tag:blogger.com,1999:blog-7514357.post3411438932759412917..comments2024-02-25T08:16:25.546-08:00Comments on Exurban Nation: Laugh of the DayRob Dawghttp://www.blogger.com/profile/10042154106850545479noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-7514357.post-16734390411403076602007-10-19T10:14:00.000-07:002007-10-19T10:14:00.000-07:00Legion, You have no idea how tacky some of his lif...Legion, <BR/>You have no idea how tacky some of his lifestyle choices end up. While discussing his trophy wife with fellow neigbors I almost gave one a heart attack. He observed that she couldn't more than 28-29 years old to which I replied "well some parts maybe..." <BR/><BR/>Tacky is some of the other houses he has mauled in the area. Tacky is the C55 with black chrome and polished disc wheels. I'll have to do a special pictures post on his idea of home improvement. <BR/><BR/>Prop Flop,<BR/>Worse it was a classic Esprit in the original yellow with black interior. Sniff.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-59207242448079243812007-10-19T09:50:00.000-07:002007-10-19T09:50:00.000-07:00She took a hatchet to his Lamorgini, Ferrari and L...She took a hatchet to his Lamorgini, Ferrari and Lotus in a domestic "discussion." <BR/><BR/>NOOO.... the Ferrari and Lamborghini I could see, they're generally overcompensatiion for something, but a Lotus?<BR/><BR/>Those are art. They handle like a dream, they run nice, love everything about them... can't condone hitting that with a hatchet.<BR/><BR/>BTW: Loved the "acquired distaste" comment.Property Flopperhttps://www.blogger.com/profile/12458926920487707223noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-71415617699993375692007-10-19T09:24:00.000-07:002007-10-19T09:24:00.000-07:00@RobThis is one of his products: http://www.revolu...@Rob<BR/><BR/>This is one of his products: http://www.revolution808.net/Wheels/Blingz/images/Moneyfull.jpg<BR/>Anyway, he's already sold it once for $2m only to be forced to buy it back for $2.1m plus legal fees for all the ummm... noncompliances<BR/><BR/>Noncompliances? Man between the IRS and his ex wife..this guy has gotta be bleeding money big time. Oh and those wheels with dollar signs...can you get anymore tacky? <BR/>Personally I'm glad to hear that you are probably doing well with your home, 500 dollars a sf? Man just add a square foot tile leading to the back yard and instant 500 dollars in equity!!!!!!Legionhttps://www.blogger.com/profile/02121259763080959793noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-77529560174909219372007-10-19T04:21:00.000-07:002007-10-19T04:21:00.000-07:00Akubi,Yes, he is exactly what you'd expect as the ...Akubi,<BR/>Yes, he is exactly what you'd expect as the stereotype of someone who tears down 3000sf houses to put up McMansions and sells Hummer wheels in limited editions with $ signs in the spokes. You'd like his ex-wife however. She took a hatchet to his Lamorgini, Ferrari and Lotus in a domestic "discussion." <BR/><BR/>You want the plasma? The Blingz? Then strap on some fishnet baby and work the room! Sorry, just messin' wit ya.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-4945833249188378892007-10-18T22:11:00.000-07:002007-10-18T22:11:00.000-07:00Man, I need those money blingz with Plasma!Man, I need those money blingz with Plasma!Akubihttps://www.blogger.com/profile/05214321836465499032noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-11889759779854681262007-10-18T21:24:00.000-07:002007-10-18T21:24:00.000-07:00Legion.This is one of his products: http://www.rev...Legion.<BR/>This is one of his products: http://www.revolution808.net/Wheels/Blingz/images/Moneyfull.jpg<BR/>Anyway, he's already sold it once for $2m only to be forced to buy it back for $2.1m plus legal fees for all the ummm... noncompliances. It was briefly MLS for $2.9m not too far from the zestimate. Nevermind the price. The taxes are $2000/mo. Be patient, he'll be down another million before long. <BR/><BR/>And yes, before you blow a gasket; cribs in my 'hood go for $500/sf. That's why I needed two plasma TVs. Your typical 32" tube model goes for $400 but takes up 4-5 square feet. So the 42" and 50" plasmas taking up only 3 sq feet and costing only $3100 means I've gained 6 square feet of useable floor area thus saving money!Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-28906572545193487002007-10-18T20:48:00.000-07:002007-10-18T20:48:00.000-07:00Wait a sec Rob, you mean to tell me this fungooo w...Wait a sec Rob, you mean to tell me this fungooo was trying to sell his house for more than 2.5 million? So a drop of less than 20% is about average for Cali isn't it? Now if it was priced at 800k, then yeah a 50% haircut would be something to be upset about...<BR/><BR/>Hey, be a good neighbor and tell him to call newsweek so he can whine about how he blew his inheritance on repairs and now won't be making his retirement fund in one year..Legionhttps://www.blogger.com/profile/02121259763080959793noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-38449880672496892522007-10-18T18:27:00.000-07:002007-10-18T18:27:00.000-07:00Just because Housing Starts plunged last month and...<I>Just because Housing Starts plunged last month and the chart looks like The Beast, it doesn't mean that the U.S. Housing Market is any worse off than it was.</I><BR/><BR/>Monty Python: "It's only a flesh wound..."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-81031532244463930842007-10-18T16:58:00.000-07:002007-10-18T16:58:00.000-07:00nothing i've read suggests the storm has even hit ...nothing i've read suggests the storm has even hit yet. oh yeah whooptie some pricing problems in the market, a big bailout. Ben's saying "I want to know what these damn things are worth". When did Greenspan swear? Things must be serious. Countrywide cracked down on lending standards in JULY OF THIS YEAR. Most resets don't start until NEXT YEAR. Properties purchased THIS YEAR are foreclosing at a HIGHER rate than those purchased LAST YEAR.<BR/><BR/>Then again papers print contrarian bullshit because it's contrarian. Some asshole argued in WSJ last week that there is no nursing shortgage. Contrarianism is newsworthy. Whatever.JohnDiddlerhttps://www.blogger.com/profile/05790137091661859754noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-67729217847428265862007-10-18T16:14:00.000-07:002007-10-18T16:14:00.000-07:00Yes, Legion, the POS was overpriced and is still o...Yes, Legion, the POS was overpriced and is still overpriced at $2.5m. I'd venture a purchase price of $1.4m and $200k in remediation and finish work.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-54347633450569107762007-10-18T16:12:00.000-07:002007-10-18T16:12:00.000-07:00S'course the guy next door probably just suffers f...S'course the guy next door probably just suffers from crappy neighbor syndrome. ;-)Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-1847040592610372502007-10-18T16:11:00.000-07:002007-10-18T16:11:00.000-07:00This is about the time David from Zillow might chi...This is about the time David from Zillow might chime in. He's been known to haunt these pages . Anyway I've been doing some casual reverse engineering of the zillow valuation model and it appears very close to minor thesis model from collge that developed a risk assesment matrix. Think 4 axes equally 3spaced like a face centered tetrahedron. What they do is establish numbers along each axis and also define a sphere with a diameter and centerpoint. What you have is a bubble out in space that overlaps a whole bunch of other bubbles. Some a little, some a lot some not at all. When they get in data on any one bubble; recent sale; new tax base, physical changes they use that to tweak similar spheres. Pretty clever stuff but then I thought so too when I did it in 1982. So what does all that mathnerd babble mean? The house next door is pooled or crosslinked with otherplaces that zillow "thinks" are comparable on some level. 5000sf stucco-mansions aren't getting $3m anymore based on a couple recent sales so they updated on of my neighbors' axis numbers. Most likely I'm guessing here the comparable $/sf fell to $500 from $600 previously. Even if was a smaller drop what then happens in the model is that the new sphere in zillowow's model sapce might look more like a different set of related houses and that remodels it's price just that much more. See? Sigh, probably not. It's hard to use words to explain 5 dimensional dynamic models with anisotropy.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-23924225013135840562007-10-18T16:10:00.000-07:002007-10-18T16:10:00.000-07:00@Akubi"Any idea what caused Zillow to calculate a ...@Akubi<BR/>"Any idea what caused Zillow to calculate a 30 day loss of $417,675 on your neighbor's place?"<BR/><BR/><BR/>Ummm...reality? Maybe the POS was overpriced to begin with?Legionhttps://www.blogger.com/profile/02121259763080959793noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-15430210824756676992007-10-18T15:16:00.000-07:002007-10-18T15:16:00.000-07:00@Dawg,Oh, so you took my 32K!Any idea what caused ...@Dawg,<BR/>Oh, so you took my 32K!<BR/>Any idea what caused Zillow to calculate a 30 day loss of $417,675 on your neighbor's place?Akubihttps://www.blogger.com/profile/05214321836465499032noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-77382813334321981082007-10-18T15:01:00.000-07:002007-10-18T15:01:00.000-07:00$10 a minute. That's priceless. Pretty soon ther...$10 a minute. That's priceless. Pretty soon there will be a ticker running on Zillow, just like the stock exchange.Sac RE Agenthttps://www.blogger.com/profile/11650317369024382351noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-54435549965033928052007-10-18T14:34:00.000-07:002007-10-18T14:34:00.000-07:00Akubi,I know where it went. Zilow says my primary...Akubi,<BR/>I know where it went. Zilow says my primary residence went up $32,225 in the last 30 days. But get this; my immediate next door neighbor, his 30 day change is -$417,675. For you math nerds that's almost $10 per minute.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-46974324863196412612007-10-18T14:13:00.000-07:002007-10-18T14:13:00.000-07:00Interesting image juxtaposition.That Newsweek arti...Interesting image juxtaposition.<BR/><BR/>That Newsweek article inspired me to check the latest Zestimate on my place. In 30 days it dropped 32K. Woohoo! Win-Win!<BR/>Since it is still significantly more than I paid for it in 2000 and cheaper than rent I'm not all that concerned.Akubihttps://www.blogger.com/profile/05214321836465499032noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-87179965905832590952007-10-18T13:44:00.000-07:002007-10-18T13:44:00.000-07:00Classic beginners mistakes. Funny thing being tha...Classic beginners mistakes. Funny thing being that if it was supposed to be an investment he should have leveraged as much as possible instead he killed his own chances of any return and exposed himself unnecessarily. <BR/><BR/>When we start bouncing along the bottom You can bet I'll only spend out-of-pocket the least the bank will accept and still find ways to cut that too.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-8194649157326965612007-10-18T13:39:00.000-07:002007-10-18T13:39:00.000-07:00Legion, that's another investor gone amuck. Sad t...Legion, that's another investor gone amuck. Sad that the msm will print articles about such stuff without asking the person some good, old fashion questions, like, what made you believe that real estate should constantly appreciate in double digits? Unfuckingbelievable! <BR/><BR/>And it looks like he way overbuilt for the neighborhood.Sac RE Agenthttps://www.blogger.com/profile/11650317369024382351noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-33214226645060585972007-10-18T12:59:00.000-07:002007-10-18T12:59:00.000-07:00Sweeeeeet....he must be throwing up over all the t...Sweeeeeet....he must be throwing up over all the tax and insurance he pays for his "oversized" house.<BR/><BR/>Karma I tell ya !Sweet Cashbackhttps://www.blogger.com/profile/05579537188156947860noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-77902130257474102622007-10-18T12:12:00.000-07:002007-10-18T12:12:00.000-07:00The douchebag was his own greedy general contracto...The douchebag was his own greedy general contractor. Too much house, too illiquid, concentrated exposure, and he was relying upon double digit returns! GMAFB. This is why these people need to crash and burn. They won't learn otherwise and will cause more harm next time if we don't stop them.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-81774435021786220462007-10-18T11:40:00.000-07:002007-10-18T11:40:00.000-07:00Here's a link to some douchebag that lives in a 75...Here's a link to some douchebag that lives in a 750K house, can afford the mortgage, and is crying because it's not appreciating like he thought it would..<BR/><BR/>http://www.newsweek.com/id/52608?GT1=10450<BR/><BR/>Ok, did anyone catch the fact that this turd is a contractor? anyone? Yeah buddy, let's see how much longer you can 'afford' to pay for your dream home. He better sell now before he is kicked out of his own home.Legionhttps://www.blogger.com/profile/02121259763080959793noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-1214803801864152152007-10-18T11:33:00.000-07:002007-10-18T11:33:00.000-07:00ummm...by the way...that looks like a movie I'd li...ummm...by the way...that looks like a movie I'd like to watch:-)Legionhttps://www.blogger.com/profile/02121259763080959793noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-1821498140222774582007-10-18T11:32:00.000-07:002007-10-18T11:32:00.000-07:00Careful. EN is best described as an aquired dista...Careful. EN is best described as an aquired distaste. We screw around and meander in between the salient stuff. Thanks anyway.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-46806561564397298622007-10-18T11:00:00.000-07:002007-10-18T11:00:00.000-07:00Thanks, Rob Dawg. Good points -- all of them.My o...Thanks, Rob Dawg. Good points -- all of them.<BR/><BR/>My original post on the topic was more to highlight that the papers' version of the truth is often different from the ACTUAL version of the truth. A lot of the key issues you raise supports this POV as well.<BR/><BR/>I am adding you to my reader. Good stuff you got here.Bring the Bloghttps://www.blogger.com/profile/13235198223924709990noreply@blogger.com