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December 20, 2007 at 9:14 AM in reply to: The often asked question, when will housing bottom? #121332December 20, 2007 at 9:14 AM in reply to: The often asked question, when will housing bottom? #121476
Cow_tipping
ParticipantMy thought is, if it doesn’t bottom till 2012-13, it will not bottom till 2050 or so. Because “retiring baby boomers dumping their build in the 70’s shitboxes filled with lead and asbestos to ‘fund their retirement’ will effectively make a house worthless”
However, that really applies to places that have opressive weather – like Minnesota, insane retiree taxes like CA etc etc …
But if you think about it, SD and LA may have the retirement thing going for them, OK weather, available under class to do jobs they cannot, and I know commutes and smog are crazy, but lets face it, retirees wont be doing commuting. Essentially if its a retiree magnet, and doesn’t have a large pool of aging homeowners (who’d be dying) it can be OK after 2015. I however believe they will first try to sell and get out to New Mexico or somewhere where they can live off the $$ form sale of the house.
Anyway, 2012 for recovery, or 2050 is going to be the trend for most of northern US. Does CA buck the trend, IMHO, too close to call. Is CA northern or southern ???
Cool.
Cow_tipping.December 20, 2007 at 9:14 AM in reply to: The often asked question, when will housing bottom? #121502ParticipantMy thought is, if it doesn’t bottom till 2012-13, it will not bottom till 2050 or so. Because “retiring baby boomers dumping their build in the 70’s shitboxes filled with lead and asbestos to ‘fund their retirement’ will effectively make a house worthless”
However, that really applies to places that have opressive weather – like Minnesota, insane retiree taxes like CA etc etc …
But if you think about it, SD and LA may have the retirement thing going for them, OK weather, available under class to do jobs they cannot, and I know commutes and smog are crazy, but lets face it, retirees wont be doing commuting. Essentially if its a retiree magnet, and doesn’t have a large pool of aging homeowners (who’d be dying) it can be OK after 2015. I however believe they will first try to sell and get out to New Mexico or somewhere where they can live off the $$ form sale of the house.
Anyway, 2012 for recovery, or 2050 is going to be the trend for most of northern US. Does CA buck the trend, IMHO, too close to call. Is CA northern or southern ???
Cool.
Cow_tipping.December 20, 2007 at 9:14 AM in reply to: The often asked question, when will housing bottom? #121554ParticipantMy thought is, if it doesn’t bottom till 2012-13, it will not bottom till 2050 or so. Because “retiring baby boomers dumping their build in the 70’s shitboxes filled with lead and asbestos to ‘fund their retirement’ will effectively make a house worthless”
However, that really applies to places that have opressive weather – like Minnesota, insane retiree taxes like CA etc etc …
But if you think about it, SD and LA may have the retirement thing going for them, OK weather, available under class to do jobs they cannot, and I know commutes and smog are crazy, but lets face it, retirees wont be doing commuting. Essentially if its a retiree magnet, and doesn’t have a large pool of aging homeowners (who’d be dying) it can be OK after 2015. I however believe they will first try to sell and get out to New Mexico or somewhere where they can live off the $$ form sale of the house.
Anyway, 2012 for recovery, or 2050 is going to be the trend for most of northern US. Does CA buck the trend, IMHO, too close to call. Is CA northern or southern ???
Cool.
Cow_tipping.December 20, 2007 at 9:14 AM in reply to: The often asked question, when will housing bottom? #121575ParticipantMy thought is, if it doesn’t bottom till 2012-13, it will not bottom till 2050 or so. Because “retiring baby boomers dumping their build in the 70’s shitboxes filled with lead and asbestos to ‘fund their retirement’ will effectively make a house worthless”
However, that really applies to places that have opressive weather – like Minnesota, insane retiree taxes like CA etc etc …
But if you think about it, SD and LA may have the retirement thing going for them, OK weather, available under class to do jobs they cannot, and I know commutes and smog are crazy, but lets face it, retirees wont be doing commuting. Essentially if its a retiree magnet, and doesn’t have a large pool of aging homeowners (who’d be dying) it can be OK after 2015. I however believe they will first try to sell and get out to New Mexico or somewhere where they can live off the $$ form sale of the house.
Anyway, 2012 for recovery, or 2050 is going to be the trend for most of northern US. Does CA buck the trend, IMHO, too close to call. Is CA northern or southern ???
Cool.
Cow_tipping.ParticipantIn regards to #4
4. For a home destroyed by fire, the Actual Cash Value is determined by market value (RE Appraisal minus the value of the land) or a rebuild contractors estimate less depreciation, which ever is greater.I am not sure if it has changed in the last 10 years, but the house this friend of mine bought in Pleasanton CA was assesed at 365K as value of the land, and 359K as value of the land + improvements. Now he didn’t even notice it till I pointed it to him and they said that his place is in a prime location and hence is rezonable into a retail and that means $$$, and the fact that his house is there is a disadvantage (in a more flowery language)
You burn that house down and the insurance company owes you nothing ??? probably, but you’d ahve a hard time explaining the crumbly house burning down all by itself.
Cool.
Cow_tipping.ParticipantIn regards to #4
4. For a home destroyed by fire, the Actual Cash Value is determined by market value (RE Appraisal minus the value of the land) or a rebuild contractors estimate less depreciation, which ever is greater.I am not sure if it has changed in the last 10 years, but the house this friend of mine bought in Pleasanton CA was assesed at 365K as value of the land, and 359K as value of the land + improvements. Now he didn’t even notice it till I pointed it to him and they said that his place is in a prime location and hence is rezonable into a retail and that means $$$, and the fact that his house is there is a disadvantage (in a more flowery language)
You burn that house down and the insurance company owes you nothing ??? probably, but you’d ahve a hard time explaining the crumbly house burning down all by itself.
Cool.
Cow_tipping.ParticipantIn regards to #4
4. For a home destroyed by fire, the Actual Cash Value is determined by market value (RE Appraisal minus the value of the land) or a rebuild contractors estimate less depreciation, which ever is greater.I am not sure if it has changed in the last 10 years, but the house this friend of mine bought in Pleasanton CA was assesed at 365K as value of the land, and 359K as value of the land + improvements. Now he didn’t even notice it till I pointed it to him and they said that his place is in a prime location and hence is rezonable into a retail and that means $$$, and the fact that his house is there is a disadvantage (in a more flowery language)
You burn that house down and the insurance company owes you nothing ??? probably, but you’d ahve a hard time explaining the crumbly house burning down all by itself.
Cool.
Cow_tipping.ParticipantSorry Cyphire, I am keeping my 3 La jolla country club houses as rentals and to park my 13 Rolls Royces.
I mean, I am getting wealthier by the minute you know, so sitting still they are making me tons of money.
Cool.
Cow_tipping.ParticipantSorry Cyphire, I am keeping my 3 La jolla country club houses as rentals and to park my 13 Rolls Royces.
I mean, I am getting wealthier by the minute you know, so sitting still they are making me tons of money.
Cool.
Cow_tipping.ParticipantThe wealthy gettting wealthier … ironically doesn’t translate into as robust a sales in high end properties. Why, overall they dont have much of their investment money tied in RE and dont like to do so, and even more importantly, they already live in the area, and they will not buy it just to sit it idle and will not buy to rent it.
For more robust RE sales in wealthy areas you need more people joining the ranks of the wealthy. When that happens, I’d buy the idea that high end RE never goes down.
Now lets see what do I do with these 2 unbelivably cool La Jolla houses, as we all know I live in the palace at La Jolla … I think I’ll rent them out. Yea … see that doesn’t even sound right.
Cool.
Cow_tipping.ParticipantThe wealthy gettting wealthier … ironically doesn’t translate into as robust a sales in high end properties. Why, overall they dont have much of their investment money tied in RE and dont like to do so, and even more importantly, they already live in the area, and they will not buy it just to sit it idle and will not buy to rent it.
For more robust RE sales in wealthy areas you need more people joining the ranks of the wealthy. When that happens, I’d buy the idea that high end RE never goes down.
Now lets see what do I do with these 2 unbelivably cool La Jolla houses, as we all know I live in the palace at La Jolla … I think I’ll rent them out. Yea … see that doesn’t even sound right.
Cool.
Cow_tipping.ParticipantSacramento was down 4% … OK tell that to the bank that loaned Casey Serin the 330K for the Larchmont house right ~ 1 year and 2 months ago and sold it last month for 199K.
Yup, its only 4%.
Cool.
Cow_tipping.ParticipantSacramento was down 4% … OK tell that to the bank that loaned Casey Serin the 330K for the Larchmont house right ~ 1 year and 2 months ago and sold it last month for 199K.
Yup, its only 4%.
Cool.
Cow_tipping.May 30, 2007 at 1:04 PM in reply to: 4S ranch Silhouette starts to sell model homes! will it stop selling future houses?? #55546ParticipantModels are also the worst locations in the neighborhood. Right in front of the whole neighborhood where every one driving in lights up your house – you’re on display type of thing.
Cool.
Cow_tipping. -
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