In your typical market you would have to hold a property for at least two+ years to recoup your investment and selling costs. That is why it usually only makes sense to plan on holding your property for 3-5 yrs. Buying at high prices for anything other than shelter can be very risky. It is kind of funny, we are back into a "normal' market and you would think it is some kind of crisis. Well it is for some. You make money when you "buy" if you buy right you will be fine, if you bought wrong it could be tough to get out with all of your clothes on.
Chris
· 2 years ago
Great last phrase:
"We all have to really work for our money now."
??!!!? wow
jo
· 2 years ago
And realtors wonder why there is such disdain for them and such a want for companies such as Redfin!
They're digging their own grave.
nitsuj
· 2 years ago
"She paid $319,900 on 9/11/2007, and her asking price is $385,000."
If she really did buy it in September I guess real estate agents ARE as clueless as we give them credit for!
/broad generalizatoin
jo
· 2 years ago
she most likely reserved it over a year ago and closed on it 9/11
mattgoyer
· 2 years ago
Nitsuj, she bought it at presale and closed in September at that price.
nitsuj
· 2 years ago
AH-HA!
faster
· 2 years ago
But it's only seconds away from the Locks!!
The Locks!!!
You can see the rising water, the salmon ladder, and everything! Think of all the time you'll save when your parents visit. It used to be you had to drive to The Space Needle, Kerry Park, and the Locks, but now...you're only seconds away from the Locks!!!!
And on those days when you're really, really bored, you can visit the Locks because they're only seconds away! I for one don't think you can really put a price on that.
richard
· 2 years ago
Regardless of whether it was purchased presale, the inventory levels were a lot lower when she signed the contract. Now there are close to a hundred condos for sale within 5 blocks of hers and there will be hundreds more coming on the market over the next year.
Tight inventory supports high prices. Inventory is no longer tight.
Chris
· 2 years ago
As much as I'd like to give her a hard time for being a Realtor and not understanding basic economics, no one could accurately predict when the market would come apart. the bubble theoerists had been at it for over two years and the market was red hot as ever when she signed the PSA, I'm guessing Spring 2006.
I don't think she's getting a hard time on her market timing, I think it's more the fact that there are better units for less available in her building. But hey, more power to her, someone may buy it...
All Comments
I have a feeling she's gonna own that condo for a loooooooooong time.
Maybe forever.
Canal Station is the new flipper central!
here's a 4th floor, view unit, more sq feet, and priced 1k less
http://www.windermere.com/index.cfm?fuseaction=...
"We all have to really work for our money now."
??!!!? wow
They're digging their own grave.
If she really did buy it in September I guess real estate agents ARE as clueless as we give them credit for!
/broad generalizatoin
The Locks!!!
You can see the rising water, the salmon ladder, and everything! Think of all the time you'll save when your parents visit. It used to be you had to drive to The Space Needle, Kerry Park, and the Locks, but now...you're only seconds away from the Locks!!!!
And on those days when you're really, really bored, you can visit the Locks because they're only seconds away! I for one don't think you can really put a price on that.
Tight inventory supports high prices. Inventory is no longer tight.