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  1. #17751
    Join Date
    Mar 2008
    Location
    northern BC
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    25,913
    Quote Originally Posted by liv2ski View Post
    Maybe the Chinese know something we don't? Their crystal ball obviously sees way into the future. https://betterdwelling.com/city/vanc...-will-worse-us

    Attachment 383613
    i think its called " I got all this stolen money that i need to park somewhere, so I will just buy a house in Vangroovy, doesnt matter what is costs ... not my money "
    Lee Lau - xxx-er is the laziest Asian canuck I know

  2. #17752
    Join Date
    Mar 2008
    Location
    the ham
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    10,812
    Quote Originally Posted by altasnob View Post
    CA joins OR as the only states who banned single family home zoning on a statewide level.

    https://www.nytimes.com/2021/08/26/b...te-bill-9.html
    The city of Bellingham is attempting something similar, but through a temporary ordinance from city hall that prohibits under-development. If a lot is zoned multi, you can't build a SFH.

  3. #17753
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    16,538
    Quote Originally Posted by altasnob View Post
    CA joins OR as the only states who banned single family home zoning on a statewide level.

    https://www.nytimes.com/2021/08/26/b...te-bill-9.html
    I could not read due to their paywall, but that is an interesting development. Perhaps if the RE market/building business tanks I can actually add a 2nd unit.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  4. #17754
    Join Date
    Aug 2008
    Location
    Where the climate suits my clothes.
    Posts
    5,212
    Quote Originally Posted by Toadman View Post
    It's 1 AM, do you know where your mortgage rate is?

    https://finance.yahoo.com/news/now-a...143020445.html
    My guess would be a similar percentage don't know (or care about) their credit score, and likely wouldn't be candidates for refinance to begin with.

    Much work with bank(s) to get the initial loan with poor credit so you can get a home is worth the hassle, but not a fun process to repeat. Refinancers don't wanna mess with it and most won't do the leg work to get it done.

    (Now own our home outright, but started out in a tough spot so can commiserate).

  5. #17755
    Join Date
    Feb 2008
    Posts
    1,832
    Quote Originally Posted by liv2ski View Post
    I could not read due to their paywall, but that is an interesting development. Perhaps if the RE market/building business tanks I can actually add a 2nd unit.
    If you turn off Javascript for the NYT, you should be able to see the article. Some pictures won't load though.

  6. #17756
    Join Date
    Mar 2006
    Posts
    17,921
    Zillow owned house going for less than they paid two months ago.
    https://www.zillow.com/homedetails/3...18614239_zpid/

  7. #17757
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    14,795
    Ha. That’s fucking awesome.

    Zillow buys houses and loses money, but makes it up on volume!
    “I’m a subhuman jizz monkey”

    Thx mods. It’s an awesome signature.

  8. #17758
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
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    2,940
    Isn't Zillow the realtor on Zillow owned homes, just like Redfin? Since they get commission, are they really going to lose much money? Plus, think of all the buyer data they will get off of this. I think this is Zillow and Redfin's grand plan.

  9. #17759
    Join Date
    Mar 2006
    Posts
    17,921
    Here's another. It's interesting that Zillow no longer lets you search by recent price change. After transaction costs at the list price they have to be under water $50k plus on this one. Their stock is down 50% since March.

    https://www.zillow.com/homedetails/3...47808031_zpid/

  10. #17760
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    Aug 2007
    Location
    At the beach
    Posts
    16,538
    Quote Originally Posted by 4matic View Post
    Here's another. It's interesting that Zillow no longer lets you search by recent price change. After transaction costs at the list price they have to be under water $50k plus on this one. Their stock is down 50% since March.
    Fuck those greedy cunts. I hope they get crushed.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  11. #17761
    Join Date
    Nov 2005
    Location
    Down In A Hole, Up in the Sky
    Posts
    31,475
    Don’t you fear, kids, something newer, slicker, and even more predatory will come along and upend Zillow, just you wait.
    Forum Cross Pollinator

  12. #17762
    Join Date
    Mar 2006
    Posts
    17,921
    Quote Originally Posted by rideit View Post
    Don’t you fear, kids, something newer, slicker, and even more predatory will come along and upend Zillow, just you wait.
    Blackstone has that power

  13. #17763
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    14,795
    Yeah, I was gonna say blackrock

    Fuck those evil fucks.

    They make Goldman Sachs look like mother Theresa.

    I always though black stone was a subsidiary. Nope.

    Just a sister company of two sociopathic freaks.

    =======
    Blackstone is the largest landlord in the U.S. as well as the largest real estate company worldwide, with a portfolio worth $325 billion. In June 2021, Blackstone agreed to buy Home Partners of America, a company that rents single-family houses, and its 17,000 houses, for $6 billion.

    Blackstone and BlackRock sound alike for a reason. Blackstone’s co-founder, billionaire Steve Schwarzman, said during an interview on Squawk Box that he and Fink “started in business together. We put up the initial capital.” BlackRock used to be called Blackstone Financial, but Fink went off on his own. Schwarzman said, “Larry and I were sitting down and he said, ‘What do you think sort of about having a family name with ‘black’ in it,’” and BlackRock was born.

    Blackstone became notorious for swooping in after the housing bubble burst and buying tens of thousands of homes at deeply discounted prices. They then turned them into single-family rentals, taking advantage of the recession.

    In 2017, Bloomberg reported: “Blackstone built its rental-home business with an advantage few if any other buyers could match: billions of dollars in credit from large banks. Its Invitation Homes subsidiary quickly became the largest single-family home landlord in the U.S., with 50,000 properties. Altogether, hedge funds, private-equity firms and real estate investment trusts have raised about $20 billion to purchase as many as 200,000 homes to rent.”

    Now, with many struggling due to yearlong business shutdowns and lockdowns, and home prices rising, many Americans are having difficulty finding affordable single-family homes to buy.
    “I’m a subhuman jizz monkey”

    Thx mods. It’s an awesome signature.

  14. #17764
    Join Date
    Mar 2005
    Location
    Dystopia
    Posts
    14,795
    https://www.lifestyleassetgroup.com/

    Yeah sure. Let me buy an overpriced home with random strangers in an LLC.

    What could go wrong?
    “I’m a subhuman jizz monkey”

    Thx mods. It’s an awesome signature.

  15. #17765
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    50,041
    Fractional ownership!

    The world is perfect. Appreciate the details.

  16. #17766
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    50,041
    Quote Originally Posted by rideit View Post
    Don’t you fear, kids, something newer, slicker, and even more predatory will come along and upend Zillow, just you wait.
    And yet, agents will still walk away with their 6%.

    The world is perfect. Appreciate the details.

  17. #17767
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
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    2,940
    S&P CoreLogic Case-Shiller Home Price Index released for June (most accurate statistic for state of housing market, but it lags two months). Top three year over year growth were Phoenix at 29.3%, San Diego at 27.1%, and Seattle at 25% (same top three for the last five months).

    To put in perspective, Seattle’s price growth set a new record for the third month in a row, blowing past the 18% year-over-year growth the region saw in 2005, before the housing crash.

    Nationally, home prices were up nearly 19% compared to a year earlier, the highest jump in more than 30 years of index data. Prices climbed by double-digit percentages in all 20 major cities the index tracks.

    But there are early signs of a cooldown. The Case-Shiller index shows while Seattle-area prices jumped about 5% from February to March, that monthly rate has been declining since. From May to June, prices increased 1.5%, according to the index.

    https://www.seattletimes.com/busines...back-to-earth/

  18. #17768
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    917
    Quote Originally Posted by altasnob View Post
    S&P CoreLogic Case-Shiller Home Price Index released for June (most accurate statistic for state of housing market, but it lags two months). Top three year over year growth were Phoenix at 29.3%, San Diego at 27.1%, and Seattle at 25% (same top three for the last five months).

    To put in perspective, Seattle’s price growth set a new record for the third month in a row, blowing past the 18% year-over-year growth the region saw in 2005, before the housing crash.

    Nationally, home prices were up nearly 19% compared to a year earlier, the highest jump in more than 30 years of index data. Prices climbed by double-digit percentages in all 20 major cities the index tracks.

    But there are early signs of a cooldown. The Case-Shiller index shows while Seattle-area prices jumped about 5% from February to March, that monthly rate has been declining since. From May to June, prices increased 1.5%, according to the index.

    https://www.seattletimes.com/busines...back-to-earth/
    Jeez....seems like Seattle housing has been going up 20% a year for the last 15 years.....

  19. #17769
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    50,041
    I'm pretty sure that in a year or two, there's going to be a ton of people trying to get out of homes they really don't like, for many reasons. Blows me away that so many homes have been bought so quickly without inspections or just patient thoughts about the neighborhood or other factors.

    The world is perfect. Appreciate the details.

  20. #17770
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    16,538
    Quote Originally Posted by sirbumpsalot View Post
    Jeez....seems like Seattle housing has been going up 20% a year for the last 15 years.....
    Back when we bought our properties I did the math assuming 3% appreciation on average. Turned out to be more like 6.75% compounded annually over the years. Frickin nuts.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  21. #17771
    Join Date
    Dec 2009
    Posts
    1,164
    Certainly not as bad as many of the popular areas, but this was reporting today in Missoula.

    Data released this month from the Missoula Organization of Realtors showed the median price of a house in the urban area from January to July 2020 was $332,000, but in the same period this year, it was $435,000, a roughly 30% increase. The MOR also noted the average days on the market dropped from 119 to 85.

  22. #17772
    Join Date
    Aug 2011
    Location
    panhandle locdog
    Posts
    7,430
    Condo down the street from me sold for $289k 2 years ago. Listed yesterday for $749k. Curious if it sells.

  23. #17773
    Join Date
    Mar 2008
    Location
    the ham
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    10,812
    Quote Originally Posted by dan_pdx View Post
    2314 Harris Ave
    Closed at 700k and the predatory douchebag buyer is renting it out at $3500/mo

    Ad: Minimum Qualifications: 700+ credit score, no evictions, no felonies against person or property in the last 5 years, $10,500.00 monthly income and 3 years good rental history

  24. #17774
    Join Date
    Nov 2003
    Location
    none
    Posts
    7,579
    Quote Originally Posted by Ted Striker View Post
    Closed at 700k and the predatory douchebag buyer is renting it out at $3500/mo
    Yeah, how dare the douchebag, breaking even.

  25. #17775
    Join Date
    Mar 2008
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    the ham
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    You must be new in this thread. Everyone is either a take pity on little ole me or a wealthy predator.

    It's definitely a strange play. 6% gross return assuming he can get full year occupancy, and 3500 is above average in this town.

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