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Peter P
2006 Feb 11, 3:26am
Could I offer a developer an amount I can afford (about 1/2 of listed price) and make an agreement with him that says:
#1) I am going to live in the house, not rent it
#2) I will not sell the house for 10 years
#3) When / If / I do sell the house the developer gets 1/2 of the profit (after every single thing is paid)
Now first …. is this a stupid idea on my part?
Not stupid at all. Expect deals like this after the bust with the availability of hedging instruments.
Peter P
2006 Feb 11, 3:28am
Rents also diverge from prices during periods of regional economic restructuring. That is, when old industries decline and new industries take hold rents can rise rapidly while home prices fall nominally.
It is still a "fundamental reason" (perhaps related to the microstructure of the market), isn't it? ;)
Peter P
2006 Feb 11, 3:30am
Then why would I want a Prudential Properties or Coldwell Banker sign in my new front yard for a month.
How about a Sotheby's sign? :-P
seattledude Says:
"NC is nice. I have some family there, but the problem is race relations are STILL pretty bad there, plus, you feel like you have to take a shower every 5 minutes due to the humidity. Californians moving to NC WILL have to get used to the humidity."
I never could.
San Jose to Ft. Bragg, NC Carolina was quite a culture shock.
I'd get out of the shower and five minutes later I'd be drenched from the humidity.
Had a lot of cool times a Myrtl Beach, etc.
Glad I'm out of there, though.
Ever try Monsoon season in Phoenix? Late June-August.
110 degrees fahrenheit, plus high humidity/dewpoint.
VERY FRIGGEN' HOT AS HELL!
Lived in Flagstaff for a year as I got my MBA from Northern Arizona University. Not a bad place to live for a little while. On top of a 7,000+ ft. mountain & hippy Earth Mother chicks from Sedona.
Etc...
Dear Slacker McMDMA,
I'm going to barf the next time I hear you bitching about how terrible boomers are because we smoked a joint once. "Rave" on my friend. At least now we know what the "X" stands for.
DeoVindice Says:
"One last data point. We all love this guy. But we all know that he is an idiot."
Like the old saying goes, "An idiot and his money are soon parted."
I know more than a few lovable idiots.
The road to hell is paved with lovable idiots.
Just what the world needs: another lovable idiot.
Muy stupido?
In Idia, the village idiot is a revered figure.
Eh?
This whole situation is so crazy. I think I'm losing my marbles.
Oh, well...whatever, nevermind. --Kurt Cobain
"So lets do the math 4.2 original asking price. Taking offers at 3. That is more than 25% difference."
I can't believe this kind of talk.
$1.2 million difference!
I could retire today on $1.2M.
Amazing!
Garth Farkley Says:
"Dear Slacker McMDMA,
"I’m going to barf the next time I hear you bitching about how terrible boomers are because we smoked a joint once. 'Rave' on my friend. At least now we know what the “X†stands for."
MDMA = Ecstasy?
Never tried it, but I bet it beat Boomer Ex-Lax.
Bill Clinton smoked a joint...ahem...once.
Oh, that's right. He didn't inhale.
What did he do with that cigar and M. Lewinsky?
Oh, that's right. He didn't inhale.
Inhale this!
dt Says:
"Many people are so desperately to own a home that they bought a house and have no savings left. Many relies on the renters, who rent their rooms, to help them to pay the mortgage."
"What is the point of buying a house and rent out your rooms to strangers. This is not happen to only few families. But majority family are doing that."
The point?
The point you ask?
The point is that California IS heaven!
It IS the promised land of milk and honey and opulence and play!
California is beyond your wildest Nirvana!
You want the goodies, you must sacrifice your body, mind, spirit...and bank account!
Now get out there and grab the bull(shit) by the horns!
And always remember the cardinal rule: California real estate NEVER goes down!
Peter P
2006 Feb 12, 3:29am
It IS the promised land of milk and honey and opulence and play!
Moreover, California is so special that eventually only 144000 families can afford. :)
« First « Previous Comments 69 - 80 of 80 Search these comments
We've already had threads devoted to the boomer issue, and many feel it's time to move on.
So let's talk about RE and try to avoid the boomer/race/political/gender/religion tangents that have become all too common in recent months.
Tell us what you think about RE right now. Where are we at in the cycle and where are we going from here?