Quote of the Day
I pick cereal very quickly thank you very much. Just don’t want to pay a crazy price when I am literally seeing price cuts in the hundreds of thousands for some properties we’ve looked at (but rejected for other criteria). There is basically unanimity that prices will go down in 2009, and possibly through to…
I pick cereal very quickly thank you very much. Just don’t want to pay a crazy price when I am literally seeing price cuts in the hundreds of thousands for some properties we’ve looked at (but rejected for other criteria). There is basically unanimity that prices will go down in 2009, and possibly through to 2010 and beyond. We only sold a few months ago, and the meltdown happened, so we’re just actively looking, but not rushing. We have a list of flexible criteria for the property we’re seeking, of which price is just one element – but since price impacts so many other parts of our lives – esp time spent with our kids! (big mortgage = more hours working to pay the bills), price is a major criteria, esp in an environment when prices are headed down.
— by Miss Muffett in Last Week’s Biggest Sales
Really. I suppose my brokers license and several years of RE practice are no match for your years of expertise and watching infomercials. LOL LIke I said, I can hook you up with my neighbor. Deal of a lifetime in your world.
williamsburgguy listen to me clearly you know nothing about Real Estate nothing. Now let’s listen to what cramer just said Housing is a Buy Buy Buy right now. It does not take a Education to figure out the Fed will not let the Economy fail. Housing will be back in 2009. This will be a once in a lifetime chance to buy a home with mortgage rates so low.
Sebb you should just buy up all the vacant houses in the entire city since you keep claiming they are all going to be worth 2006 prices again in a few weeks. Guess what, I gave $69K for my 3 story wood frame nothing special Williamsburg house back in 98 when houses all over the country of similar size were selling for……….$69K (and houses in Miami were selling for MORE – I know because I was looking there then too). These same nothing special houses on my block in 2006 were selling for 1.5M as were nothing special houses in Miami and other hot spots. Guess what, NYC is just about the ONLY “hot” spot left and it’s cooling fast. My neighbor just dropped his price from 1.3M to 1.1M. You better come get it now while its cheap so you can cash out next year and double your money. But I figure you better bring cash since I doubt it will appraise.
we’re thinking of buying in miami — we have itty bitty kids and think maybe a condo would be a good idea for a few years for vacations and maybe not a bad investment. I mean, our trips to buenos aires, etc are over, right?
can you really get a decent condo for 95k?
If anyone on this blog is Comparing Miami South Beach to NYC you need to see a shrink. You have no clue about real estate do you Inigo .
In all seriousness: You understand that the plan now is to “recapitalize” banks by destroying the dollar? And to fight deflation by beggaring savers? You portfolio of investment property may keep the same nominal price. But you get that the actual value will be ravaged?
So DIBS – what do you think will happen to NY RE market in 2009-2011?
You can say it; doesn’t make it true. Many respected economists are drawing just that parallel. But I’ve said it before, I’ll say it again: since you know “the trade,” Dave, go ahead and make it. Just agree to come on here in a year and tell me how it turned out for you.
Any comparison with Japan is irrelevant for a multitude of reasons. It’s not the same. In fact that’s all they did from the early 90’s until the banks were recapitalised in 2003.