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Tuesday, November 17, 1981

Friday Open Thread

This is your open thread for today. Please post random links and off-topic discussions here.

54 comments:

trackbike said...

From the Daily Journal of Commerce:

Apartment market is heating up


The Seattle metro area's economy remains strong, which is good news for apartment properties, according to a report by Marcus & Millichap.

Growing demand for apartments — a product of job creation and escalating home prices — is lowering vacancy rates and pushing up rents.

“Apartment prices have experienced only mild gains to date, and the market's continuing improvement is generating substantial investment activity,” said Gregory Wendelken, regional manager of Marcus & Millichap's Seattle office, in a news release. “Out-of-state buyers are increasingly targeting Seattle, particularly buyers from overheated California markets.”

Here are some key points from the firm's Seattle Apartment Research Report:

• Employers will add 46,800 positions in 2006, increasing payrolls by 2.8 percent after 61,500 jobs were added in 2005.

• Renter demand will remain high, and new units will be quickly absorbed. Vacancy will decline 1 percentage point to 4.8 percent by the end of the year.

• Asking rents will increase 6.1 percent to $930 per month. Effective rents will continue their impressive run, picking up 7.2 percent to $880 per month as owners cut back on concessions.

• New construction will total approximately 2,300 units this year, after 1,750 units came online last year.

• Over the past 12 months, sales prices have posted mild gains as the median price rose to $96,500 per unit, up 5.4 percent from 2005.

Kaleetan said...

This is a pretty funny post from today.

"fortune tellers"


"Housing Market Fortune Tellers
Everywhere we turn someone has a prediction about the housing market.

Do we listen to the angry guy at Housing Panic who asks his supporters to flame anyone who disagrees with him? Or should we follow Timothy Ellis at Seattle Bubble whose profile says “Just some guy, living and letting live.” But in comments on the Seattle PI Real Estate Professionals blog and Rain City Guide blog, under the screen name synthetic, he writes negative and mean spirited attacks.

Or should we believe the reporters who believe hype is better then news? Many of whom do not deal with the housing market on a daily basis and are writing about a topic they have barely dipped their toe into?"

The Tim said...

But in comments on the Seattle PI Real Estate Professionals blog and Rain City Guide blog, under the screen name synthetic, he writes negative and mean spirited attacks.

Hah! Libel is funny!

Grivetti said...

"Or should we follow Timothy Ellis at Seattle Bubble whose profile says “Just some guy, living and letting live.” But in comments on the Seattle PI Real Estate Professionals blog and Rain City Guide blog, under the screen name synthetic, he writes negative and mean spirited attacks.

How about we not listen to whoever wrote that half-arsed blog, dude for some reason has developmental issues that hinders him from looking under the 'blog contributors' in the right hand column...

Chad = Tim... huh?

synthetik said...

From my perspective as Tim's alter ego, it's much worse to mislead the public for your own gain (i.e., RE agents, mortgage brokers, RE lawyers, on RCG) or (Seattle PI, Seattle Times - for ad revenues) than to tell the truth about what's happening.

Of course I'm going to be a little pissed off at what people are spewing.

People don't want to hear the truth and it upsets them. Too f'ing bad!

Grivetti said...

Apartment market is heating up

Yeppers... this is the 106ยบ temp marking housing bubble fever, the last symptom before the patient fades...

Boston suffered the same plage last year...

Condo conversions spreading

High prices are driving first-time home buyers into some long-neglected cities and Boston neighborhoods, fueling record condominium sales

The buyers include empty-nesters and well-heeled professionals seeking an urban lifestyle

While a hot real estate market brings new money and improved services into hard-pressed neighborhoods, it also pushes rents beyond the reach of many workers

East Boston rents have surged as property values have risen, though.

The year all this hooplah was written? A few days ago perhaps? Nope...

May 3rd, 2005

What's Boston look like nowadays?

Housing market ‘upside down’ : More homes selling below purchase price

would-be condo sellers stuck trying to unload units in a difficult market may be looking to get as much as they can, even if it’s far less than what they paid.
...One downtown broker describes a North End condo owner who bought his one bedroom at the market’s height for $330,000. He is now “in pieces” after having to sell for $320,000.

Nov 1st, 2006

...but Seattle's different, right?
What a difference a year makes...

synthetik said...

Kaleetan's "funny" post, comes from a realtor (surprise, surprise), who is shamlessly using his dog in a radical marketing scheme. The "radical" realtor lists his "10+ years in IT/Program Manager" as a plus in helping you find a home.

Leaving tech for real estate was probably a good move in 99' but, well, not so much today.

Very much like these people, a whole family of punch drinkers who will soon be open a family apple stand on the corner of Pike and 1st.

Christina said...

Overheard... a FOAF's Queen Anne Condo has finally sold, after being on the market over three months. "Why so long?" I asked. "She put it on the market at a less-than-ideal time," (July) was the answer.

It's been two weeks and the $548K house on our block still hasn't sold. The one across the street, priced at $410K, sold within a week. So did the $548K one when it was priced at $380K three months ago. I wouldn't think a house priced $150K above the other houses on the street would be an easy sell, but what do I know, I'm not a flipper or a Realtor.

Grivetti said...

"She put it on the market at a less-than-ideal time," (July) was the answer.

right... the weather was too nice, and the Mariner's were losing, dollar-vs.-peso such that everyone went to mexico... or something...

Peter Taylor said...

Synthetik said:

Kaleetan's "funny" post, comes from a realtor (surprise, surprise), who is shamlessly using his dog in a radical marketing scheme. The "radical" realtor lists his "10+ years in IT/Program Manager" as a plus in helping you find a home.

Say, Kaleetan - haven't you said in the past that you have 10+ years as an IT/Program Manager?

Kaleetan said...

Sorry pete -
I am not the Radical Realtor. Besides, If i had a big orange head like that, I would have not have posted a pic ;)

Ardell DellaLoggia said...

Synthetik,

I write a large percentage of the articles on RCG. I honestly don't see more truth in your writings than mine. I spend a great deal of time testing everyone's "truths". I run stats. I watch the market closely. From my vantange point every house not selling has a reason why, and every house worth buying has more than one offer. That is my truth, after exhaustive research as of today. Truth changes...lies stay the same regardless of changing realities.

The "Bubble Bursting" would not change my income. In fact it could increase my income. "It's time to SELL!" is the same as "It's time to BUY!" in terms of Realtor self-interest issues.

I have cautioned people not to rely on the market to continue as it has in the past.

But you seem to target RCG unless we tell YOUR truth, which is really very far from the truth, isn't it? Prices rolling back to 1997 levels? I see no justification for THAT "truth".

You once said that I, personally, must own a lot of real estate. Not true. Easy to check. I own my home that I live in. To date I truly believe that I have been more on a responsible quest than you, to find "the truth". So why do you target RCG in your comment?

Grivetti said...

Ardell:

So why do you target RCG in your comment?

Not to chime in, but to chime in... As I see it, all blog's have an agenda, why? because they're blogs, people on them aren't journalists, they're people with an opinion... and as it sits,

...when I see an 'anti-bubble' blog, they're usually, if not 100% manned by Realtors, Mortgage Lenders, Sellers, Owners with a vested interest in continued asset appreciation (the housing ATM crowds, etcetera...), people who've invited risk by 'investing' in the current Greenspan induced credit bubble.

...This is a forum that's agenda is driven by potential buyers, and whenever you're catering to that crowd, you perfrom a 'consumer reports' type of activism. So you can flip on the TV and lazily buy into the '9 out of 10 doctors reccomend Chesterfields!' *time to smoke*, or you can neuter the vested interest and report numbers from people with no financial stake/risk in the current market.

As a some-day potential buyer, I tend to take the side of the latter.

Richard said...

What I find surprising about the "apartment shortage" is that rents on SFH's are still hovering around $1/sq ft/month for North Seattle. - the same as I paid 4 years ago.

Craigslist even has brand new townhomes with granite counters at under $1/sq ft. That wasn't available the last time I looked for an SFH rental.

Back in the late 90's, SFH rentals were in extremely high demand. This doesn't seem to be the case today.

synthetik said...

>The "Bubble Bursting" would not change my income.

Why? do you have some other side business I am unaware of? Please do not answer.

>Prices rolling back to 1997 levels? I see no justification for THAT "truth".

I never said that. I agree that for prices to return to mean, or back in line with "fundamentals", you'd take 1997 prices and add 3.5% appreciation per year. It's only a guess, but after watching San Diego plummet 40% in 1990 and then take 10+ years to recover, I can't see how that same scenario won't take place in bubble markets nationwide.

We could, in fact, have an "over correction", which could be much worse than my predictions of 1999-2000 prices.

>To date I truly believe that I have been more on a responsible quest than you, to find "the truth".

The truth is, of course, subjective; however I submit that I have nothing to gain personally - while you own real estate and depend on real estate for your income.

>So why do you target RCG in your comment?

I didn't specifically target RCG... but it's obvious that the site is set up to get people to use the goods and services of the bloggers on that site (realtors, mortgage brokers, RE attorneys, etc).

I don't recall posting there until baited with the "there is no housing bubble" post.

I fully understand that you have a job to do, money to make and that it is inconvenient for you to believe that we will have a large scale housing correction here in Seattle.

For those of us that can see this obvious impending event and its unfortunate and inevitable outcome for current homeowners and future FB's; well, I think it's a terrible sham.

As I've said before, your blog gets an enormous number of hits. It was also the very first website I visited upon arriving in Seattle.

People have been largely driven by greed and fear over the housing phenomenon. They don't want to miss out on the "equity train" and therefore will look for even the smallest bit of good news to confirm their belief that "it's a good time to buy".

They pick up the Times, the PI and possibly read your shilly blog and therefore make the worst financial decision of their lives.

If Seattle becomes the only major metropolitan bubble area NOT to sustain a major downturn (20-50%) I will be completely surprised.

That's my "truth".

Sham on.....

Grivetti said...

What I find surprising about the "apartment shortage" is that rents on SFH's are still hovering around $1/sq ft/month for North Seattle. -

I think this speaks to the significance that condo-conversions have played in the upward movement of rents. One thing to note is that when they tally the tight-market/sky-high rents, they're only compiling complex with 20 or more units... not the SFH/THM/DPLX market at all... which leaves the dubious claim that rents are skyrocketing because of the old RE selling point Robust-job-growth, etcetera...

synthetik said...

As far as rents going up, that may only be a short term phenomenon - if it happens at all.

We are in a situation of oversupply. As builders, specuvestors, flippers, and second home buyers attempt to unload their homes and are unable to - the only logical solution is to rent them out at a loss.

Grivetti said when I see an 'anti-bubble' blog, they're usually, if not 100% manned by Realtors, Mortgage Lenders, Sellers, Owners with a vested interest in continued asset appreciation

Exactly.

wreckingbull said...

Trackbike,

Excellent post! Without a doubt, rents will continue to go up. Cost of owning will go down. They will meet in the middle with a slight ownership premium when the market has properly corrected.

Other markets that are currently deflating have already started to see this exact trend. See 'Bay Area' for further reference.

synthetik said...

As far as kaleetan being the "radical realtor", I'd highly doubt that based on his use of the english language.

He's not the best imposter either...

synthetik said...

Finally, a bit of truth from CNBC - is this a sign of the apocalypse.

Here's some truth for you Ardell...

Hard landing for the housing market

"Housing starts for October tumbled this morning, dropping 14.6% to a seasonally adjusted annual pace of 1.49 million new homes -- the weakest level since July 2000. Bloated inventories and weakening home sales contributed to the drop. Economists had been looking for a 5.6% fall to a 1.67 million annual rate."

"Home-building permits fell for the ninth month in a row, dropping more than 6% to the lowest pace since December 1997. The drop in permits, which are often a measure of builder confidence in the real estate market, is a signal that housing starts could continue to fall -- and a sign that the slump isn't over yet.

"This is a shocking number,'' Phillip Neuhart, an economist at Wachovia, told Bloomberg News. "The market is going to remain weak well into next year."

"The sharp slowdown in housing this year stands in stark contrast to the past five years, when the lowest mortgage rates in four decades had powered a housing boom that pushed sales of both new and existing homes to five consecutive records."


How -anyone- can expect this not to continue to get ugly is beyond me.

Grivetti said...

Amazing what kind of reporting you get when you decouple the facts with the industry...

Anonymous said...

Very intersting that Realtors state that due to the Job growth rate, Seattle is immune to a housing slump. San Diego, continues to have a 9% job growth rate.....9 PERCENT, well above Seattle and the National Average, couple that with a housing shortage in regards to increased population demands, one would think they would be immune...and yet, they are experiencing the greatest housing collapse in years.

It is due to the massive amounts of equity they had when they sold their houses in the prime, that Seattle's prices climbed in the past few years. Those days are over. No longer can a Southern Californian lay down 500K without thinking about it. Sorry for the bad news.

Lake Hills Renter said...

Looks like he posted a correction regarding Tim/Synthetik on Seattle House Hound.

The Tim said...

Yes, I emailed him about the error. His response was more defensive/antagonistic than apologetic, but at least he posted a correction, even though it was newspaper-style (i.e., the original post is still unchanged).

kpom said...

Ardell,

You said:

"The "Bubble Bursting" would not change my income. In fact it could increase my income. "It's time to SELL!" is the same as "It's time to BUY!" in terms of Realtor self-interest issues."

----

That is obviously not true - one of the things that happens in real estate slowdowns is that the real estate transactions volume falls sharply (as is happening now). The problem with a falling market is that it is much harder to market houses to buyers if they don't appear to be great investments, and if it seems that waiting will get you a house for a lower price later.

Hork said...

Ardell,

I don't understand your logic about doing well personally in a falling market. Do you mean as a seller's agent?

As I understand it, a falling market in this case would be caused by a lack of buyers. If there are no buyers, how do you plan on making a commision if you become a seller's agent?

It takes both a buyer and a seller for you to make money.

As the number of sellers increase, prices come down and your commision will decrease.

It is really the number of buyers that influences your income. A situation where the number of buyers decreases is going to be no good for you personally.

Your statement that "It's time to SELL!" being good for you only makes sense if there are many buyers to match all the sellers.

The best thing you can do is to try to soften the psychological aspect of the bubble. However the double-edged sword of the media is going to make that very difficult.

In fact, if I were you, I'd probably be looking to get out of the industry all together for awhile. Realtors can be really mean to eachother. When the buyers dry up, there's going to be some fighting.

deeplennon said...

Seattle Bubble get's another shout on Seattlest today.

Hilarious.

Anonymous said...

Why the constant comparison to San Diego (where job growth is expected to stall in 2007, very different from Seattle)? Why not compare to other bubble markets in CA like Orange County or San Francisco, where there have not bee price declines?

deeplennon said...

"The truth is, of course, subjective; however I submit that I have nothing to gain personally - while you own real estate and depend on real estate for your income." - Synthetik

This statement seems hypocritical... tell me if I'm wrong, but I assume you care about this topic so deeply because you want to buy a house? That said don't you stand to gain personally if house prices go down? I know I would.

And that's some pretty crappy truth. I kinda like mine objective.

Peckhammer said...

Housing starts plunge

From Vanguard, which now appears to be including information on the housing market along with its reports on the stock market:

"The housing market took in yet another dose of discouraging statistics this week: New residential construction fell 14.6% to a seasonally adjusted 1.49 million units in October, the lowest level in six years. Most analysts had expected a much smaller decline. In addition, the figures for August and September were revised lower, further emphasizing the downward trend. Housing starts fell in all regions of the country except the Northeast. Permits for new housing construction, a key measure of future demand, dropped 6.3%."

synthetik said...

>This statement seems hypocritical... tell me if I'm wrong, but I assume you care about this topic so deeply because you want to buy a house? That said don't you stand to gain personally if house prices go down? I know I would.

Nothing I personally say or do will cause this housing crash - market forces are doing that all on their own.

True, I would like to be a homeowner again, however the more I look at the numbers that could be a very, very long way off.

The housing crash is old news and is not something I'm looking at on a daily basis anymore.

Watching the bubblishious equity markets are much more interesting. The markets continue to shrug off bad economic news and we're near record territory on # of days between a 2% down day (900+??).

There doesn't seem to be a real "safe haven" in any sector from what I can tell.

It has become apparent to me that owning any US-based assets over the next ?? years will be financial suicide.

Gold, precious metals, foreign currencies and energy are going to be in daily headlines soon (wheat?) and we're likely headed into a 70s-style stagflation era.

So yes, back in 04-05 (and early 06) I was gleefully rubbing my hands together thinking of all the wonderful income property I would soon own.......now I'm just taking a wait and see approach.

The housing crash, resulting death of consumer spending/credit, devaluation of the dollar, contraction in the manufacturing sector, 0 productivity gains, wages not keeping up with inflation, under reporting/manipulation of gov't numbers (CPI, GDP, etc), highest mortgage debt as % of GDP of all time, greatest debtor nation (govt' and consumer)...... on and on and on....

The FED will flood the economy with money thus destroying the value of the dollar.

So... buying a house a concern for me now or in the near future? Heck no... surviving what is likely to be a horrendous reboot of our economy that may come up as a windows-style blue screen of death...MUCH more important.

The more I look at this the more I'm in Eleua's camp... I see recession and rampant inflation, rising commodity prices. At the very least 1970's style or possible 1930's era...

Anonymous said...

Downtown... The job market for San Diego is NOT expecting to decrease for quite some time...don't know where you got your info from. San Fran Housing market is also decreasing sharply and there are many blogs from that area talking about the the bubble burst as well. Orange County has seen a decrease in housing prices as well.

the senseible comparison with San Diego is due to the fact that that city had seen drastic rises in prices over the past few years, as has this area....greatly due to the amount of San Diegans selling and moving here. the majority of the California buyers up here are in fact from that specific area, and I again assert that is was due to their equity rich pockets that inflated the prices here.

deeplennon said...
This comment has been removed by a blog administrator.
uptown said...

Well, I for one am planning to make money on RE after the bubble bursts.
Does that make me a bad person?!

deeplennon said...

Nothing I personally say or do will cause this housing crash - market forces are doing that all on their own. - Synthetic

I guess I'd like to remind you that you're a main contributor on a Bubble Blog.

The effect that mainstream media and the blogosphere have had on the psychology of the housing market has been pretty clear on both sides of the issue. The growing success of this blog itself is a strong testament to it's ability of getting it's message out. As you said earlier in a post, "all blog's have an agenda", and I think it's pretty clear what the agenda of this blog is.

To infer that Ardell is attempting to promote anti-bubble rhetoric on her blog for personal gain, yet you are not promoting an agenda that favours your position is still hypocritical, regardless of whether or not you want to claim that what you say doesn't matter. And frankly, if that's true then what's the point? In this market (like most) so tied to psychology what we all say matters. Especially at such a critical moment in the local market.

Oh, and can we trade jobs? I'd love to spend as much time as you do discussing something of nominal interest to me! ;)

plymster said...

Why not compare to other bubble markets in CA like Orange County or San Francisco, where there have not bee price declines? - downtown

Besides the vast differences in metro population (Pacific NW - 3.8 million, Bay Area - 7.1 million, Southern Cal - 17.6 million), economic size/diversity, weather, and statewide property tax-freezing initiatives, I can't thing of a good reason not to compare them.

Source: Housing Tracker
San Francisco ( +0.7% ):
11/2005 Median - $725,000
11/2006 Median - $729,999

Orange County( -2.2% ):
11/2005 Median - $629,000
11/2006 Median - $615,000

And for something a little closer, Boston( -3.2%, and rising foreclosures ):
11/2005 Median - $439,000
11/2006 Median - $424,900

synthetik said...

Oldest bubble cliche' EVER, "San Diego is the Canary in the Coalmine" for Real Estate.

Never heard that before???

synthetik said...

>and I think it's pretty clear what the agenda of this blog is

Of course there is an agenda! We're telling the story that MSM won't print. It's Paul Revere's wild ride.

Instead of 'the british are coming' it's 'wake up, housing prices are about to drop a massive deuce!'

I am drawn to this blog because there is a community of people here that have similar beliefs which helps to reinforce my ideas about the state of housing and the economy; heck, it's just plain fun to be part of (until recently) an almost "underground" society that can SEE.

As a side benefit many people will also "see" and therefore not purchase homes and save themselves from financial ruin.

It's a hobby... It's a gigantic trainwreck. How can you not watch it happen? Maybe we can pull a few people from the tracks before the train hits?

What's so hard to understand?

plymster said...

deeplennon - good point.

As a major contributor to a blog intended to make people think before spending a half-million on a home, synthetik clearly has as much to lose or gain as Ardell does as a major contributor to a blog designed as a marketting tool for RE Professionals.

Since synthetik does not get a paycheck every time someone does not buy an overinflated house, clearly, he has as much to gain or lose as Ardell, who gets a paycheck every time she makes a sale.

Ergo cogito sum - Synthetik is a big, old hypocrite.

deeplennon, clearly you have a monopoly on "truthiness".

Anonymous said...

Well economists at the University of San Diego seems to think local job growth next year will be much slower:

http://www.signonsandiego.com/news/northcounty/20061111-9999-1b11economy.html


Sorry but that doesn't compare to Seattle.

Anonymous said...

plymaster - i am sure i do not understand your point. are you arguing that other markets are so unique that you cannot compare them to seattle? or are you arguing that you should compare them?

Ardell DellaLoggia said...

Hork,

Thanks for the chuckle. I started this business in the worst market in history...I think I can take it.

I'd like to see the market slow down to the point where no buyer is losing a house in a multiple bid war...not happening yet. Still happening every day.

I'd like to see the market slow down to the point where a buyer gets to see at least five really good properties in their price range on market, and actually pick one out of five or at least three GOOD ones. Not seeing that yet.

As far as I'm concerned, the market isn't slow enough for buyers to get a decent house at a decent value yet.

Real life...real stories...reality. Lots of stuff no one wants on market. Lots of stuff overpriced on market. Nothing selling for less than the last comparable house. Buyers still getting beat out by other offers.

In case anyone wants to hear the truth. Just Fall around here so far. I'll be the first to tell you when the market gets flat or starts turning down. Ain't happening here. Here, for the most part, being Bellevue, Redmond, Kirkland. I live in Kirland, sell more in Bellevue and Seattle at the moment.

I have several buyers and there's nothing out there to sell them that I can confidently recommend. As soon as I find one, there is more than one offer. One in Bellevue got an offer of $125,000 OVER the asking price which was high...without an escalator clause! I was astounded. That guy really should have had his own agent. He was just throwing money away at that point. It was $75,000 over the next highest offer, best I can tell, for no good reason.

Until we don't see any more cases like the one above, I'm not buying it. Tell some of the buyers trying to find a decent place that it is a buyer's market. Cause I know it ain't so where I'm working in Seattle and on the Eastside.

That's the truth guys as I see it from my vantage point.

Anonymous said...

No global bubble.......

Naaa. Everything is rosey

Oh oh

The Times November 16, 2006


Banks told to predict effects of a 40% crash in house prices
By Patrick Hosking, Banking and Finance Editor



BANKS in the UK have been ordered by financial regulators to assess how they would cope in the event of house prices crashing by 40 per cent.
The instruction to include a housing slump scenario in their stress-testing models comes after the Financial Services Authority found that some banks were failing to include gloomy enough assumptions in their modelling.



Click here: Banks told to predict effects of a 40% crash in house prices - Industry sectors - Times Online

http://business.timesonline.co.uk/article/0,,9063-2455507,00.html

trackbike said...

Ardell - It is definitely good to read the perspective of someone like yourself who is actually out there helping people buy and sell homes, and who has been an agent in this area for a long enough time to really understand it.

plymster said...

downatown

Let me paraphrase my previous statement: You cannot compare San Francisco and Orange County to Seattle, and what's more, San Francisco is flat, and Orange County is down (contrary to your assertion).

Boston is more comparable to Seattle (for geographic, economic, and demographic reasons), and it is also down. For that matter, the same goes for San Diego.

SeattleMoose said...

Expect rents to go down as more unbought condos and SFHs held by building companies and "infestors" are dumped onto the rental market.....already happening in LA and OC. For Rent signs springing up like mushrooms.

Expect downtown condo prices to get hit HARD.

trackbike said...

The median for Oct. in Orange
County was $625K, up 3.1% from a year ago. San Diego is down 5.5% from last October.

Ardell DellaLoggia said...

Pegasus,

I don't do global. I am watching a property in Manhattan Beach CA at 714 Manhattan Beach Blvd. The person who bought it in April of this year (from the guy I sold it to) is likely going to take a loss after costs.

Zillow it. It is a good property to track to see how far the market has moved there since April. You have to go an extra step to see the full detail. I was the one who bought it for $545,000 in 2000 and sold it for $679,000 in 2001. The guy I sold it to sold it in April of this year for, I think, $1,335,000 and I think the new owner has it on market for $1,399,000. After cost of sale, that would be loss from his purchse price IF he got full price.

If anyone knows others around the Country we can watch, that would be real evidence of price change.

Ardell DellaLoggia said...

trackbike,

Disclosure. I have been in the business a long time, but not all here. I'm from the East Coast, Philly. 16 years in Real Estate 8 East Cost and 8 West Coast.

synthetik said...

Tim,

Ardell is making wild claims that I am sending her threatening e-mails! Obviously this is false.

I'd say something there but since she sees fit to delete my posts I have no other choice but to post this here.

Dustin said...

Synthetik,

I know that Tim is aware of the threatening emails that you've sent to Ardell because I've forwarded them to him in the past.

After what you wrote to Ardell, I'm actually surprised that he lets you continue as a contributor on this blog.

trackbike said...

Synthetik - It seems like your ego has really become wrapped up in this bubble thing, and anything that challenges it fills you with hate. M
Maybe it's time to step back, get out and not think about real estate for a while. Get out into nature, clear your head.

The Tim said...

Okay, I'm going to comment on this, and then I'm quite tired of hearing about it, so I hope you all respect my wish of taking the argument somewhere else.

The email in question sent by Syntheik said "I'll be watching your blog," which I will point out is quite different from "I'll be watching you." The latter is clearly a threat. The former, not so much.

Obviously both Ardell and Synthetik are excitable people, whose online personalities and sensibilities are completely incompatible. Fine, whatever. I've been telling both of you to ignore the other for over a month now, and yet neither of you seems to care to follow that advice.

I think there's some serious over-reacting going on on both sides, and frankly, I'm tired of reading it here. If you really can't resist continuing the argument, at least take it somewhere else, like here.

Anonymous said...

Tim - I think this a good way to handle arguements. Its like cage fighting - blog style. Perhaps there's some money in this business :)