[kiki]

"I suggest we start each new response with the mindset of "Thanks for sharing that and participating in this forum. I invite you to consider my point of view…"

docteur – i couldn't agree with you more!

PoppaKoppa, thank you for your response. I went to the site, but to see answers on the topics i am interested, the site ask for too much personal information. i do not want to be called or contacted.

At this point i prefer to get information from forums like this one. Where i can see different points of views so i can make my own decisions. Waiting hawk asked what is a realtor doing in this forums. I think (notice this is my opinion not necessary a true fact) that a good realtor wants to know the demand trends and psycology. They know the market and short/mid term demand (people that contact them thru websites, referrals, etc.) but by participating in these forums they could get a look in to a group of people that could be a buyer but are not. That adds another factor they should consider to develop their job strategy. 

In that sense, i find it great that realtors, appraisers,etc participate here as well so we can learn from their experience and the insight knowlegde on the market.

Again this is why i like these forums as opposed to websites with only RE agents view or only bubble believers view.

Back to PoppaKoppa, as i mentioned before i am not even sure i want to live in SD long term so the "HOLD" in "Buy right, finance well and hold" is what i cannot garantee.

separate comment

"If a seller's total net worth is lower than 10% of the "NEW, LOWER MARKET VALUE" of their home, they must act early (best BEFORE DEFAULT) to qualify for Debt Forgiveness by their mortgage holder."
I still do not understand this "debt forgivenes" programs, If someone makes a bad decision, he/she have to deal with the consequences. I understand if lenders give program to help refi the debt, but forgive the debt is what i do not get.

[kiki]

I guess that you all correc.
->There is no rush to buy
->And forclosure to impact prices are going to take a W..H..I..L..E

********** Off topic *************

To be honest, what i am really debating is whether i should stay in SD or not. My husband and I have no family here. I happen to find a job that i thoughr i like here and my husband followed me in my decision.

But after close two years, we see that yes “weather is nice” but salaries are not high enough to cover for housing and allowing decent living and saving. I have to admit i get jealous, when our friends talk about houses they are buying and we are thinking “why do we stay here”, “why not move to Seattle, Mineappolis, Dallas, where ever” where i) we will not have to pay “Sunshine tax”..i.e.”low salary” and ii)we can own, get tax credit, get low interest rate.

I read on another blogs and i know from friend trying to convince us to move that with our qualifications we can expect at least a 15% raise increase on another state for the same job we do here.

**********************
Back to my question,

All i can say is : “Hello everyone!, my nickname is Kiki and i am a housing-bubble-blog reader addict. heck i am oversees now for work (its 4am – and can’t stop reading about this). Even worse, and my husband warned me, i am starting to participate in the forums!! If this is not going to change in years, should i be torturing myself?

…I guess i am not ready to drop it yet. Looking forward to learning from all of you! Thanks for your reply.

[kiki]

sorry, my last posting did not post complete. I put my question on another thread. Looking forward to hear your points of view.

[kiki]

my two cents on all this discussion. Does not have any valuable RE related insight so skip it if you want.

i usually find that PS exagerates and take comments to personal but i think she is very smart and i learn a lot from her comments and research. I just take what i consider relevant and ignore the rest.

For example, in my opinion i do not know how someone with few years of experience could be mentor. I do not disagree that Bob may be smart but i usually look for more experience people for mentor. It does work for me but if it works for her (i am sure many others) great. I respect that.

On the other side, i respectfully disagree on the comment that Bob is wrong by selling his listing to 100%. Any agent that wants to sell a house will sell it to anyone wanting to buy. I am sure no agent will say to the potential buyer of his/her listing “hey, don’t take my house with this financing because you will be screwed in a few years”. If you work for a buyer you will make sure he/she know the risk on buying now but if you are on the sellers side, there is so much you can do. Also, working for Mktg VP on great companies does not make a person good or bad. In case of SDR I think he is a good realtor (based on this comments ) and his current success is what backs him up, not because he worked for smart people.

I am hispanic and i am not offended by SDR mentioning that people in this group are taking suicide loans. If you are showing a fact, then is a fact. I am sad that this is happening but it is what it is.

I love Jim the realtor take on the data. I think how some realtor report (median price) is what is wrong. He shows analysis on actual transaction (active/pendings, $/sqft, appreciation rate).

I would like to kindly suggest people who participate in the forums to post your points of view in a way that does not attack another member on the board or outside, for example “I personally like XYZ because A, b and c..” as opposed to “you are wrong and i am right and this is why”. For some realtor web works, for other don’t. For some working with buyers only work for other don’t. For some buyers internet is all they will use, for others (like PD’s mother) don’t. every person is different. Share your views but respect other opinion’s as well.

my two cents.

Changing the subject. I may open a new thread for this. I really want to buy something (I hate living in a apartment and want to save as much possible

[kiki]

baased on this site, Nov05 was highest median price: $598K.
What is strange is this site shows May were up ($595K)

http://rereport.com/sdccsd/

[kiki]

good question. I never thought about that. I do not know. One position could be as you say that people will only be able to buy very old cars, but on the other side, people that now are buying new cars won’t be able to buy new car anymore so demand of used cars will be high. However, I am not sure how will supply be. Maybe all this people that can not pay their mortages will start selling their cars driving supply up therefore driving prices down.

Tricky question. i do not know. Anyone has opinion/thought on this?

[kiki]

The discount is compound:
If price today are 100,
first year 6% drop is 94% of 100 = 94
second year 6% drop is 94% of 94 = 88.36
..
sixth year 6% drop is 94% of 78.07 = 73.39

from 100 today to 73.4 in six year: 26.6% drop

or 1 – (0.94)^5 = 26.6%

[kiki]

I would recommended before selling your truck that you do a calculation of how much you will get for the car minus the price of the old truck you will buy and additional maintenance cost you will incur.
I bought cash a Toyota Camry last year. Before moving to California I swore never to buy a new car because I could buy a one or two year old car and not pay the premium. But when I moved here and had to buy a car, all the old cars were really expensive considering the mileage they had. Cars were selling for $14K with 50K-60K. I manage to negotiate the price to the dealer and paid $18K for a brand new car. I figured I can put the 50K miles to my new car and that will cost me $4K only.
I also look older cars (10years old), but they had 200K-300K miles. Chances I will need to put money on them are very high so that did not work out for me either.

You said you can get $15K but how much do you think you will put into maintaining the car in the next 5 years? $3-$5K maybe? Then is $10K extra money better for you than having a nicer car? This is your call.

You mentioned if this is a good time to spend money. I think the problem is not today or tomorrow or yesterday but if you are spending beyond your means (like using HELOCs to pay for luxury items). This is clearly not the case for you. So the best time for you to spend or not your money really depends on what your long term plans are and your financial situation. If you can afford it and have a plan for your future then I think you are ok. If you used all your money to pay for these 2 items, then you may want to analyze how this affects for future plans.

As novice1027 said, There must be a balance in our lives. I think about the future but I also put a weight on what makes me happy today.

Anyway, my two cents.

[kiki]

I have been reading this blog for a while now. I am a renter hoping prices will go down. I consider the postings in this forum very interested and I like that I can get points of view of sellers, buyers, agents, appraisers, wealthy people, not so wealthy, etc. With these info I will make my own decisions.

However, as sdduuuude mentioned, it is really getting silly this back and forth between PS and SDR. I am a woman and i never felt offended directly by sdr comments. PS, You get too involved that you misread/ misinterpret his comments (emails and blogs tend to be impersonal – the same line can be interpreted different )

I must said mentioning about his wife or him being happy or unhappy just puts you at the low level you claim he is.

Pleaaaasseee, if you do not like his comments, just ignore him, or shout out loud in your house, but do not write an aswer back that will only put more fire in an issue that will go nowhere. We are intellingent people and when sdr or any other person make an inappropiate comment, be 100% sure that we will notice and will have a opinion, we just not need to write it down.

Let’s keep this great form. I think you are a very smart person and find your posting very interesting and i am glad you came back but please, please stop it with non-market related comments.

[Author]

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