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rankandfile
ParticipantI think the social services have provided a “safety net” of comfortability since post WWII that has lulled us all into a false sense of security. There was a time when you ran out of money or times got tough, and you took what you could get and stuck with it (save, get re-educated, etc.) until you could move up. I am not so sure it’s that way these days.
Instead of the saying, “when the going gets tough, the tough get going,” we get “when the going gets tough, there’s some government program to bail you out.” If we can bring back the focus on personal accountability, we will be a much better nation in general.
ParticipantI would like to hear Bob’s input as I have a LOT to learn about this business. The namecalling, well, just let it slide and be thankful that Bob doesn’t have any brothers or colleagues names Neil.
Bob’s offer to provide accurate MLS data is commendible and should be highly welcomed by the members of our blog here. I’d like to take Bob’s offer a step further and offer to personally help him in creating an accruate, oomprehensive, public-access MLS database that anyone can see. Now if he is willing to go for something like that, he will be have the stuff made of legends. I am sure that there would be others in the blog that would also volunteer to help create the new MLS database…let’s call it OpenMLS.
The offer is yours, Bob? Deal or No Deal?
ParticipantI thought illegals only took jobs that Americans didn’t want, like picking lettuce and cleaning bathrooms? I wouldn’t classify construction jobs as being “beneath” us.
I particularly enjoy the classic rationale that they have families here, work hard, and show up on time…why should I ruin their lives by firing them and making them leave the country? Translation: “I don’t care how they got here or what their status is…I am making some serious coin off these people and they work like mules.”
Just replace the words illegal immigrants in these types of statements with any other law-breaking term, such as prostitute, and they don’t sound quite as convincing. Other lawbreakers use the same justification: I am just trying to provide for my family, I am not hurting anyone, etc.
In terms of the housing market, if these developers and contractors actually hired legal residents, maybe more of them could actually afford a home in the area they are building them. I take that back, they would have to pay the construction workers a heck of a lot more for them to afford to live here.
ParticipantI’m sorry I can’t give you personal experience from selling a home, but as an outside observer, it seems like you did the right thing and made your decision based on all the factors involved. Sure, it would have been nice to hold out and make $20K more, but that would have been very risky. The price of homes in that area have appreciated 2.5x in the past 5 years or so. Be thankful you did not succumb to emotion (or buyer’s stubborness) and sold while the selling’s not as bad.
PS: Would it be rude to ask for the address of the home you just sold? I’d like to check it out on Zillow.
ParticipantThanks for the info, powayseller, and I will take a look to see if I can find that realtor. I just find it strange that the prices for such a highly valued asset such as real estate are more or less secret. Stocks, bonds, gas, etc., all have benchmark prices that are based on open market transactions. One might say that home prices are also based on the open market. But is this true if potential buyers are being provided with only a portion of the available market, a portion that biased realtors want them to see?
Who would support or fund this? I would. It could easily be included as a public tax of some sort. Now, I personally hate taxes. But if it means I will pay the true market value for my home, rather than a smoke-and-mirror price, I think it would be worth it. The devil’s advocate will add that taxing everyone for this type of service is not democratic or fair because not everyone owns a home or existing homeowners don’t need it. But don’t we do this for freeways or other roads?
I know there are ethical realtors out there who will give me the straight scoop. Unfortunately, it’s hard for me to just “trust” this notion because, well, I guess I am just too skeptical a buyer. I would feel a lot more at ease if prices were based on a transparent, open market.
ParticipantI think powayseller made that comment more out of sympathy for those who are working hard trying to make it and just made some bad assumptions/decisions about how things were going to be in the future. It’s a lot better than rubbing it in and saying “I told you so” or “See, I was right”, which many of us on the outside of this bursting bubble might be inclined to do.
But the underlying premise, that wages are not keeping up with inflation, is very true. I guess that many thought their wages (or wages in general) would increase over time and they would be able to make it. But wages would have needed a rocket up their @ss to keep up with the inflated home prices.
Yes, even wages have @sses.
ParticipantAbsolutely classic! These people should be candidates for the Darwin Awards…or maybe that’s what they should change the show’s name to. Excellent post yoolkid. I particular like the comment about the 4 Direct TVs links and having only 2 TV sets!
ParticipantI guess it would be nice if the majority of the younger generation could afford a coastal home (let alone raise a family) in SoCal, but that is just not very realistic right now. So, they end up moving to places like Temecula, Murietta, the Inland Empire, etc. These places are nothing more than dessert within a VERY rough commute of major cities like LA or San Diego.
What I think has happened to many is that they think if they are going to be moving to a dessert, or otherwise undesirable (non-coastal) location, why do it in California? Why not move to Arizona, Nevada, Colorado, Georgia, Florida, etc? They are having to put up with the hot weather anyways. Might as well have a nice home with a big yard, and fewer taxes/regulations.
Unless you can live within a few miles of the coast and enjoy the weather benefits there, why stay in California?
ParticipantI don’t think that race should be a factor in education, but we must understand that it is. Historically, caucasian and asian Americans have performed better in school…period. If I am racist for saying this, so be it. But if I am a racist, why are there “race-sensitive” admission policies at universities? (http://www.hooverdigest.org/993/sowell2.html)
Why some groups perform better than others is multifold and can’t be readily discussed within the scope of this post. Suffice it to say that yes, some bright people will perform well no matter the environment. Some bright people will also perform poorly no matter the environment. In general, however, we are only as good as our competition. Higher academic standards and greater academic competition will tend to produce better pupils. I hit .457 one summer on my men’s league baseball team. Do you think that if you suddenly transplanted me into the Major Leagues that I’d achieve similar results? There’s a possiblity that I would, but it is highly unlikely.
In terms of buying a home, I would not buy a home in any place where I felt that they did not have a good chance to learn as much as possible, regardless of the demographics of the school.
ParticipantI hate the small lots, too. That’s one of the biggest reasons why I didn’t buy back around 1998-1999, just before prices really got out of hand. I couldn’t bring myself to live so close to my neighbors…close as in they can hear you if you are not careful.
HOA stands for Huns of America as far as I’m concerned. Yeah, I’m going to pay $250/mo to fund some blue hair driving around the neighborhood in a golf cart and fine me for having a stain on my lawn or driveway. Where do I sign up?
Don’t worry, supply and demand is always at work and we just have to be patient and not foolish enough to buy into one of these dogs with fleas…because that’s just what they are.
ParticipantI am not an expert, but similar to other advice given, it might be in your best interest to spend some money on a tax specialist. If you plan on buying something out of state, you might want to look into a local tax specialist/CPA as well. I don’t know if this is imperitive, but it might be worth looking into.
ParticipantHere’s a good article on cash and T-Bills.
href=”http://www.newsmax.com/money/archives/articles/2006/4/13/152237.cfmIt mentions that another benefit to investing in cash is its liquidity…you can get it back in a hurry if need be. It also mentioned that interest-bearing cash accounts actually outperformed the Dow for 20 years (1966-1986).
ParticipantWay overpriced IMHO. Yes, it’s a big house (according to specs) with some nice amenities, but it still has fleas. San Marcos is, well, San Marcos, the pool is an eye sore and a liability, and I don’t like the transformers cutting in the front yard. I’d be curious as to what easements are located there. I also think that the listed square footage is off. The master suite and living rooms don’t look all that big. And the backyard is tiny. I would pay between $300-$400 for a home such as this. I know, I know, you’re going to laugh me out of the room. It’s amazing how desensitized we have come that if we see $300K we think there is something wrong with it or it is a double-wide and made of aluminum.
ParticipantReducing these prices by $25K, $50K, or even $100K is a joke because they will still be overpriced. Yet, people will bite. It’s like when my wife comes home and tells me that she bought a shirt for $85 from Nordstrom’s. She justifies the purchase by noting that it was on sale and reduced from $160…for a shirt no less. I could’ve sworn I’ve seen that same (or eerily similar) shirt selling at Costco for $12.99.
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