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Thread: Real Estate Crash thread
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10-15-2021, 02:08 PM #18626
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10-15-2021, 03:02 PM #18627Good-lookin' wool
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10-15-2021, 03:34 PM #18628
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10-15-2021, 05:21 PM #18629Registered User
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- Apr 2010
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10-15-2021, 06:42 PM #18630
^^ wow. is that a special elective in architecture school? Can't remember ever seeing something quite like it in person
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10-15-2021, 06:50 PM #18631
That's not guido.
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10-15-2021, 06:55 PM #18632
I don't mind those houses. Though admittedly, they'd look out of place next to a 200 year old farmhouse.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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10-15-2021, 07:02 PM #18633Registered User
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The second one probably looks more approachable under the correct aspect ratio.
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10-15-2021, 07:09 PM #18634
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10-15-2021, 07:14 PM #18635
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10-15-2021, 07:40 PM #18636Registered User
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10-15-2021, 07:53 PM #18637
I actually kinda like it.
But I would want wood floors, for sure.
What are the odds that there are two Teslas in that garage?Forum Cross Pollinator, gratuitously strident
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10-15-2021, 07:58 PM #18638Registered User
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Might be now but a diesel truck and merc w prior owner.
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10-15-2021, 08:20 PM #18639
I like it. Everything except the afterthought sticking off the right side.
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10-15-2021, 08:44 PM #18640
I think it might be an architectural ‘tip of the hat’ to the iconic cantilevered houses in the Hollywood hills. But maybe not.
Forum Cross Pollinator, gratuitously strident
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10-15-2021, 10:49 PM #18641
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10-16-2021, 09:23 AM #18642
That the box on the upper right must detach, and can roam the countryside on its mechanical legs, right? Otherwise, what's the point?
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10-16-2021, 09:37 AM #18643Registered User
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I like the box, and yeah, it need to be more functional. I hope there's a rooftop deck or something. I would at least put in an escape hatch via fireman pole (which could of course double as a stripper pole).
We are putting our rental condo on the market and seeing what happens. Market is just too hot right now. Gonna roll the dice and see if we can't 1031 the gains into something better. If not, we will just pay the taxes and move on.
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10-16-2021, 11:00 AM #18644If not, we will just pay the taxes and move on.
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10-16-2021, 01:38 PM #18645
Man, I would think that an asset like a rentable ski area condo that has been locked into an inflation protected cost and is seeing double digit income increases practically every year is a stupid thing to sell. It's like those commercials trying to get you to cash out your "annuity" income (which, yeah, is fixed, usually) for a lump sum. "I want my money now!"
There are a lot of people in Summit county that bought condos there in the late eighties for what is now pocket change that may be living off the income of a few pretty well. Money machines.
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10-16-2021, 02:09 PM #18646Registered User
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Last edited by Name Redacted; 10-16-2021 at 02:46 PM.
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10-18-2021, 08:50 AM #18647
It's already tough out there trying to compete with Boomers and older Gen X'ers with cash. Back in the day you just how to compete with your fellow citizens, now you have to bid against the man.
https://finance.yahoo.com/news/zillo...160557830.html
Zillow, which acquired more than 3,800 homes in the second quarter, will stop pursuing new purchases for the remainder of the year as it works through a backlog of properties already in its pipeline.
“We’re operating within a labor- and supply-constrained economy inside a competitive real estate market, especially in the construction, renovation and closing spaces,” Jeremy Wacksman, Zillow’s chief operating officer, said in a statement. “We have not been exempt from these market and capacity issues and we now have an operational backlog for renovations and closings.”
Shares of Opendoor, one of Zillow’s competitors, jumped as much as 7.9% to $25.27 after the company said it was “open for business.”"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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10-18-2021, 09:00 AM #18648Registered User
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Zillow is funny. Last week my condo was worth $100k less than I listed it for. Today, their "Zestimate" changed to exactly the price that we were asking for. What a co-inky-dink!
Appraisals themselves are also complete bullshit too though. Our condo appraised a few months ago for $150K less than we are selling it for. Pretty sure the guy just cut and pasted one of the comps from our building without taking into account the fact that our unit was way different and that comp was from last summer.
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10-18-2021, 09:13 AM #18649
I mean, foundationally appraising is pretty fucked as the real price is "whatever the market will bear" which you don't know until after. Given the number of variables, there's not a lot of good ways to get to a number in supply constrained situations or when there's a low number of comps. Not to mention it's somewhat window dressing given that someone that consistently underappraises will probably get dropped by banks, even with good reason as they'll just package and sell the loan anyhow.
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10-18-2021, 09:41 AM #18650
yeah, I noticed that when we listed our house 3 months ago, the zestimate remarkably changed to match our asking price.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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