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Prices and Days On Market


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2008 Jan 13, 11:48pm   27,775 views  305 comments

by Patrick   ➕follow (60)   💰tip   ignore  

dom

Sale prices are always given as an absolute number, without context. The reality is that falling prices can be masked to some extent by a longer number of days on the market.

Getting $500,000 within a week of listing is not at all the same thing as getting $500,000 after having the house on the market for 2 years, yet both are recorded as the same price. Ultimately, you can pretend your house is worth whatever you want by letting days on market go to infinity -- just pulling it off the market. No one will buy it for your dream price, but you don't have to face the reality that it is not worth what you thought either. Assuming you can pay the mortgage.

Realtors know that increasing days on market proves that a house is not worth the asking price. That's why they commonly try to scam users by re-listing a house as if it just came on the market.

Patrick

#housing

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226   Malcolm   2008 Jan 16, 12:20pm  

I think some of it is the shallowness and indebtedness, the things I see influencing it the most is the constant redefining for special interests. Case in point, what is an American company? It used to be an American car was made here by a company headquartered here, and they competed with foreign imports. Now we have companies headquarted here calling themselves American companies but the factory is overseas. That's not an American company. I believe in the outsourcing model but not over international borders. If something is manufactured overseas it should be considered an import no matter where the company is. Yes I know the label says where it is made but it is still considered American when it comes to taxes and tarrifs which is why I have changed my mind on international free trade agreements. Another case in point, an American farm. We penalize the shit and outright ban imported fruit from Mexico. That is unless it is an American farm in Mexico.

227   Malcolm   2008 Jan 16, 12:21pm  

tariffs ~sp

228   Malcolm   2008 Jan 16, 12:37pm  

Someone here basically touched on the bastardization of IP. Knowing this country is under attack on multiple fronts, the jails are overcrowded, I get outraged going to a movie and seeing signs in the lobby saying you can go to jail just for taking a picture of the movie screen.

A girl just lost an appeal for a 250K judgment against her for downloading songs. Have you noticed the subtle change in the definition of a copyright violation? They have inserted the words "even for non-commercial" in the distribution section. This constant BS about music sharing now leaves libraries and car drivers with passengers potentially liable for music sharing. Even though songs are broadcast over public airwaves.
People who claim they want free commerce wasnt TV DVRs and remotes banned to force you to watch a commercial. Somehow now an advertiser has a RIGHT to force you to watch a commercial under this legal theory. I guess if I pay to send someone junk mail or spam, they have to read it.

My girlfirend recently paid a vet bill she did not owe because of the intimidation of damaging her credit report. Now even if you dispute it, you will still suffer damage to your credit because businesses somehow don't have to prove a debt in court anymore. I fear corporate oppression of my rights more than government oppression. I feal there are many checks we still have on government but somehow government outsources the bad stuff to corporations. Case in point, Verizon can't be sued for violating your privacy rights by submitting your phone records to the government even when there was no probable cause. Another case in point, food has to be labeled organic, how come it isn't the other way around, shouldn't the hormone treated, genetically altered, and pesticide laden food have to carry warning labels?

229   Malcolm   2008 Jan 16, 12:37pm  

So Peter, respectfully, yes I don't think the free market regulates itself.

230   Peter P   2008 Jan 16, 12:55pm  

Having your ISP block sites like Patrick.net could be a very real situation by the next presidential term.

Why worry about a bunch of loosers like us? :)

231   Malcolm   2008 Jan 16, 12:58pm  

I felt I got a very good education of a very flawed system in my MBA studies. The pure profit motives, and how drug companies test FDA boundaries with claims, and exploit populations of third world countries by testing drugs many times on unknowing people was very eye opening. The technical term for these people are "drug naievety" populations.

232   Malcolm   2008 Jan 16, 1:03pm  

They already do that in China. Google was recently investigated because one of the people it turned in from its search engine (again government outsourcing of tyrany) was actually executed. The downside, a little bad PR, but hey the stock was doing well.

I recently DVRd a piece on a third world country who was using their army to force locals to build a pipeline for Chevron. Those people protested being forced to work for no money at all and against their wishes. Well, one of them was shot dead. Chevron of course denied any involvement until a receipt and a Chevron payment check to the army was discovered.

233   Malcolm   2008 Jan 16, 1:04pm  

"wife with large brea$ts" They make a compelling argument(s).

234   Peter P   2008 Jan 16, 1:05pm  

Now even if you dispute it, you will still suffer damage to your credit because businesses somehow don’t have to prove a debt in court anymore.

Always pay first and then argue later.

I am a strong believer of IP because I am a strong believer of property rights. On the other hand, lawsuits are not going to stop music pirates. The music industry will be forced to provided digital contents for survival in this day and age. In the end, this will all sort out fine and most people will be happy. Just look at iTunes. It is making money. People want to pay if there is a way.

235   Peter P   2008 Jan 16, 1:06pm  

Peter, nothing personal really.

I don't take things personally. :)

I wonder how you got that idea. You got it upside-down.

236   Malcolm   2008 Jan 16, 1:07pm  

"Always pay first and then argue later."

That's not how it's supposed to work. That atitude is capitulation. In fact, under some laws with credit cards, paying it actually removes your right to dispute it. Different case but same principle.

237   Peter P   2008 Jan 16, 1:09pm  

They already do that in China. Google was recently investigated because one of the people it turned in from its search engine (again government outsourcing of tyrany) was actually executed. The downside, a little bad PR, but hey the stock was doing well.

In the end, people here do not care. If they have time, they may care a little about Darfur or "global warming." Recently, they have bigger worries.

238   Peter P   2008 Jan 16, 1:11pm  

That’s not how it’s supposed to work. That atitude is capitulation. In fact, under some laws with credit cards, paying it actually removes your right to dispute it. Different case but same principle.

But for credit cards, amounts under dispute are not required to be paid immediately.

239   Peter P   2008 Jan 16, 1:15pm  

what they left out of your program (among other things) is basic sociology that even the Romans knew.

And I wonder what happened to the Romans? :roll:

240   Malcolm   2008 Jan 16, 1:15pm  

I believe in strong IP protection also, not having it redefined and certainly not these junk patents like sticky place setting paper strips. Not for things that have already been invented and are just repackaged inventions. Another redefinition of copyrights, somehow the original definition of life of the artist or author plus 75 years had also been bastardized in that now they are transferable or somehow go into some estate trust for perpetuity.

Go check out the Eiffel Tower official website. Somehow France thinks a copyright exists for all photographs of the tower lighted at night. That is a weird one for me to grasp. No matter who takes a picture they have a copyright of the tower at night:

"Q : Is the publishing of a photo of the Eiffel Tower permitted?
A : There are no restrictions on publishing a picture of the Tower by day. Photos taken at night when the lights are aglow are subjected to copyright laws, and fees for the right to publish must be paid to the SETE. "

Source: http://www.tour-eiffel.fr/teiffel/uk/pratique/faq/index.html

241   Malcolm   2008 Jan 16, 1:17pm  

"But for credit cards, amounts under dispute are not required to be paid immediately."

Correct because under our basic law a creditor has the burden to prove the debt. Just like any court action.

242   Malcolm   2008 Jan 16, 1:18pm  

The sociology stuff would be in the undergrad elective classes, and a business ethics class which means more to me now than ever before. I thought it was wrong at the time to require it, I have come to realize that was an immature point of view at the time.

243   Peter P   2008 Jan 16, 1:19pm  

Correct because under our basic law a creditor has the burden to prove the debt. Just like any court action.

True. But they can also enter derogatory items in your credit report without prove. Sometimes doing the "right" thing is not optimal. :(

244   Peter P   2008 Jan 16, 1:22pm  

I believe in strong IP protection also, not having it redefined and certainly not these junk patents like sticky place setting paper strips.

Many patents cannot be easily defended. One always needs competent legal representations.

245   Malcolm   2008 Jan 16, 1:25pm  

Credit cards at least are a long term relationship, and require good business sense. I'm a great customer so I never have problems with Discover or MBNA. Too bad that vet didn't think ahead because they ended up losing more than if they had just compromised in the beginning, they got a complaint filed with the state, and on RipoffReport.com Banfield Pet Hospital, the biggest piece of shit ripoff vet, has yet another entry on an already long list of complaints. All this over a whopping $150.

246   Peter P   2008 Jan 16, 1:26pm  

The sociology stuff would be in the undergrad elective classes, and a business ethics class which means more to me now than ever before.

Ethical people do ethical things. Why do you need to take a class? :)

If you approach life with love and respect, how can you do anything unethical?

[duck and cover]

247   Malcolm   2008 Jan 16, 1:28pm  

They then recently had the nerve to send my dog a fucking birthday card. Mother fuckers.

248   Peter P   2008 Jan 16, 1:28pm  

Are we being led to believe our pets require more care than necessary?

I am not going to do CAT scans on our cats.

249   Malcolm   2008 Jan 16, 1:31pm  

"Ethical people do ethical things. Why do you need to take a class? "

That was my point of view at the time. The final project: Write an essay on who are directore responsible to.

I said the shareholders only because ethical shareholders would not expect directors to do unethical things. Got a B or a B- on the paper.

Evidently shareholders put the results ahead of the ethics.

250   Malcolm   2008 Jan 16, 1:31pm  

directors

251   Malcolm   2008 Jan 16, 1:32pm  

MBA Marketing class conclusion. Vets are in a unique position because and I quote "When Fido is on the operating table, people will pull out the credit card and not question the amount."

252   Malcolm   2008 Jan 16, 1:35pm  

Since I love sharing the pet horror story I may as well post the link:
http://www.ripoffreport.com/reports/0/236/RipOff0236998.htm

253   Peter P   2008 Jan 16, 1:35pm  

I said the shareholders only because ethical shareholders would not expect directors to do unethical things. Got a B or a B- on the paper.

Well, IF I am the shareholder you are hired. ;)

“When Fido is on the operating table, people will pull out the credit card and not question the amount.”

I will tell the vet that my cat prefers alternative medicine.

254   Malcolm   2008 Jan 16, 1:38pm  

Present the vet with an advanced directive signed by your cat saying not to use any expensive treatments to prolong its life. :(

Sorry I know that may strike an emotional nerve.

255   Peter P   2008 Jan 16, 1:40pm  

I was lucky...

In one of the ethics classes, I claimed that bribery is not necessarily evil and that it is more of an indication of inefficiency.

The instructor did not disagree.

256   Malcolm   2008 Jan 16, 1:42pm  

I would have given you an A for original thought, and courage.

257   Malcolm   2008 Jan 16, 1:43pm  

The need to have bribery to get something done is more indicitive of a corrupt or otherwise broken system.

I somewhat share your point of view since system design is the core of my undergraduate and professional focus.

258   Peter P   2008 Jan 16, 1:44pm  

I would have given you an A for original thought, and courage.

Thanks.

As humans, we like to believe in justice, equality, fairness, and decency. The real world is not exactly like that... :(

259   Peter P   2008 Jan 16, 1:47pm  

The need to have bribery to get something done is more indicitive of a corrupt or otherwise broken system.

Yep. It also means that resources (services or resources) are severely mis-allocated.

Free Market seems to be promising. One challenge is to suitably regulate the market just so that it is efficient and HUMAN.

260   Malcolm   2008 Jan 16, 1:49pm  

But yet you defend the conditions in which the evils fester and (often correctly since state power does the same) yet don't even allow the option of the collective contribution for the overall social betterment. That presents a dilema to me.

261   Malcolm   2008 Jan 16, 1:51pm  

If a meteor was heading to Earth and going to wipe everyone out, who in your mind would try to stop it?

262   Brand165   2008 Jan 16, 1:55pm  

DinOR says: On the East Coast it’s all about “old money” and tracing your families wealth to the “whaling fleet”.

DinOR, have you ever even been to the East Coast? I mean really traveled there, not just flown in for a few days and then filled in the rest with movies and TV shows. The northern East Coast is about immigrants, not blue bloods. The defining aspect of the culture is Wall Street, Capitol Hill and the attitude that "anyone can make it in America".

The southern East Coast... well that's something entirely different.

263   Peter P   2008 Jan 16, 1:56pm  

But yet you defend the conditions in which the evils fester

It is more complicated than that... let's say we always oscillate from one extreme to another. Perhaps human society is a dilemma? Hey, if even God is unable or unwilling to solve the human problem, the dilemma is either hard or purposeful. :)

If a meteor was heading to Earth and going to wipe everyone out, who in your mind would try to stop it?

Interesting question. I doubt it can be stopped. I will call Bruce Willis and Ben Affleck.

264   Malcolm   2008 Jan 16, 2:00pm  

Assume it can, and if not hopefully someone would try. Who would it be? A government? Would a heroic corporation lose its wealth knowing it was the only one and there was no compensation?

265   Malcolm   2008 Jan 16, 2:02pm  

Or is this too simple? Maybe it clearly falls under "Provide for the common defense." Still the fundamental since I'm sure your conviction goes beyond the constitutional definition of government role. A strict libertarian view, who stops the meteor?

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