patrick.net

I like houses too... however, we almost never use our patio or balcony anyway. But I like the idea of not sharing walls with neighbors... especially those with powerful subwoofers. This is part of the reason why I prefer living among older people. I get nervous when I am around teenagers.

If I do get a house I will attempt to build a modular construction if at all possible. No septic tanks or wells under any circumstance. Must have underground utilities.

Regarding square-footage... I rather have fewer but bigger rooms. I also like bigger bathrooms. The kitchen is merely symbolic to me.

I like exposed wood beams but they must not be intrusive. Good feng shui is essential.

I prefer a place that does not require air-conditioning. My ideal temperature is 55 to 65 degrees. I do not need to see the sun all the time but I hate excessive rain.

Jack Says:
Why not a furry looking straw-bale craftsman HARM?

I know you're kidding, Jack. But just in case anyone else is wondering what the heck a "straw-bale" house is, it's typically a standard post & beam frame house that uses SB as giant "bricks" for the outside walls (in place of studs & drywall). The straw is NOT exposed --it's covered with 3-4 inches of clay, lime or stucco plaster. The finished look is similar to adobe.

Peter P Says:
I prefer a place that does not require air-conditioning. My ideal temperature is 55 to 65 degrees. I do not need to see the sun all the time but I hate excessive rain.

The you clearly need a straw-bale house! Nothing is more passively climate/energy efficient. Like quesera said, it can be 110 outside, and with only a low-energy evaporative cooler, it'll be pleasantly cool inside. Btw, You meant your ideal temperature range is 65 to 75, right? 55's a tad chilly for most people.

On a different note, I've had one heck of a time with this site tonight --server keeps going down. I wonder if it's the new "Zotob" virus.

Btw, You meant your ideal temperature range is 65 to 75, right? 55’s a tad chilly for most people.

I should have said 55-75. It is a bit too warm above 75 and it is a bit too chilly below 55.

I’ve had one heck of a time with this site tonight –server keeps going down.

I have the same problem too. Ping was fine but http requests went unanswered.

Perhaps in the future, we can use a moldable material (like Corian) to build an entire house. Imagine, we can even live in a house that is shaped like a rubber duck. ;)

I hope to see a breakthrough material. It must be strong, earthquake-resistent, thermal-insulating, good-looking, moldable, renewable, and cheap.

Let's call it anal voodoo housing products (AVHP).

Me I like space ;)

Four bedrooms, study, rumpus, 2-3 car garage (I like to tinker on projects), under house storage, perhaps a pool. In metric ~30 squares (300 square metres). Preferably located on hillside with a view in deadend street (no through traffic). Would be nice to be near park, not too close though.

Land size would be 800 square metres to 5 acres.

Price:- currently in surrounding areas to where I am now price is $500k to $1million (800 metre block) 1-2 million (5 acres). Prices have fallen but I think will still fall 20-30%.

Oh, tennis court and heli pad would be good too........ ;)

On a different note, I’ve had one heck of a time with this site tonight –server keeps going down. I wonder if it’s the new “Zotob” virus.

HARM, Peter P,
It has been difficult to get a connection from here too. Any idea of current hit rate?

"...total fantasy house or a realistically attainable house. I have always thought that financial limitations make it more fun and creative to imagine something that could be within my reach.."

Agreed...good aesthetics are developed from limitations, not excesses.
We're feeling slightly "limited" here, but that can be a good thing; it keeps us from accumulating too much cr@p. However, given the chance, we'd consider moving into a bungalow-style home--something with a nice overall design...we're big on mission furniture. On the other end of things, I'd seriously consider a modernist-style modular home. At best, I'd like a totally open floor plan that would let me configure rooms by moving around panels. A lot of glass, wall-height windows. Of course, glasss is best with a view, and I doubt we'll ever top the view we have now. Btw, we have animals around here too--I just watched a seal swim by as I ate breakfast.

My dream house is 200x rent. For the right property, I might go to 240x rent. This is actually attainable in most areas of the country right now, but not the coasts.

So, for a 1400 sq ft 3 bed 2 bath, that's about 450k or so. Maybe. If rents go up.

Obviously, I'm either renting or moving to get a house within the next three years.

Right now, I'm looking at Portland. Multipliers there are a bit below 200.

AntiTroll from Oz Says:

HARM, Peter P,
It has been difficult to get a connection from here too. Any idea of current hit rate?

Patrick's looking into it.

3-4 Bedroom with 2+ Bath 2200sqft with atleast 5000 in good school district with year 2000 pricesin BA.

Pop! Kah-lee-fornia will remain strong. A housing correction that removes mal-investments will be good for us.

Was it you (Peter) that said October is when the housing market downward spiral would kick into high gear?

Yep, it was me. This "urban legend" is spreading fast though.

A small lot is okay but I want an unobstructed view of some relatively unpopulated hills and preferably a salty body of water.

Why "salty" body of water? Fresh seafood?

Overall, I like what you have described. Vancouver island is a nice place. I would "settle" for an ocean view high-rise condo in Coal Habour. :)

A small lot is okay but I want an unobstructed view of some relatively unpopulated hills and preferably a salty body of water.

There's still land on some of the San Juan islands. Or just wait for prices to fall on Bainbridge...

Dream home?

One that costs half as much as it does now

Pop!,
Would you then buy twice as much?

@Pop:
Looks like California is going to get hosed when the bubble breaks. California has 25 cities out of the top 53 whose markets are extremely overvalued.

And, that's only the tip of the iceberg, since many CA towns aren't listed (but I know they should be).

Was it you (Peter) that said October is when the housing market downward spiral would kick into high gear?

Yep, it was me. This “urban legend” is spreading fast though.

Careful, the bulls might blame you if you are right!

My dream home would be one that would hold it value over the next 5-7 yrs…only will happen in my dreams

Most houses do hold their value, unfortunately it is the price that varies!

Careful, the bulls might blame you if you are right!

If I am right, I can always say "told you so".

If I am wrong, no one will care (except perhaps Face Reality and Fake P).

Or... are they claiming that our words carry more power than Greenie's?

This “urban legend” is spreading fast though.

Also, I am sure someone else probably started the October prediction. It is actually much more than an urban legend.

If I am right, I can always say “told you so”.

Or… are they claiming that our words carry more power than Greenie’s?

AH, but thats the beauty of urban legends.

Does global warming, climate change get much attention in states?

Most houses do hold their value, unfortunately it is the price that varies!

lol...a fine distinction, easily forgotten!

lol…a fine distinction, easily forgotten!

It's the forgetting, that lets a bubble grow!

Does global warming, climate change get much attention in states?

None at all.

Does global warming, climate change get much attention in states?

None at all.

Wow.
Some of Australia's states are going through some longer than usual droughts. It has been hurting a fair bit of outback New South Wales, and has Sydney authorities scrambling to solve lack of water problems.

Major solution touted being a desalination plant (will drive up cost of water considerably).

@Antitroll:
Some of Australia’s states are going through some longer than usual droughts. It has been hurting a fair bit of outback New South Wales, and has Sydney authorities scrambling to solve lack of water problems.

Is Aus still having problems with auquifer compaction/saltwater incursion of farmland?
(too many wells drawing off fresh water). From my perspective, I have to wonder how wasted billions of dollars (Iraq war?) could be used to actually help arid areas--not bomb them to the stone age. Seems that desalination could get better perfected with some real effort. Oops--semi-political post, apologies!
I'm also just a little concerned about polar ice melts...a rise in sea levels could displace millions of people and cause widespread starvation. Countries like Bangladesh would really be swamped.

Astrid, Kurt S,

Have you read Jared Diamond’s Collapse? He makes a good argument for why there should be little to no farming in Australia. He says that the unpredictability (or just plain lack of water) and low soil fertility means Australia cannot sustainably keep even its current population level.

Unfortunately I have not read Jared's book. There is a saying that you should make hay while the sun shines may be relevant. Farmers here tend to prosper during the better seasons, and struggle through the droughts.

AND I think natures feedback systems will keep the farmers in check. If you abuse and overfarm the land, then sometime in the future the land becomes less fertile .

I'm pretty sure that Australia is a nett exporter of farming produce (lamb, beef, wheet etc) , and therefore we would probably support the current population.

2000 sq ft traditional townhouse in a high-density georgian neighborhood, across the street from a park surrounded by traditional wrought-iron fencing, with a small commercial district (pub, grocer, etc) within walking distance. Located in california, prefereably near the coast where it is overcast most of the time.

For this, I wish to pay... five hundred thoooooooooouusand dollars. _puts pinkie to lips_

But I'd plunk down a mil if it came down to brass tacks.

cheers,
prat

My dream house is a 5 bedroom 3 bath Craftsman in the Clairmont neighborhood of Berkeley. About two blocks off College.

I would pay $1.25M for such a house. I don't quite have that right now, but if I sold the place I am in now for current market prices, I could probably swing that. I think my dream house would sell for about $1.7M right now.

If the housing market takes a tank, but the rental market does not, I can still imagine getting into it at that price, but it would be a real stretch. We would have to both get a couple of good raises, but I can see it happening.

Berkeley has good schools, nice weather and that neighborhood has great views of San Francisco and the Bay and is full of old beautiful homes. College Ave has some of the best food shopping I have ever seen and there is a BART station about 1/2 mi away that is 20 minutes from Downtown San Francisco.

So I guess that would make me a buyer if prices went down 30% or so. But my fiancee says she would pay $900k for such a house, so that makes it more like a 50% drop.

My TOL puts went up 20% today!

Here was someone’s dream Cow Hollow/Marina 2b/2bath, 1,300 sqft condo with deck that went for $100K over asking to $1.25MM. $990/sqft. Not bad! 3 week close.

Nice condo! The bathroom looks pretty bad though.

Wow. Even NRO financial is on board:

http://tinyurl.com/bhafl

Cheers,
prat

Jack-
I do like the Eichler concept, clean lines, indoor/outdoor integration....those designs were certainly forerunners in their time. I think they're great--if well maintained.
I'm less enthused by slab floors, possibly because I've always lived near sea level, areas of high rainfall, and want some distance between ground and floor level. The idea of plumbing sunk into cement bothers me as well.
Ah...the "bungalow" flip in SA? Well, yeah--it's a spectacle...$700/sqft...shocking!
Last I checked, it's still on the market (and not reduced) Good luck to them!
Seals...I've seen those guys as far up as Kentfield. Then there's bat rays, small sharks, otters, deer...it's a zoo over here!

CentralCali:
Well, it seems to me that it’s just getting worse and worse. I kept hearing 3 years ago to buy because I would get: “priced out of the market.” I just kept saying to myself “no”, the laws of economics will re-apply and things will sober up. They haven’t. They really haven’t.

How is inventory in your part of the state--going up? Here, I'm seeing rising inventory/lower sales. Eventually, I suspect that will "adjust" prices. So hold on--things could get better :-)

(not "investment" advice)

I’ve been following this bubble for 5 years, and I just keep saying: “sooner or later the fundamentals will start to apply again.”

Wow, CentralCali, you've been following this thing longer than I or probably anyone else on this blog has! No wonder you're feeling discouraged. I wouldn't give up just yet, though. We're already seeing rising inventory and slower sales in most CA cities, and slowing to flat appreciation in some (San Diego may be the proverbial "canary in a coal mine").

That said, I wouldn't expect the correction/crash to play out quickly --housing prices are notorioulsy slow/sticky on the way down-- or for them to return to 1996 levels. At best they'll probably only give back 30-50%, depending on the area, and this could take several years. If you absolutely *must* buy right away (don't see why), you might want to check out some not-so-inflated markets, in the Midwest or South (excepting FL, MD & other bubble-infested areas). I'd say renting's a FAR better bargain just about everywhere else.

"As housing slowdown takes hold in San Diego, experts differ on depth "
tinyurl.com/9azcp

"WSJ: Rise in Supply Suggests Housing Market Cooling "
tinyurl.com/8ub2n

"Bay Area Housing Prices Dip Slightly"
tinyurl.com/c2oco

"Home prices 'extremely overvalued' in 53 cities"
tinyurl.com/b649c

"Once again sorry for coming off a bit down this morning, but I’ve been watching this thing inflate for so long now, and it’s just starting to get to me. I mean, they are called fundamentals for a reason, right?"

Once again, (altogether now):
"ASSET BUBBLES TEND TO LAST LONGER AND GROW FAR BIGGER THAN ANY RATIONAL PERSON AT THE TIME WOULD HAVE THOUGHT POSSIBLE".

Remember, there's a reason why they're called speculative "manias". Fundamentals and reason just don't figure into the decision-making process of the people involved. Greed, fear and euphoria have taken over higher brain functions of recent buyers, and will hold their grip until it becomes obvious to even the most rabid flipper that "20%/year forever" is just not going to happen.

I’ve been following this bubble for 5 years, and I just keep saying: “sooner or later the fundamentals will start to apply again.”

Now is a much worse time to give-in than 5 years ago. Hang in there.