By Anti-CW

November 27, 2007 2:06 PM | Link to this

According to CW, this is all a bunch of hogwash. Remember, CW has that “vision” thing nailed down. That worked out great for him on WM. I think he’s lost about 1/3 of his money so far on that stock.

These economist can’t tell us where the bottom will be. We’ll know it when sales pick up and the median is staying level.

Until then, just wait and watch the turmoil. And buyers shouldn’t worry about timing the bottom correctly. I’d rather pay a little more for an appreciating asset than be like CW and spend all my money on something whose value is still dropping like a rock.

By the way, a house in my neighborhood in 33458 sold in mid 2006 for 610k. I just saw it listed for 499k. The owner is probably another CW disciple.

By easyasabc

November 27, 2007 3:26 PM | Link to this

I think Jeff is losing it…..he posted this story before at 1:17 am in the morning under a similar headline…..maybe he got his column deadline mixed up with that Ohio newspaper he works with under a false name……..did anyone ever see UF research reports three years ago how unqualified Starbuck coffee drinkers were going to lose their homes through foreclosures due to the intrest rates??????………why is the “have nots” picking on CW for telling the truth?????……Where is Marilyn these days?????…..I heard a rumor she let it ride all on black….and now she is in the red, living in some cardboard box by the Vegas Greyhound bus station…….I have said it before about what will it take to make this housing situation get better…..it is the economy stupid!……only a few areas in this country have a great economy ….Seattle, California, and pockets in the Northeast and Northern Virginia…….prices are going up….look at the gas prices, food prices, retail prices….if the average homeseller did not get your money, then Corporate America will this Christams season……big ticket items, movers, realtors, bankers, lenders, repairmen, contractors, builders….they will all be hurting due to the housing situation in the coming months…..long run, new home construction will be off for a few years, but existing real estate market will benefit from it………CitiBank will layoff up to 40,000 people soon…….You know, the Palestinians are looking for a homeland…..and this country has many empty foreclosed homes….lets see, do we want them here in South Florida????….it’s hot, but too many of you know what type of group will protest of them living in the area…..and then we will have rock throwing along I-95 and burning tires and guns firing off….you know, just like what happens in Riveria Beach every weekend………what about Arizona?…maybe the illegals from Mexico might protest then…Poor Arabs will always work cheaper than Mexicans…….I know, lets send the Arabs to Mayberryland…..I bet “Carolina Gal” can sure use the new business with “Average Guy” not paying her anything for her services……and Rich R. can promote and sell his disfunctional/STD drugs that he uses himself…….time to wipe the foam away from your mouth Rich……….I am still laughing at the guy who hates “CW”……you do need help with your hated on CW….ask RCA for the hotline that treated him……..let me give the weather update to all those who read us from NYC, Boston and Dayton…..it is sunny and in the mid 70’s here…..how are you doing up there?……..update on the whacky police stories that go on here….From CNN, a man in Orlando walked into a bank today and asked for a plane ticket back to India…..bank called the police and the next thing you know it, over reaction takes place…..SWAT team and bomb squad gets called in…….all based on his national orgin…..maybe the banks in India do sell plane tickets and he figured they do the same here!!!!!……………..Prices years and years away….sounds like Jeff watches too many Star-Trek shows….In a Galaxy far, far, far away……put your Spock ears away Jeff…..it will be sooner than most of these experts know about our local real estate…….this area can recover with only 1% of the babyboomers came here to buy………I bet these day traders really get whacked with this crazy stock market….up one day, down the next…….stocks down 10% since the high….what has been our value drop in local real estate market????…4% !!!!……and recovery can happen in a matter of months……….Can someone at the Town of Palm Beach please clean up the beach….the view from my friends condo looks terrible…….and some extra sand can help also……three more shot in Lake Worthless….I bet Rich R. is glad he sold that cesspool home of his last year……..Linda Rawls, time for you to write another negative article on real estate….it helps your therapy…that what your editor told someone at the paper……Jeff, Cerabino said you put too much chemicals in the pool….both his eyes and peepee are burning……..I wonder if Alexandra gets a free meal at CityPlace and Downtown Gardens Mall when she talks about restaurants in her Sunday column…..when is that Bing Crosby Piano Bar going to open?????……I though Bing died in Spain years ago…..guy must have a great set of pipes at his age now……….here is a inside Hollywood story…Bing Crosby would have sex with all these women and actresses at Beverly Hills homes while a party was going on……and after he was done with them….Bob Hope will take his turn on the women…….but most turned down Hope afterwards…..a true story! ……Martin and Lewis would also have women at their feet……Lewis would go through chorus lines every night, and Dino would relax and only watch westerns nad be faithful to his wife……Dino had a very nice house in Palm Springs with a great view…..he was a good catholic from Stubenville, Ohio…….when in Palm Springs, go up that hill on the bend of route 11 that goes through the town….many Hollywood stars had homes up that hill…..There is a DQ at the bottom of the road……DQ, I need one now…….have to go now….Madcow is taking over and I need my meds…….damnm that Rich R., he sent his Viagra pills by mistake to me……these medical research companies will take over all of us in the end.

Life is good in Palm Beach.

easyasabc

By Get in the Game

November 27, 2007 3:38 PM | Link to this

NO ONE can predict the housing apex or nadir.

God knows not economists. Where were these soothsayers in 2005? Exactly. Now, these guys want to throw their hat in the arena.

Just pick a trend in a certain direction and compare the fundamentals against historic correlation.

Very simple stuff.

So, if you think 2000-2005 prices are normally supposed to double within a 5 year span, then buy.

If you think housing outperformed some equity markets (by a lot) and this appreciation cannot continue to increase at this rate, then wait.

By FL Renaissance

November 27, 2007 4:50 PM | Link to this

And this is bad news how? Love it, love it, love it! To the Victor goes the spoils. Thank you Palm Beach Post for helping those of us with the means to prevail much easier in enhancing our portfolio of “distressed” high-end properties which heretofore were out of reach for us bootstrap billionaires in the making. Truth be told, the tremendous PR assist your paper provides greatly facilitates this. Them that got-gets, them that not-rents. Thank you too Professor, as a gesture of my gratitude, your next rent increase will be held to a mere 8% instead of 10% as planned as you wait for the affordability index to become more favorable. Enjoy your latte at the campus Starbucks.

By ChicagoWeather

November 27, 2007 5:40 PM | Link to this

What is this obsession some of you Florida people have against cold weather? Indoor climate control systems work both ways. So its cool in Dayton now. Say, hows that weather in Palm Beach County in July? Stifling? How about September? More stifling?

It makes me laugh the way cheerleaders refer to this place as ‘paradise’ with ‘perfect weather.’ If the weather here is so perfect, why is everyone sealed up tight in air conditioned homes and cars 95% of the time? If the weather is so great, open up the bloody windows. Go for a walk, or run OUTSIDE, not on a boring treadmill.

Weather goes both ways. Ive lived year round in many places. Grew up in Detroit, since then, lived in Chicago, Nashville, Sydney(Australia), the Carribean, Phoenix, Chicago again, now South Florida.

Let me assure you, there is no perfect place weather-wise. Sure, some are more comfortable more often than others, but theres always another side.

Phoenix is awful. 4 million people living in a desert city with no natural dependable water supply. They say its a dry heat. A pizza oven has dry heat, but you wouldnt want to live in one.

Sydney is nice most of the year, but winters can be chilly considering few homes have any central heating. 48 degrees isn’t that cold, but when you wake up and its 48 INSIDE your home, thats chilly!

Winters in Detroit and CHicago can be miserable, but the real cold only lasts a few months. Plus, you know that Spring is just around the corner. No greater summer city in the world than Chicago. Detroit is a dump all year round.

Then we have Florida. Certainly pleasant THIS time of year. However, Once April rolls around, get ready for 6 months of soggy, stagnant humid hot misery. This is the only place Ive lived where open windows and fresh air CAUSES mold to grow, as opposed to everywhere else where fresh air prevents it.

Having experienced both extremes, I definitely prefer scraping ice off of my car window in Winter, to cleaning mold off of various items in the summer here.

Central climate control systems work both ways. Wearing a jacket and gloves is no worse than getting sweaty walking from the car to the office.

Heres to having FOUR seasons. The way God and nature intended it.

By FLRen-Falling RENts!

November 27, 2007 6:02 PM | Link to this

I used to think Easy was the king of absurd comments, until FL Ren and his ‘rent raising rant’. Surely you can’t be serious FLRen. Youre actually threatening to RAISE rents in this market? You know, most renters do know how to read. Consequently, they know that there are rental bargains galore to be found these days all over SoFla.

Most renters realize that they cant be duped into paying $1800/mo for a 1brm such as in “Max’s Magical Land of Realtor Make Believe.” They know they can walk across the street and rent a perfectly fine 1 brm for $800/mo.

Raising rents these days would be akin to Publix raising its prices after a Super Walmart opened across the street. A sure guarantee to lose business.

Go ahead FL Ren, raise your rents. Good luck. Youre gonna need it.

By Curious

November 27, 2007 6:20 PM | Link to this

This current residential real estate market really sucks for active property improvement types who want to stay in this area and are ready and able to buy; … and it appears to be more of the same until 2009 or beyond.

Sure, much has been made of renting; it does not make sense at this time to buy an average 1600 sf, 3/2/2, SFR for $2 - 300,000 (along with all the other tax, insurance, maintenance, etc. expenses and problems) when you can cut a single check each month for $800 to $1200 and rent the same and be free from such worries.

The downside however, especially for creative younger people, is that you are stifled. Interior and exterior home improvements endeavors make no sense since you do not own and have no equity. Best use at this point for all that excess time, IMHO, is to become experts on the market and houses in your target area. You’ve got nothing but time, and it is on your side, so start gearing up to making lots of lowball offers you can “justify” to hopefully buy something that will not depreciate below what you paid in the coming years. You will not be popular, routinely cursed, called all sorts of names, but who cares! This is a risky business decision, like a poker hand, and no one is forcing anyone to do anything.

You first need to establish a compatible working relationship with a good attorney and CPA who know what you are attempting (this does not cost anything up front — they make their money when the action starts. This is especially important if you are looking at rental properties), then a thick packet of blank real estate contracts. What follows is just hard work going out week after week practicing, increasing your knowledge, inspecting and appraising properties and making lots of offers – cannot tell you how many I have written late in the afternoon on the fender of my SUV. If you really work hard you will probably have one or two hits a year, leastwise that has been my experience.

You never know what the seller’s life and real situation is despite all their rants and BS, and it only takes one who is at that special point where your offer looks good compared to anything else received and takes it.

Have not mentioned relationships with Realtors. That can be good also — with other caveats.

This is just my $.02 friends and hope you appreciate.

Cheers!

:-)

By A.P.

November 27, 2007 7:18 PM | Link to this

I can see it’s more of the SAME rhetoric going on.

Is this U.F. report really bad? NOT REALLY.

“2005 prices are years away” this report states. Years away is very SUBJECTIVE, however, I’m sure it’s going to COINCIDE with the normal CYCLICAL period. It will not be that far away. NO PROBLEM!

I thought the GREAT NastraFINKus once said that we will NEVER see 2005 prices in our lifetime.

If this blog had the A.B.A. (American BONEHEAD Award’S), We all know who would win!

NastraFINKus, Make sure you DON’T SPRAIN your hand PATTING yourself on the BACK!

Curious, We all know what you can do with your 2 cents worth of information.

YOU can SHOVE it up your BROWN EYE!

CHEERS :)

By Curious

November 27, 2007 8:14 PM | Link to this

En passant:

Sooooooooooooo many losers, and soooooooooooooo much time.

Go get em!

By To Falling RENts

November 28, 2007 1:17 AM | Link to this

From Business Week:——————————- Tighter lending standards at play———————————- The national picture looks like this: Fewer homes are selling and rents are on the rise. It’s a big change from just a few years ago, when home prices were appreciating like mad and everyone wanted to benefit.

“During the housing boom, the ‘rent vs. buy’ decision became a ‘buy,’” says real estate appraiser Jonathan Miller of Miller Samuel, New York “Now, nationally, the pendulum is swinging the other way.” As a result, there are fewer vacancies and increased demand for apartments, allowing landlords to raise their fees. Tighter lending standards also are increasing competition for rentals by locking more people out of home ownership, Miller says. According to the New York real estate firm Reis, the average U.S. rent rose 1.1% in the second quarter of 2007, to $1,002, 7.74% higher than it was two years ago. The national vacancy rate fell to 5.8% in the second quarter, from 6% in the first. FL Renn is correct with the exception of crapholes which is where I’m sure you presently rent. You are a know-nothing from nowhere decent!

By Steve Webster

November 28, 2007 5:41 AM | Link to this

Great report, Jeff. As frequently happens, you are the first Florida journalist to cover this, and it’s important. How long before one of our poobahs claims the ‘housing crisis’ is really an affordable housing program?

By Steve Webster

November 28, 2007 5:42 AM | Link to this

Great report, Jeff. As frequently happens, you are the first Florida journalist to cover this, and it’s important. How long before one of our poobahs claims the ‘housing crisis’ is really an affordable housing program?

By wit

November 28, 2007 8:46 AM | Link to this

Many posters here are very clever and witty writers.

Almost redeems them for being so wrong for so long about RE in SoFl.

Now, instead of “prices rising as we speak”, its “these falling prices are great for me”.

Since they are entertaining to read, we can’t call them TOTALLY witless. How about half-wits ?

By TO the Weather Tool

November 28, 2007 8:58 AM | Link to this

what would you know about fighting mold by leaving your windows open? We all know you can’t leave your windows open in downtown Delray…if the weather is so peachy in Chicago in the summer how come we always see reports of people DYING in the summer when they don’t have A/C??? When was the last time you read about someone in SFL dying from a heat wave? (or a cold front)

If the weather in the winter is so great why the hell does the population of SFL double overnight after the first snowfall?

S FL is one of this country’s most moderate and temperate climates. That’s why there are 18M plus people in this state and growing. What’s the population of Illinois??? What about the projected growth??? Ever notice how 3 of the 4 most populous states are in the lower latitudes? Could it be temperate climates?

Please finish your schooling and leave our state, we’ll be much better off.

By North County Resident

November 28, 2007 9:07 AM | Link to this

Below is a link that shows home prices and sales by zip code for Dade, Broward, and Palm Beach counties for the third quarter. It is past information but does higlight trends. Shows sales and pricees for the third quarter. http://www.dqnews.com/ZIPFLDADE.shtm

By cw1900

November 28, 2007 9:38 AM | Link to this

Good morning,

I see the cw haters are out again. Most are bitter boobs, so who really cares. “Observer”, you nailed it on my “enemy”. We have different styles, we’ll never agree. So what.

“Enemy”, why don’t you use a name from now on, so I know who to laugh at? Every week or so you come out, whine and bit@h like a 14yr old girl, then you get point by point taken down, you go away, and then a few days later you come back to try again. Reactionary….rflmao, that was perfect for you, hot shot. BTW, why do you sit and stew about me so much? Fetish, perhaps? Jealousy? Here’s an idea. Don’t worrry about me and go live your life. Stop listening to analysts and start making some money. If you have a strong foundation, you won’t worry so much about the little day by day ups and downs. Over time, you’ll grow your net worth slowly and steadily. It’s easier, and one reason you seem to hate my guts. You’re a micromanager like Fink, but at least Fink has a sense of humor and he’s not bitter. If you like to get all worked up over the day to day moves, go buy Fink lunch and let him tell you how he does it. It apparently works for him, but not too well for you.

I’m going to do something that I never do. I’m going to copy and paste in an article I just read that makes alot of sense. It stresses long term as I always have. We can debate about the time frames the writer gives, but the general tone of his article makes sense. RE is for the long term, which many of us know, and if structured properly, you don’t get so riled up in downturns as so many of the Donald Trump wannabes are at the present moment. Fink is right about one thing that him and I totally agree on.

Credit.

This RE “problem” you doomers think is the end of the world is more a credit problem than anything else. Too many “Donald Trump wannabes” that I have made fun of for months overextended themselves, cashed in the 401k’s, took out helocs, and frenzied themselves into oblivion.

“Enemy”, if you know anything about me, I never abuse credit, and I never frenzy. That’s why you’re mad at me. I don’t really care about this RE mess like you do, and it digs at you for some reason. I go the route of the tortoise and you apparently go the route of the hare.

Guess what? I’ve read the story a few times. The tortoise wins. Change your bad habits, and you’ll sleep at night like I do.

Anyway, here’s the copy and paste…..

“Peter Drucker said “The greatest danger in times of turbulence is not the turbulence. It is to act with yesterday’s logic.” Turbulence in the real estate market will shake out the real investors (professionals) from the dreamers (amateurs).

The media is full of doom and gloom and situation is likely to get worse before it gets better. Depending on which pundit you listen to, it will take anywhere from two to ten years for the market to turn around. My bet is three to five years. Those who survive the market will reap the benefits when the market turns around as it will, sooner or later. However, if one looks at the history of Real Estate, it can be seen that the market has ALWAYS bounced back to be bigger and better.

Survey shows that many investors are giving up because they don’t have the cash flow to survive the down turn. Cash is King and cash flow is vitally important to ensure your survival. You need cash flow to cover your mortgage payments (some with adjustable rates kicking in at a higher rate), taxes & insurance and general upkeep. We could go on and on why cash flow is so vitally important. Now consider the plight of those investors who have vacant houses and making their life heII.

Perception is reality - The best tip I can give you is Not to believe all that you hear in the media. Whether it’s true or not, your perception will become your reality. There are plenty of investors who are doing well in this market. Start with your new belief that you can survive and make money in this market. The Chinese symbol for crisis and opportunity are the same. You can make a great deal of money in a down market if you understand the new rules and strategies and position yourself correctly.

Ride the down turn - Don’t sell. Yes, don’t sell. Whether it’s good times or bad, my advice is always to hold on to a house if you can. Your wealth and passive income will come from holding on to Real Estate, not selling it. During slow times, tool up. It’s not going to be like this forever. Get yourself ready for the next go around. Use any extra time to further your education. Take courses in not just real estate topics (e.g. short sale, probate, foreclosure, etc.), but also general business skills like management or accounting. Attend Real Estate conferences so you can learn both new information and meet people.”

Ok, that’s it. Many of us non-doomers believe this commentary and many of us have been saying exactly that since we’ve been here. That’s why FL Ren, Max, AP, Easy, Wake Up, crazydem, and the rest aren’t so worked up like the doomers are. That means the majority of the doomers are exactly what they say they are not. They’re overextended and living a present day heII. It sucks to be you, if that’s you.

Just as the stock market selling right after 9/11 was overdone, this RE mess is overdone, and just like those of us who bought more stocks in the days and weeks after 9/11 and made a killing in the long run, that same mentality will keep their feet on the ground now, put their emotions aside, and prudently pick up bargains while the bandwagoned and the panicked head for the hills.

Have a great day.

cw

By crazydem

November 28, 2007 10:02 AM | Link to this

Gee owzers-Leave the country for awhile and things really go downhill…I see the Raw is continuing it’s best Baghdad impression while Bush glad hands with middle eastern men in towels…The market, well you all know what happened there…

All I can say is opportunity is right around the corner. Why’s everyone get in such a tizzy this time of year based on sales during a 24 hour period at your local mall? Is this our gauge of economic progress??? Maybe this is the CNN indicator-those that follow it are also those dumping everything right now so as to avoid “losing” money. You know nothing is happening when you check CNN and the top headline deals with how much money struggling consumers spent on plastic items made in China. Is this what we do with all our money that we suppossededly don’t have since our houses have lost all this value? Something doesn’t make sense…Some real opportunities in the country I went to last week-only thing I could think is that this is what California looked like in the 50’s…Talk about cheap real estate! In some ways it felt like home, except in this country you could actually drink the tap water!!!

When there’s blood in the streets, it’s time to buy real estate.

By Get in the Game

November 28, 2007 10:22 AM | Link to this

‘Blood in the streets”

Not even close.

No major pain yet in the equity market. Just rhetoric on how ‘cheap’ stocks are when you consider their Price/Earnings ratio.

Well since earnings are going significantly down with house builders, mortgage guys, and financial engineers…the jury has not even begun to deliberate on those issues yet.

When some MAJOR companies in one of these sectors (above) goes bankrupt, then some pain shall be felt.

Foreclosures, again just a drop in the bucket, just starting BTW.

Keep stressing EQUITY vs debt.

As far as CW’s cut and paste, if one thinks residential RE is an investment then why ‘catch a falling knife?’

However, if a house is just for quiet use and enjoyment, go ahead and buy, because who cares ‘you gotta live somewhere.’

By rentals

November 28, 2007 10:23 AM | Link to this

http://palmbeach.condo.com/MapSearch/MapSearch.aspx?LocationID=1132&mode=rent

Rentals available all over, at very reasonable prices.

Anyone who pays too much is just too lazy to move, illiterate, or otherwise handicapped.

By CW Fan

November 28, 2007 10:28 AM | Link to this

“Those who survive the market will reap the benefits when the market turns around as it will, sooner or later. However, if one looks at the history of Real Estate, it can be seen that the market has ALWAYS bounced back to be bigger and better.”

Cw, why do you derive pleasure from nipping at the heals of the doom and gloom cult? LOL

By FL Renaissance

November 28, 2007 11:32 AM | Link to this

Well Done again cw …Truer words were never penned, but most of this crowd probably never heard of Peter Drucker (including PB Post blogmeister Jeff O; Linda Rawls; M, Beeswax et.al) much less ever studied or read him. The doomers probably think Peter Drucker is a brand of ice cream or a beer brand like Samuel Adams, Anyway, best wishes to you and yours this joyus Holiday Season, and to steal a quote myself…”Living Well is the Best Revenge” Cheers to easy, A.P. and Get.

By Inconsistent CW

November 28, 2007 11:49 AM | Link to this

CW, as always, is inconsistent in his positions.

He’s the consumate cheerleader, and the clear tone of his “article” is to get you fools to buy property in this terrible market.

But what’s he doing? Sitting on the sidelines!

Is CW investing now in PB County? NO!

So you should do as CW does, not as he says. DON’T BUY NOW!!!

Let those flippers/speculators roast on their negative amortization deals and when there is really blood in the streets (wait until this season is also determined to be a bust) then buy.

By To Inconsistent CW

November 28, 2007 12:12 PM | Link to this

Dude, you need a bigger cubicle. Are you in a dry spell in between girlfriends?

By amazing

November 28, 2007 12:16 PM | Link to this

No wonder some here do not see (or refuse to see) the RE meltdown. The pathetic, pedestrian pap pasted by cw has them in awe.

Druckers statements in ref to stock bubbles of past apply just as readily to RE bubble now.

Just substitute current players for past. :

“The last two years were just too disgusting a spectacle,” Drucker said. “Pigs gorging themselves at the trough are always a disgusting spectacle, and you know it won’t last long.”

Drucker termed Wall Street brokers “a totally non-productive crowd which is out for a lot of easy money.”

“When you reach the point where the traders make more money than investors, you know it’s not going to last,” he said.

“The average duration of a soap bubble is known. It’s about 26 seconds,” Drucker said.

“For speculative crazes, it’s about 18 months,” he said.

If alive, Drucker would be all over the current crop of RE hogs from CEOs to flippers who pumped up this bubble.

By Masilotti's rear end

November 28, 2007 12:24 PM | Link to this

South Florida Sun-Sentinel.com Wellington businessman pleads guilty in fraud linked to Masilotti

By Sally Apgar

Sun-Sentinel.com

11:01 AM EST, November 28, 2007

WEST PALM BEACH Click here to find out more!

In a stunning turn, Wellington businessman Dan Miteff changed his plea to guilty this morning at the beginning of the third day of this criminal fraud trial.

Miteff entered the courtroom at the U.S. District Court in West Palm Beach late looking ashen and distraught. Then, after conferring with his attorney, Chris Grillo, Miteff told Judge Kenneth Ryskamp, “I plead guilty.”

Miteff, 56, faced 20 counts in connection with a conspiracy with former County Commissioner Tony Masilotti to purchase 49 acres of land from Archdiocese of Palm Beach County in Royal Palm Beach.

Masilotti, who was expected to be called as a witness, is serving five years in prison for “honest services fraud.”

According to Ryskamp, Miteff faced as much as 27 years in jail and fines of close to $1 million.

Grillo said taking a plea would hopefully lead to a more lenient sentence for Miteff.

Sentencing is scheduled for February 1.

Miteff’s wife, sitting in the third row, said later, “This is his decision.”

hahahahahahahahahahahahahahahahahahaha hahahahahahahahahahahahahahahahahahaha hahahahahahahahahahahahahahahahahaha and even more hahahahahahahahahahahahahahahahahaha hahahahahahahahahahahahahahahahahaha hahahahahahahahahahahahahahahahahahaha hahahahahahahahahahahahahahahahahahaha

The Miteff’s world just came crashing down. Lead a fraudulent life and it will catch up to you!!!

hahahahahahahahahahahahahahahahahahahahha hahahahahahahahahahahahahahahahahahahahahh

His poor wife and kids….NOT!!! I hope they all suffer. Too bad. Shop at Walmart, get a cheap rental and go buy a $1000 car. You’re all busted!! hahahahahahahahahahahahahahhahahahahahaha hahahahahahahahahahahahahahahahahahahahahh

By Reader

November 28, 2007 12:35 PM | Link to this

To amazing,

“If alive, Drucker would be all over the current crop of RE hogs from CEOs to flippers who pumped up this bubble.” Cw has consistantly blasted the flippers and speculators and what he calls the Trump Wannabees on this blog ever since I’ve been reading it. You and him have more in common than you think. I think you’re reading him wrong. I’m not even sure he is a true cheerleader. From the way he talks, he doesn’t like to pay high prices for anything and has said to lowball offers 30 to 40 percent lower than asking price of anything you might be interested in buying. Wouldn’t a true cheerleader tell people to buy now and at close to asking price to get in while the gettins good? Am I right Cw?

By Michael Fink

November 29, 2007 7:50 AM | Link to this

In PBC, for anything but waterfront, you should pay ~1/sf/ft/mo (one dollar per square foot per month) for rent. A bit less if you are west of 95 or in a condo. A bit more if you are east of 95 or on the water.

That’s a good rule of thumb number to start from, and provides a good way to compare homes in different areas. Now, some of the people on here have mythical rental properties where they get 10 dollars a sq/ft. I suggest you look at the other units in these mythical buildings, they are probably renting for 2/sq/ft.

:)

Oh, in case your curious. Oceanfront (I was looking recently for a friend) is about 1.50 to 2 dollars per sq/ft for a high end condo building with direct ocean views. You can get on the ocean at 1/sq/ft, but you won’t have direct views, and will be in an older building.