Comments on: How I Lost $40,000 Yesterday http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 14:52:35 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: lazymanandmoney http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/comment-page-1/#comment-239 lazymanandmoney Thu, 09 Nov 2006 02:48:20 +0000 http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/#comment-239 Well I should mention that her starting price was 285K, which was close to what I paid for mine two years ago. The Zillow value was 290K when I checked last month. So we are talking a fairly big change in terms of percentage. If that were to be the "fair value" it would take me 4 more years at 5% yearly appreciation to break even on the place I purchased two years ago. That would be 6 years of no appreciation, which seems historically pretty odd. Well I should mention that her starting price was 285K, which was close to what I paid for mine two years ago. The Zillow value was 290K when I checked last month. So we are talking a fairly big change in terms of percentage. If that were to be the “fair value” it would take me 4 more years at 5% yearly appreciation to break even on the place I purchased two years ago. That would be 6 years of no appreciation, which seems historically pretty odd.

]]> By: David B. http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/comment-page-1/#comment-238 David B. Thu, 09 Nov 2006 01:39:43 +0000 http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/#comment-238 The thing with real estate is that it fluctuates so much. One month it's up $40,000 and the next it's down $40,000. That is rough to hear that your neighbor sold for less than what you bought at, but no big deal if you're in long term. The thing with real estate is that it fluctuates so much. One month it’s up $40,000 and the next it’s down $40,000. That is rough to hear that your neighbor sold for less than what you bought at, but no big deal if you’re in long term.

]]> By: Tim http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/comment-page-1/#comment-234 Tim Wed, 08 Nov 2006 16:45:41 +0000 http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/#comment-234 Interesting situation. Good luck with your property value. I'm sure by the time you end up selling (if at all) that you'll be fine. The title of the article was great...I just had to come read it! Interesting situation. Good luck with your property value. I’m sure by the time you end up selling (if at all) that you’ll be fine. The title of the article was great…I just had to come read it!

]]> By: lazymanandmoney http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/comment-page-1/#comment-233 lazymanandmoney Wed, 08 Nov 2006 16:15:18 +0000 http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/#comment-233 It would have been somewhat difficult in practice. It was my direct neighbor who I knew well, a little old lady no less. I'm not sure I could have bid a price that was about $50,000 below her original asking price. She did lower her asking price and at some point I might have jumped on it, but I'm not sure I would have been able to play as much hard ball with someone that I said hello to for 2 years. That said, if there were no emotions in it, I probably would have bought it and rented it out it perhaps indefinitely, but at least 4 years (or until prices rebound). I'm not ready to call it a bottom in parts of the Greater Boston area, but this is one place that I think was undervalued. It would have been somewhat difficult in practice. It was my direct neighbor who I knew well, a little old lady no less. I’m not sure I could have bid a price that was about $50,000 below her original asking price. She did lower her asking price and at some point I might have jumped on it, but I’m not sure I would have been able to play as much hard ball with someone that I said hello to for 2 years.

That said, if there were no emotions in it, I probably would have bought it and rented it out it perhaps indefinitely, but at least 4 years (or until prices rebound). I’m not ready to call it a bottom in parts of the Greater Boston area, but this is one place that I think was undervalued.

]]> By: John Wilks http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/comment-page-1/#comment-232 John Wilks Wed, 08 Nov 2006 14:14:36 +0000 http://www.lazymanandmoney.com/how-i-lost-40000-yesterday/#comment-232 Great update. If you had the assets, would you buy the condo and then sell it for a gain? Great update. If you had the assets, would you buy the condo and then sell it for a gain?

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