honobob
Thinks s/he gets paid by the post
- Joined
- May 8, 2006
- Messages
- 1,036
OK I'm calling the HOUSING bubble a total HOAX in San Francisco, Honolulu and established neighborhoods in Las Vegas!!! I don't have direct info on other areas but I see Idaho and Utah etc. reporting double digit appreciation so I don't know.
My last two purchases in Honolulu in 2003 and 2004 are well over my purchase price. I'm in town now filling my vacant studio. Arrived Sat and got my Craigslist ad in on 6/22 for a furnished studio for $995. I haven't taken it off yet so if you search you can see the pictures of a 200 sf studio. I was renting for $1000 but let the doom and gloom get to me so I dropped $5 bucks thinking I might have to go lower.
NOT. Four days later I have Four deposit checks. I probably could have raised the rent to $1050. So I chose my person today and had to tell 3 people sorry. That's hard as all were great prospects.
So I'm looking at another purchase but even tho there's alot on the market prices are holding firm and some people are trying to get next years appreciation in advance. I was talking to a realtor who is selling a one bedroom here and she says she has a stack of offers (low ball) on her listing. Says there's a lot of the new realtors working with Foreclosure chasers thinking they're going to make the next Trump deal.
So from my experience making actual market (and slightly above) offers in SF and Honolulu and actual purchases in 2003 and 2004 I think I can safely say that the bubble has been overhyped.
My last two purchases in Honolulu in 2003 and 2004 are well over my purchase price. I'm in town now filling my vacant studio. Arrived Sat and got my Craigslist ad in on 6/22 for a furnished studio for $995. I haven't taken it off yet so if you search you can see the pictures of a 200 sf studio. I was renting for $1000 but let the doom and gloom get to me so I dropped $5 bucks thinking I might have to go lower.
NOT. Four days later I have Four deposit checks. I probably could have raised the rent to $1050. So I chose my person today and had to tell 3 people sorry. That's hard as all were great prospects.
So I'm looking at another purchase but even tho there's alot on the market prices are holding firm and some people are trying to get next years appreciation in advance. I was talking to a realtor who is selling a one bedroom here and she says she has a stack of offers (low ball) on her listing. Says there's a lot of the new realtors working with Foreclosure chasers thinking they're going to make the next Trump deal.
So from my experience making actual market (and slightly above) offers in SF and Honolulu and actual purchases in 2003 and 2004 I think I can safely say that the bubble has been overhyped.