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August 18, 2006 at 2:53 PM in reply to: Iraq is like the housing market – but not like you think #32353
speedingpullet
ParticipantSadly, this week all other news is subsumed by the most important story in the Whole Wide World…the capture of the (possible) killer of JonBenet Ramsey. Two days of wall-to-wall ‘coverage’ (ie specualation) on some guy in Thailand.
I mean no disrespect to the Ramsey family, and its not as if they haven’t had enough tragedy in thier lives recently. I’m glad for them if they manage some kind of closure over this.
But:
War in Afghanistan
War in Iraq
Shaky ceasefire in Lebanon
Worst oil spill since the Exon Valdiz in the Mediterranean
Syria and Iraq rattling sabres
North Korea possibly testing a nuclear bomb
The UN getting tough
Racial slurs caught on tape from both sides of the aisle
The White House battling with the Feds about US phone tapping
House prices tanking…these are the things I’m interested in.
CNN has spent two days rehashing old 1996 stories, talking to Joe Schmoe on the telephone, making #hit up and generally going to @ucking town on the JBR case, while the rest of the world goes to Hell in a Handcart.
All media is biased. Its best to get your news from as many different scources as you can, and make up your own mind.
ParticipantAh, mate, yer ‘avin a giraffe…..as they say down in Sarf London
After noticing this bijou residence yesterday and laughing, the sellers have decided to keep me in hysterics today as well:
MLS# 06-122395
built – 1902
900 sq ft
1900 ft lot
LP – $949K
DOM 2So, looking on Zip this morning, I notice the above has had a price INCREASE!
Yes, this house, sitting on a lot smaller than most SFRs, after 3 whole days on the maket is now listed at a cool $999,000.
That’s over $1,000 a square foot in real money.
This one is a total keeper.
ParticipantI’m with you there PerryChase.
When the US first went into Iraq, I made the mistake of disagreeing with somebody about the ‘reasons’ behind it.
Oh.My.God….I seriously think the guy I was talking to would have shot me if he’d been able to. As it was, our co-workers had to seperate us…well him from me, anyway. I won’t go into the names and epithets he threw at me, except to say that my way of thinking was very ‘unpatriotic and unamerican’…
That was my first introduction to poltical ‘discussions’ over here. Now I normally keep my mouth shut – which is difficult for me.
Growing up in England, you’d quite often have an ‘argument’ – ie a discussion with another person who did not share your own views – that would be interesting and exhilhirating – views would be exchanged, hopefully each side would learn a little bit about the other’s, and after agreeing to disagree it would be time to get another round in 😉
Over here, I often find that my viewpoint is left of Stalin’s. My own fault for living in ‘socialist’ Great Britian, i guess. Consequently, due to my leftist leanings, and the lack of debating skills of many people here (present company on Pigginton’s excluded) I try not to open my mouth when things get ‘hot’. Being a card-carrying agnostic, I find the religiosity in the States both baffling and a little bit scary, as most of the UK has no religious leanings at all.
As for third/fourth/fifith political parties…you win some, you lose some.
On the other side of the spectrum, you get the kind of mess that plagues Italy and Israel – new parliaments almost every year. Proprotional Represtational politics is even more bloody than a two-party state, as you need to woo other parties to your ‘side’ in order to have enough representation to govern.
The UK almost makes it with three parties – Labour, Conservative and Liberal. however, Liberals have not had a good run of it in the last 50 years or so, so for all intents and purposes the main choice is either Labour or Tory (Conservative).
I wish that the parties over here would actually make a stand for what they think. So much time on both sides seems to be taken up with trying to cuddle up to the middle ground. Republicans and Democrats are now so similar in ideology that its hard to decide which party to vote for. Democrats seem to want the same electorate as the Republicans, and will throw away any signs of ‘leftist/socialst/liberal’ leanings, in order to be exactly like thier Republican counterparts.
My feeling on the coming vote is….’meh’.
ParticipantThanks sdrealtor.
I’ve been back to the LA county website, but have had no more joy than I did the first time.
Basically, I’m just going on the zoning codes that are shown on ZipRealty.
You’d think they’d have a glossary for the hard of hearing, if they’re going to use the codes in the first place..[sigh]
ParticipantOne of my friends in the UK just bought a condo in the lovely OXO building in London’s South Bank using a 50-year mortgage.
As he’s in his mid-40’s we all just had a good laugh about it, him included. He has absoutley no intention of living there for 50 years, but the rate was good, and they seem to be gaining popularity in the hyperinflated London housing market.
He’s not an FB either – he just sold his SE London flat for a fortune, and it was cheaper to do a 50-yr than get an I/O loan, so I have no doubt he’ll be fine when London prices tank (which they will, eventually).
ParticipantThanks lindismith!
I’m also of the opinion that this is definately a SoCal (if not West/East/National) phenomenon. While San Diego has its own unique style of ‘bubble’, its not that far away, and is undoubtedly the forerunner of how things will pan out here in LaLaLand.
I’m keeping an eye on a lot of different SHRs in quite a wide area of Westside/Topanga/South SF Valley and am starting to see quite a few reductions.
Still, i get a giggle out of stuff, like this little beauty:
built – 1902
900 sq ft
1900 ft lot
LP – $949K
DOM 2OK, it is West Hollywood..but I’ll still keep it my ‘saved houses’ on Zip, just to see how it goes..
ParticipantAwww…please?
Wierdly enough, there doesn’t seem to be a blog that deals with the northern part of LA/Westside/Sth SF Valley.
Bearmaster’s fine South Beaches Blog
http://sbbeachbubble.blogspot.com/
is very good, but still doesn’t cover all the areas I’m interested in. So, as long as I behave myself, can I stay please, please?
Ok, I could start my own blog, but I have neither the expertise nor the time to do it myself.
ParticipantI’ve only managed three so far:
one – ‘soft landing’
two – ‘sort of soft landing, but not really sure’
three – ‘yikes!’OK, the last one was influenced..I’d directed him towards Piggintons the day before!
And, of course, this is L.A…
ParticipantCool – thanks for the advice!
While a little conflicted now, I do understand not to ‘throw the baby out with the bathwater’, as they say in the UK 😉
My main worries were safety, and how much property taxes would be raised once the correct sq footage was known.
Still as you all point out – few people would buy a place without a thorough inspection – if the addition is unsound (or too ugly to live) then you can always make the sale contingent on it being ‘fixed’.
But – its pretty amazing the amount of SFRs here in L.A that have something tacked on to them.ParticipantVerrry Ineresting…thank you both so much for that info.
I guess my question, now, is more general – how on earth did these places get sold previously with no/inadquate permits?
Was this another symptom of ‘irrational exuberance’ in the housing market?
Was everyone so desperate to buy that they just ‘ignored’ the extra sq footage , in order to ‘buy now before you’re priced out’, or ‘get in quick, before you’re outbidded’?I can understand a seller not wanting to declare it, as they’d incur Property Tax, but how on earth did they sell it on?
Would a buyer not just move on to the next house on thier list once the additions were shown not to be ‘proper, “Seller’s Market” or not’?Scary – especially in earthquake-prone CA.
Wow, so much to think about when buying….0_o
ParticipantThanks Powayseller!
As I suspected – unpermitted additions would normally be more trouble than they’re worth.
Yes, maybe its an L.A thing, but quite a lot of the SFRs I’m looking at have non-permit additions.
Trying to squeeze the very last drop of ‘equity’ by adding another bedroom in the garage, etc. 😉So – if I was to consider a place with one of these unpermitted additions, I’d be within my rights to make the sale contingent upon the seller getting the correct permits? No permits, no sale?
Good info to know – I wonder how people got away with it during the bubble…
hehehe, just answered my own question!
ParticipantI’ve yet to see any comments at all on Zip!
I check some of the ‘older’ houses on my list, as they’re more likely to have had a viewing, but all that happens is I get sent to a blank page…
Participantsorry, double posted
ParticipantOff topic:
Is that why English food is so bad? I always wondered…
LOL!
Yes, and if a vegetable isn’t boiled for at least two hours, then its not cooked properly 😉
Actually, the UK has had a revolution in cooking habits over the last 2 -3 decades. Its probably all those Gen-Xers sick reacting to the Spam fritters and boiled brussel sprouts that thier parents made them eat.
Its even possible to eat out now, without having to take out a mortgage to pay for it.I think its one of the many benefits of having immigration – people from other countries were so disgusted with our food that they settled there and opened restaurants and delis, thereby showing the British that nice food is actually possible.
Although, having said that, the concept of “British Cuisine” these days is very flexible – Chicken Tikka Massala (Indian) is actually the Nation’s Favourite Dish. -
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