patrick.net

Nope no buying for me in Az. Way too much downside, not looking for an investment, especially one that looses everything. If I like Az and stay I might by in late 07 or 08 when all the caliassfucks are out of the "market"

I am NOT buying JUST BECAUSE of HOA fee.

I will wait till 2008 … I am happy renting

Looks like 400-450 has become the standard HOA for condos. That number is around 200-300 for townhouses and 100 for SFH.

Honestly 750K is not that bad if HOA is around 200.

John Haverty Says:
Special Reports - Torch My Ride: Arson for Hire

hmm, JH displays a remarkable ability to argue against himself...

Why so high? Is there a justification or condo developers can set any fee at will? Can HOA increase in future? Does it include utility bill?

Two major maintenance items: elevator and swimming pool.

That complex has both.

Rest assured that HOA will increase in the future. Also, homeowners can be hit by huge assessments (new roof, new sidings, etc).

That complex has both.

Oops, it does not even have a pool. Why is the HOA so high?

You and (the delightful) Mrs. X have the luxury of not having to pull a kid from his ‘perfect life” to do this. However…if she has her way…you may not be childless for long!

Ouch.
Now, Linda, that was harsh. You do want Mr. X to invite you back, right? :-)

I saw this exact same comment on Fark tonight … word for word. What the heck?

hmmm

John, you’re an engineer. What was that nonsense about the exorbinant energy consumption to produce my bike?

i dunno, frify, but he'll argue about it with you.

are you getting an aerorider? (innocently)

interesting point about commutes, though, one solution is to buy a place to stake the equity, but then go on to rent elsewhere as work requires. in oz, you get tax breaks to the point where it can be cheaper to buy 1 place and live in another than live in the place you're paying off -- IF you bought before the boom.

michael mobbs, a guy who designs 'green villages', points out that the construction contractors have to travel from all points of the compass to make some supposedly green, energy-saving development, therefore adding significantly to the 'embedded energy' cost of construction.

Guys,
Hate to change the topic for a minute, but I had a kind of revelation this weekend. To cut to the point and get the embaresessing stuff out of the way, I somehow got convinced to go to a timeshare presentation. I'd never been to one, so what the heck?
Needless to say it was absolutely useless and I was jabbered at for over an hour by this poor salesman. I actually felt kind of guilty for going.
Now... Here's the DOOZY. The company that ran the timeshares is owned by a company called Cendant Corporation. Perhaps some of you guys that trade stocks are very aware of them. I'd never heard of them. What's interesting to me is that Cendant owns an enormous amount of timeshares around the globe. But that's only a small fraction. They also own Caldwell banker, 21st Century, ERA, Sotheby's International, NRT, the biggest broker company in the U.S, the resource group, the biggest provider of titles.
In essence, Cendant owns enough major RE and mortgage related companies to have an almost virtual monopoly on the entire RE industry. It is not easy to find any of this information on their site. By reading a few investor articles, I found this one, which to me is the writing on the wall:

"Realogy Corporation is anticipated to launch as a standalone, publicly traded company by the end of June 2006. This new company will be formed from the previously announced spin-off of the Real Estate Services Division from Cendant Corporation. Realogy will be comprised of four complementary businesses:

* A global real estate franchisor of industry-leading brands
o Century 21®
o Coldwell Banker®
o Coldwell Banker Commercial®
o ERA®
o Sotheby's International Realty®
* NRT, the largest U.S. residential real estate brokerage company
* Cartus, the world's premier employee relocation company
* Title Resource Group, a leading U.S. provider of title, escrow and settlement services

As the leader in size, scope and resources, Realogy will be well-positioned to take advantage of the favorable market dynamics that drive the real estate industry, including U.S. residential real estate market demographics that will drive strong, long-term housing demand; international expansion opportunities for both relocation and franchising; and emerging technology that will support sales and grow market share."

You can read more about it here: http://www.realogy.com/

Now... I know that starting a conspiracy about this is only too easy. But seriously- could this be the true smoking gun?

George,

Well exactly. I suppose we had best be prepared b/c as the bubble inflated we had specuvestors drooling all over us with how they were going to spend the money, now we're going to have to do plenty of "hand holding" on the way down! Well I for one refuse. I cannot make everything right in your world Mr. Specuvestor so why waste your time and mine! Take your lumps like a man and move on to your next incredible humiliating disaster. I only charge $200 for a complete financial plan (which btw does not advocate the use of the "debt=wealth model). While Prudential (I believe) charges $1,500 PER YEAR I am relatively cheap but no, you can not bitch and moan at me for free. Sorry Mr. Specuvestor. I mean look at his ROA. $1,000 a month in rent collected minus $150 HOA, minus $200 a month in property taxes, minus 6% rental manager fee = $590 TAXABLE freaking dollars. So his ROA is what, 3.12%? Freaking pathetic. (Assumes asshat paid $225,000) Don't waste my mutha f@ckin time*

*From Al Pacino in the movie "Heat".

El Presidente from the HOA is going to here from me just as soon as the market closes! You see, the reason I am so lit off about this is not the transgression against your fellow man in the first place but BECAUSE I KNOW WHERE THIS LEADS! People that bitch to their neighbors and get the slightest concession BITCH MORE! You think by jumping through the hoops that you've made them happy and you've heard the last of it" Wrongo, it's just getting started! Next thing you know having three buddies over once a year for the Super Bowl translates into "a constant and ongoing party"! No thanks guys. Been there, done that. NFW, I'm going to nip this in the bud before it even gets started! Now where's my bud nippers?

Oh and before anybody jumps in and says "that's what you get for being a renter" I've been down this road with many a "homeowner" too! Renters are benign when compared to "homeowners" that KNOW they are right! For 10 freaking years I lived next door to a neighbor who's wife made our lives a living fucking hell! In the end I just gave up and realized that no level of civility and compliance was going to make this woman happy. And we lived on THREE ACRES! She gave me the "stink eye" everyday when I drove up the driveway so I had that to look forward to when I got home from work. Tormenting us became her hobby, her passion. I hear she has found the Lord but hasn't found her way to apologizing to my wife or myself. (I found out years later that she was basically "extorting" money from my wife to the tune of $40 a month for the electricity she "calculated" for the use of our common well). This a "good" Christian? I'd hate to see the bad ones. Fucking asshat!

DinOR:

"Boomertopia". Gotta remember that one. My mother lives in "Willow Glen" aka San Jose -- that is the perfect example of Boomertopia and I'm going to be sure to tell her so. She loves to go on and on about her $820k starter condo with a one-chair balcony boasting a stunning view of a B of A parking lot. What a shitheap.

I hear she has found the Lord but hasn’t found her way to apologizing to my wife or myself. (I found out years later that she was basically “extorting” money from my wife to the tune of $40 a month for the electricity she “calculated” for the use of our common well). This a “good” Christian? I’d hate to see the bad ones. Fucking asshat!

Apologies in advance to any nice Christians out there, but when someone spouts off to me about how they've "found Jesus, etc., etc.", I run the other way as fast as possible, because I know what's coming next! Usually a sales pitch for their cult/church, or some other pyramid scheme for which they're trying to snare some more "converts". People who wear religion on their sleeve and must go around telling everyone else how holy they are are NOT moral people! This type of so-called "Christian" feels it's prefectly OK to f@ck over clients, co-workers, friends, family, whomever, all week long, but then "repent" on Sunday. And that makes it all better --Hallelujah!

And btw, in case anyone's interested in moving to the South, here's a tip: Baptists are the cheapest motherf@ckers on the planet when it comes to tipping. The absolute worst are the Sunday busriders on their way back from church to lunch/brunch wherever. Found that out the hard way, working as assortment of service jobs after college.

Red Whine,

"one chair balcony" LOL!

Good stuff. I see them all over Portland in the "Pearl District". A buddy of mine owns one and we go out there to smoke cigars. I swear he has a hibachi sized grill and one potted plant so there's barely enough room for two guys to stand. Every time someone has to go inside it's like "uh, excuse me, um, pardon me". Oh and the view? Used to have a view of the Fremont Bridge, now? Yeah, a view of other people's "once chair balcony" so I guess you can have a party with yourself. Woo Hoo! I suppose that's why so many just sit empty even on the rare occasion of a nice day in Portland. Just a waste.

"Boomertopia" may be Surfer X's, not really sure. One thing I do know though is that I have an asshat neighbor that's about to get her's.

HARM,

I think in my case the "strategic leak" that was bound to find my ears is done so to let you know you're not supposed to "go after" that person any more. Kind of like "Safety" when were kids playing tag. These people are real good at getting in some cheap shots when it would be totally inappropriate to give them the response they so richly deserve by claiming "Safety" just when you're about to let 'em have both barrels.

Oh, sure I did some mean and hidious things to you in "former life" but I've found God (or whatever) so it would be inappropriate for to knock my teeth out one at a time with a tack hammer b/c I'm not "that person" anymore. I'm a "new person" totally unassociated with that "former person".

Well guess what sister, after having you for a fucking neighbor I now have NO FEAR of hell! I've already spent my time there and after you get what you got coming to you the satisfaction will be worth the eternal weenie roast!

newsfreak,

Yeah, I saw her the other day at my youngest daughter's HS graduation. It's not so much the "stink eye" that she gives me but more the "I've already been through hell so you don't need to chase me with a tack hammer" look. I don't know what I could possibly do to her that life hasn't already. One decent kid out of five from THREE different husbands and she lives in a "double wide" on a dirt road! Case closed.

DinOR, I am your Father, embrace the anger, welcome to the darkside. Good Good.

Oh Yeah! I was talking to a friend this morning (cynical attorney) that told me when it comes to neighbors it just seems like there are "different flavors of bad". I told him he just killed the last little part of me that WASN'T a cynic. Thanks pal! Actually it's just when you have ONE bad neighbor for every 10 decent ones they feel like they have to "fill the void" by being asshat enough to make up for the rest. I get this sick impression that they feel by making others feel self-concious about their every waking move they are "doing their civic duty" to make everyone else as miserable as they are!

Surfer X,

"embrace the anger"

Uh yeah, (sorry about that). I saw asshat #2 when were on the back deck yesterday for daughter's grad. party and she gives me this "perturbed look" b/c our music on low and casual conversation "broke her tranquility". What a caffone. What an asshat.

Jon,

Yeah, sorry about that. Surfer X has helped me to embrace my anger so I can move on now. It's just that after 9 years in the U.S Navy you really develop an appreciation for the need to get along. When I see neighbors that go out of their way to let you know that they don't care if you are upset or insulted it kind of gets to a guy, you know?

mlslistings.com summer climb...

June 8th, 2006
San Mateo (all price ranges): 1363
San Jose (all price ranges): 3669

June 12th, 2006
San Mateo (all price ranges): 1428
San Jose (all price ranges): 3709

65 homes/week -> 2300 San Mateo homes by the end of September?

newsfreak,

Exactly, we have always gone out of our way to be ideal neighbors where and whenever possible. If there are chioces we are presented with we'll almost always go with the one that would be the most considerate of others. It really gives me pause for reflection when we stop to think about what our "post bubble" home and lifestyle will look like? What good is a "high end, up-scale" home if your neighbors are asshats?

I just said being an alarmist and a complete ASS doesnt solve anything.

Thanks for proving a point.

no, thank you

Some neighbors think the world revolves around them.

What revolves around what? It does not matter. It is all relative.

But if we get that wrong, things will be in retrograde from time to time.

newsfreak,

Uh I don't think I'm going to show this person a damn thing. It's just that incidents like this do give us cause to question what other people in the neighborhood would do if you let your folks park their motor home while visiting or set up a baseball diamond for your kids? What would it take to have someone who's been a good friend and a good neighbor to turn on you over the slightest issue. It's just too much of a "tight rope" much of the time. I think what amplifies the out of doors issues for Oregonians is that we have so precious few nice days and we spend like 10 months out of the year fantasizing about them and how we will spend them that it gets "touchy" real quick. I suppose if we lived in an area where nice days are a dime a dozen it wouldn't be nearly the issue it's become.

Yes I know it's a nice day and your son has been well behaved so he can ride his ratty sounding dirt bike but we had plans for a quiet afternoon with friends!

It seems like people get more edgy the closer we get to having a "day without rain". Hell it can be overcast and cool if it just stops raining for one damn day! Must be that much worse in Seattle!

Thanks to everyone for their support and concern!

LILLL, I think you hit the nail on the head with your comment about people that seem to have energy to burn when it comes to ticking you off. Please notice that they were all fired up wether it's tearing down a fence (or just making a mess in general) but are suddenly depleted when it comes time to clean it up! Our old neighbor is dealing with the flipper from hell. Looks like about 1/2 way through the guy either ran out money, ran out of time or just plain gave up! Everything is being "worked on" but nothing is complete (and it's been half done for OVER a year!) What a great thing to wake up to everyday!

Peter P, SQT,

We do see that to some degree in Oregon but where it does occur it's a mess. Even after people have moved out, on or wherever you can see it's the kind of wear and tear that won't "fix" with a coat of paint.

And they cannot sue. Ha Ha.

Does this mean they are out 160K total compensation?

Does this mean they are out 160K total compensation?

Huh?

New thread: Dream home architecture

I think Peter meant "And they cannot sue for one HaHa." $160k is a lot to pay for a parking infraction -- but rules are rules!

Actually, Ha Ha refers to my laugh. :)

Sorry Peter,

Using HaHa to indicate laughter around here is like going to Polk Street and calling someone "gay" to describe their happy demeanor. You're simply inviting confusion.

Using HaHa to indicate laughter around here is like going to Polk Street and calling someone “gay” to describe their happy demeanor. You’re simply inviting confusion.

Confusion is my specialty. :)

Jon,

I am not an investment advisor either, just an IT guy, but I have done reasonably well in the stock market, so I am going to give you the standard "advice": Keep diversified and don't try to time the market.

What are you short and mid-term financial goals? To buy a home? To pay for school? That money should not be in a volatile instrument. Put that money in investment grade bonds, or a bond fund or a CD, like you have been.

The rest of your money belongs in the stock market or other investments. Any money you plan on retiring with belongs in the stock market. I am assuming you are at least 20 years from retirement here. Where exactly you should put your money is the sticky part. Right now my retirement money is 1/4 in an S&P 500 fund, 1/4 in large cap US stocks, 1/4 in Europe and Japan and the rest in cash. Here is where I have to admit not following my own boilerplate advice and tell you that this: 1/4 was in emerging markets until about three weeks ago, when it almost all hit its "stop loss" level and put me in cash. Right now I am just waiting out the correction so I can put it back to work.

My family believes in investing in real estate: my brother has two rentals in Paso Robles (where they are building a new State Hospital) and one in Idaho along with his office in Atascadero, my father owns three rentals in Joshua Tree and my father-in-law four in the Sacramento area. I think they are all making the rookie mistake of over concentration in one asset class.

I am one of the most optimistic people on this blog though and I am also one of the only homeowners, so take that into consideration. Almost everyone here is full of doom and gloom about the US economy, the housing market, the Bay Area, California and life in general.

I am not sure what you should do if you agree with them. One gentlemen suggested stockpiling ammunition. Perhaps you should go the whole nine yards and get a survival shelter full of C rations, gold bars and AK-47s. Just don't forget the arsenic pill in case you get overrun ;-)