Comments for HousingVibe

Comment on Underwater Homeowner’s Tax Deduction by craiggoebbel

craiggoebbel — Thu, 11 Feb 2010 02:23:34 +0000

Mark,

If my idea was actually made into law or inserted into the IRS code, using your example you could make an income adjustment for tax purposes of $60,000. So far, no one is interested in the concept.

Comment on Underwater Homeowner’s Tax Deduction by Mark

Mark — Sat, 30 Jan 2010 15:57:14 +0000

So let me get this straight. I purchased my house for 300k in 2006, i owe 220k and I just got my appraisal at 160k.. I can write off 60k on my taxes and get credited for it????

Comment on Mortgage Disclosure Improvement Act – You Get What You Order by Robert Shumake

Robert Shumake — Mon, 18 Jan 2010 21:40:33 +0000

Just wanted to say that I read your blog quite frequently and I’m always amazed at some of the stuff people post here. But keep up the good work, it’s always interesting.
See ya,

Comment on Fearless Prediction – The Seattle Fair Weather Real Estate Recovery by COACHING BY PETER

COACHING BY PETER — Tue, 14 Apr 2009 01:39:05 +0000

This article is very timely and relevant. As I quote Cameron Muir, an economist, “Home sales are unlikely to fall much further..That being said we expect home sales not to decline much further.”

But it’s never too late, with the right business plan set up, it will lead to valuable outcome. This is what most counselors would give as an advise.

Comment on Greater Seattle. Home Sales in a Pickle by Dave

Dave — Sat, 07 Mar 2009 07:09:09 +0000

Is it okay to leave a comment on a comment?

Don’t know a thing about Seatlle real estate. But I do have some experience with the Long Run Postulate. I, along with everyone at the Delta Tau Delta fraternity at O.U. was both a victim and a student of the LRP. None of us believed it could be true. Now I’d guess none of us doubt its veracity.

Dave Hackel, O.U., ’71

Comment on Is Shiller Right? by Lee Gallaher

Lee Gallaher — Thu, 05 Mar 2009 17:41:51 +0000

Good morning Craig.
Thanks for the invitation to the conversation.
What a fun question to ask an economist. “Where is the bottom?”
A very simple approach is to look to the past.
Does the past predict the future? Some say it does.
I suspect it can; however, we cannot overlook the wide and varied
availability of media and instant communication.
Now, back to the future. What happens to the chart when we
consider the rapid swelling of our population?
The biggest savers in the last 100 years are passing on a bit of money
to the biggest spenders. Where will they put this money?
Our good friends at the Fed seem to have something to do with the cost of money.
The cost and amount of money in circulation within this fiat system is not up to
“We the people”. It is up to the Federal Reserve Bank.
So, since “We the people” have so little to say about the variables we might consider
the basics:
1. No more land is being made (except in Dubai)
2. Most people will seek some sort of controllable shelter.
3. People are living longer while more people are being born and immigrating.
4. Affordability index is pretty enticing.
5. All things tend to cycle.

Conclusion: ( Illinois farm boy style) …and to those of you who would like
to correct my spelling or diction, refer to my good friend Mark Twain for advice.
Media is like the birds on the plains of Africa that alert the monkeys to new info.
So, as the effects of this affordability index coupled with effects of the $8k tax credit
get reported in the quarterly housing reports, the heard will start to move.
Someone has to lead the heard and these are the entrepreneurs. I think a good bit
of foreign money is being used in various parts of the country now to buy up good properties. As news gets out about the shrinking inventory, affordability index and
control, afforded by ownership, the heard will start to move. Motion tends to want
to stay in motion until acted upon by an equal or greater force….interest rates?

Simple farm boy logic which lead to prognostications:
A. I can rent a house, but rent may go up and I get no write offs or control.
B. I can own that same home for nearly the same cost as rent with some advantage:
1. I can paint it in zebra stripes if I so choose.
2. My payment won’t go up-except for ins. and property tax.
3. I can write-off most of the payment (which causes affordability)
4. If I live long enough, I might be able to pay it off.
5. I could buy another one and rent the other one and let tenants pay it off.
6. There are some zero down programs still being offered.

* This logic is only valid if you have a job and pay your bills.
There at least 3 zero down programs in Snohomish County.

P.S. “The bottom” has already been discovered in many places throughout the
U.S. Here in the Puget sound area, we will find it by fall 2009.

Lee Gallaher owns Gallaher Real Estate in Mukilteo Wa. and has been know
to have opinions.

Comment on Greater Seattle. Home Sales in a Pickle by Dennis W Jeffers DDS

Dennis W Jeffers DDS — Thu, 05 Mar 2009 14:10:08 +0000

I am quite familiar with the LRP(Long Run Postulate) referenced in the ‘Greater Seattle. Home Sales in a Pickle’ article by real estate expert,fraternity brother, and LoanTek CEO,Craig Goebbel. This tried-and-true bromide was in fact my original thought long since passed on to generations of optimists and believers of the existence of the silver lining. This Postulate was in fact born and first spoken by me in 1970 out of necessity of living next to George Koury, former district attorney of Loraine County,Ohio, in the Delta Tau Delta Fraternity House at 4 University Terrace,Ohio University,Athens,Ohio. My roommate and I(Jeffers and Kelly) tested fraternity president George Koury’s patience to the breaking point and when all options for resolve had expired the LRP was in effect. Dennis Jeffers Ohio University 1971