went out there together and took turns on this impromtu photo op. It was great port visit on the way to the worlds fair in Vancouver. A cruise through the inland passage is highly recommended by Rustico, not necessarily in a haze gray destroyer.
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