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Chrispy
ParticipantThe comments really go south when the topic veers towards politics. I’ve seen a little racism crawling in too – sours the rest of the forum. Rich shouldn’t have to police the comments – this is something we can do amongst ourselves.
ParticipantThe reason I care about his porfolio is that I had been investing for a decade before he got started and his quick buy at the top of the market was a decision based on greed and haste. Same as his property buy.
It’s one thing if you carefully analyze investments and then make your move with deliberation and thought. I guess I got miffed because he acted like my caution was a waste of time.
He’s still looking for future investments!
ParticipantI can, PasFlyer. It is http://www.gilardi.com. Look under Shrestha vs. NRT instead of Coldwell Banker. You can call the 800# for a claims packet – I tried to get the documentation off their website but hit a snag.
Good luck! Happy days ahead!
ParticipantHe who laughs last laughs best. Back in late 1999, my then-boyfriend told me all about his recent purchases of tech stocks – and how he kept the NASDAQ as his home page so he could check his gains on a daily basis.
Two years later, he sold at a huge loss, and when I mentioned my earlier warning NOT to buy when everything was hot, he told me gloating was unattractive!
Just checked Zillow on his property – which he told me was valued at $900K last November. It’s now at $648K. I’ll keep my gloats to myself.
ParticipantPS, you brought up an excellent point. Not only are sellers going to get whacked by decreasing prices for their homes, but what a sinking feeling to have finally found a buyer and then to find out they don’t qualify for a loan!
Or – they do qualify, but they have to pay excessive fees for having “subprime credit” (what was good credit back when is going to look like bad credit soon). I see the potential for a lot of deals falling through for reasons above and beyond price.
ParticipantAnother point about using a Realtor – if you don’t, the realtor for the other side will end up doing a lot more work to get the escrow moving. Seems to me there’s a conflict of interest right there – he/she would most likely be in favor of helping his/her client instead of the person who wants to fly solo. As PS stated, Realtors can really help “unmuddy the waters” when sticky situations are encountered.
I think having a second set of eyes on a purchase of this magnitude (one who has been in the business long enough to know the ropes) is invaluable.
Participant31. 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
Participant21. 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
Participant13. 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
ParticipantSome Realtors will work with their clients on their commission spreads. Most people think Realtors are overpaid in today’s (or rather, yesterday’s) climate – they were getting raises every time a house price went up. To make twice or three times as much as five years ago for doing the same work (or less work, given the “must-buy-now” fear prevalent in the last couple of years) has not gone unnoticed amongst most of us.
When times are tough, the best Realtors will prove their worth. I hope this current bubble pop will eliminate a lot of the fringe element – those who jumped in the last couple of years with dreams of easy money.
ParticipantA $10K incentive works out to be .6% of the asking price. Barely more than half of a percent!
Chasing the market while trying to get attention with bogus incentives … ludicrous. I wonder if they already own that timeshare and would just transfer title to the buyer? That would get rid of two lemons in one transaction!
ParticipantIt depends what you do with it (salary and passive income.) I know some people who make well into the six figures who are drowning in debt. Then, there are others with more moderate incomes who always seem to have enough, if not plenty.
The savviest people don’t talk about how much money they make – even though this seems to be a constant cocktail party topic.
ParticipantA long time ago a boyfriend of a friend of mine said (about his girlfriend) : “She’s all looks and personality, and that’s it.”
It took me awhile to figure out that what was missing was depth. I think character and integrity is more important than looks, charm or being able to provide security – but if you get all four, no need to look further!
Participant1) Renting
2) Sold one in 2002, bought another, sold that one in spring 2004
3) Sold about a year early but didn’t care – wanted to get out of owning for reasons other than financial. Making money was a bonus.
4) Gut feeling was something was wrong but didn’t know the Prof back then
5) Would NOT buy back in either neighborhood – nothing against the neighborhoods, but want to discover a new neighborhood next time -
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