Real Estate Crash thread

[sirbumpsalot]

Never knew this was a thing, unless you are on a bike.

Picture the guy who is just leaving a stressful day at work with his boss riding his ass and now with a wife and kids who are waiting at home to pounce on him when he arrives....every minute in between probably counts.

[MontuckyFried]

Picture the guy who is just leaving a stressful day at work with his boss riding his ass and now with a wife and kids who are waiting at home to pounce on him when he arrives....every minute in between probably counts.

Bingo. And now with so many working from home, now many get it on both fronts 24/7 with no break or buffer. Even worse yet is that due to how overly connected we are these days, even way beyond office hours, bosses and co-workers be texting, e-mailing, group chatting, etc. And since you work from home now, they KNOW you're "at the office" and can respond to their requests. And when you're trying to get work done during office hours, you have kids making noise in the background all day, needing you for various reasons, and the significant other bugging you ever two seconds for every mundane thing.

There used to be a much more distinct boundary between work life and home life.

[RoooR]

Never knew this was a thing, unless you are on a bike.

When I lived in Chicago and biked 12 miles each way getting in shouting matches with cabbies on the ride home was a pretty key part of my unwind at the end of the day. Went back recently and now its all separated bike lanes and fancy protected intersections. Current crop of commuters are getting soft.

[Toadman]

Never knew this was a thing, unless you are on a bike.

This.

[AdironRider]

i think "soft cues" is an apt term that describes what ive had trouble putting into words. I feel like the folks still full-time WFHing are falling behind (at my company) as its harder to mentor someone if you have to pick up the phone every time to give them some advice, or they dont get to overhear you on a call deal with a situation. Or they arent physically there "in the shit" with you when a fire drill happens, nor are they there afterwards when your sharing a beer on friday afternoon talking smack about the client that caused the fire drill.

Company culture was a HUUUUUGE thing before the pandemic- its why millions were spent on lavish corporate campuses, wacky open office layouts, employee retreats, fringe benefits, etc. The importance of company culture didnt just go away. What we learned is that good, strong company culture isnt neccessary to productive employees in the short term... but when the newness of WFH wears off, the fear of a global meltdown ceases, and people are still pulling 60hr workweeks with lots of stress and no time to unwind on the commute home, not seeing their coworkers for HH or lunch and losing the sense of community that good companies have, i bet folks want to come back to work. How many people love what they do? how many people get paid enough to do something they hate and still be happy? Not that many... so its usually the company culture and comradery with coworkers that make people want to work hard and be happy with their careers and company. At least that has been my experience personally, and with the large majority of people i know. YMMV.

I really hated being stressed out about work in my own house. I went back to the office ASAP because of it.

[AdironRider]

On another note, anyone know anything about Corinth VT?

[Harry]

SOLD !

Way over asking price. Whiteroom Guardian earned a nice commission on the deal. Poor guy thought he was going to hot lap Big Sky’s bike park yesterday, he ended up stopped on the side of the trail wearing body armor and a full face helmet while jockeying a cell phone and a laptop dealing with insane people. 24 hours of madness. Worth it, I’m happy.


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[Norseman]

SOLD !

Way over asking price. Whiteroom Guardian earned a nice commission on the deal. Poor guy thought he was going to hot lap Big Sky’s bike park yesterday, he ended up stopped on the side of the trail wearing body armor and a full face helmet while jockeying a cell phone and a laptop dealing with insane people. 24 hours of madness. Worth it, I’m happy.


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Insane.

Congrats and good luck with the next phase, Harry.

[Danno]

Yeah Harry!

[Ted Striker]

Right on.

[old_newguy]

Bingo. And now with so many working from home, now many get it on both fronts 24/7 with no break or buffer. Even worse yet is that due to how overly connected we are these days, even way beyond office hours, bosses and co-workers be texting, e-mailing, group chatting, etc. And since you work from home now, they KNOW you're "at the office" and can respond to their requests. And when you're trying to get work done during office hours, you have kids making noise in the background all day, needing you for various reasons, and the significant other bugging you ever two seconds for every mundane thing.

There used to be a much more distinct boundary between work life and home life.

I’ve had a nice quiet house to myself all day for 12 months with the kids in daycare. Most people’s kids will be back in school full time in the fall.

None of that other shit goes away if you are in an office. The line between home and office was just as blurry for me pre-pandemic.

I did get used to my commute wind down when I had an hour commute home, but wouldn’t trade it for the zero commute I have now.

Not looking forward to the office with the constant drop ins by the coworkers, cubicle land, overhead fluorescent lighting and noise.

californiagrown does have a point about newer staff and working from the office versus remote. There is a lot that is more efficient by sitting right next to someone. However, once you hit a certain point the office is less efficient because of the interruption.

Firms that figure out the balance and promote managers that don’t need to micromanage will succeed.

We are still full time remote with no current plan in place to return to the office. Sounds like two days WFH and 3 in the office will be the norm based on what has been communicated so far, but it also sounds like new guidance from the mothership may be coming to allow for more WFH to be competitive.

[MontuckyFried]

SOLD !

Congrats!!! And to Whiteroom Guardian as well. Well done!

With the proceeds, now you can go full bro with ALL the GOTOS on your new Bronco!

[spanky]

SOLD !

Way over asking price. Whiteroom Guardian earned a nice commission on the deal. Poor guy thought he was going to hot lap Big Sky’s bike park yesterday, he ended up stopped on the side of the trail wearing body armor and a full face helmet while jockeying a cell phone and a laptop dealing with insane people. 24 hours of madness. Worth it, I’m happy.


Sent from my iPhone using TGR Forums

Must’ve been those exclusive Never appliances!

Congrats to you and WRG!

[schuss]

i think "soft cues" is an apt term that describes what ive had trouble putting into words. I feel like the folks still full-time WFHing are falling behind (at my company) as its harder to mentor someone if you have to pick up the phone every time to give them some advice, or they dont get to overhear you on a call deal with a situation. Or they arent physically there "in the shit" with you when a fire drill happens, nor are they there afterwards when your sharing a beer on friday afternoon talking smack about the client that caused the fire drill.

Company culture was a HUUUUUGE thing before the pandemic- its why millions were spent on lavish corporate campuses, wacky open office layouts, employee retreats, fringe benefits, etc. The importance of company culture didnt just go away. What we learned is that good, strong company culture isnt neccessary to productive employees in the short term... but when the newness of WFH wears off, the fear of a global meltdown ceases, and people are still pulling 60hr workweeks with lots of stress and no time to unwind on the commute home, not seeing their coworkers for HH or lunch and losing the sense of community that good companies have, i bet folks want to come back to work. How many people love what they do? how many people get paid enough to do something they hate and still be happy? Not that many... so its usually the company culture and comradery with coworkers that make people want to work hard and be happy with their careers and company. At least that has been my experience personally, and with the large majority of people i know. YMMV.

So, how do we build company culture across time zones? Offices? This is kinda bullshit. Is it harder to build it remotely? Absolutely, you have to use different tools and approaches. Can you still do it? Yes, definitely. Your employees will also appreciate that you don't waste their time and money on stupid retreats to sing kumbaya because some execs brother did it once and loved it because they banged one of the trainers there. Anyone who thinks you "need to be in the office" to do anything in financial services that's not physical data center work loves the smell of their own farts.
Don't get me wrong - I enjoy going to an office, seeing people and many of the conveniences of corporate campuses, but in no way do I need them to be effective or productive, and I sure as hell wouldn't trade them for significantly increased house prices, commutes and less time of my own, which is the tradeoff being proposed. I predict Morgan Stanley will have a lot of non-highly compensated folks taking the exit door and many other companies gladly snapping up the top talent that actually care about things like family time. At least from what I've seen in competitive venues, benefits and time freedom are much more important than raw comp.

[XXX-er]

SOLD !

Way over asking price. Whiteroom Guardian earned a nice commission on the deal. Poor guy thought he was going to hot lap Big Sky’s bike park yesterday, he ended up stopped on the side of the trail wearing body armor and a full face helmet while jockeying a cell phone and a laptop dealing with insane people. 24 hours of madness. Worth it, I’m happy.


Sent from my iPhone using TGR Forums

wait a minute doesn't the TGR collective hate all RE agents, wasnt he entirely superfluous to the sale , the vendor could have done it all without him, RE agents should not be allowed to breathe or proecreate ... I'm confused by this response ?

[4matic]

wait a minute doesn't the TGR collective hate all RE agents, wasnt he entirely superfluous to the sale , the vendor could have done it all without him, RE agents should not be allowed to breathe or proecreate ... I'm confused by this response ?

Still stands. If they are beating the doors down to buy in one day it’s not worth 3% or even 2%. What exactly did the selling agent do? Take 5 minute break from a bike ride?

[dan_pdx]

Still stands. If they are beating the doors down to buy in one day it’s not worth 3% or even 2%. What exactly did the selling agent do? Take 5 minute break from a bike ride?

Hey, I think you're underselling the inconvenience factor of carrying your laptop on a bike ride.

[californiagrown]

So, how do we build company culture across time zones? Offices? This is kinda bullshit. Is it harder to build it remotely? Absolutely, you have to use different tools and approaches. Can you still do it? Yes, definitely. Your employees will also appreciate that you don't waste their time and money on stupid retreats to sing kumbaya because some execs brother did it once and loved it because they banged one of the trainers there. Anyone who thinks you "need to be in the office" to do anything in financial services that's not physical data center work loves the smell of their own farts.
Don't get me wrong - I enjoy going to an office, seeing people and many of the conveniences of corporate campuses, but in no way do I need them to be effective or productive, and I sure as hell wouldn't trade them for significantly increased house prices, commutes and less time of my own, which is the tradeoff being proposed. I predict Morgan Stanley will have a lot of non-highly compensated folks taking the exit door and many other companies gladly snapping up the top talent that actually care about things like family time. At least from what I've seen in competitive venues, benefits and time freedom are much more important than raw comp.

How do you go about building and maintaining comradery and a good company culture with a workforce that mostly WFH? The one company i worked for where i was in a tiny sattelite office surely didnt do a good job. Im not saying its impossible, but its a big, unneccessary new challenge IMO.

"They" said that people will go back to concerts, movies, cruises, ballgames and other social gatherings as soon as possible after the pandemic because humans are social creatures that crave personal interaction, and so far that seems to be the case. I think the same logic follows with Office vs. WFH. Most people work more than any other activity besides sleep... and most people dont really like the actual work, so it is either the money or the company culture/relationships that keep people happy.

I agree though, its gonna really suck for folks that moved further out thinking they would WFH 3-4days/week for the forseeable future if they get called back into the office fulltime.

[altasnob]

A mansion overlooking downtown Aspen has sold for $72.5 million, according to two people familiar with the deal. Appraiser Jonathan Miller said the transaction sets a price record for a single-family home in the upscale Colorado ski town.

The deal follows the sale last year of a $57.25 million home in nearby Vail, Colo., which also set a record for that area, The Wall Street Journal reported.

The seller is Lewis A. Sanders, founder and chief executive of New York investment firm Sanders Capital, the people familiar with the deal said. Mr. Sanders was formerly chairman and chief executive of Sanford C. Bernstein, according to a biography on his company’s website. That company is now part of AllianceBernstein.

The roughly 22,000-square-foot, 11-bedroom compound, which includes a guesthouse, was purchased in 2009 for $43 million, according to public records. Mr. Sanders later renovated the property, according to a person familiar with the situation. It wasn’t publicly listed for sale this time around.

The buyer is Patrick Dovigi, a retired Canadian professional hockey player turned entrepreneur. Mr. Dovigi is president and CEO of Green For Life Environmental, a Canadian environmental services and waste management company.

https://www.wsj.com/articles/aspen-m...on-11623782345

[Core Shot]

wait a minute doesn't the TGR collective hate all RE agents, wasnt he entirely superfluous to the sale , the vendor could have done it all without him, RE agents should not be allowed to breathe or proecreate ... I'm confused by this response ?

Dirt pimps still suck

But no way to get over asking in this retarded market without one

[glademaster]

A mansion overlooking downtown Aspen has sold for $72.5 million, according to two people familiar with the deal. Appraiser Jonathan Miller said the transaction sets a price record for a single-family home in the upscale Colorado ski town.

The deal follows the sale last year of a $57.25 million home in nearby Vail, Colo., which also set a record for that area, The Wall Street Journal reported.

The seller is Lewis A. Sanders, founder and chief executive of New York investment firm Sanders Capital, the people familiar with the deal said. Mr. Sanders was formerly chairman and chief executive of Sanford C. Bernstein, according to a biography on his company’s website. That company is now part of AllianceBernstein.

The roughly 22,000-square-foot, 11-bedroom compound, which includes a guesthouse, was purchased in 2009 for $43 million, according to public records. Mr. Sanders later renovated the property, according to a person familiar with the situation. It wasn’t publicly listed for sale this time around.

The buyer is Patrick Dovigi, a retired Canadian professional hockey player turned entrepreneur. Mr. Dovigi is president and CEO of Green For Life Environmental, a Canadian environmental services and waste management company.

https://www.wsj.com/articles/aspen-m...on-11623782345

Yeah, 419 Willoughby. It's nice inside, but not that nice. I can think of several homes in the area that are nicer off the top of my head.

[liv2ski]

Dirt pimps still suck

But no way to get over asking in this retarded market without one

Not entirely true. There are brokers that will list your property in the MLS and respond to offers for a flat fee (a few thousand). Maybe 4matic had something like that. You certainly don't need to pay some dirt pimp 3% to list your home. Have the home hit the MLS on a Thursday with it advertising an open house Saturday and Sunday. State all offers need to be in that following Monday. Counter offer all asking for their best offer. Accept best offer a week after it hits the MLS.

[Mustonen]

Yeah, 419 Willoughby. It's nice inside, but not that nice. I can think of several homes in the area that are nicer off the top of my head.

42 Wallaby Way, for example.

[RootSkier]

You certainly don't need to pay some dirt pimp 3% to list your home.

The average in MT is still 5-6%.

[liv2ski]

The average in MT is still 5-6%.

That is for both sides of the deal, I was talking 3% for the listing side only.