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Started By
Message
re: My anecdotal real estate observations
Posted on 2/1/11 at 1:04 pm to LSURussian
Posted on 2/1/11 at 1:04 pm to LSURussian
Basically, from 2001 - 2007 we stimulated the economy and drive up stock prices by having consumers go into debt.
1
Posted on 2/1/11 at 1:06 pm to Things and stuff
quote:You know that the stock market is back to where it was prior to the crash, right? Is it being driven by debt now?
drive up stock prices by having consumers go into debt.
Posted on 2/1/11 at 1:09 pm to LSURussian
quote:
quote:
drive up stock prices by having consumers go into debt.
You know that the stock market is back to where it was prior to the crash, right? Is it being driven by debt now?
No. It's driven by Obamagic.
Posted on 2/1/11 at 1:10 pm to LSURussian
quote:
I think HD's stock price accurately reflects any diminished home improvement activity. It's about 10% under where it was in 2007.
Yeah, it's about 14% off of where it was when the national bubble peaked. But that only tells part of the story. For one thing, the types of renovations I'm talking about probably didn't get run through Home Depot. If anything, people now wanting to do stuff on the cheap would TURN to HD now in order to still be able to possibly afford things.
I've spoken to a variety of craftsmen in this local market and I can tell you that they appear starved for real work (at substantially lower rates).
Posted on 2/1/11 at 1:13 pm to LSURussian
quote:
You know that the stock market is back to where it was prior to the crash, right? Is it being driven by debt now?
Probably, although of the sovereign variety.
Posted on 2/1/11 at 1:14 pm to Tiger JJ
quote:Which is exactly why my wife and I are working on our plans to remodel our kitchen. We've been waiting for this for several years.
I've spoken to a variety of craftsmen in this local market and I can tell you that they appear starved for real work (at substantially lower rates).
Posted on 2/1/11 at 1:27 pm to LSURussian
quote:
Which is exactly why my wife and I are working on our plans to remodel our kitchen. We've been waiting for this for several years.
Should be easy pickings.
Posted on 2/1/11 at 1:28 pm to Tiger JJ
Jersey, two or three years ago we discussed the South Florida condo market. As I remember you wrote that it would take 20 years for it to recover. I thought you were exaggerating. I was hoping for 5 to 10. I now believe you were right. Thank goodness that when my job here ends I will be able to rent it out (at least under current conditions) at a negative cash flow I can afford.
Posted on 2/1/11 at 1:29 pm to PlanoPrivateer
quote:
Jersey, two or three years ago we discussed the South Florida condo market. As I remember you wrote that it would take 20 years for it to recover. I thought you were exaggerating. I was hoping for 5 to 10. I now believe you were right. Thank goodness that when my job here ends I will be able to rent it out (at least under current conditions) at a negative cash flow I can afford.
I haven't kept up with that market much. I assume Brickell is doing ok by now?
Posted on 2/1/11 at 1:45 pm to LSURussian
quote:
Which is exactly why my wife and I are working on our plans to remodel our kitchen. We've been waiting for this for several years.
depends on the area, in the Bham area the top guys are still busy and getting their typical rates, those who were basically tied to a builder or two during the boom are either hurting, or dead, because their referral network dried up. But from what I've seen, you still get what you pay for, you aren't going to get a $25K job done for $20K. Although the contractor may tell you that's what you're getting.
Posted on 2/1/11 at 2:06 pm to ForeLSU
quote:Agreed.
Which is exactly why my wife and I are working on our plans to remodel our kitchen. We've been waiting for this for several years.
depends on the area,
Posted on 2/1/11 at 2:33 pm to ForeLSU
quote:
depends on the area, in the Bham area the top guys are still busy and getting their typical rates, those who were basically tied to a builder or two during the boom are either hurting, or dead, because their referral network dried up. But from what I've seen, you still get what you pay for, you aren't going to get a $25K job done for $20K. Although the contractor may tell you that's what you're getting.
It's worse here in ATL. We had multiple bids from 2006-2007 to compare with the total interior and deck reno last year and we saved close to 35%. The custom kitchen cabinets alone were close to 50% of what we were quoted back then. Hammered copper apron sink in the kitchen declined from $3400 to $900 and change for a very good heavy gauge quality sink. Granite was much cheaper, but the best deal was the covered deck with 30-year shingles and massive stone fireplace that we originally got bids of $24-28k which was built for $14.5k, the contractor lost his behind on that one.
Contractors/HIP are dying here.
Posted on 2/1/11 at 2:35 pm to tirebiter
quote:Now THAT'S what I'm talking about!
The custom kitchen cabinets alone were close to 50% of what we were quoted back then.
Music to my ears. In a kitchen remodeling, the cabinets are a big part of the expense.
Posted on 2/1/11 at 2:38 pm to tirebiter
quote:
Granite was much cheaper
Yeah, I've heard that granite prices have just crumbled.
Posted on 2/1/11 at 2:48 pm to LSURussian
quote:
In a kitchen remodeling, the cabinets are a big part of the expense.
BR has not experienced the RE implosion like ATL, the prices there are likely not as low and this was last year when things were really in the doldrums here. Still, you would walk into a showroom in 2006/2007 and after 10 minutes tell the wife we are waiting until prices move down, it was insane. The granite guy--he was doing high end homes, mid-level homes, bars, etc in multiple states and they were close to going out of business. The whole process was eye opening even knowing what was going on and I am a cynic to start with.
Knotty alder cabinets, we like them a lot. The guy and his dad have been in business > 30-years, they did a great job.
Posted on 2/1/11 at 2:52 pm to tirebiter
And here I am worried about spending $2500 on some stuff to spruce up the yard.
Posted on 2/1/11 at 2:55 pm to Golfer
quote:
And here I am worried about spending $2500 on some stuff to spruce up the yard.
That would get you two kegerators and a Primo Oval XL with cypress table...that ain't bad.
Posted on 2/1/11 at 3:14 pm to Tiger JJ
quote:
Yeah, I've heard that granite prices have just crumbled.
har har!
Posted on 2/1/11 at 3:16 pm to tirebiter
tirebiter, do you know if HVAC prices have gone down in Atlanta? I'm about ready to get a new system.
My neighbor behind me just got a new roof (beautiful slate looking shingles), new siding and the whole place painted for ridiculously low. They litterally did it all in about 6 days and it looks great.
My neighbor behind me just got a new roof (beautiful slate looking shingles), new siding and the whole place painted for ridiculously low. They litterally did it all in about 6 days and it looks great.
Posted on 2/1/11 at 3:18 pm to Tiger JJ
quote:
Granite was much cheaper
Yeah, I've heard that granite prices have just crumbled.
I'm going to wait until they hit rock bottom....
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