The Housing Market Thing

[K Frame]

I've reached a point in my life where, due to my financial and social situation, where the needs are no longer really relevant, and the wants are now prime motivational factors.

But, what I want and what I get may well be two very different things.

I want a 5,000 square foot Victorian-era house.

No way in hell am I ever going to get that in the DC metro area unless I hit the lottery.

[Gewehr98]

Nobody needs a car that goes over the legal speed limit, too.

Some say we don't need guns with 30-round magazines and semi-auto capability.

Cosmoline lives in a shed up there in Alaska.  I see he has a built-in pantry and larder. Maybe I could find similar accomodations for my family?

[Matthew Carberry]

That there's a Spee-nard MANSION! 

Nobody needs a car that goes over the legal speed limit, too.

Some say we don't need guns with 30-round magazines and semi-auto capability.

Right, but most folks accept that if they want a performance car it is A: going to cost more to buy than an economy 4-banger, and B: they will be paying more for gas and maintenance over the long haul.

They don't go into the car dealership and plunk down $600 a month for a payment and then claim they were "misled" when the non-hidden-at-any-time payment, gas and insurance costs catch up to them. 

If they do complain, we roundly heckle them for being so patently stupid.

Folks who do the equivilent financing on a house deserve similar scorn, not hand-wringing over "evil lenders" and an "out-of-control market".

That big farmhouse in the sticks should be affordable.  The problem is the idiots who think they can, or even should be able to, get the same house within 30 minutes of a major downtown core in a nice neighborhood with nice schools and a good-sized yard.

That isn't realistic thinking, market be damned.

[tokugawa]

Mike, if you want a 5000 square foot vicky, I suggest you look in clarksburg WV. Drove thru there a while ago and there were some very nice examples( needing restoration of course.) You may find the commute a bit of a bother!

[K Frame]

This is the house I almost bought. Missed it by a couple of days, unfortunately.

It's 7,000 square feet of Richardson Romanesque Revival.

I just found out, though, that the people who operated it as a B&B are closing it, so I'm going to write to them and see if the house is on the market...

[Laurent du Var]

If you get to buy that place,
is there a Lurch (spl?) that comes with it ?
Will you create a human/zombie creature in the basement ?   

[Tallpine]

needs could be a tin roofed shed with a woodstove and outhouse out back

on 160 acres

[charby]

needs could be a tin roofed shed with a woodstove and outhouse out back

on 160 acres

sounds like my future deer camp someday

-C

[charby]

This is the house I almost bought. Missed it by a couple of days, unfortunately.

It's 7,000 square feet of Richardson Romanesque Revival.

I just found out, though, that the people who operated it as a B&B are closing it, so I'm going to write to them and see if the house is on the market...

Mike are you geographical location specific on your Victorian? The reason I ask is that there is a lot to be bought for reasonable prices in SE Iowa. Towns like Burlington, Ft Madison and Keokuk. Many will have nice views of the Mississippi River.

Problem is that there are no jobs or much economic growth in those areas.

[K Frame]

That's great, Charby.

I can buy the house of my dreams.

Only, I can't afford to live in it!

[Manedwolf]

Keep in mind that a lot of those older tiny houses were small because small space was EASIER TO HEAT.

And on top of that...they often had a shed or barn to keep their crap in, and had very few outfits to wear. A couple of everyday work outfits and a Sunday suit or dress.

It's 2007. We have a lot more stuff that goes in the house, from appliances to DVDs to PCs to TVs. We don't retire at sunset. We're not out working all day and come home only to eat and sleep. And we have, in general, a LOT more clothes than people used to. Wear the same few outfits every week, and people would look at you funny.

And even aesthetics have changed. People just seem to feel more comfortable with a little floorspace, now. The Victorian-era "stuff a room with as much furniture as possible" idea would make most people feel crowded, these days.

Even bathrooms...doesn't anyone who has a newer home feel just a bit cramped when they visit someone with an early 1950's ranch-style with a bathroom that's as narrow as half a train car?

[Manedwolf]

This is the house I almost bought. Missed it by a couple of days, unfortunately.

It's 7,000 square feet of Richardson Romanesque Revival.

I just found out, though, that the people who operated it as a B&B are closing it, so I'm going to write to them and see if the house is on the market...

Nice architecture...but you'd need to have at least one picture of it at night with a lightning bolt behind it. 

(And man, I hope that chimney is sound! That's a big tower of brick, right there! ...probably had a huge coal-fired boiler.)

[K Frame]

When I was looking at buying it, the asking price was a princely $169,000.

It's located in Connellsville, Pennsylvania, about 40 miles south of Pittsburgh. When I was looking at moving up there I had a solid lead on a job.

As for the chimney, structually the house was billed as being in excellent shape, with a new boiler, upgraded plumbing and electrical, etc.

[charby]

That's great, Charby.

I can buy the house of my dreams.

Only, I can't afford to live in it!

work freelance from home....  Actually Siemans is opening a wind turbine plant in Ft Madison, maybe you could get a job there.

[K Frame]

I've already tried to convince my bosses that I should be telecommuniting regularly, and only coming into the office on an as necessary basis.

They didn't bite.

Were that allowed, I'd be back in Pennsylvania so quickly that you wouldn't be able to follow me without a motion stop camera.

[Manedwolf]

I've already tried to convince my bosses that I should be telecommuniting regularly, and only coming into the office on an as necessary basis.

They didn't bite.

Were that allowed, I'd be back in Pennsylvania so quickly that you wouldn't be able to follow me without a motion stop camera.

That unfortunately doesn't work as well as people hoped, for one simple reason. Out of sight, out of mind.

If you're not a familiar face in the office, present at meetings and a familiar voice, you're far less likely to get promotions, and also a lot easier to round off on the balance sheet if any cuts are needed.

[Tallpine]

I've already tried to convince my bosses that I should be telecommuniting regularly, and only coming into the office on an as necessary basis.

Your boss would probably go for it if you lived in India 

If you're not a familiar face in the office, present at meetings and a familiar voice, you're far less likely to get promotions, and also a lot easier to round off on the balance sheet if any cuts are needed.

I worked "offsite" for almost five years (only visited the office twice, and that was in the first six months), and was one of the very last to be laid off.  Unfortunately, finding another such situation is almost impossible. 

[Matthew Carberry]

If you are in outside sales or the real estate field, the last thing good managers want to see is your butt in their chair. 

Numbers are all that matter, keep making the sales and you're the king.

[RJMcElwain]

This is a timely thread for me because about  two weeks  ago an opportunity came along for my brother and me to buy a condominium next door to one we already own in Florida. We'd like to own a second unit and, supposedly, the seller is interested in a fast sale. However, he's pricing it at $369,000. which appears to be at least  $90,000. too high for current market conditions.

We're happy to wait for reality to enter. My question is, for those who may know the Florida market better than I do, is how long do you expect the slide to continue, and how bad will it get?

Bob

[The Rabbi]

The downturn will continue until it improves.  It will get really really bad until it gets good.

Anyone with the answers to those questions isn't posting here but out making billions of dollars with his ability to predict the future.

[RJMcElwain]

The downturn will continue until it improves.  It will get really really bad until it gets good.

Anyone with the answers to those questions isn't posting here but out making billions of dollars with his ability to predict the future.

True. But, like orifices, everyone has an opinion.

Bob

[Gewehr98]

We're happy to wait for reality to enter. My question is, for those who may know the Florida market better than I do, is how long do you expect the slide to continue, and how bad will it get?

Question is, how much do you want to spend for homeowner's insurance on that artificially-valued piece of property? I was very much involved in the SpaceCoast Florida real estate world until March of 2006, and was frankly amazed by the amount of realtors, brokers, and agents that a single square mile could sustain. It reminded me of the old joke about the common characteristics of prostitutes and helicopters (no visible means of support).  I watched with interest as the local Real Estate Book dropped from 160 pages to just barely 100 as the bubble deflated.  We left our beachside Florida home last year after witnessing our $1000/month premiums climb through the roof to $20K/yr AND them having the audacity to threaten to cancel our policy.  Now I see the insurance companies want to raise our premiums in Wisconsin to offset their losses in Florida.

Florida can suck my left *@%!

[RJMcElwain]

We're happy to wait for reality to enter. My question is, for those who may know the Florida market better than I do, is how long do you expect the slide to continue, and how bad will it get?

Question is, how much do you want to spend for homeowner's insurance on that artificially-valued piece of property? I was very much involved in the SpaceCoast Florida real estate world until March of 2006, and was frankly amazed by the amount of realtors, brokers, and agents that a single square mile could sustain. It reminded me of the old joke about the common characteristics of prostitutes and helicopters (no visible means of support).  I watched with interest as the local Real Estate Book dropped from 160 pages to just barely 100 as the bubble deflated.  We left our beachside Florida home last year after witnessing our $1000/month premiums climb through the roof to $20K/yr AND them having the audacity to threaten to cancel our policy.  Now I see the insurance companies want to raise our premiums in Wisconsin to offset their losses in Florida.

Florida can suck my left *@%!

All true. And well expressed. And the piece of sand we're sitting on is part of the Space Coast, so I know exactly what you're talking about. And as i said, my brother and I are very patient. If this particular property drops by 30-40% we , might get interested. In the meantime, it will be interesting to watch what happens.

We've all been through this before. In the last 20 or 30 years, we've seen a few market corrections.

Bob

[Manedwolf]

This is a timely thread for me because about  two weeks  ago an opportunity came along for my brother and me to buy a condominium next door to one we already own in Florida. We'd like to own a second unit and, supposedly, the seller is interested in a fast sale. However, he's pricing it at $369,000. which appears to be at least  $90,000. too high for current market conditions.

We're happy to wait for reality to enter. My question is, for those who may know the Florida market better than I do, is how long do you expect the slide to continue, and how bad will it get?

Bob

I believe there was already a condo boom and bust in the 80's, wasn't there?

Will probably happen again.

[K Frame]

My take on it is that we're days, no, minutes away from the entire nation losing faith in the dollar.

Revolution will follow, until someone comes forth to lead us back into the light and base our currency on zinc.