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"Wow, RJ, that’s a not surprising but still fascinating situation that seems to be occuring quite a bit these days.
As for those protesters, it’s a mix of sad and pathetic. You feel for them because they’re about to get hit hard. You wonder if their actions are desperation, selfishness or both. But expecting the developer to pay because the market turned? Because the salesperson “sold†them a house? WTF are they thinking?"
WTF indeed. I have no sympathy for this guy. Bob (or boob) didn't read his contract. Bob didn't do his homework. Bob took the word of a sales rep from Willaim Lyons. Bob is S.O.L.
While making a promise that prices would not drop without any real intention of standing behind that promise seems unethical, and possibly serves as a cause of action for negligent misrepresentation, Bob has to realize who he's dealing with. The good people of William Lyons couldn't give two shits about what was said outside of the contract and the deed, or what "puffery" was used to make the sale. Bob should have realized this before going into the deal. So sorry Bob, but no soup for you.
at least 500 sq ft of personal bathroom space.
Make that 2000 sq ft. :)
More OT: I just received my new used laptop. It looked like new. Not bad for less than $600.
This HP link has a lot of other good deals.
Peter, I assume you are a proponent of separating the bath area from the "business" area? I would love to have a home with a Roman bath. Unfortunately, I doubt that they come with the appropriate nubile servants.
:twisted:
Brand Says:
stuff
right, um, yeah, gosh -- what good arguments.
Peter, I assume you are a proponent of separating the bath area from the “business†area?
Definitely! "Work" and "play" should not mix. :)
I want a tub with a 270 degree view.
Peter, since you are up to speed on bathware, what's your take on ozone-cleaned hot tubs? A jacuzzi makes a great centerpiece in a sunroom off the master suite, but if you have to choose between dumping clean water every run, and nasty chlorine, I'm not sure there's a win.
Peter, since you are up to speed on bathware, what’s your take on ozone-cleaned hot tubs?
I prefer fresh water.
No jacuzzi for my rented "master" suite.
Actually, I prefer having a proper shower stall to a shower-over-tub.
Brand Says:
> Peter, since you are up to speed on bathware…
The comment on "speed" reminds me that “Undercover Brother†is lucky that his Ferrari Enzo was not anywhere near it’s top speed (unlike Gary the late Ferrari collector that worked with SFWoman’s little brother) when it hit the wall today (there is a video link in the URL below):
“Perhaps there will be a new ballot initiative in CA making it illegal to sell a house for less than the comps sold for….that would be pass EZ here in Communiforna.â€
The builders would have a fit. Could you imagine telling William Lyons that they can’t lower their prices/give incentives in order to unload their inventory.
No they wouldn't - under Prop 131313, this initiative would require renters, people moving to the state, and babies to pay for the losses incurred by homeowners.
It's only fair.
You know, sometimes I think speed limits in California are already too high.
Maybe California should be turned into one giant national park. My boyfriend has been ticketed the last two times he spent in a national park, going otherwise reasonable speeds.
tks to al gore the internet now allows everbody with a connection to shop residential mortgages for free..http://www.scotsmanguide.com/defaultw.asp?ID=1920
Yesterday C/L for Portland, OR showed 390 new listings! 390!
Pent up "demand"? Selling... demand?
Looking at the house prices in Sacramento, many are down $100K+.
It doesn't look too good.
Sid Finster Says:
Noone wants to explain this even though I keep asking -
since when was the American Dream ™ defined as “owning a house�
owning a 3 br house in the 'burbs - owning a car (now it's 3 cars) - picket fence... it's definitely the dream alright...
never mind that the sprawling 'burbs may not be sustainable...
What's so great about a suburb where you're 5 feet from your neighbor and you spend 20 minutes looking for parking at your local shopping strip?
Um, what's so great about a city where you are 5 feet from your neighbors and spend 20 minutes looking for parking within half a mile of your house?
Lots of people in London don't even own cars. They are within 200m of the nearest Tube station. And they have medium density worked out as an art form... Although if you have the luxury of new construction, you can always build basement carparks...
SFBB,
Actually, you'd only be a wall away from your neighbor and avoid car usage much of the time. At least biking and walking is an option for much of the city, even if public transportation is untrustworthy.
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COLDWELL BANKER® ENTRANCE INTO SECOND LIFE® MAKES VIRTUAL HOMEOWNERSHIP EASIER FOR MILLIONS OF RESIDENTS
Company Leads Real Estate Industry Into Virtual Future
(link)
This is in the give me a f*#!ng break category. All the zaniness in the "virtual worlds" space is a subject I've purposefully kept separate from Patrick.net until now. But this crosses the line for me. As if we don't have a big enough headache with the *real* real estate bubble, along with all its hype, mania, collusion, greed, corruption and now economic fallout, now we get to legitimize a whole *pretend* real estate bubble. And in case you think this is some irrelevant, minor fringe element bear in mind this particular virtual world claims over 4,000,000 current residents and is growing at over 30% per month.
For anyone lucky enough to have not been exposed, the short version is:
Ok, so I took this whole issue on, called out what I saw as a type of Ponzi pyramid scheme, and roundly got ripped up by cult Second Life's love hype machine. You can find my articles here (main one that started it all), here, here, and here. There is also a lawsuit (the real kind, not the pretend computer cartoon kind), Bragg v Linden in which my first two articles above have been submitted to the court in a revised complain[t]
statement. The case is a dispute over -- you guessed again -- Virtual Real Estate!If nothing else, I thought this might make a nice weekend distraction for everyone before we get back to the *real* RE bubble next week.
--Randy H
PS. If you really want to ruffle some academic and fanbois feathers, you can go join the discussion on the "Ivory Tower" blog that covers virtual worlds stuff here.
#housing