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-   -   Addiction LXXVIII (https://www.bikeforums.net/showthread.php?t=1197210)

LAJ 06-29-20 07:53 AM


Originally Posted by rjones28 (Post 21559209)
Sounds exciting. What did Lotus think?

She was remarkably calm.

Bah Humbug 06-29-20 07:55 AM


Originally Posted by WhyFi (Post 21558866)
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.

phrantic09 06-29-20 08:03 AM


Originally Posted by Bah Humbug (Post 21559351)
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.

Bah Humbug 06-29-20 08:04 AM

“Hey buddy, I don’t go bothering you while you’re eating breakfast!”

https://cimg0.ibsrv.net/gimg/bikefor...300d0e274.jpeg

MoAlpha 06-29-20 08:07 AM


Originally Posted by phrantic09 (Post 21559370)
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?

Bah Humbug 06-29-20 08:13 AM


Originally Posted by MoAlpha (Post 21559377)
Saratoga! Who knew? Why are things so hot there?

I’d go if I could bring the local climate...

datlas 06-29-20 08:27 AM

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.

:foo:

phrantic09 06-29-20 08:28 AM


Originally Posted by MoAlpha (Post 21559377)
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.

MoAlpha 06-29-20 08:30 AM


Originally Posted by phrantic09 (Post 21559412)
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.

MoAlpha 06-29-20 08:37 AM


Originally Posted by datlas (Post 21559408)
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.

:foo:

Yeah. Equities seem a little high too, but I'm not questioning. :innocent:

phrantic09 06-29-20 08:41 AM


Originally Posted by MoAlpha (Post 21559417)
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.

datlas 06-29-20 08:54 AM


Originally Posted by MoAlpha (Post 21559431)
Yeah. Equities seem a little high too, but I'm not questioning. :innocent:

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.

Bah Humbug 06-29-20 09:36 AM


Originally Posted by datlas (Post 21559460)
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.

MoAlpha 06-29-20 09:38 AM


Originally Posted by phrantic09 (Post 21559438)
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.

MoAlpha 06-29-20 09:46 AM


Originally Posted by datlas (Post 21559460)
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.

datlas 06-29-20 10:07 AM


Originally Posted by MoAlpha (Post 21559554)
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!

seedsbelize 06-29-20 10:13 AM


Originally Posted by MoAlpha (Post 21559377)
Saratoga! Who knew? Why are things so hot there?

Jack Flanders' home town, of course!
Look him up on YouTube

seedsbelize 06-29-20 10:14 AM


Originally Posted by MoAlpha (Post 21559431)
Yeah. Equities seem a little high too, but I'm not questioning. :innocent:

Makes no sense. I got right out, no longer trusting the system.

MoAlpha 06-29-20 10:14 AM


Originally Posted by datlas (Post 21559599)
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!

MoAlpha 06-29-20 10:15 AM


Originally Posted by seedsbelize (Post 21559615)
Makes no sense. I got right out, no longer trusting the system.

Might be a great decision.

phrantic09 06-29-20 11:11 AM


Originally Posted by MoAlpha (Post 21559536)
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.

SwtBadger 06-29-20 11:25 AM


Originally Posted by WhyFi (Post 21555182)
No time to take stuff off for a glamour shot -

https://cimg0.ibsrv.net/gimg/bikefor...3363672690.jpg

I'm rather behind, but :thumb:

Bah Humbug 06-29-20 11:46 AM


Originally Posted by phrantic09 (Post 21559763)
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.

indyfabz 06-29-20 12:03 PM

My 2016 cowboy photo is going to be Adventure Cycling Association's
https://cimg8.ibsrv.net/gimg/bikefor...994a29df9.jpeg
newsletter photo of the week next week. I steered clear of those critters.

LesterOfPuppets 06-29-20 12:11 PM

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.

https://cimg0.ibsrv.net/gimg/bikefor...01abc97140.jpg


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