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Addiction LXXVIII

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Road Cycling “It is by riding a bicycle that you learn the contours of a country best, since you have to sweat up the hills and coast down them. Thus you remember them as they actually are, while in a motor car only a high hill impresses you, and you have no such accurate remembrance of country you have driven through as you gain by riding a bicycle.” -- Ernest Hemingway

Addiction LXXVIII

Old 06-29-20, 07:53 AM
  #11276  
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Originally Posted by rjones28 View Post
Sounds exciting. What did Lotus think?
She was remarkably calm.
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Old 06-29-20, 07:55 AM
  #11277  
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Originally Posted by WhyFi View Post
Yeah, that's understandable and probably smart. Sounds like they weren't too confident in their value and decided to go with those that were more willing to speculate.
Hot markets are stupid. And it makes both buying and selling stressful.
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Old 06-29-20, 08:03 AM
  #11278  
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Originally Posted by Bah Humbug View Post
Hot markets are stupid. And it makes both buying and selling stressful.
what really burns us is that we got horrible advice from our realtor regarding value of a house we absolutely loved back last September. She was overly conservative and protective and in hindsight didn’t understand the market in our specific area so we missed out. That house would easily go for 30-40 more than what it sold for last year right now.

It’s really been a litany of errors on the part of our realtor that got us here, which is why we fired her and went in another direction. We could have taken the risk on this place, but our offer was already 15 over what I thought the house was worth and I wasn’t willing to buy a house that wouldn’t appraise for the purchase price. That’s just silly.
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Old 06-29-20, 08:04 AM
  #11279  
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“Hey buddy, I don’t go bothering you while you’re eating breakfast!”

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Old 06-29-20, 08:07 AM
  #11280  
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Originally Posted by phrantic09 View Post
what really burns us is that we got horrible advice from our realtor regarding value of a house we absolutely loved back last September. She was overly conservative and protective and in hindsight didn’t understand the market in our specific area so we missed out. That house would easily go for 30-40 more than what it sold for last year right now.

It’s really been a litany of errors on the part of our realtor that got us here, which is why we fired her and went in another direction. We could have taken the risk on this place, but our offer was already 15 over what I thought the house was worth and I wasn’t willing to buy a house that wouldn’t appraise for the purchase price. That’s just silly.
Saratoga! Who knew? Why are things so hot there?
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Old 06-29-20, 08:13 AM
  #11281  
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Originally Posted by MoAlpha View Post
Saratoga! Who knew? Why are things so hot there?
I’d go if I could bring the local climate...
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Old 06-29-20, 08:27 AM
  #11282  
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I don't understand why the real estate market would be hot anywhere when it feels like we are on a major economic downturn that likely will last a couple years.

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Old 06-29-20, 08:28 AM
  #11283  
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Originally Posted by MoAlpha View Post
Saratoga! Who knew? Why are things so hot there?
No inventory. Rates are good, the economy is good locally, but nothing is on the market.

We’re south of Saratoga in Malta. Globalfoundries (AMD spin off) just bought another 70 acres of land here to expand their fab so I expect this is just the beginning if they’re bringing another 3k employees in.
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Old 06-29-20, 08:30 AM
  #11284  
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Originally Posted by phrantic09 View Post
No inventory. Rates are good, the economy is good locally, but nothing is on the market.

We’re south of Saratoga in Malta. Globalfoundries (AMD spin off) just bought another 70 acres of land here to expand their fab so I expect this is just the beginning if they’re bringing another 3k employees in.
Wow. I am used to thinking of that part of the world as being chronically depressed since the Nelson Rockefeller era. Nice area, so I'm glad the economy is strong. Sorry about the housing issue, though.
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Old 06-29-20, 08:37 AM
  #11285  
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Originally Posted by datlas View Post
I don't understand why the real estate market would be hot anywhere when it feels like we are on a major economic downturn that likely will last a couple years.

Yeah. Equities seem a little high too, but I'm not questioning.
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Old 06-29-20, 08:41 AM
  #11286  
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Originally Posted by MoAlpha View Post
Wow. I am used to thinking of that part of the world as being chronically depressed since the Nelson Rockefeller era. Nice area, so I'm glad the economy is strong. Sorry about the housing issue, though.
Thanks, it’ll work out (eventually).

some of it is on us too, we’re super picky, have limited ourselves essentially to one or two neighborhoods in Malta and don’t want anything much bigger than 2000SF, nor do we want new construction because they’re all houses in the middle of a field with no trees or shade. The hood we are in now(and want to stay in) is cut into an old growth timber forest, there’s 100-200 feet of trees and nature trail between the backs of houses and just generally more appealing to us.
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Old 06-29-20, 08:54 AM
  #11287  
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Originally Posted by MoAlpha View Post
Yeah. Equities seem a little high too, but I'm not questioning.
Agree. I am not a market timer (which is a fool's errand IMO), I have most of my investments on auto-pilot so will ride it all out. I am kinda expecting a decent drop in the market sometime this year, however.

If I were really smart we would sell our house and move into a rental, but moving is too much of a PITA so will sit tight on modest real estate holdings too.
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Old 06-29-20, 09:36 AM
  #11288  
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Originally Posted by datlas View Post
Agree. I am not a market timer (which is a fool's errand IMO), I have most of my investments on auto-pilot so will ride it all out. I am kinda expecting a decent drop in the market sometime this year, however.

If I were really smart we would sell our house and move into a rental, but moving is too much of a PITA so will sit tight on modest real estate holdings too.
Smart man on all accounts.

The reason housing and equities haven’t tanked (yet?) is the hugely disparate nature of this. People like AG and me can still just buy a house; those hurt worst were mostly renters. They also weren’t buying equities. And with all real estate being local, places like Austin are still in high demand, and Saratoga was always one of the swanky places to have a place upstate (and now lets you escape the plague for a while). I’d wager that Schenectady is much worse. Or Abilene.
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Old 06-29-20, 09:38 AM
  #11289  
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Originally Posted by phrantic09 View Post
Thanks, it’ll work out (eventually).

some of it is on us too, we’re super picky, have limited ourselves essentially to one or two neighborhoods in Malta and don’t want anything much bigger than 2000SF, nor do we want new construction because they’re all houses in the middle of a field with no trees or shade. The hood we are in now(and want to stay in) is cut into an old growth timber forest, there’s 100-200 feet of trees and nature trail between the backs of houses and just generally more appealing to us.
No trees can be fixed if you're willing to wait for them to grow, but I know exactly what you mean.
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Old 06-29-20, 09:46 AM
  #11290  
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Originally Posted by datlas View Post
Agree. I am not a market timer (which is a fool's errand IMO), I have most of my investments on auto-pilot so will ride it all out. I am kinda expecting a decent drop in the market sometime this year, however.

If I were really smart we would sell our house and move into a rental, but moving is too much of a PITA so will sit tight on modest real estate holdings too.
We set up a charitable trust to offload highly appreciated stuff and we're moving very slowly to more bonds and fixed income in order to hit retirement in a slightly more conservative posture, but that's all we're doing.

With these rates, you might as well just refinance if you want investment cash.
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Old 06-29-20, 10:07 AM
  #11291  
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Originally Posted by MoAlpha View Post
We set up a charitable trust to offload highly appreciated stuff and we're moving very slowly to more bonds and fixed income in order to hit retirement in a slightly more conservative posture, but that's all we're doing.

With these rates, you might as well just refinance if you want investment cash.
Not a bad idea. All I did was move kids' college savings that was in a fund-based account over to short-term bond account about 1 year ago since we will need to access those funds in the next few years. Everything else is for farther down the road (I hope we are alive to use it!) so let it ride!
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Old 06-29-20, 10:13 AM
  #11292  
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Originally Posted by MoAlpha View Post
Saratoga! Who knew? Why are things so hot there?
Jack Flanders' home town, of course!
Look him up on YouTube
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Old 06-29-20, 10:14 AM
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Originally Posted by MoAlpha View Post
Yeah. Equities seem a little high too, but I'm not questioning.
Makes no sense. I got right out, no longer trusting the system.
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Old 06-29-20, 10:14 AM
  #11294  
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Originally Posted by datlas View Post
Not a bad idea. All I did was move kids' college savings that was in a fund-based account over to short-term bond account about 1 year ago since we will need to access those funds in the next few years. Everything else is for farther down the road (I hope we are alive to use it!) so let it ride!
We just gave control of daughter's 529(b) to her. I was able to transfer my post-911 GI Bill educational benefits to her, so we ended up with half of it left. What a windfall! Thank you taxpayers!
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Old 06-29-20, 10:15 AM
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Originally Posted by seedsbelize View Post
Makes no sense. I got right out, no longer trusting the system.
Might be a great decision.
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Old 06-29-20, 11:11 AM
  #11296  
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Originally Posted by MoAlpha View Post
No trees can be fixed if you're willing to wait for them to grow, but I know exactly what you mean.
This is only a 10-12 year house for us. Once the girls are in college, we’re out of here for someplace warmer.
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Old 06-29-20, 11:25 AM
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Originally Posted by WhyFi View Post
No time to take stuff off for a glamour shot -

I'm rather behind, but
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Old 06-29-20, 11:46 AM
  #11298  
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Originally Posted by phrantic09 View Post
This is only a 10-12 year house for us. Once the girls are in college, we’re out of here for someplace warmer.
Man, I haven’t lived at one address for a decade since I was in middle school. And that was about 10 years total.
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Old 06-29-20, 12:03 PM
  #11299  
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My 2016 cowboy photo is going to be Adventure Cycling Association's

newsletter photo of the week next week. I steered clear of those critters.
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Old 06-29-20, 12:11 PM
  #11300  
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No cows spotted on today's ride, but I did see a coyote, and he looked hungry! I didn't take his pic, just this standard pic of the bike leaning on a creosote.

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