patrick.net
An Antidote to Corporate Media
1,199,609 comments by 14,172 users - 6DOF, ForcedTQ online now
Has Anybody Else Noticed A Slowdown In Menlo (etc.) Recently
invite response
2012 Jun 19, 8:30am 2,556 views 9 comments
Comments 1 - 9 of 9 Search these comments
rooemoore
2012 Jun 19, 8:42am
Well-priced homes in good locations are moving. Overpriced crap (and there is a lot of it!) is not. On my street a nice house with a huge, flat lot sold quickly for all cash 1.7mil. A smaller house on a tiny lot for 950k across the street hasn't moved for 2 months now.
It is a bit easier to get a loan now than it was 6 months ago.
This is a little off topic but I am always wondering who exactly is buying a home in Menlo, etc. for $1.7m and paying all cash. Stupid as it may be, most people that have $1.7m liquid are not looking to live in a $1.7m home (which, as you know, around here is maybe 2500 sq. feet at most, or 2000 in PA). In my experience, people that have $1.7m usually buy something that costs substantially more than that. Are these investors looking for rentals?
rooemoore
2012 Jun 19, 9:51am
. In my experience, people that have $1.7m usually buy something that costs substantially more than that.
I have a rich friend who is building a 6 million dollar house (the lot was 3 mil). with all cash. He has over 100mil so I guess he could afford more, but why?
1.7mil buys a nice home. If you've got the cash why take out a loan?
JodyChunder
2012 Jun 19, 10:09am
Yes sir! And one of my rich asshead friends just bought a 18 million dollar lot upon which he had a 17,000 sq ft mansion custom built , starting with a slab of mulched old master paintings and mint 1920's Steinways. The kitchen pantry alone is larger than every house you and your father and your grandfather have owned combined and is outfitted with all granite and stainless steel robots that massage and blow you and bring you chips and dips.
You see, my little pauper friend, if you have the $$$, why would you NOT sink it? Why use cheap debt when you can fritter away your own capital buying something outrageously pricey so that your degenerate loser friends can go online somewhere and flaunt your profligacy for you in a bid to make others feel like supreme underachievers!
Okay...gotta get back to getting richer myself.
rooemoore
2012 Jun 19, 10:38am
APOCALYPSEFUCK is Shostakovich says
The place is fucking doomed.
Only a matter of time until starving hoards from E Palo Alto are climbing in the windows to snack on the survivors.
It's true - even starving hoards like to snack.
rooemoore
2012 Jun 19, 10:44am
in a bid to make others feel like supreme underachievers!
Remember, there is nothing supreme in underachievement. And you need a bro.
JodyChunder
2012 Jun 19, 11:08am
Remember, there is nothing supreme in underachievement. And you need a bro.
Try with your left hand -- it has a slight different feel!
New Renter
2012 Jun 19, 11:41am
hgfAPOCALYPSEFUCK is Shostakovich says
The place is fucking doomed.
Only a matter of time until starving hoards from E Palo Alto are climbing in the windows to snack on the survivors.
Hey Apocolypsefuck is *your name here* did you ever see the movie "Wasting Away"?:
http://www.imdb.com/title/tt1027762/
It seems like your kind of flick
rooemoore
2012 Jun 19, 11:56am
Remember, there is nothing supreme in underachievement. And you need a bro.
Try with your left hand -- it has a slight different feel!
"slightly" -- Just because you live in Victorville doesn't mean you must have poor grammar!
I have been out looking at houses in Menlo, Hillsborough and Burlingame over the past few months. During the months of March, April, and certainly for the first half of May, the market appeared to be a "seller's market," with open houses flooded with interested buyers and many properties selling over listing, sometimes with more than one offer. However, starting around the middle of May, there appears to have been a turn in the market, and houses seem to be sitting for longer. Has anybody else noticed the same thing?