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Old 05-22-2007, 02:54 PM
 
16,092 posts, read 36,591,693 times
Reputation: 6277

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I don't worry about LH newbie - he really seems to know how to make, save and invest money - he will be able to retire before any of his peers.

I guess y'all missed my endorsing a few areas which weren't Lakewood. It was tough, but I did it...

I believe the investment opportunities in Central Dallas are still there and that it will continue to be the best place to make money. Why? Because people are actually starting to realize that there are some good schools in DISD. In those areas, a consolidation of students is taking place.

Also someone had mentioned the 'fringe areas' that look to be a bit dicey. Well, those are all being redeveloped and that should remove any doubts and add to appreciation. In 5-10 years Downtown will be world-class and a lot of people are going to want to live in close proximity. And DART rail is centered Downtown - as it expands so does the CBD.

And there are certain conservation and historic districts just now coming into their own..

If I didn't believe this stuff I would have sold out to the builders a year or two ago.

As far as Realtors go, they are well worth it when their knowledge of a market niche is good to impeccable. And that 6% usually is broken down to 1.5 % per participant.
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Old 05-22-2007, 03:14 PM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,759,820 times
Reputation: 1035
Hey, I work for Yahoo, so I have to believe everything will move online. HAHA!

Anyhow, I am well aware of the 6%. I just think in the future, that percentage will get lower and a majority of the money will be made the buyers agent. I give it 10 more years and rates will be dropping. I could see the "norm" becoming 4-5% in that time frame. Only time will tell!

Brian
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Old 05-22-2007, 03:46 PM
 
16,092 posts, read 36,591,693 times
Reputation: 6277
Actually Realtors are not supposed to say what others are charging...you're supposed to say _ % is what I/we charge. I don't know what others charge.

I can see that you might be right on the listing side, but if the owners didn't have a listing agent most deals would fall through during the negotiations. Sellers are real huffy until their home has been on the market too long! Then there are other things such as inspections/repairs, closing problems, etc.

If their agent helped them price it right at the start, a lot of problems can be avoided. But of course each seller thinks his/her house is better than the one down the street...
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Old 05-23-2007, 05:25 AM
 
3,035 posts, read 13,249,689 times
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Quote:
Originally Posted by Lakewooder View Post
If their agent helped them price it right at the start, a lot of problems can be avoided. But of course each seller thinks his/her house is better than the one down the street...
Exactly. That's really part of the problem in CA. People are still hung over from the 10% appreciation per month days and can't face that the market is in a decline. They know it is declining, but not in 'their' area. Realtors then tell them what they want to hear to get the listing.....then the home sits.

and sits.

Then desperation sets in and the price gets bombed (which is closer to where it should have been to start with) and it sells.

If folks just priced their homes right from the start, the market wouldn't be as saturated there. There are still alot of buyers waiting on the sidelines.
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Old 05-23-2007, 05:31 AM
 
3,035 posts, read 13,249,689 times
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Quote:
Originally Posted by lh_newbie View Post
As Socketz points out, this works for houses and cars. Cars depreciate the most in the first couple years... which is why my wife and I keep our cars for a long time - cars are not investments, merely a necessary evil.
What I've found with cars is that there are many more 'desirable' cars (not always the most expensive one) you can buy that greatly minimize loss. If you negotiate and buy one of these types of cars for the absolute bottom, then keep it a few years, you can sell it for almost what you paid for it.

Toyota
Infiniti

Are a couple of brands that have models that fill well into this spec. Your not going to make money on these cars, but you don't lose a large percentage either....and if you have to sell....they sell very quick.
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Old 05-27-2007, 09:57 PM
 
28 posts, read 86,973 times
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LUCAS (75002) all the way. New zoning requires all new construction to be on a minumum of 2 acres. Just voted sewers out so no multifamily housing will be going in. Parents sold in Cedar Hill 3 yrs ago bought a 5400 sq ft house on 10 acres for 725K and the property values are skyrocketing.
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Old 05-28-2007, 07:45 AM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,759,820 times
Reputation: 1035
Quote:
Originally Posted by socketz View Post
What I've found with cars is that there are many more 'desirable' cars (not always the most expensive one) you can buy that greatly minimize loss. If you negotiate and buy one of these types of cars for the absolute bottom, then keep it a few years, you can sell it for almost what you paid for it.

Toyota
Infiniti

Are a couple of brands that have models that fill well into this spec. Your not going to make money on these cars, but you don't lose a large percentage either....and if you have to sell....they sell very quick.
Totally agree - some vehicles hold their resale value much better than others. This definitely works it's way into our decision. Yahoo autos has a pretty cool function called "Total Cost of Ownership" where depreciation, maintenance costs, fuel, etc are taken into account so you can see what the real cost of a vehicle over 5 years is. Very cool function!
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Old 05-28-2007, 08:35 AM
 
3,035 posts, read 13,249,689 times
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People will argue that if you drive a car 'till the wheels fall off' then this is a moot point, but I'm with you. You can buy a nice car and in many cases, that car is somewhat of an asset. I've had several cars I paid off early, then drive for 4 more years, then sold for a nice amount that was more than 65% of what I paid. For me personally, assets are only of value if they can be moved quickly. That's why I will only drive vehicles that I can sell for more than I owe on them. Same with homes. Actually, furniture and expensive kids toys as well. Everytime I buy anything, I think of resale. I've sold kids toys (large outdoor toys)for almost as much as what I paid for them. More times than not, it pays to spend more money for quality as opposed to seeking out things that more disposable in nature. The only thing I have not figured out is consumer electronics. For the most part, this stuff is a money pit and needs to be looked at as a hobby. For instance, you could put a media room in your house today and in 4 years it would be obsolete.
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Old 05-28-2007, 08:54 AM
 
Location: Lake Highlands (Dallas)
2,395 posts, read 7,759,820 times
Reputation: 1035
Quote:
Originally Posted by socketz View Post
For instance, you could put a media room in your house today and in 4 years it would be obsolete.
Speaking from experience (yeah, I've had Magnepan 3.6 speakers, Sunfire amps, Velodyne HGS18 sub...), consumer electronics are silly to chase. I've learned my lesson quite a few years ago. At this point, I wait as long as I can handle, then buy a decent product, but don't spend extra for all the features. The way I figure it, I can buy something good now, then in 5 years, buy something better than was "top of the line" 5 years earlier at Walmart. Consumer electronics are changing amazingly fast.

We still have a 25" tube in the living room... I have been looking at a 32" LCD from Vizio though - maybe next year... Also have a plain old DVD player and a nice, but aging, Denon receiver. I think theonly thing we're looking at doing is putting in some ceiling speakers in a couple rooms, buying a couple of really inexpensive amps to put in the coat closet to have a "poor man's distributed audio". We looked at distributed audio systems and they're just too insanely priced.
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Old 05-28-2007, 10:33 AM
 
3,035 posts, read 13,249,689 times
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The only way distributed audio makes sense is to pre-wire in new construction. The wiring for such is dirt cheap compared to what it would cost after the fact. It is also one of those things that I predict will be a must for resale in 10 years. With consumer audio/video, you need to keep your head and not buy the 'top of the line', top of the line usually yields minimal quality difference at maximum cost difference. You also don't want to buy cheap throw away either. There is always a sweet spot, and that's what you need to find. For instance, if you look at projectors, 720p is priced really well at this point, almost making older 480p obsolete. It is also very close in picture quality to 1080i, which is still costly because it is the top. Most people cannot see the difference. A year ago, 720p cost about 50% more. As for audio, good sound is good sound -always has been - and much of the price difference on the audio recv side is in features, as you mentioned. Features that many will never use nor understand. I have an Onkyo recv still that I bought when I was 19 for $500 (alot then, people thought I was nuts) at a clearance sale because it had a missing remote and a scratch on the side (in a rack, nobody sees the side). That recv can still to this day hold its own with regards to high quality sound at strong current production (new stuff promises quality in the specs, but the components used are usually cheap and breakdown). I plan to use it in the new home to drive my in-room sound. At almost 20 years old, it is still up to the task. A good rear projection tv (i.e. the 'Big Screens') are still pound for pound the best choice for value as well because at the end of the day, the picture on these is excellent because the technology is mature. Again, a good HD picture (with good SDTV as well) is a good picture, always will be.

At least for 5-10 years. If you watch only standard def tv, then the tubes are still the king. SD will go away quickly though, so I'm not as bullish on those. For tube tvs, I'd search the paper and find resales from folks that moved or upgraded.

The AV buffs here will hate me for these recommendations, and if this is your hobby/passion, then 'sweet spot' is not acceptable. Best is the only thing that will due.....I'd just choose to put the extra money into other asset classes will more upside.

Actually, another nice investment is classic cars. These have actually done well over the years. Especially if you do your homework and buy them under market from someone desparate to sell.

Last edited by socketz; 05-28-2007 at 10:42 AM..
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