|
PureBytes Links
Trading Reference Links
|
Definition of worth - What a willing buyer will pay a willing
seller. If the houses are going for $1,000,000 then they are worth
$1000,000 - maybe not to you, but to someone. Whether this is a prudent
purchase is another question.
<BLOCKQUOTE dir=ltr
>
----- Original Message -----
<DIV
>From:
mr.ira
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, July 25, 2004 4:01 PM
Subject: Re: [RT]-Homes
Houses average about 2500 sq.ft.. The lots
are less then a 1/4 acre. Some are zero lot line. Anything larger
then that goes for over a million. The area is northern California. No
pool, no lake view, some only have a view of the neighbors back yard.
About 3 years ago my wife and I went through a
new development and I told her they were asking over $750,00 for openers, no
upgrades, no landscaping. Her remark was the houses were worth about
$250,000 at most. She was right. Those same houses are on the
market today for $1,300,000 to $1,900,000. Lots 6000 to 9000 sq.ft.
Like the markets, it not what it is worth, it is
what someone else will pay for it. Real estate is in the parabolic phase
of the cycle. Circa 1998-2000 for the internet stocks. there is a
reality check coming for a lot of people.
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
jvc689@xxxxxxx
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, July 25, 2004 9:07
AM
Subject: [RT]-Homes
Just so it is clear.Where are these houses located? How
many square feetof living space doe one get for $900,000 and what is the
lot size?I doubt that there is any place that a quality house can
not be built for$100 per square foot plus lot.Many people just
buy large vanity houses for two people and no children.So ego plays into
financial home choices also.I ran into the same experience looking
in Cape Corral, FL. Houses weremostly cinder block, stucco and buyers in
a lot of cases had to pay thewater and sewer assessment. People were
buying houses and putting them upfor sale in a year. It seemed like the
greater fool theory to me. Pricescome down when mortgage rates go up
since affordability on "buying houseon minimum margin" make payments
higher...obviously.You can still buy magnificent Beach front homes
in Myrtle Beach for around$1,000,000 , 3 BR 2 bath Ocean front condos
for $330,000 and lakeside/back/front homes just a few miles from the
beach for less than that.Likewise the houses here go up with each
new development extension becausethe lot costs go up. I know of people
who bought multi houses, rent themand plan to sell about five years
later for handsome profits.Just my take. It is not always as clear
cut as it seems.Sincerely,John> Another
interesting lookback into history is the 1930's. Compare
thepolicies Hoover implemented after the roaring 20's to what's going to
be'proposed' this week in MA.....> ----- Original
Message -----> From: Pete Hallock> To:
realtraders@xxxxxxxxxxxxxxx> Cc:
NQoos@xxxxxxxxxxxxxxx> Sent: Saturday, July 24, 2004 7:36
PM> Subject: Re: [RT]>>>
Ira,>> Prices going up? I like to think of
it as our currency continuing to> lose value. Legal tender laws
are the only thing saving it.>> It's only been a
little over thiry years since Nixon cut the dollar> loose to
float. Perhaps the grand experiment with our fiat currency
isnearing its end. After all, when one looks back in history, none
haveever endured. Have a great
weekend.>> Pete
Hallock>>
www.xlibris.com/duped.html> ----- Original
Message -----> From:
mr.ira> To: real
traders> Cc:
NQoos@xxxxxxxxxxxxxxx> Sent: Saturday, July
24, 2004 7:14 PM> Subject:
[RT]>>> The housing boom must
be near an end. There was an article in> today's paper about
people lined up 2 days in advance, living in theircars, in order to buy
homes that start at $900,000. The> average price of homes here
is going up about $3000 per week. Last weekthe average price was
$500,000, today it is $503,000.>> The
housing market here is like the stock market in 1999 and 2000.> I
don't think the housing market will fall to the same degree as thestock
market did, but a 20% drop will hurt a lot of people. It willalso
reflect upon some commodities, housing stocks and housing> related
stocks.>> Of course there is no
inflation. Just ask the
government.>> Have a good week
end.
Ira.>>>
Yahoo! Groups
Sponsor>
ADVERTISEMENT>>>>>>
---------------------------------------------------------------------------->
Yahoo! Groups Links>> a..
To visit your group on the web, go
to:> <A
href="">http://groups.yahoo.com/group/realtraders/>>
b.. To unsubscribe from this group, send an email
to:>
realtraders-unsubscribe@xxxxxxxxxxxxxxx>>
c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of>
Service.
Yahoo! Groups Sponsor
ADVERTISEMENT
Yahoo! Groups Links
To visit your group on the web, go to:http://groups.yahoo.com/group/realtraders/
To unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
|