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Friday, August 11, 2006

Spotted In Monroe

YOUR NEXT HOME WILL NEVER COST LESS THAN IT DOES TODAY
Name & phone number have been liquified to protect the—well, just as a courtesy. In case you are wondering—no, they are not a REALTOR®, so I guess they don't have that pesky code of ethics to be concerned with.

Thanks to my former coworker JP for the heads up on this.
Please read the rules before posting a comment.

22 comments:

Dukes said...

Scare tactics. It really is a shame that this will work on the uninformed. Unfortunately for them they will be buying an "albatross" - but there must always be a greater fool.

Eleua said...

Well, this smacks of desparation. If they actually had property people wanted at a price they would pay, they would use their sign to pimp the property.

Does anyone remember "Animal House," and the last scene where Delta is FUBARing the homecoming parade?

Kevin Bacon, in his ROTC uniform was exhorting the crowd to remain calm.

This sign is just toooooooo good.

Imagine the absolute flop-sweat panic that will be on when this bubble is actually in serious bust mode.

Anonymous said...

why are you people SO SURE it is gonna burst? what makes YOU any smarter than anyone else regarding this topic? I believe there will be a slowdown as well, as I think people will eventually not pay $400k for a dump in Greenwood anymore, but all of you are seemingly snickering and SO SURE of it.......i believe it will happen, but i certainly am not apt to being wrong either

The Tim said...

anon @ 10:03 AM,

I think it's best to just assume that with most people, when they say "such and such will happen" what they mean is "I believe such and such..." It just is somewhat extraneous to continually insert the "I believe" clause, when obviously it's what you believe, otherwise you wouldn't be saying it.

That's how I am, anyway. I openly admit that I have just as much 100% certain knowledge of the future as the next guy, and even as much as the so-called "experts," which is to say none at all. When I talk about things I think will happen, I may not always insert "I think" or "I believe," but it's implied.

cosmos said...

For you "anonymous" --->

From the Money and Markets daily newsletter: "I have repeatedly warned you about major, major problems brewing in the housing and lending industries. I said a credit disaster was unfolding ... I explained that the "soft landing" scenario was a bunch of baloney ... and I red-flagged many stocks vulnerable to a serious plunge.

Now, fasten your seatbelts: Things are getting very ugly, very quickly.

The latest news from WCI Communities (WCI) will blow your mind. WCI builds condo towers and single-family homes all over Florida and a few other places. I want to direct your attention to a line from the company's earnings release this week:

"Tower homebuilding orders for the second quarter 2006 decreased 82.6% in value to $57.0 million and 88.8% in units to 36."

Orders for condo towers declined 88.8 freaking percent? That's insane!

If that's not a total market collapse, I don't know what is. The market is coming unglued even faster than even I could have imagined.

And this is not an isolated event ..."


Yes, this is just one analyst watching the housing-stocks market, but with these kinds of facts, you don't have to be a genius to see what is happening. Despite all the overly optimistic naysayers, Seattle will suffer a RE setback too. Barring "a miracle," it is really inevitable.

Peckhammer said...

Yes, this is just one analyst watching the housing-stocks market, but with these kinds of facts, you don't have to be a genius to see what is happening.

But Seattle is different...

Peckhammer said...

BTW, the sign you spotted in Monroe has been there a long time. I pass it every weekend on my way to Goldbar/Index to destroy the forest and do battle with Meth-Heads.

matt said...

That sign is a holwer! Never cost less than it does to day? Hahaha, like anybody really cares about price anymore?

Really, price is meaningless, all that matters is the monthlies, that's all anybody cares about... Unfortunately, to have a little honesty in advertising the sign should've said...

You're monthly payments on your next home will never be as low as they are now!

Yes, you too can get onboard the rollercoaster with a no-doc/neg-ams and get those monthy payments down to $700/month on a 300K Monroe fixer upper! Yeehaw! Where do I sign up!

matt said...

(sic) on that last post... grammar issues today...

Anonymous said...

How can a sign like that even be allowed? That's like having a sign outside a brokerage office saying Microsoft stock will never be worth less then it is today! Who would you contact to report something like this? NAR?

Anonymous said...

has anyone considered that they might be right? that prices will might never get any lower. There might be a pause in increases, maybe even a slight drop. But in the longterm prices will always go up. What if salary's keep up. What if the Fed pauses rate hikes and even lowers them in a few years. What if people continue to earn more money and the migration from other cities continues....

dont laugh so quickly at this sign what if its true

biliruben said...

Salaries are declining in the region, not continuing to go up.

I think there is a good chance that the fed will drop rates, perhaps quite soon. This will probably be a reaction to a housing decline-induced recession, however, and it will be too little too late.

Is there significant migration from other cities? The population of Seattle, the only area where I beleive land scarcity might remotely be an issue for price pressures, is the same as it was in 1960, or there-abouts.

Anonymous said...

Don't laugh so quickly at this sign. What if it's true?

Semantically deconstructed, the sign is indeed true (I've tossed in some apostrophes and other punctuation marks as it appears your keyboard is missing them. There is no need to thank me.):

"Your next home will never cost less than it does today."
Do you own your next home today? No, you own your current home, or you rent, but you never own your next home TODAY. Will I be paying insurance on my next vehicle today? No.

So you don't pay anything TODAY for your next home. And your home will never cost less than NOTHING, be it your current or your next home.

It's like those "earn as you learn" gotchas. They WANT you to think you make money attending training. What it really means is that you can work at another job while you get trained for a different one.

Of course, for all I know there could be a proposed increase in property tax in Snohomish County, which would indeed make ownership of one's next house slightly more expensive.

Anonymous said...

So you are saying that a broker should be able to put a sign out saying "Your next stock will never cost less then it does today?". What if I did buy my next house today? You are saying it Will Never Cost Less?

"has anyone considered that they might be right? that prices will might never get any lower. There might be a pause in increases, maybe even a slight drop. But in the longterm prices will always go up."

I hope you are joking. The sign said it would NEVER cost less then it costs today. If there is a slight drop EVER then the statement is not true. The fact that people here are trying to defend the statement is laughable.

Anonymous said...

And you can buy your 'next house' TODAY. I could put the cash down and sign the papers two hours from now.

Anonymous said...

In fact I may just go buy my next car today. Will that never cost less?

richard said...

The actual page on the city of seattle website is missing, but google's cache has the Seattle population by decade

Anonymous said...

has anyone considered that they might be right? that prices will might never get any lower.

Yes. Repeatedly.

In fact, before you post again, you might want to read a few of the old threads. Go troll somewhere else.

Anonymous said...

Prices YOY have already gotten lower. see Benegebreth housing tracker.

Down 0.2%. Case closed. this is just the start.

meshugy said...

Prices YOY have already gotten lower. see Benegebreth housing tracker.

1) The Housing tracker only shows up to 9 months ago

2) Those are asking prices, not sold prices

3) The July MLS reports shows that King county prices are 15% up YOY.

Case closed....

dash_point said...

That's quite an impressive sign--similar to those slogan billboards outside churches:
"TURN--OR BURN"

Pete said...

Nice Advertising!