tag:blogger.com,1999:blog-13164186.post2979042786123945579..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: BubbleSphere RoundupDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-13164186.post-86167614300224291532007-08-01T15:59:00.000-04:002007-08-01T15:59:00.000-04:00Keith,Forgive me if I've lumped you in with some i...Keith,<BR/><BR/>Forgive me if I've lumped you in with some ignorant Anons, but I do believe that you have thrown a few stones - such as the "no new money comment" and the "nuts and bolts" comment.<BR/><BR/>I really don't care if others want advice from those who have NEVER owned. Whatever.<BR/><BR/>I wish that there were an investor forum because maybe I could learn something.<BR/><BR/>I think you are misguided to dismiss ideas from people that have 25 yrs experience in buying and selling RE, but to each his own.<BR/><BR/>As far as Lance, you miss (or forget) the fact that he bought a condo in the later 90's, when values were good. And, he was smart enough to sell it at the peak in 2005. He then bought an undervalued home in DC with a ten year fixed rate. How many here can claim the same success?<BR/><BR/>People in glass houses should not throw stones. I'd much rather make money "going in" than hope appreciation will bail me out. I've felt that way for over 25yrs. Wait for prices to fall and you get the same "deal" as everyone else. If that is what you want, then go for it.<BR/><BR/>I am an investor, even on my residence and second homes. Sorry.<BR/><BR/>I could find a great bargain in a week, if I wanted to. Most of you would rather piss and whine than do any actual work.<BR/><BR/>"nuff said". Got popcorn?<BR/><BR/>Va_investorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-4498913027599994342007-07-17T07:55:00.000-04:002007-07-17T07:55:00.000-04:00"And I am not a "criple" - not hardly. I am a Hall..."And I am not a "criple" - not hardly. I am a Hall of Fame athlete from my alma mater. And I am not yet in my 50's."<BR/><BR/>"I am often "housebound" due to an illness that caused me to "retire" 15 yrs ago. So I am on here often because I like to talk real estate and have little else to do. " VA_Investor Aug 12 2006<BR/><BR/>I think the above statement of yours from Aug does more to explain you than anything else you have said on this blog so far. <BR/><BR/>Stuck at home, "little else to do," so you come to a message board and try to convince everyone how great you are... even when everyone here can tell that what little knowledge you have is limited to the nuts and bolts side of transactions and that your ability to see the big picture is completely lacking.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-6493294721755776062007-07-16T09:12:00.000-04:002007-07-16T09:12:00.000-04:00"Some of you might remember me talking last year a..."Some of you might remember me talking last year about buying lots in waterfront communities that did not "perc", but sewer had been approved. Well, they have tripled in value."<BR/><BR/>If that's the case, congratulations. I do remember you mentioning those, and it did seem like a good idea.<BR/><BR/>But really, you really would have been able to make your case better if you were more polite at the beginning and if you didn't defend Lance, who has humiliated himself repeatedly here. <BR/><BR/>It really seems you are resentful of David J's blogging success because he's "just a renter" and you have some sort of weird irrational dislike of those of us who wisely chose to forgo buying in the crazy market of 2005. <BR/><BR/>I'm going to be nice to you this time to see if you have the character to actually have a civil conversation.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-16058155180449932902007-07-13T22:16:00.000-04:002007-07-13T22:16:00.000-04:00Well here in NY, people seem to still be in a real...Well here in NY, people seem to still be in a real estate frenzy. ABC reports that people are buying parking spaces to flip.<BR/><BR/>Pay $225,000 for a Parking Space<BR/>http://inventorspot.com/articles/have_money_burn_pay_225000_parking_spot_5679Anonymoushttps://www.blogger.com/profile/11772302914848021935noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-60177685166534567202007-07-13T11:42:00.000-04:002007-07-13T11:42:00.000-04:00oops! That last comment was from me.va_investorp....oops! That last comment was from me.<BR/><BR/>va_investor<BR/><BR/>p.s. re making a couple hundred in 2006. Some of you might remember me talking last year about buying lots in waterfront communities that did not "perc", but sewer had been approved. Well, they have tripled in value. You see, there is really no bad time to buy real estste - if you have some vision and brains.<BR/><BR/>And I am not a "criple" - not hardly. I am a Hall of Fame athlete from my alma mater. And I am not yet in my 50's.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-17402227283448969122007-07-13T11:23:00.000-04:002007-07-13T11:23:00.000-04:00anon and keith,Try to read section 1031 of the IRC...anon and keith,<BR/><BR/>Try to read section 1031 of the IRC (that is Internal Revenue Code) and see if you can figure out what I mean by "no new money".<BR/><BR/>It's not rocket science. Try not to comment on matters of which you have no understanding. It just makes you look foolish to venture into the, not so complex, aspects of real estate of which you are ignorant.<BR/><BR/>re: the Historic house in Herndon that went at auction last year for 540K.<BR/><BR/>Can you really dismiss comps with asking prices of 1.1 million and 989K as irrelevant? If so, you may as well sit back and wait for the 50% crash because you don't have the intellectual capablility to participate in this (or any) market.<BR/><BR/>re: my ability to make millions in a hot, cold, or average market.<BR/><BR/>This is beyond the scope of your limited experience and understanding.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-48652331458876269412007-07-12T22:23:00.000-04:002007-07-12T22:23:00.000-04:00"From what I've seen of Lance, he doesn't have muc..."From what I've seen of Lance, he doesn't have much knowledge of those areas either!"<BR/><BR/>But he makes me laugh every time! Could be a good clown...<BR/><BR/>B747Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-31071374045978225952007-07-12T07:48:00.000-04:002007-07-12T07:48:00.000-04:00"When I hear expressions like "going straight to t..."When I hear expressions like "going straight to the moon" it only serves to remind me (and every other knowledgeable person out there) why BHs are having such a hard time buying a home. They really can't understand that a home is NOT a financial investment ... at least not in the shortterm. "<BR/><BR/>Reading posts like this one make it clear why you ended up working as a computer tech rather than some kind of white collar job.<BR/><BR/>Your reading comprehension just plain sucks. <BR/><BR/>Just a week ago or so you were using a webpage to estimate the value of your house and trying to brag about how much "equity" you have... now that the stats are out for June, and once again it is obvious to everyone but you that houses across the area, including your neighborhood are falling.<BR/><BR/>Now you are going back to the whole: "so what if I overpayed for my house? I don't look at it as an investment so throwing away money is no big deal!"<BR/><BR/>You are doing the equivelent of telling someone to run out and buy a new car today even though they will be on sale next month because "cars aren't an investment."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-37670970633294844902007-07-11T11:29:00.000-04:002007-07-11T11:29:00.000-04:00When I hear expressions like "going straight to th...When I hear expressions like "going straight to the moon" it only serves to remind me (and every other knowledgeable person out there) why BHs are having such a hard time buying a home. They really can't understand that a home is NOT a financial investment ... at least not in the shortterm. Yes, over the longterm one receives many financial and other returns from being a homeowner ... But, these returns are only made possible by the non-quantifiable, non-financial returns one receives throughout the course of homeownership. These returns begin with "stability", "having a stake in one's immediate neighborhood and larger community", "having the choice to live as one chooses in one's own home ... including choosing the color paint you want on the walls", and "knowing that you --- and only you --- can decide how long you can stay where you're at". Yes, these are all individual "intangibles" ... But when compound over the years, they allow you to live a life that brings with it many returns ... including financial ones.<BR/><BR/>Being concerned over whether the value of one's home has "shot to the moon" or "crashed" over a 2 year period indicates that this anonymous doesn't understand the true value of homeownership.Lancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-33097903451682185312007-07-10T10:38:00.000-04:002007-07-10T10:38:00.000-04:00It is funny watching lance try to justify over-pay...It is funny watching lance try to justify over-paying on emotional grounds. <BR/><BR/>"Just because houses are a terrible value right now and prices are falling is no reason not to rush in as fast as you can and buy something! <BR/><BR/>What do you care if you pay 20% more than you needed to for a house? Just use an interest only loan! <BR/><BR/>The important thing to remember is overpaying tens and tens of thousands of dollars is no big deal provided your self-worth is tied to your house!" -what lance is really saying<BR/><BR/><BR/>BTW, latest MRIS numbers are out.<BR/><BR/>More declines in DC, 20009(lance's zip), and the metro area in general.<BR/><BR/>Everywhere but Lance's house...that one is going straight to the moon!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-41191344003596234022007-07-08T16:44:00.000-04:002007-07-08T16:44:00.000-04:00"listed at 1.1 million and 989K.nuff said."Transla..."listed at 1.1 million and 989K.<BR/><BR/>nuff said."<BR/><BR/>Translation: I don't know the difference between listing and actual sales prices, but I still look down on those who do!<BR/><BR/>NOW that's 'nuff said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-11062333326730003652007-07-08T16:42:00.000-04:002007-07-08T16:42:00.000-04:00"Lance follows certain areas of DC of which I have..."Lance follows certain areas of DC of which I have no knowledge and therefore can't comment."<BR/><BR/>From what I've seen of Lance, he doesn't have much knowledge of those areas either!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-26627239097721535982007-07-08T15:15:00.000-04:002007-07-08T15:15:00.000-04:00Va_Investor looks at property purchases as investm...Va_Investor looks at property purchases as investments because that is what they are for her - INVESTMENT i.e. a way to make her money work for her. ... Notable exceptions for her are her primary residence and her beach house. As she's mentioned many a time, she's not looking to make money on the beach house. She could have, but that would negate the reason she bought it. Consequently, when Va_Investor says she didn't buy in 2005 (or rather says she didn't buy much in 2005) she is speaking as an investor ... and not as a propective homeowner like the average bubblehead posting here. Whether she bought or not as an investor is irrelevant to a prospective homeowner. As I've tried infinitum to explain in earlier postings, the objectives and focus of a prospective homeowner shouldn't be mixed up with the objectives and focus of an investor. One doesn't buy a home as an investment... one buys it as a place to live in for the long term. There are many many differences between the two. <BR/>Among them: an investor can decided from one day to the next to "just sell" and make a profit ... a homeowner cannot. A homeowner has lots of other considerations such as "where will the kids go to school if we sell this house?" ... "where will we move to?" etc. An investor looks at a single property and makes buy/sell decisions based on one thing profit from the transactions. A homeowner has to look at a whole range of things and decide "Will this home give me what I want from a home and can I afford it?" A homeowner cannot look at one property in isolation. I.e., a homeowner cannot look at a property and say "Can I buy it for low and resell it" without considering what it'll cost to live elsewhere ... what it will cause in terms of life disruption, etc. A homeowner just needs to minize their housing costs over the longterm in a place that suits their needs. That's a whole different kettle of fish than what an investor is doing. Mixing the two objectives and thinking one is "an investor" is what will get prospective homeowners in trouble. Someone who understands what being a homeowner means won't for example be taking on an ARM or an Interest Only loan that they don't reasonably think they'll be able to afford when they reset. However, I really think bubbleheads have a problem understanding this distinction ... which is why they constantly like to throw up in my face the irresponsible buyers that HAVE bought irresponsibly. They can't seem to understand that they irresponsible buyers were trying to act like investors ... and not like homeowners. Va_Investor has done well investing ... and being a homeowner ... And one is wise to listen to her advice in both matters. But one has to be able to differentiate between the two activities ... and NOT confuse one for the other.Lancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-69666072001960717142007-07-08T08:43:00.000-04:002007-07-08T08:43:00.000-04:00"BTW - I stand by that one sentence you managed to..."BTW - I stand by that one sentence you managed to find. I have made a fortune buying in 2004 and 2005 (and, even, a couple hundred K in 2006)."<BR/><BR/>Uh huh... first you say you have put no new money into the market since 2002... then you say you made a fortune buying in 2004 and 2005. You can't even keep your story straight. <BR/><BR/>You are a perfect example of an "investor" who has tricked herself into believing that you are actually talented when the reality is you would have to be brain dead NOT to make a profit buying houses during the run-up to the biggest RE bubble in decades.<BR/><BR/>"If you think that I am "trapped" in my house, you are misinformed."<BR/><BR/>I am talking about you being a cripple. Do you think maybe you would be more on top of things if you could get out more?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-48526619501146923782007-07-06T10:41:00.000-04:002007-07-06T10:41:00.000-04:00Update of my prior post:See Bubblesphere Roundupp...Update of my prior post:<BR/><BR/>See Bubblesphere Roundup<BR/><BR/>posted by David August 27, 2006 at 7:50 AM.<BR/><BR/>My comment about "never a bad time to buy RE" is posted at 12:52 pm on August 28, 2006.<BR/><BR/>Also, check the MLS. Two historic homes for sale in Herndon (comps of Auction house - but not as nice) listed at 1.1 million and 989K.<BR/><BR/>nuff said.<BR/><BR/>va_investorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-11717673571817794612007-07-06T09:44:00.000-04:002007-07-06T09:44:00.000-04:00Anon 9:42Please reference the time of David's post...Anon 9:42<BR/><BR/>Please reference the time of David's post in August of '06. I'm not about to go thru 1000's of comments looking for the one sentenced you cherry-picked.<BR/><BR/>BTW - I stand by that one sentence you managed to find. I have made a fortune buying in 2004 and 2005 (and, even, a couple hundred K in 2006).<BR/><BR/>If you think that I am "trapped" in my house, you are misinformed.<BR/><BR/>Got popcorn?<BR/><BR/>Va_Investor<BR/><BR/>p.s. Lance follows certain areas of DC of which I have no knowledge and therefore can't comment. It would be refreshing if those who have no knowledge (such as you) showed similar restraint.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-76949374607428203702007-07-05T08:30:00.000-04:002007-07-05T08:30:00.000-04:00Lance said... “Wow ... So you compare buying a dep...Lance said... <BR/>“Wow ... So you compare buying a depreciable asset like a car with buying a non-depreciable asset? ... “<BR/><BR/>But “Lance”, it’s never been a better time to buy. Historically, automobiles are more affordable today than they have ever been. They’re not making any more automobiles (in Norfolk), better get in now before you’re priced out. And this Sunday only, buy now and take advantage of the EZ financing. You know you’re throwing money away renting a seat on the metro when you could buy now and lock in your monthly payments.roberthttps://www.blogger.com/profile/10354810363004791622noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-64585269197421433762007-07-04T12:09:00.000-04:002007-07-04T12:09:00.000-04:00"I even divulged that I wasn't buying and hadn't p..."I even divulged that I wasn't buying and hadn't put "new money" in the market since 2002 (except for tremendous bargains). Please explain how my 2005 predictions of a Market Correction of 25 -40% was coming was "completely wrong"."<BR/><BR/><BR/>In other words, even Investor thinks Lance is full of it and that David J was right.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-58692666815356181252007-07-04T00:42:00.000-04:002007-07-04T00:42:00.000-04:00"Show me where I told anyone to buy in 2005." "In ..."Show me where I told anyone to buy in 2005." <BR/><BR/>"In this vein, I do agree with Lance that there is never a "bad" time to buy - just bad deals." VA_Investor<BR/>Aug 28 2006<BR/><BR/>"I'll expect your rent check by the 5th. YOU are the joke."<BR/><BR/>I hope you are looking forward to living another month trapped in your house. <BR/><BR/>You don't get out and around all that much these days do you?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-25483844547235491362007-07-03T18:25:00.000-04:002007-07-03T18:25:00.000-04:00OK, I'll bite,Please Mr. Anon,Show me where I told...OK, I'll bite,<BR/><BR/>Please Mr. Anon,<BR/><BR/>Show me where I told anyone to buy in 2005. I even divulged that I wasn't buying and hadn't put "new money" in the market since 2002 (except for tremendous bargains). Please explain how my 2005 predictions of a Market Correction of 25 -40% was coming was "completely wrong".<BR/><BR/>You, my friend, are the idiot. Yes, please tell me that I "ran away". I'll expect your rent check by the 5th. YOU are the joke.<BR/><BR/>Va_InvestorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-86206390857756057932007-07-03T17:29:00.000-04:002007-07-03T17:29:00.000-04:00Lance's Quote,"Oh yeah, your walls and roof defini...Lance's Quote,<BR/>"Oh yeah, your walls and roof definitely are depreciable ... But the land on which they sit isn't."<BR/><BR/>Guess you never heard of the following places:<BR/>Centralia PA<BR/>Sultan Sea CA<BR/>Any house near a superfund site.<BR/>Fricks Lock PA (A stones throw away, literally, form a nuculear power plant. Feds forced everybody out due to the danger of radiation.)<BR/><BR/>How much would a house so close to a nuculear power plant, future prison or future junk yard be worth?<BR/><BR/>Just asking.....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-32599620786737759462007-07-03T11:29:00.000-04:002007-07-03T11:29:00.000-04:00Anonymous said... "I bought a car 18 months ago fo...Anonymous said... <BR/>"I bought a car 18 months ago for $40,000. I have not changed the oil, or rotated the tires, I have not even washed the grim and road salt off. I know that with buyer incentives that this years model can be purchased for $38,000, but mine is up for sale for $50,000. Thats a nice profit for me of 25%, but i'm going to give the buyer a FULL tank of gas and a new fresh scent so you will never smell any cigar smoke. Any takers?<BR/><BR/>JOhn"<BR/><BR/>Wow ... So you compare buying a depreciable asset like a car with buying a non-depreciable asset? ... Oh yeah, your walls and roof definitely are depreciable ... But the land on which they sit isn't. Once you grasp that concept, you'll be on the way to understanding why your analogy doesn't hold water. Good luck!Lancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-85628225840297043932007-07-03T07:10:00.000-04:002007-07-03T07:10:00.000-04:00Lots of interesting things going on over at the ho...Lots of interesting things going on over at the housing tracker website. I like the "old" housing tracker data, as it goes back further. Asking prices are down about 10% YOY, and about 15% from their peak in late 2005. With inflation, that means real asking prices are probably about 20% down from their peak. <BR/><BR/>Not too bad, but I think they have a long way more to go.<BR/><BR/>People who bought in 2005 must be really hating life right now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-80649418314554122382007-07-03T02:56:00.000-04:002007-07-03T02:56:00.000-04:00John - only if I can go I/O on that baby. Would y...John - only if I can go I/O on that baby. Would you be willing to throw in some fuzzy dice?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-30331124047429437482007-07-02T21:56:00.000-04:002007-07-02T21:56:00.000-04:00I bought a car 18 months ago for $40,000. I have n...I bought a car 18 months ago for $40,000. I have not changed the oil, or rotated the tires, I have not even washed the grim and road salt off. I know that with buyer incentives that this years model can be purchased for $38,000, but mine is up for sale for $50,000. Thats a nice profit for me of 25%, but i'm going to give the buyer a FULL tank of gas and a new fresh scent so you will never smell any cigar smoke. Any takers?<BR/><BR/>JOhnAnonymousnoreply@blogger.com