tag:blogger.com,1999:blog-5140004705538204727.post3446974651537720708..comments2023-12-16T04:08:06.419-08:00Comments on Real Estate in the LBC: Circle of Duhel beehttp://www.blogger.com/profile/14187665973956068496noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5140004705538204727.post-37614205098333504242009-12-22T12:53:33.241-08:002009-12-22T12:53:33.241-08:00Qualified, congrats!!!
And don't go anywhere!...Qualified, congrats!!!<br /><br />And don't go anywhere! You're feedback is appreciated!<br /><br /><br />and LOL at Jason!!!!!!!! (warp speed hehe)Mike in LBCnoreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-7265056217639602692009-12-21T14:43:15.761-08:002009-12-21T14:43:15.761-08:00OK, I'm going to keep posting. I just felt lik...OK, I'm going to keep posting. I just felt like being dramatic... Keep up the good work El Bee!Qualified to Represent...http://nowhere.bol.comnoreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-83415895145621883752009-12-21T13:14:44.808-08:002009-12-21T13:14:44.808-08:00Qualified,
That's excellent news! Congrats. ...Qualified,<br /><br />That's excellent news! Congrats. And no need to be pensive about it--it sounds like you did things right and are happy with the deal you got.<br /><br />And plus, you lowballed $50k (which is freaking awesome, by the way) so you have a bit of a cushion when/if values decline a bit. I seriously doubt we're going to see 20% declines from here on out regarding normal houses (i.e., not the high end) but here's the big picture:<br /><br />Dude, you're a homeowner. <br /><br />And you will remain a homeowner because it sounds like you can afford it even if life throws you a curveball. You say it's "overpriced" but by what measure? If you love it and can comfortably afford it, the dollar value of surrounding homes matters very little.<br /><br />So fuck Rent vs. Own, fuck comps, fuck interest rates...fuck all of it. You bought for the right reasons (and I'm assuming a nice interest rate) and now you can just enjoy living in your own house. Remember, the entire point of this blog is that I too want to be a homeowner--I have zero interest in renting forever, even if it means the house I buy falls a bit in value. Everybody has their comfort level of when and why to jump in, and you found yours. I hope to find mine soon too.<br /><br />I just hope this doesn't mean you'll stop commenting on the site. Even though you're a homeowner now, you can still take shots at slack-jawed greedtards.el beehttps://www.blogger.com/profile/14187665973956068496noreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-90743106141985298272009-12-18T21:49:22.640-08:002009-12-18T21:49:22.640-08:00What a long, strange trip it has been in Long Beac...What a long, strange trip it has been in Long Beach real estate! My wife and I have been looking to buy since about 2007, and for the most part we felt locked out of anything decent, even though we both make a good living. We have been more actively looking since August of 2009, got pre-qualified for a loan, and we were completely demoralized as the few reasonable priced houses that came out got snatched up by cash-paying investors sight-unseen within 48 hours of listing. Yes, that actually happened to us on 3 separate occasions. <br /><br />We also kept up a regular salvo of low-ball bids on overpriced houses that looked like there might be pricing room, but invariably the retarded greedheads refused to play and kept the listing price high without selling.<br />We just about gave up, until last week a listing that had already been agressively priced down came up, and we low-balled the seller's price by $50k, thinking full well that we would be denied as we had been accustomed.<br /><br />Much to our chagrin, the sellers were hurting and needed out, and accepted our offer. It's in a good school district in the Lakewood Village area, for about $250 per square foot, way below Long Beach average.<br /><br />This is my swan song, fellow Long Beach RE haters. I am out, I am officially an owner of an admittedly overpriced piece of real estate. I fully realize that there may be 10-20% (or more) downside in the value of this property in years to come. We don't intend to move for at least 10 years, and anyway after the tax savings we are breaking even with our current rental (OK, more or less... ;-). Our mortgage and taxes are about 33% of our combined income, which is more than I'd like to pay, but still somewhat reasonable for this day and age. <br /><br />This is both a sad farewell to this wonderful blog that El Bee has created, and a message of hope for all of those (like myself) who look for a day when LBC real estate is more reasonable, and people can't get rich by just flipping houses to each other and pricing the poor shmucks who work for a living (like me) out. We may not be at reasonable valuation yet, but we are getting there, and one day, maybe in 2013, we can all have the chance to look at Redfin and say "wow, these prices are not that bad anymore..." By that time I'll probably be 25% underwater, but we'll be OK (after taxes) I hope. <br /><br />Farewell, friends, may the shadow inventory soon be cleared, and may RE in the LBC be again in line with local incomes!!! Peace, OUT!!Qualified to Represent...http://nowhere.bol.comnoreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-87798731669941297732009-12-17T10:38:21.366-08:002009-12-17T10:38:21.366-08:00That kitchen looks like it's about to make the...That kitchen looks like it's about to make the jump to light speed.Jasonnoreply@blogger.com