Interesting Real Estate Observation (San Antonio, Anton: homes, neighborhoods, buy)

[scuba steve]

Originally Posted by banker

LOL!!! No kidding. When I saw the $14,000 401(k) comment I laughed. That is nothing to brag about. Especially when you think about the fact he paid 20% penalty to cash out plus any tax liability he has coming at tax time. But that is ok. The guy is clearly smarter than everyone else on this thread.

On the internet we all made 6 figures three years out of college and have at least a million dollar net worth. Get with the times!

[CelesteDF]

Please people. Stewie = troll. Let sleeping idiots lie.

[rd2007]

wondering what the Boy Scout badge equivalent would be to this "badge of honor"? Maybe a $ with flames shooting out of it?

BTW, I think the 14K was the level of the Dow at the time of the cashout, but still, the taxes and penalties would've probably destroyed any possible gains.

[firstclassflyer]

I was thinking the same thing RD..that was the Dow level at the time...approx 14000. He's still a troll. The troll did get a lot of play though...over 800 views and 53 responses.

[the_dimwit]

Actually, I read his comment as he cashed it out when the market was at 14,000 points. (NYSE, obviously.) However, I agree that it's a dumb move to "advertise" wealth online. It just ruins credibility and shows ignorance.

--Dim

[the_dimwit]

Originally Posted by rd2007

BTW, I think the 14K was the level of the Dow at the time of the cashout, but still, the taxes and penalties would've probably destroyed any possible gains.

Originally Posted by firstclassflyer

I was thinking the same thing RD..that was the Dow level at the time...approx 14000. He's still a troll. The troll did get a lot of play though...over 800 views and 53 responses.

Doh! That's what I get when I don't read the next page...

--Dim

[hello13685]

You guys can't have it both ways. You can't claim that SA did not have the bubble run-ups of other cities, and then brag that you bought in 2001 at 113,00 and sold at 174,000 a few years later!

Only time will tell what the market will do. We all want to avoid cognitive dissonance. Those not invested in real estate will argue why that is a smart position, and those who are invested in real estate will argue that they are in a good position as well. The posters who are invested stand to lose wealth, the real estate agents fear loss of valuable business, and those not invested stand to potentially miss out on good buying opportunities. It's understandable how and why we might all put our blinders on to opposing arguments when the stakes are so high.

[banker]

Originally Posted by hello13685

You guys can't have it both ways. You can't claim that SA did not have the bubble run-ups of other cities, and then brag that you bought in 2001 at 113,00 and sold at 174,000 a few years later!

Only time will tell what the market will do. We all want to avoid cognitive dissonance. Those not invested in real estate will argue why that is a smart position, and those who are invested in real estate will argue that they are in a good position as well. The posters who are invested stand to lose wealth, the real estate agents fear loss of valuable business, and those not invested stand to potentially miss out on good buying opportunities. It's understandable how and why we might all put our blinders on to opposing arguments when the stakes are so high.

My home value went up 6.6% per year...that is not a buble run up last time I checked. It is time and buying in a good area. That is not a bubble. Bubble run ups were double digit increases year over year. That is why in those markets you are now seeing double digit decreases in a year. And by the way - I bought August 2001 and sold in January 2008 (closed February 2008)...that is not a few years. It was six and a half years.

Do the math.

[the_dimwit]

Agree with Banker on this one. The SA market has seen some remarkable increases over the years, but far from the percentages of CA, DC, or other areas of the country. For example, I bought my townhouse in Northern VA in 1998, just before the big run-up. Original purchase price was 189,900. At the market peak, the townhouse next to me sold for 455,500. We sold ours Jan 2008 for 330,000. Those are some big increases (and drops if you look at what the same houses are going for right now).

--Dim

[scuba steve]

Originally Posted by hello13685

You guys can't have it both ways. You can't claim that SA did not have the bubble run-ups of other cities, and then brag that you bought in 2001 at 113,00 and sold at 174,000 a few years later!

Sure you can, if you made some actual improvements to the place!