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August 17, 2006 at 6:26 PM in reply to: The Real Story Behind the Los Angeles County 6.6% Median Price Increase #32225
VCJIM
ParticipantI’ve heard boats are great investments and never lose money. Especially sail boats. I’ve also heard that upkeep is minimal. Sounds like the housing market, eh?
VCJIM
Participantsmfj, that is interesting! I would not have expected the difference to be that large. I’ve always thought of VC as kin to SD; both relatively close to LA but distant enough to not BE LA.
VCJIM
ParticipantWe have had a ton of new construction in Ventura County. I suspect that is the main reason our median is so high. I also suspect we have a much stronger employment environment; there are many high-tech companies here. Beyond that, a lot of people commute from V.C. to the San Fernando Valley, West LA and downtown. In my area, it is very difficult to buy ANY house for less than $500K, but that situation is improving daily.
VCJIM
ParticipantWhat category do you think I should put it under? Housing?
VCJIM
ParticipantDamn!
VCJIM
ParticipantSD Realtor,
I appreciate your posts, although I have one criticism about your last one. While you’re decrying lack of intelligence of some realtors, you’ve mispelled “their” twice! Sorry, I couldn’t help myself.
VCJIM
ParticipantAsianautica, on $500,000 that 1/2% = $2500 / year. As it compounds, that makes a big difference.
VCJIM
ParticipantHey, I built my own storage shed using one of those books! It was really fun!
VCJIM
ParticipantYes I am : )
VCJIM
ParticipantI agreee with NCJim (no relation to me); what is the point? Move on with your life and leave others alone.
VCJIM
ParticipantIf they can flip them fast, it may work out ok but it will be very risky.
VCJIM
ParticipantYes, but it will take some time. I personally don’t look to the degrees a person has, I look for the intelligence in their statements. There are a lot of PhDs that never produced anything worthwhile on this planet, and plenty of high school dropouts that produced a lot.
The main thing is for you to decide what you want to produce in this world, and work back from there.
VCJIM
ParticipantSo quit bitching and do it.
VCJIM
ParticipantI guess I am somewhat expecting that investors will try to pick up NOD properties for a song, but I don’t know. If that were to happen, actual foreclosures would not rise rapidly, which is clearly not going to be the case. I’m just thinking this through out loud (in writing); it still doesn’t make sense to buy a NOD property if the values are declining rapidly, the profit margin isn’t there.
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