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Old 09-16-2008, 05:56 PM
 
191 posts, read 640,896 times
Reputation: 44

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http://graphics8.nytimes.com/images/...aph2.large.gif

Need I say more?

It's going below the 90's line this time. Prepare for it or else.
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Old 09-16-2008, 05:58 PM
 
191 posts, read 640,896 times
Reputation: 44
And for that John guy who spends a bunch of his time on lehigh valley forums (he admits that in a post)

www.patrick.net

It's the best site for housing and the economy Johnny boy that's why people go there.
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Old 09-16-2008, 06:23 PM
 
12,870 posts, read 29,517,912 times
Reputation: 7438
Great question EmmausRocks! No, you need not say any more! We all got your message loud and clear! Thanks for telling us all about Patrick.net. We'll all be sure to visit it daily for it's news about housing. Hey, did you know there was a Northeast PA forum where you can talk to the people in the SWB area about how swell it is up there?
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Old 09-17-2008, 05:14 AM
 
Location: Lehigh Valley, PA
242 posts, read 771,985 times
Reputation: 45
Default Hes a bubble blogger

This guy, EmmausRocks, is what is known to the online community as a Bubble blogger
Please visit MediaShift . Digging Deeper::Newspaper, Bubble Blogs Feed the Real Estate Obsession | PBS
and read about these real estate junkies. Most of them can hold logical conversation and provide good facts, in fact if you read above some of these guys have great sites to visit and get great information. However some of them only provide pure speculation or out of context references like patrick.net which was formed to handle the San Francisco bay market or that graph he keeps posting.

And if you read his posts he has provide nothing of substance about him and his knowledge of real estate. Just some generalized PAY-PER-CLICK Advertising scheme like patrick.net or some graph that illustrates over a long term investment real estate has been great to own.

By the way, just curious Emmaus, if we all pay rent to a landlord. And a landlord is a property owner, doesn't that mean the lanlord is getting paid to own property. So why not advise everyone to become landlords?
or is that to much of an original thought.

So fire away with your pre-canned realtor insults.

Quote:
Originally Posted by EmmausRocks View Post
And for that John guy who spends a bunch of his time on lehigh valley forums (he admits that in a post)

www.patrick.net

It's the best site for housing and the economy Johnny boy that's why people go there.
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Old 09-17-2008, 06:14 AM
 
Location: downtown Easton
99 posts, read 307,028 times
Reputation: 95
Thank you, Jeff, for such a thoughtful and insightful post. I am sure that people do not realize that "patrick.net" originated in San Fransisco. That said, I will share with you that my husband and I visited San Fransisco last year to look at real estate. What a shock! A million dollars gets you a 1200 square foot condo. We looked at many other areas and decided, after about a year and a half of research, to look in Bethlehem and Easton. ( We wanted a metro feel and proximity to airports). My "dream" was to find a beautiful, restored historic property. Easton fit the bill, and it looks like we found our house.

It is impossible to generalize about the real estate economy. Every situation is unique. Purchasing real estate is still the best investment anyone can make.
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Old 09-17-2008, 06:19 AM
 
Location: Lehigh Valley, PA
242 posts, read 771,985 times
Reputation: 45
Default househunting

househunting
Its not just San Fran. my sister lives out in CA and the amount you pay for what you get is kind of shocking. Lot different then here.
thanks
Jeff
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Old 09-17-2008, 06:39 AM
 
12,870 posts, read 29,517,912 times
Reputation: 7438
We briefly considered moving to California about 13 years ago. My husband worked for a large company in King or Prussia that was moving his division to San Jose, in Northern California. The company chartered a plane and flew about a hundred of us out there and we spent two days driving around with a realtor, looking at houses. We couldn't believe how little house we would be able to afford - no basement, no yard and houses 10-20 years older then the one we were in. Even with a pretty good incentive raise, we just couldn't see an improvement. Instead, my husband found another company to work for up here!
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Old 09-17-2008, 08:44 AM
 
191 posts, read 640,896 times
Reputation: 44
Default Funny as heck

Quote:
Originally Posted by jeffvivian View Post
This guy, EmmausRocks, is what is known to the online community as a Bubble blogger
Please visit MediaShift . Digging Deeper::Newspaper, Bubble Blogs Feed the Real Estate Obsession | PBS
and read about these real estate junkies. Most of them can hold logical conversation and provide good facts, in fact if you read above some of these guys have great sites to visit and get great information. However some of them only provide pure speculation or out of context references like patrick.net which was formed to handle the San Francisco bay market or that graph he keeps posting.

And if you read his posts he has provide nothing of substance about him and his knowledge of real estate. Just some generalized PAY-PER-CLICK Advertising scheme like patrick.net or some graph that illustrates over a long term investment real estate has been great to own.

By the way, just curious Emmaus, if we all pay rent to a landlord. And a landlord is a property owner, doesn't that mean the lanlord is getting paid to own property. So why not advise everyone to become landlords?
or is that to much of an original thought.

So fire away with your pre-canned realtor insults.




Digging Deeper
Newspaper, Bubble Blogs Feed the Real Estate Obsession

by Mark Glaser, 12:12PM


Please read that link Jeffy Boy has posted. Then you will see that the "bubble bloggers" were actually doing a great thing (had people listened) by telling the public what the media and realtors would not, THE TRUTH ABOUT REAL ESTATE. Just like that sign on Route 78 that proclaims, "REAL ESTATE DOUBLES EVERY 10 YEARS", LOL!!!! Here's the proof of that lie. http://graphics8.nytimes.com/images/...aph2.large.gif

Patrick.net simply prints the articles from the media & economists that are sensible, not realtor based articles that try and sway the public into their lies! Anyone that doesn't want to come to terms with the fact they overpaid significantly during the housing bubble or they refinanced and now owe double what their homes are worth. You people are the same people who were holding onto stocks during the dot.com crash.

Everyone became a realtor during this boom like Jeffryboy there just like everyone became a daytrader during the dot.com crash. When people LEARN what ponzai/pyramid scheme or BUBBLE INVESTING periods are this wouldn't have happened. STUPID IS AS STUPID DOES!



Housing Crash Continues, Bubble Pops
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Old 09-17-2008, 08:53 AM
 
191 posts, read 640,896 times
Reputation: 44
Default Obvious

Quote:
Originally Posted by toobusytoday View Post
We briefly considered moving to California about 13 years ago. My husband worked for a large company in King or Prussia that was moving his division to San Jose, in Northern California. The company chartered a plane and flew about a hundred of us out there and we spent two days driving around with a realtor, looking at houses. We couldn't believe how little house we would be able to afford - no basement, no yard and houses 10-20 years older then the one we were in. Even with a pretty good incentive raise, we just couldn't see an improvement. Instead, my husband found another company to work for up here!
Try to stay in denial about the facts. Here's what is happening in CA.

copyright issues, edited by toobusytoday______________________________


Home sales in state soar as prices plunge


James Temple, Chronicle Staff Writer
Tuesday, August 26, 2008


(08-25) 12:20 PDT SAN FRANCISCO -- California home sales surged last month even while prices plunged a record amount, as buyers snapped up bargains among the state's hundreds of thousands of foreclosed and distressed properties, according to an industry trade group.

The number of existing, single-family houses that traded hands in July leaped an estimated 43.4 percent from a year ago, the California Association of Realtors reported. The median price, however, dropped 40.3 percent to $350,760, the biggest decline since the Realtors began tracking the market.
In the Bay Area, sales increased 6.7 percent, and the median sank 21.2 percent to $663,190.
"We are seeing a robust response to improved affordability," the Realtors' Chief Economist Leslie Appleton-Young said. "But obviously the $64,000 question is when will we be at the bottom? I don't think we'll see that this year."
If the trend continues, it will whittle down for-sale inventories and gradually bolster prices, some industry observers say.
"Of course, we'll have to watch it, but that eventually would help to (drive) price recoveries," said Esmael Adibi, director of the Anderson Center for Economic Research at Chapman University in Orange. "This is the first step toward recovery."
He stressed, however, that it's just an initial step in a long trek.
Additional waves of foreclosures are likely, because thousands of alternative-documentation loans and other exotic mortgages are scheduled to reset to higher monthly payments in the coming months, he said. In addition, sales haven't increased enough yet to substantially reduce the high inventory across the state.

Last edited by toobusytoday; 09-23-2008 at 05:49 AM.. Reason: copyright
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Old 09-17-2008, 10:13 AM
 
12,870 posts, read 29,517,912 times
Reputation: 7438
I'm not sure what your point is. I was saying that the prices were high in California 13 years ago when we looked. Not last year or two years ago, 13 years ago. House prices here were still fairly reasonable when we bought 11 years ago. I certainly agree that prices have gone up. We had to get our house reappraised a few years ago when we re-financed our mortgage and it was appraised much higher. No surprise. I'm glad we bought when we did.
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