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@kronicade
It's a good way to toss out obviously over priced properties. And if they aren't over priced, then they're by far the most expensive property in a given area. I don't think you've got to get that accurate when pricing out a home, you need to figure out a ball park figure and then hire a real estate professional to get the best pricing for the property, and they'll show you what you need to watch out for. Good, being the key here, and not someone who is just giving you a number to support a bank loan.
@Cautious1
The story goes far deeper than that. His wife left him for someone else. They never did divorce, she found someone who would be able to help him out (Astrid), keeping him company and keeping the house running. After his wife passed away, he ended up marrying Astrid. His house keeping skills are obviously very lacking and I believe always where. He's definitely a man of routines, working with what he has. Albert Einstein was a very interesting figure, and I've also read quite a bit on his life. They are very different people. Snowball, Warren Buffets book is really fascinating. It has very little to do with investing but really shows the character side of Warren Buffet. Warren Buffet ends up coming across as a master of numbers and understanding business, while having far more limited skills in living it large. He also avoids the spot light but LOVES talking about numbers and will talk to anyone who will listen. Einstein's latest book (I can't remember the name) was super fascinating and I actually changed my views on him from a more aloof human to one with some paparazzi skills.
PKennedy, do you think Warren Buffet has Asperger's? Thank you for the additional details, I was under the impression he didn't want to divorce due to the division of property complications. Please forgive my off-topicality.
@Cautious1
Snowball is one of my favorite books. He's incredibly fascinating. The book really shows his entire life from childhood to current. His relationships, what he's learned and what he's done. No great details on deals, but lots of information on how he changed over time. From running a paper route when he was a child to buying old pinball machines and splitting proceeds 50/50 with owners of establishments that would let him run them there. He understood that these people could buy these machines themselves and keep 100%, so he kept good relations with them. He would take the pile of nickels split it evenly and tell the owner to pick whichever side he wanted. He brought in a friend that was good with fixing machines and split his profits with him. He ran a gas station and learned the hardway that gas is a commodity and that loyalty means a lot. He couldn't compete with the family business across the street. His early childhood business adventures are pretty impressive and intriguing. He's an incredibly fascinating guy.
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I've been looking around at home value estimators and from what I can tell they are all over the place.
My wife and I bid on a short sale in Vacaville, CA. We offered $275k. It was listed at $299,900. 2009 tax assessed value was $334k. Zillow says it's now worth $266,500 (down from $274k just two months ago). Other estimators put it around the low $200k region, but I know these numbers are wrong based on other sales in the area.
House was built in 1972 with $150k of improvements just 4 years ago. The house sold for $295k in 2002. Our offer seems reasonable, especially compared to other properties that have sold in and around Vacaville. It's s 3/2 on a 9200 sq foot lot.
From what I've seen, Zillow's estimate seems close but in other markets/areas it seems a bit off.
Comments?