It's official

[solarbird]

The housing bubble's about to burst. I got a postcard from a realtor - first class mail, even, not bulk - asking to put the house we just bought last fall onto the market.

We paid too much for it. And the dumb thing is, if we turned it around, we'd probably make a little money.

Dumb, dumb, dumb, dumb, dumb, dumb, Pop!

Comments

[brightbeak.livejournal.com]

here in canada, we are keeping hawk-eyes on the interest rates! we still have 18 months or so on our original 5yr mortgage term on the house, and we're NOT going to wait on renegotiating the mortgage if the rates start that inexorable climb up... we'll willingly take the hit on the penalties to avoid having a rate that's too high!
and we DO know that we could get quite a bit more for the house if we were to sell it now vs what we paid for it in nov '01, but we are not willing to move as it IS the ideal location for us, and we jsut got rid of the 2nd to last item that is allergy-laden, and only have one more thing to do, and that one thing WILL detract from the selling price of the house, and when it is fixed will gratly increase the home's value (the bathroom has a mould problem w/ a faulty fan, etc., and we're going to fix that as soon as we can get the $ saved for the reno's)
i honestly can't see the point of reselling THIS SOON unless you have both:
a] an honest chance of making at least 10% more in the sale than you purchased for, and
b] a good home in the wings waiting to be purchased that will be out of your range if you wait 4yrs...

i think you are just getting settled & whatnot, and would be silly to sell at this time... YMMV of COURSE as with all things from this puffin's beak :)

[poetry-lady.livejournal.com]

I got one of those notices 6 or so months after I moved in, almost 7 years ago. From the realtor who helped me find and buy the house. I get them at least every 6 months from various realtors. I don't think it's indicative of anything, really, other than the insane "keep-getting-bigger" and "keep-going-farther-out" mentality around here.

[solarbird]

Maybe! But combined with the Times article a couple of days ago that noted house prices up 25% in our area (North King County - Lake Forest Park, Kenmore, Shoreline) and I'm going "woah, splody!"

[dpawtows.livejournal.com]

I get letters & postcards like that all the time. I got them when I lived in an apartment, too.

[poodlgrl.livejournal.com]

You don't have any apartments available right now, do you?

[solarbird]

Yah, but first class mail? I don't count the bulk mail crap.