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  1. #15076
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    Feb 2008
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    Quote Originally Posted by Ted Striker View Post
    Yeah, I thought that might be the case, but for the purpose of this thread it was more entertaining to frame it as real estate to the moon lunacy.
    Hah, it's still real estate to the moon lunacy given the premium paid on the initial listing...and the fact they thought $895k was a possibility.

  2. #15077
    Join Date
    Dec 2012
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    13,265
    Two houses away from me is a house that may be cursed. It was a new build 7 yrs ago. Everyone who has moved in there in the last 7 yrs has gotten divorced. It's on its 4th owner. They just put in a big pool. It took a year to build. The pool guy is there almost every day now and I'm not sure if he's fixing problems with the pool or banging the wife.
    "timberridge is terminally vapid" -- a fortune cookie in Yueyang

  3. #15078
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    Sep 2006
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    5,591
    Quote Originally Posted by MontuckyFried View Post
    With all this news of Blackrock lately, mark my words. WHEN the bubble bursts (and it will), investment firms like them who have big ties to Washington will be getting bailed out via YOUR tax dollars. While all the recent home buying individuals get skrewwwwwwd. Just like the '08 crash. All the big firms got bailouts. Homeowners got bent over and still had to foot the bill for those Wall Street scumbags.

    While I totally understood the ire and sentiment behind the Occupy Wall Street movement back then, I've always felt that the anger's direction was actually misplaced. The anger instead SHOULD have been directed toward Washington and all the blatant cronyism that encourages this system to begin with.

    Don't mean to thread drift too much. I could be wrong, but after we've all seen this sort of thing play out time and time again, I just can't see it going down any other way.
    Not sure it will burst. Maybe it will deflate rapidly. Maybe around the margins where some folks over paid but with so much paid in cash, and with stupid low mortgage rates, it will take double digit job losses for people to have issues paying mortgages. I guess as they say, we shall see in due time.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  4. #15079
    Join Date
    Jan 2004
    Location
    North Vancouver
    Posts
    6,395
    It's finally a buyers market here in Vancouver.

    Nice little starter home here built in 1949 on a 55ft lot.

    https://www.realtor.ca/real-estate/2...enue-vancouver

    All yours for just $9,800,000 cad (that's $8,069,000 for our US friends).

  5. #15080
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    Oct 2002
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    Quote Originally Posted by shirk View Post
    It's finally a buyers market here in Vancouver.

    Nice little starter home here built in 1949 on a 55ft lot.

    https://www.realtor.ca/real-estate/2...enue-vancouver

    All yours for just $9,800,000 cad (that's $8,069,000 for our US friends).
    Zoned for towers? How would you like the little old ladyís house next door to be bought up by a developer when her kids put her in a home, and they proceeded to put up a fucking 18 story tower?? Wtf? Is that real?
    focus.

  6. #15081
    Join Date
    Oct 2002
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    Quote Originally Posted by Mustonen View Post
    Weíve put in an offer on a house. It feels like itís a pretty strong offer, but I guess weíll see. Iíve about rationalized myself to the conclusion that even if this is a bubble, itís very likely it isnít mitigating for a couple years which doesnít work for me, and chances are excellent that prices just plateau rather than actually decline.

    I dunno. Fingers crossed, though.
    And we got the fucking house!

    Should have lowballed.
    focus.

  7. #15082
    Join Date
    Dec 2004
    Location
    Where the sheets have no stains
    Posts
    16,432
    Congrats on your new home and the millstone.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

  8. #15083
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    Oct 2003
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    9,300ft
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    Quote Originally Posted by Mustonen View Post
    Zoned for towers? How would you like the little old lady’s house next door to be bought up by a developer when her kids put her in a home, and they proceeded to put up a fucking 18 story tower?? Wtf? Is that real?
    Well that is the density preached as the savior gospel by the city-living-for-all-affordable-environmentalists. You should rejoice when an 18 story tower went up next you... and also you should sell you SFH to a developer who will build a tower where your SFH was because anything else is selfish. Do you hate poor people or something? Perhaps, if you are bougie enough you will sell for enough to get the penthouse in the new tower.
    Quote Originally Posted by blurred
    skiing is hiking all day so that you can ski on shitty gear for 5 minutes.

  9. #15084
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    Jan 2004
    Location
    North Vancouver
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    Yes that house is in a specific area now zoned for towers and major density increase. Part of the Cambie Corridor Plan along the Canada Line. The Canada Line is our North / South transit line that links Vancouver to Richmond / YVR airport. It was semi fast tracked to finish for the 2010 Olympics. I'd have to go dig further to see the history on the Cambie Corridor Plan but it's not new news that there would eventually be towers surrounding the Kid Ed, Langara, Oakridge, Marine transit stops.

  10. #15085
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    Mar 2006
    Location
    Beaverton, OR
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    788
    Equitable Laws....putting the Large Equity Firms and Developers on equal footing with the residential home buyer?

    https://katu.com/news/local/oregon-l...ing-home-sales

  11. #15086
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    Oct 2002
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    Quote Originally Posted by sirbumpsalot View Post
    Equitable Laws....putting the Large Equity Firms and Developers on equal footing with the residential home buyer?

    https://katu.com/news/local/oregon-l...ing-home-sales
    I wrote letters on my last two home purchases and Iím certain that it played a significant factor in both. Wooley will tell you that sales is an emotional and irrational business.

    As a seller Iíd rather take the offer from the family than the investor.

    There were a couple times during the process that the realtors actively ran interference, and in a situation where I wasnít equipped to have those discussions they would be serving me well, maybe, but their goal isnít exactly to keep prices low, so Iím skeptical of more or less anything that they do.
    focus.

  12. #15087
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    Oct 2003
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    Quote Originally Posted by sirbumpsalot View Post
    Equitable Laws....putting the Large Equity Firms and Developers on equal footing with the residential home buyer?

    https://katu.com/news/local/oregon-l...ing-home-sales
    Letters from the average buyer are RACIST against all cash buyers and corporations!!!!

    Way to go Blackrock for using a deranged application of racialism based equity to actually strike against the economically disadvantage buyer.
    Quote Originally Posted by blurred
    skiing is hiking all day so that you can ski on shitty gear for 5 minutes.

  13. #15088
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    Mar 2006
    Location
    Beaverton, OR
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    788
    Quote Originally Posted by Summit View Post
    Letters from the average buyer are RACIST against all cash buyers and corporations!!!!

    Way to go Blackrock for using a deranged application of racialism based equity to actually strike against the economically disadvantage buyer.
    I find it odd that the national realtor assoc backs this....every realtor I've used has encouraged me to write a letter.

  14. #15089
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    Aug 2020
    Posts
    528
    Sellers and selling agents have reportedly become wary of these letters recently for fear of running afoul of discrimination laws and have been stripping them out of the offer package even if the buyer includes them.

  15. #15090
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    Oct 2003
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    Quote Originally Posted by sirbumpsalot View Post
    I find it odd that the national realtor assoc backs this....every realtor I've used has encouraged me to write a letter.
    A small donation from Blackrock probably changed their minds...
    Quote Originally Posted by blurred
    skiing is hiking all day so that you can ski on shitty gear for 5 minutes.

  16. #15091
    Join Date
    Nov 2011
    Location
    Missoula
    Posts
    232
    Quote Originally Posted by Mustonen View Post
    Zoned for towers? How would you like the little old lady’s house next door to be bought up by a developer when her kids put her in a home, and they proceeded to put up a fucking 18 story tower?? Wtf? Is that real?
    It would mean you're living in a winning lottery ticket. Like I have said many times on here, development INCREASES property values. I love my house, but for a sum of cash that means I would never have to work another day in my life... I'd be out. I could easily find a half mil place around here, buy a fucking sprinter and never kiss ass on another TEAMS call as long as I live.

  17. #15092
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    Oct 2002
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    Quote Originally Posted by RoooR View Post
    It would mean you're living in a winning lottery ticket. Like I have said many times on here, development INCREASES property values. I love my house, but for a sum of cash that means I would never have to work another day in my life... I'd be out. I could easily find a half mil place around here, buy a fucking sprinter and never kiss ass on another TEAMS call as long as I live.
    Good point is good.
    focus.

  18. #15093
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    Mar 2005
    Location
    Dystopia
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    13,717
    How do you build 18 stories on 6,000 foot lot?

    #PenisBuildingsMatter

  19. #15094
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    Oct 2003
    Location
    slc
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    14,125
    Quote Originally Posted by RoooR View Post
    It would mean you're living in a winning lottery ticket. Like I have said many times on here, development INCREASES property values. I love my house, but for a sum of cash that means I would never have to work another day in my life... I'd be out. I could easily find a half mil place around here, buy a fucking sprinter and never kiss ass on another TEAMS call as long as I live.
    Yep

  20. #15095
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    Jan 2010
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    2 hours from anything
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    Quote Originally Posted by Core Shot View Post
    How do you build 18 stories on 6,000 foot lot?

    #PenisBuildingsMatter
    You have to buy more than 1.

  21. #15096
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    788
    Quote Originally Posted by neufox47 View Post
    You have to buy more than 1.
    It looked like all the houses around it were $3-4M....wonder why this one was special

  22. #15097
    Join Date
    Jan 2008
    Location
    livin the dream
    Posts
    4,497
    Quote Originally Posted by Core Shot View Post
    How do you build 18 stories on 6,000 foot lot?

    #PenisBuildingsMatter
    https://en.m.wikipedia.org/wiki/111_West_57th_Street

    84 stories on 20k sf...


    Sent from my iPhone using TGR Forums
    Best Skier on the Mountain
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    Squaw Valley, USA

  23. #15098
    Join Date
    Mar 2008
    Location
    the ham
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    9,794
    Quote Originally Posted by old_newguy View Post
    Sellers and selling agents have reportedly become wary of these letters recently for fear of running afoul of discrimination laws and have been stripping them out of the offer package even if the buyer includes them.
    Not in this state. Listing agents are legally obligated to bring everything to the sellers. But you're right about the agencies not liking the sob story letters.

    For starters, let's say there are two offers with letters, one from the Joneses, and one from the Singhs. Without any other information race is already in play. Or one of the letters says something about church. Or "my husband is so excited about being able to walk to his new job at Dewey, Cheatham & Howe" implying that their offer is less likely to fall apart. Plus, people just straight up lie.

  24. #15099
    Join Date
    Jan 2005
    Location
    cb, co
    Posts
    4,156
    "Love letters" sound good and all, but they are definitely problematic and I have not advised clients to use them or read them.

    "Our family looks forward to many Christmas mornings spent by the fire". That may sound innocent but that little sentence is problematic. Family status is protected- someone shouldn't pick this buyer because they have a family over someone who is single. And then religion is in the mix, too. This buyer isn't supposed to get the house just because they're Christians who celebrate Christmas, and not atheist/Buddhist/Islamic etc. That's why our legal counsel have advised against them...

  25. #15100
    Join Date
    Mar 2008
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    the ham
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    9,794
    Quote Originally Posted by Mustonen View Post
    And we got the fucking house!

    Should have lowballed.
    ha ha, congrats!

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