Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Monday, February 04, 2008
Invest in San Bernardino
Sold 09/15/2006: $632,500
Jan 2007 est: $682,000 Jan 2008 est: $529,000 -22.4%
Zillow here. But not to worry, you can rent this beauty for only $3,800.
To carry over from the previous thread, rents are still very reasonable especially as compared to owning, so I will continue to be a Bitter Renter™ for now.
Has Zillow changed their algorithm? In 2008 I’ve been losing 1K per day in equity per Zestimates. However, the comps are completely ridiculous. Essentially, they’re not differentiating condos in my low crime and good school area from those in a crappy high foreclosure rate neighborhood (different zip code) where most people don’t want to live and Operation Return to Sender raided. WTF?
Akubi. Yes. Xillow has done a lot more than just tune their model. They've blown it up and then some. I've got lots of details. What do you want to hear?
According to Zillow, my shitbox is "worth" 30% more than what identical shitboxes in my neighborhood are selling for.
Zillow is fun to look at but it is close to useless. I think that's a shame. The RE industry desperately needs a reliable, non-biased source for housing valuations.
On the bright side? I just met our new neighbors, an elderly couple from California. They paid cash. I am glad, this neighborhood needs stability.
@Lou, When did you buy? I see a Zillow correlation between those who bought during the bubble as opposed to pre-bubble in their calculations. While I bought in 2000 (when rent was extraordinarily high around here) someone with the exact same condo without a garden, etc. who bought in 2004/2005 is "worth" a hell of a lot more. Our economy in the US of A is so f-ed in the tendency to reward excessively stupid over consumption and screw over the savers. Speaking of which Countrywide has the highest savings APY I’m aware of. Would it be entirely insane to transfer ING savings to them given their various "issues" in order to keep up with inflation?
Akubi, I bought our brand-new Pulte shitbox in July 1995, and if I told you how much we paid you probably wouldn't believe me. I wish we had bought elsewhere, but that's water under the bridge and while it's a shitbox the neighborhood is safe and the house is almost paid off.
Regarding CW, they had a full-page ad in the Houston Chronicle yesterday touting 5% CDs. Two weeks before, WaMu was touting 6% CDs. WaMu is gonna be taken over very soon. CW is toast.
I am so fucking pissed off with retarded people who think itsallgood to further destroy the economy via Billary's BS national healthcare crap and foreclosed loser help packages from f-ing hell. Barack is a social liberal with far more fiscally sane concepts than Billary and I'm just so fucking pissed at this stupid state I want to vomit.
Zillow is still freakin useless. My little piece of the American dream still Zillows at $385k. There are 4 similar homes in my tract asking under $270k. And those ain't selling. I sure feel sorry for the family next door that paid $409k in Dec 06. Man are they fooked.
I, for one, admire our bluish overlords. At least when we have national health care, american business can compete on an equal footing with the rest of the industrialized world.
Sorry for being politically incorrect with certain earlier comments, but I'd prefer a big bluish Cthulhu overlord over Billary/Exxon/Iraq/McCain/Generalized shit in all remaining categories. Itallsux
I did a zillow on my zip code. up comes the town and 3 houses that have sold.
So then I put in my street address and zip code to get an estimate.
The number of rooms is wrong and the price is off by 40%. I check the detail, and it is a house on the same street name and number, but the wrong city and state. WTF??
So I put in the street, town and state. Now it is showing some joint in So California.
Must have a crack addict in charge of the search engine. Then again, anyone know if Casey got a w-2 looser job lately?
Akubi, the DNC will wise up and realize Hillary is unelectable. Bush has high negatives, I think Hillary's are on an equal level. I cringe when Bush speaks and I cringe when Hillary speaks.
It will be Obama vs McCain in November. Obama will be running with Richards or Edwards.
Good point. Most likely Obama and Richardson, which will appeal to the hispanic voters. That would be a first all the way: first African American president and first hispanic vice-president.
Sad thing is that whoever takes the White House and inherits the current mess in the economy, the war in Iraq, the shifting in power to Asia, etc. won't be reelected in 2012.
Clinton would be a smart choice as VP. Seriously. The sort of people that might have a problem with a black president hate her a lot more. She'd make a good life insurance policy for Obama. I think Richardson would be good at the job though.
The race is definitely too close for predictions. The Bill factor works both for and against Clinton, and although I think she'd be more of the same, she and Obama seem to be splitting the "change" vote pretty evenly. It's important to keep in mind that most of her supporterz don't see a vote for Clinton as a vote for the status quo.
@Lou, She definitely has the cringe factor working against her. Although I'm disappointed in California I'm not as pissed off as I was last night. There's still time.
@Harish, I would have agreed with you during the last presidential election, but now that all of the Iraq/economic crap has clearly hit the fan I don't see how it could be blamed on the next administration.
@Ogg, I'm not sure if Billary would settle for VP given her "35 years of experience" half of which was in corporate law.
But having a Clinton in the VP slot would be a change. And she's pro-change, isn't she? I mean, she says change the way Giuliani says 9/11, so surely she'd be happy with VP.
I voted yesterday, but only on the CA propositions. All in all, I wasn't suprised how the partisans voted, and could co-exist with the narrowed choices.
I am enjoying this ongoing Coulter/Limbaugh reactionary reaction. I still that either Hillary or Obama (or both) will have to disown the fringe left.
Sold 09/15/2006: $632,500
26 comments:
To carry over from the previous thread, rents are still very reasonable especially as compared to owning, so I will continue to be a Bitter Renter™ for now.
Damn, just popped up for air & missed a First!
Off-topic, but has anybody noticed that a fourth fiber-optic cable was cut today in the Middle East?
Nothing much in the mainstream news. Source is /., though.
Just can't find it in my heart to call it coincidence. WTF?
@wagga:
thanks for the link. The comments are pretty interesting too.
I know what desperation smells like, and this aint it.
Wake me this time next year.
Has Zillow changed their algorithm? In 2008 I’ve been losing 1K per day in equity per Zestimates. However, the comps are completely ridiculous. Essentially, they’re not differentiating condos in my low crime and good school area from those in a crappy high foreclosure rate neighborhood (different zip code) where most people don’t want to live and Operation Return to Sender raided. WTF?
Akubi.
Yes. Xillow has done a lot more than just tune their model. They've blown it up and then some. I've got lots of details. What do you want to hear?
@Dawg,
I'd like to know why they apparently aren't factoring in zip code. Anyone who grew up with 90210knows it's important ;).
akubi,
I will post tomorrow about the sins of Xillow,
According to Zillow, my shitbox is "worth" 30% more than what identical shitboxes in my neighborhood are selling for.
Zillow is fun to look at but it is close to useless. I think that's a shame. The RE industry desperately needs a reliable, non-biased source for housing valuations.
On the bright side? I just met our new neighbors, an elderly couple from California. They paid cash. I am glad, this neighborhood needs stability.
@Lou,
When did you buy? I see a Zillow correlation between those who bought during the bubble as opposed to pre-bubble in their calculations. While I bought in 2000 (when rent was extraordinarily high around here) someone with the exact same condo without a garden, etc. who bought in 2004/2005 is "worth" a hell of a lot more.
Our economy in the US of A is so f-ed in the tendency to reward excessively stupid over consumption and screw over the savers.
Speaking of which Countrywide has the highest savings APY I’m aware of. Would it be entirely insane to transfer ING savings to them given their various "issues" in order to keep up with inflation?
Akubi, I bought our brand-new Pulte shitbox in July 1995, and if I told you how much we paid you probably wouldn't believe me. I wish we had bought elsewhere, but that's water under the bridge and while it's a shitbox the neighborhood is safe and the house is almost paid off.
Regarding CW, they had a full-page ad in the Houston Chronicle yesterday touting 5% CDs. Two weeks before, WaMu was touting 6% CDs. WaMu is gonna be taken over very soon. CW is toast.
Zillow is worthless.
CFC may be toast, but their CD's are at least FDIC insured toast.
Fuck the Latinos in California!
I am so fucking pissed off with retarded people who think itsallgood to further destroy the economy via Billary's BS national healthcare crap and foreclosed loser help packages from f-ing hell.
Barack is a social liberal with far more fiscally sane concepts than Billary and I'm just so fucking pissed at this stupid state I want to vomit.
Zillow is still freakin useless. My little piece of the American dream still Zillows at $385k. There are 4 similar homes in my tract asking under $270k. And those ain't selling. I sure feel sorry for the family next door that paid $409k in Dec 06. Man are they fooked.
GX
I, for one, admire our bluish overlords. At least when we have national health care, american business can compete on an equal footing with the rest of the industrialized world.
Sorry for being politically incorrect with certain earlier comments, but I'd prefer a big bluish Cthulhu overlord over Billary/Exxon/Iraq/McCain/Generalized shit in all remaining categories.
Itallsux
I did a zillow on my zip code.
up comes the town and 3 houses that have sold.
So then I put in my street address and zip code to get an estimate.
The number of rooms is wrong and the price is off by 40%. I check the detail, and it is a house on the same street name and number, but the wrong city and state.
WTF??
So I put in the street, town and state. Now it is showing some joint in So California.
Must have a crack addict in charge of the search engine. Then again, anyone know if Casey got a w-2 looser job lately?
h.
Akubi, the DNC will wise up and realize Hillary is unelectable. Bush has high negatives, I think Hillary's are on an equal level. I cringe when Bush speaks and I cringe when Hillary speaks.
It will be Obama vs McCain in November. Obama will be running with Richards or Edwards.
@Lou
Good point. Most likely Obama and Richardson, which will appeal to the hispanic voters. That would be a first all the way: first African American president and first hispanic vice-president.
Sad thing is that whoever takes the White House and inherits the current mess in the economy, the war in Iraq, the shifting in power to Asia, etc. won't be reelected in 2012.
@ Lou:
Clinton would be a smart choice as VP. Seriously. The sort of people that might have a problem with a black president hate her a lot more. She'd make a good life insurance policy for Obama. I think Richardson would be good at the job though.
The race is definitely too close for predictions. The Bill factor works both for and against Clinton, and although I think she'd be more of the same, she and Obama seem to be splitting the "change" vote pretty evenly. It's important to keep in mind that most of her supporterz don't see a vote for Clinton as a vote for the status quo.
@Lou,
She definitely has the cringe factor working against her.
Although I'm disappointed in California I'm not as pissed off as I was last night. There's still time.
@Harish,
I would have agreed with you during the last presidential election, but now that all of the Iraq/economic crap has clearly hit the fan I don't see how it could be blamed on the next administration.
@Ogg,
I'm not sure if Billary would settle for VP given her "35 years of experience" half of which was in corporate law.
Richardson would make a great SecState. He has the quals for it. Would make a good VP also, but I thing he would be wasted there - better as SecState.
@ Akubi:
But having a Clinton in the VP slot would be a change. And she's pro-change, isn't she? I mean, she says change the way Giuliani says 9/11, so surely she'd be happy with VP.
</sarcasm>
I voted yesterday, but only on the CA propositions. All in all, I wasn't suprised how the partisans voted, and could co-exist with the narrowed choices.
I am enjoying this ongoing Coulter/Limbaugh reactionary reaction. I still that either Hillary or Obama (or both) will have to disown the fringe left.
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