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ParticipantUmm…yeah. Jawbone, you pretty much proved my point. Touch a nerve did I?
Take a breather and go back and read exactly what I wrote and you will see that it was not that brazen.
You don’t like realtors. We get it, but coming into the forums and flailing about saying things like SD realtors are nothing more than legalized crooks is just nonsensical.
For the record, I am not a realtor.
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ParticipantTake it easy on the flaming in the forums.
When you say things like:
“It seems like San Diego Realtors are nothing more than legalized thieves and con artists.”
you demonstrate to the readers that you are not capable of analytical thought or that you lack objectivity. Statements of hyperbole and conjecture actually bring the quality of the threads down.Don’t misunderstand me, I am very suspicious of Realtors and the industry itself but I do acknowledge that there are a great many more good realtors vs. shysters, con-artists, etc. Now more than ever it is vital to hold a realtor’s feet to flames to weed out the amateurs from the honest ones. And the only way to accomplish this is for one to do their due diligence by asking a gazillion questions.
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ParticipantListening to people on the news whine about oil prices and oil company profits is akin to someone complaining about politics when they don’t vote.
I have sympathy for the small business that get pinched by rising gas prices but not to many other people.
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ParticipantIf was going to entertain any expert advice from a realtor, then the least they could do for me is use a spell checker for their documents.
Grammatical errors within official documents deomonstrates to me nothing more than a lack of professionalism. No matter if that person is from Kansas or (insert country here).
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April 28, 2006 at 9:15 PM in reply to: Mexico Legalizes Heroin, Cocaine, Marajuana..SD Real Estate affected #24745Participanthuh?
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ParticipantHA!!!
you think getting ribbed by people at cocktail parties or by friends or the occasional smug homeowner is bad try to imagine the assault coming from the family unit. I have gone weeks without talking to some of my family members because they just keep hammering about when I plan to buy a house.
grrrrrrrrr…….
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ParticipantSoCalMtgguy from “another F’d borrower” was predicting the introduction of 40 yr. loans last year. Therefore, to see a 50 yr. loan is not surprising.
This totally makes sense because there are a great number of people who are still fixated on monthly payment rather than actual debt. Car dealerships have been offering 5 to 6 yr (even 7 yr in some cases)finance options on the purchase of new cars. Who wants to take 6 years to pay off a Honda Civic!?
For 30 somethings like myself, I don’t want to be 70 or 80 yrs old by the time I pay off my house. Good lord….
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ParticipantI posted early in this thread (pg 1) regarding the lack of sold signs in my complex and the increased in number of for sale properties. The original number I posted went up from 7 to 9 properties. A sold sign finally appeared on one of the newly listed properties. But here is an interesting twist (at least to me):
The agent who sold this property was selling 2 in the same complex with the same floorplans with the same “partial” ocean views. From the front door of one property you can look up and see the other property.
Question for sdrealtor:
would you cannabalize your own market in this way? The two properties are identical in floor plan (condo complex) but one has a slightly better ocean view because it is around the corner and slightly more elevated.A bit off topic, but to me unless you have a completely unobstructed view of the ocean (no homes, trees, freeways, etc.) from your house then ocean views are highly overrated. I consider ocean views as that little extra bonus but not something I would be willing to pay a premium to have.
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ParticipantI completely agree. The owners/operators of Zillow have stated many times over that Zillow and the Zestimate are still in beta phases of development. With time, their algorithims will become more precise as more data comes their way. I absolutely don’t bother with the Zestimate. Sales history is laid out right in front of you for free. There is a 5 Bd/3 ba house with a partial ocean view down the street from me. The house is up for sale TODAY in the range of 930 – 950k and the sales history goes something like this:
Sale History
12/15/2005: $930,000
08/29/2003: $690,000
09/26/1997: $303,500See? The zestimate is somewhat irrelevant at this point because it doesn’t really matter what the comps are nearby because there is nothing to justify why this house gained 240K in “equity” in just 2 years (2003 sale to 2005 sale). did they install gold countertops in the bathroom!? by the way, do you think whoever tried to flip this million dollar pig is getting hosed or got hosed right now!? They paid 930k a few months ago and it is now on the market (AGAIN!!) at 930-950K.
I know home sales and property taxes are a matter of public record but i wouldn’t know where to begin to find out that kind of information but it is my suspicion that it involves the local municipalities and fees. but now, thanks to zillow, i get the sales history and property taxes (based on assessed value mind you) all with a couple of clicks for FREEEEEEE!!!!!
the realtor of this particular home i pointed out just had their legs cut out from under them because they would have a very, very difficult time justifying the price of this home based on the sales history that was made available to everyone for free.
oh and by the way, did you all know the guy who started zillow also started expedia? travel agents still exist but they had to totally reinvent their business model to compete.
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April 17, 2006 at 10:08 PM in reply to: UT Sunday Home Section article “Is there a buble? Do the math” #24315Participantoh and one more thing:
if you think the RE is/was crazy in San Diego these past few years, then I have some stories about RE in SF that are absolute whoppers. That place is a loony bin.“End of line.”
April 17, 2006 at 9:55 PM in reply to: UT Sunday Home Section article “Is there a buble? Do the math” #24314ParticipantSubmitted by BostonAndOC_RE_… on April 17, 2006 – 5:32pm
“At the end of the day, its all about jobs, and OC and SD are sorely lacking in high paying professional job creation.”
exactly…..and this fact alone will bite many people in the arse as RE corrects itself.
The Mrs. and I moved down here from SF a couple of years back for a change of lifestyle and for new work opportunities. We are both college educated and we knew before coming here we were going to take a pay cut. In my field, without an advanced degree (PhD) I cannot exceed past a certain point both professionally and in salary. But this doesn’t bother us because we moved here to raise our family where there is a sense of community; something that was sorely missing from the Bay Area. SF is an absolute sewer, but I digress….
I am at peace with the reality of my career advancement because for the most part I make decent money and I do receive benefits such as stock options, 401k, insurance, and I enjoy a flex schedule. It sucks that the both of us have to work in order to “afford” a house and pay the bills but fortunately for us we have money working in the market that isn’t solely tied to our 401k’s. We save, we pay cash, we go out to dinners, etc.
So where am I going with this? No job is safe and I have always felt that you need to keep the skill sets sharp so you can be ahead of the curve in the working economy. Lately I have been contemplating a career change. I am leaning towards an advanced degree (MS in CS) but I have been hesitant because so far it would be a costly investment with an uncertain return in the fields I would like to go into. For the things that interest me now, an advanced degree would be mostly overkill or I am looking to work in very tiny, niche markets. In the Bay Area I would have almost limitless opportunities but it just isn’t the case here in San Diego. San Diego is desperately lacking in high paying, highly skilled jobs that bless places like the SF Bay Area. They exist of course, just not in the numbers that can adequately justify the current RE prices for San Diego county. I could be wrong about the job market (most likely) but at least that is the impression I have received by perusing the sunday employment section and company websites. And it is definitely the impression I have received by talking to my friends and colleagues who are in similar situations.
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ParticipantI know one thing with great certaintity:
Rich has potentially saved me and the Mrs. a boat load of money. I say this not because I am delusional about timing the market and hoping to buy at the bottom but rather I am now much more informed and thus less likely to fall victim to toxic financing and/or overbidding for an overvalued home.The Net is chock full of real estate bubble blogs but very few of them actually inform, inspire, and make the real estate industry sweat the way The Econo-Almanac does for the San Diego area. Your day will come shortly, Professor, when your work hits the mainstream. only then will you truly make the Learah’s of the real estate industry sweat. Actually, Learah IS the industry….but I digress. It’s kinda’ prohpetic when you consider that the national media views the San Diego real estate market as the proverbial canary in a coal mine and the Professor was the first to say (with unbiased, objective data to boot!) “Hey, this canary is coughing up blood!”
I would like to add one last thing:
if you don’t like Poway posting so much, then by all means step up and post to the forums!!“End of line.”
ParticipantWHOA WHOA…..let’s get back to civility, please.
First, PowaySeller, I have found your posts to be very enlightening and informative. Judging you (strictly by your posts), I get the impression that you are a very honest and a decent person. In no way am I trying to suggest that everyone else is not as honest or decent as Poway; I am merely pointing out my amazement at all of the personal barbs directed towards Poway.
SdRealtor:
I mouthed off recently (you called me smarmy) and you called me on it by showing me how to use current inventory with respect housing sales to calculate supply. Now, you have been caught with your hand in the proverbial cookie jar by looking up Poway and posting incorrect information (which was creepy, by the way). How does the humble pie taste? Regardless, please accept my apology to you SdRealtor for mouthing off.What this thread has shown me is that is all too easy for us to take persoanl jabs at one another because we can remain relatively anynymous? (I’m too lazy to open a dictonary, sorry). We all live here and we are all neighbors and we all have some things in common:
we are obviously bright, educated (street smarts and book smarts), we question what we read in the paper and we are looking for some thoughtful analysis.In closing, I would like to add…
Poway, in no way should you ever, ever, feel guilty for selling your house for whatever price. Don’t. Unless you sold your house to an unwitting young couple with an infant then I could understand your guilt but for the most part people make foolish decisions with their money every day in every corner in every market.SdRealtor, right now realtors are getting hammered on all of the blogs so unfortunately despite your good intentions I think you can expect the occasional flame from some random hotheads. I hope you keep posting because this site needs the diversity.
Last, you can’t even begin to imagine how creeped out you would REALLY be if you knew how much of your personal info is out there for anyone to see at anytime for a small fee. It is truly frightening.
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Participant…
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