[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

[RT] Real Estate///Understanding the Staus Factor



PureBytes Links

Trading Reference Links

Hey Cludio,

For what it is worth, my take is many Americans buy for staus as much as
any other reason. I think that is especially true in many of the
overinflated CA areas...and other high profile locations.

I say this because I have been to all of the places you mention and
identified my motives at a time when I was "moving on up" and made a
purchase that suited my ambitions at the time. As long as there is demand
and the location retains the status aura, things go well.

I have purposely left out all other factors previously discussed.

Sincerely,

John

> Mr. Ira, Bondo and all the others
>
> I just would like somebody to help me understand this real estate
> frenzy in California.
>
> I am not American, I am Italian and have been living in the UK for
> years. Last year I have been to L.A. and San Francisco. I do not get
> it, PLEASE take no offence but I was not impressed. In Hollywood
> celebs get away with it, but, on the other hand, I found Venice an
> uncomfortable place, although Santa Monica was better, for example.  San
> Francisco was allright, but nothing really spectacular unless  you have
> never moved from your 2,000 souls' rural village. In Milan  and London -
> two places I am highly accustomed with - middle class  have been moving
> away from the town in recent years, driven by high  prices and poor
> quality of life.
>
> So, please do not answer me with the supply and demand thing, I
> would like to know in your opinion what drives demand there (hence
> supply).
>
> Thanks for all your help
>
> Claudio
>
> BTW = Anybody following currencies?
>
>
>
> --- In realtraders@xxxxxxxxxxxxxxx, "mr.ira" <mr.ira@xxxx> wrote:
>> Just saw some new homes in Northern California,  3000 sq.ft.  Lot
> size, 10,000-14,000 sq.ft.  No landscaping, and rock hard clay
> soil.  Located in a intermediate quality neighborhood.  Starting
> price,  with no upgrades, $945,000 and 6 sold the first day.  What  do
> they say? "Location, location, location".
>>
>> It just doesn't figure, but it is happening.
>>
>>
>>
>> From: bondo92677
>>   To: realtraders@xxxxxxxxxxxxxxx
>>   Sent: Monday, September 13, 2004 8:00 AM
>>   Subject: Re: [RT] Real Estate
>>
>>
>>   That's interesting.  Southern California real estate has been
> marked
>>   down 10-15% over the past 3 months  and homes still aren't
> moving.
>>   But that's not saying much since values have doubled over the
> past 3
>>   years.
>>
>>
>>
>>   --- In realtraders@xxxxxxxxxxxxxxx, BobsKC <bobskc@xxxx> wrote:
>>   > Of course, there's is nothing quite like three major
> hurricanes in
>>   a month
>>   > to bring property values down fast.  My home on Sanibel
> Island, Fl
>>   > escalated from $290K in '98 to $550K in '03 but it's hard to
> say
>>   what it
>>   > may be worth right now.  Also, purchasing at historical low
>>   interest rates
>>   > runs the risk that with rising rates, real estate values will
>>   fall.  Sort
>>   > of like being in a stock you can't sell because trading is
>>   halted ... :)
>>   >
>>   > Bob
>>   >
>>   >
>>   > At 02:39 PM 9/11/2004 -0400, you wrote:
>>   > >Well I am finally seeing it happen in real time...in the
>>   community I live.
>>   > >
>>   > >I am active in Homeowner's Association in my Myrtle Beach, SC
>>   community.
>>   > >We are Lakeside and just 5 minutes from the Beach with the
> new
>>   roads.
>>   > >
>>   > >I saw a list of the homes owned by people from CA and WA and
> it is
>>   > >growing. Apparently there is a network of over 2000 people
>>   dealing with
>>   > >select realtors who find fast growing and escalating value
> areas
>>   in new
>>   > >communities here and elsewhere.
>>   > >
>>   > >The out of staters are buying homes here and renting them for
>>   $1050 per
>>   > >month which covers mortgage and practically all expenses with
>>   some left
>>   > >over for repair. In speaking to one from WA, he can not
> afford to
>>   retire
>>   > >where he lives plus he believes the escalation in value here
> will
>>   give him
>>   > >a better profit than the stock market. Apparently, his
> particular
>>   effort
>>   > >was started by a group of stock investment club women who are
>>   also doing
>>   > >this.
>>   > >
>>   > >It is having a negative affect on our Family community since
> many
>>   renters
>>   > >are college students...away from supervision...FWIW. But that
> is
>>   being
>>   > >gradually dealt with.
>>   > >
>>   > >I am thinking about doing a few properties myself. There is
> no
>>   let up in
>>   > >demand here.
>>   > >
>>   > >Just FYI.
>>   > >
>>   > >Sincerely,
>>   > >
>>   > >John
>>   > >
>>   > >
>>   > >
>>   > >
>>   > >
>>   > >
>>   > >Yahoo! Groups Links
>>   > >
>>   > >
>>   > >
>>   > >
>>
>>
>>         Yahoo! Groups Sponsor
>>               ADVERTISEMENT
>>
>>
>>
>>
>>
>> -------------------------------------------------------------------
> -----------
>>   Yahoo! Groups Links
>>
>>     a.. To visit your group on the web, go to:
>>     http://groups.yahoo.com/group/realtraders/
>>
>>     b.. To unsubscribe from this group, send an email to:
>>     realtraders-unsubscribe@xxxxxxxxxxxxxxx
>>
>>     c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms
> of Service.
>
>
>
>
>
> Yahoo! Groups Links
>
>
>
>





------------------------ Yahoo! Groups Sponsor --------------------~--> 
$9.95 domain names from Yahoo!. Register anything.
http://us.click.yahoo.com/J8kdrA/y20IAA/yQLSAA/zMEolB/TM
--------------------------------------------------------------------~-> 

 
Yahoo! Groups Links

<*> To visit your group on the web, go to:
    http://groups.yahoo.com/group/realtraders/

<*> To unsubscribe from this group, send an email to:
    realtraders-unsubscribe@xxxxxxxxxxxxxxx

<*> Your use of Yahoo! Groups is subject to:
    http://docs.yahoo.com/info/terms/