Center City Real Estate Disclosure Help!!! - Page 3 - PhillyBlog

Luna_C · #21 (**permalink**) 02-16-2007, 12:08 AM

Quote:

Originally Posted by felix_phl

You were saying? From Today's Wall Street Journal:

Home Prices Decline in Majority of Cities

Can't happen in Philly, tho'

First of all, I never said it can't happen in Philly. Secondly, a small price drop after a record setting year is bound to happen. It doesn't neccessarily indicate were on the verge of the next Great Depression.

My main point was this: each transaction is different. There's a world of difference between a fairly priced house put on the market by a realistic seller and an investment property gone wrong put on the market by an inexperienced flipper who's slashing prices to unload the property fast.

Many buyers are approaching both types of sellers the same way, and it's a bad move.

BigH · #22 (**permalink**) 02-16-2007, 12:30 AM

I remember starting a thread on the housing bubble in philly in june 06. It quickly became one of the most heated and intense blogs on this site.

It's a very sensitive topic, especially if you are a homeowner or realtor. The condo market in philly is going to get hit hard on the high end(400k and above) side with all the buildings they are putting up to open in 2008. TOO MUCH SUPPLY!!!! The only thing I'm worried about (since I plan on buying a unit this spring in the mid-range low 300ks) is how it will effect the overall CC/Olde City market. Any thoughts?

BigH · #23 (**permalink**) 02-16-2007, 12:31 AM

I want to settle and move in for july. My lease ends june 30th. I started my search very early so that I can find the right place for the right price!!

Quote:

Originally Posted by trinity

What's your timeframe for buying/making settlement?

I don't think March/April listers (of which I may be one, depending on whether my private buyer can obtaining financing) are going to be ready to "make a deal" until June at the earliest. Would-be sellers are going in with the expectation at least a month on the market.

Sellers now, whose homes have been on the market for a few months already, may be less willing to rely on the promise of a hot spring market after months of few showings. I have seen a lot of stagnant homes move in the past couple of weeks. (At what price, I have no idea.)

If I were you, I would focus on getting a place at or a little below last the comparable, which you seem to be doing, regardless of whether it's now or April or July.

felix_phl · #24 (**permalink**) 02-16-2007, 02:20 PM

Quote:

Originally Posted by Luna_C

First of all, I never said it can't happen in Philly.

Fair enough. But many did say just that.

Quote:

Originally Posted by Luna_C

Secondly, a small price drop after a record setting year is bound to happen.

Not necessarily. If a market is under-valued, it ought to continue to go up. If a market is over-valued, it should go down. So the real question is whether one believes the market is over-valued or not (and if one has a rationale basis for that conclusion).

Tim K · #25 (**permalink**) 02-16-2007, 02:42 PM

Quote:

Originally Posted by BigH

I remember starting a thread on the housing bubble in philly in june 06. It quickly became one of the most heated and intense blogs on this site.

How'd you manage that when in the upper right hand corner of your posts it lists your date joining as August 2006??? Are you using a new identity??? Do you have multiple user ID's???? Come on...you can admit it.

Luna_C · #26 (**permalink**) 02-16-2007, 03:08 PM

Quote:

Originally Posted by Tim K

How'd you manage that when in the upper right hand corner of your posts it lists your date joining as August 2006??? Are you using a new identity??? Do you have multiple user ID's???? Come on...you can admit it.

Luna_C · #27 (**permalink**) 02-16-2007, 03:11 PM

Quote:

Originally Posted by felix_phl

Fair enough. But many did say just that.

Not necessarily. If a market is under-valued, it ought to continue to go up. If a market is over-valued, it should go down. So the real question is whether one believes the market is over-valued or not (and if one has a rationale basis for that conclusion).

Fine, fine, admittedly I was unclear -- but markets move in cycles and after years and years of growth, that growth will inevitably slow and you may see small decreases. Still doesn't neccessarily mean the end is nigh.

Marcus · #28 (**permalink**) 02-16-2007, 08:55 PM

Quote:

Originally Posted by BigH

I remember starting a thread on the housing bubble in philly in june 06. It quickly became one of the most heated and intense blogs on this site.

We all recognize you. You're the only person, under all of your identities, who is writing about a housing bubble in Philadelphia. We also recognize you by your spelling errors and sentence structure.

PLEASE learn the difference between "there" "their" and "they're"

Any thoughts?

felix_phl · #29 (**permalink**) 02-17-2007, 12:13 AM

Quote:

Originally Posted by Marcus

We all recognize you. You're the only person, under all of your identities, who is writing about a housing bubble in Philadelphia. We also recognize you by your spelling errors and sentence structure.

PLEASE learn the difference between "there" "their" and "they're"

Any thoughts?

Yeah, Mucus, here's a thought: You're full of it. I wrote about housing bubbles, and am not BigH. I also rarely have grammatical errors. Plus, I can think of at least two other posters (can't remember their -sorry, thay're - names) who posted similarly. As well as about a dozen economists. Common internet ploy - pretending all of those who have a different viewpoint are all one person. What's next? Will you accuse anyone who has a different viewpoint as "really posting from your mom's basement" or having small genitalia? Will you call them a poopiehead and try to discourage the other kids from playing with them at recess?

felix_phl · #30 (**permalink**) 02-17-2007, 12:20 AM

Quote:

Originally Posted by Luna_C

Fine, fine, admittedly I was unclear -- but markets move in cycles and after years and years of growth, that growth will inevitably slow and you may see small decreases. Still doesn't neccessarily mean the end is nigh.

OK. Why are you balling up your fist at me? http://www.phillyblog.com/philly/ima...ine=1171674380
I feel threatened. I just called Orca Winfrey and Dr. Phil and they said I should get a restraining order ...