Humor -RE Investing – SIGNS OF A BUBBLE

[Roman]

Humorous Signs for the RE Bubble, HERE IS A SIGN:

1.When your neighbor who’s been renting his whole life, fast food co-worker, and/or over 50% of your friends are in the RE and call themselves investors…………..HERE IS A SIGN

2.When your realtor can’t spell / read / explain the buying process……HERE IS A SIGN

3.When your buddy, a carpenter, who just learned the skill in two weeks and makes 200-500% income per day than the educated class………..HERE IS A SIGN

4.When truck sales exceed the car sales in a city (like San Diego)……HERE IS A SIGN

5.When your RE agent explains the benefits of cashing your $500.00 401k account and convinces you to borrow from several banks to qualify for an interest only loan w/ zero down…..HERE IS A SIGN

6.When you follow the RE market trends from your McDonald’s kitchen and hear on the corner street about RE as a sure investment………HERE IS A SIGN

7.When you buy a loan, to live in a house because you qualify for the monthly payments………..HERE IS A SIGN

8.When you applied for a loan, your highest ever credit score was 580, your current paying and highest paying job earned you $9.25/hour, and the RE agent arranged special financing via lending partners for a McMansion in Santa Luz………..HERE IS A SIGN

9.When your RE agent is 23 years-old, but looks 18, and talks about the market experience and how prices never go down because she/he sold plenty of RE in his/her career….HERE IS A SIGN

Feel free to contribute to my list…I’m having a little fun today

[Roman]

I can’t help it but add a few more:

10. When you go out partying on Tuesday night, get hammered, and wake up the next day in a realtor’s office fully qualified for a loan……because you were asking sporadically “where the hell is my house”……HERE IS A SIGN

11. When you realize that most TV channels dedicate time to programs/shows such as: “flip this house”, “house hunters”, “bargain hunters” , “become a millionaire in RE”, and they all have been in the 6th season rerun ……..HERE IS A SIGN

12. When your Eastern European old friends, who are averaging $200 income per month, buzz you via the internet to help them invest in the US real estate market because it’s a sure investment…….HERE IS A SIGN

[Chrispy]

13. When you see hastily-scrawled notices on cardboard, taped to telephone poles, offering to “buy any house / we pay cash” (and the word cash is misspelled)….HERE IS A SIGN

[barnaby33]

14. When a man named Troy is selling stress-less mortgages from a billboard in PB by powerhouse gym… HERE IS A SIGN

15. When all the pretty young women you meet are RE/mortgage agents… HERE IS A SIGN

16. When the phrase “,it cash flows,” has some meaning to you… HERE IS A SIGN

Josh

[speedingpullet]

17) When a listing on Zip mentions an open house in March (because the DOM is in the upper 90’s now)…..HERE IS A SIGN

18) When the same listing has ‘priced to sell’, ‘HUGE price reduction’ (of about 2% from OLP)…..HERE IS A SIGN

19) When a house thats been on the market for over 300 days and still has ‘Hurry! Won’t Last!!’ in the blurb….HERE IS A SIGN

20) When a seller lists at 100% over what they paid for the place last October, and still thinks stuff like granite countertops, copper plumbing and a ‘gourmet’ kitchen (…does that mean its edible?) are worth the 2x 2005 selling price…..HERE IS A SIGN.

[Chrispy]

21. When someone brags about buying a condo for $200K and selling it for $400K two years later, then adds that he made $200K profit and when you ask if he considered expenses such as closing costs, agent’s commission, insurance, HOA, upgrades, etc and he has a blank look on his face…HERE IS A SIGN

[lindismith]

22. When your factory staff (all hourly wage earners) are carrying 15 page booklets on the benefits of home buying…. HERE IS A SIGN

23. When those same employees are crying in your office that they will never afford a home unless they buy NOW…. HERE IS A SIGN

24. When one of those employees, who did buy, has 5 (maybe more?) other co-workers move in with him so he can make the payments…. HERE IS A SIGN

[(former)FormerSanDiegan]

25. When you spend 10 hours a day on Bubble blogs … HERE IS A SIGN

26. If you know what an expert sign spinner is … HERE IS A SIGN

27. When the Santa Barbara Million Dollar Home Raffle is a 2-Bedroom 700 sq. foot cottage on a 5K sq foot lot … HERE IS A SIGN

28. When you have to keep re-editing your response to this post to re-number your comments … HERE IS A SIGN

[waiting hawk]

29. Bad news is I just lost more equity today. Good news is
I just saved a bunch of money by switching to Geico.

My website tracking Temecula and South Riverside County

[Carlsbadliving]

30. When my neighbor down the street (the construction worker) has an Escalade and a Mercedes suddenly appear in the driveway.. HERE IS A SIGN

[Chrispy]

31. When Home Despot and Lowe’s are backed up with shopping carts all the way to the parking lot….HERE IS A SIGN

32. When your mortgage broker has a virtual office and you meet him at Starbucks to sign loan docs….HERE IS A SIGN

33. When interest-only loans start making sense…HERE IS A SIGN

[SD Transplant]

34. When most flipper/investor ask for advice from renters….here is a sign

35. When foreclosures make up most of the RE sales……here is a sign

36. When RE brokers, agents, appraisers are experts in short sales, foreclosures …here is a sign

37. When Freddie & Fannie are insolvent….here is a big sign.

38. When a flipper is happy to have his/her house approved for a short sale & just walk away…here is a sign

[SD Transplant]

34. When most flipper/investor ask for advice from renters….here is a sign

35. When foreclosures make up most of the RE sales……here is a sign

36. When RE brokers, agents, appraisers are experts in short sales, foreclosures …here is a sign

37. When Freddie & Fannie are insolvent….here is a big sign.

38. When a flipper is happy to have his/her house approved for a short sale & just walk away…here is a sign

[SD Transplant]

34. When most flipper/investor ask for advice from renters….here is a sign

35. When foreclosures make up most of the RE sales……here is a sign

36. When RE brokers, agents, appraisers are experts in short sales, foreclosures …here is a sign

37. When Freddie & Fannie are insolvent….here is a big sign.

38. When a flipper is happy to have his/her house approved for a short sale & just walk away…here is a sign

[SD Transplant]

34. When most flipper/investor ask for advice from renters….here is a sign

35. When foreclosures make up most of the RE sales……here is a sign

36. When RE brokers, agents, appraisers are experts in short sales, foreclosures …here is a sign

37. When Freddie & Fannie are insolvent….here is a big sign.

38. When a flipper is happy to have his/her house approved for a short sale & just walk away…here is a sign

[Author]

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