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49 comments:
Business Week: Real Estate not crashing everywhere.
The Most Expensive Real Estate Markets in the World
by Prashant Gopal
Saturday, May 31, 2008 provided by Business Week
In the world's most expensive property markets, $1.5 million still doesn't go very far despite some softening in real estate prices
How much house can you buy for $1.5 million? Depending on where you look, it might not be very much.
Despite global economic concerns, the credit squeeze, and rising commodity prices, properties in the world's most expensive neighborhoods are still commanding ferocious premiums. While $1.5 million in Cleveland or Tampa would probably purchase a substantial house, with four bedrooms, a multicar garage, and maybe even such amenities as a swimming pool and media room, in London's Belgravia or on Manhattan's Fifth Avenue, it would buy you little more than a glorified shoebox.
6. Manhattan
Price: $4,320 per sq. ft.
What you get for $1.5 million: Studio apartment
Annual price change: 25%
At the high end, Manhattan continues to boom even as the credit crunch deepens. In fact, in the first quarter of 2008 average prices were up 19% and the price per square foot was up 16%, according to the Corcoran Group. There are several reasons: First, the city has been shielded from the subprime crisis, largely because its co-ops and condos are well out of reach of most buyers with poor credit and shaky finances. Second, it remains a popular destination for movers and shakers in the financial, entertainment, and media world. Last, because of the weak dollar it is more affordable than ever for wealthy foreigners looking for a Manhattan pied-à-terre.
... and, of course, because Lance told you so.
Paris
Here's what Businessweek says about some "expensive" near by areas:
Maryland
Virginia
And of course, West Virginia, which some think is part of the DC Metro Area.
(about the above: The Businessweek.com list of the Most Expensive Suburbs to Live In Now was calculated by weighing several factors: cost of living, nonretail expenditures (mortgage and utility payments), median home price, and median property tax.
The result was reached by taking a weighted average of nonretail expenditures (50%), cost of living (30%), median home price (10%), and median property tax (10%). In some states, property tax and median home sale information were not available, in which case we gave nonretail expenditures a 60% weight and cost of living a 40% weight. If either the median property tax or median home price was unavailable, we gave the other measure a 20% weight.)
" While $1.5 million in Cleveland or Tampa would probably purchase a substantial house, with four bedrooms, a multicar garage, and maybe even such amenities as a swimming pool and media room..."
The author has obviously never been to Cleveland.
$1.5 Million in Cleveland would buy a mansion. (No, not a McMansion... the real thing...)
http://tinyurl.com/3rvqqj
"and, of course, because Lance told you so."
Told us what? That the world has some expensive real estate?
...
DC is not Manhattan, nor it is Paris, or London... etc.
...but hey, obviously if there is expensive real estate somewhere that means real estate in DC must be a winner.
Smart investing strategy you have got there KH.
Doesn't Lance live in a TH?
It's probably worth less than this one, a Upper East Side Limestone Townhouse, $75 million, 22 E. 71st St. Cross street: Madison Avenue
For now.
Then there's this one. The Harry T. Sloane Mansion, $64 million, 18 E. 68th St.,
Cross streets: Fifth Avenue and Madison Avenue.
It's amazing what some of these places are worth. Looks a little like Embassy Row. The places in New York are bigger though.
What do you think, Lance?
Yeah, Lance's townhouse will be rivaling those on the upper east side in no time.
I think that should be obvious to anyone... lol
Hey, maybe your real estate speculation will pay off big for you!
I bet in a few years your townhouses will be worth tens of millions just like the most expensive real estate in Manhattan!
Why not?
Based on your posting history over the last few weeks it seems more and more you have given up completely on making any kind of a rational argument.
Posts like these are little more than trolling.
kh said:
"What do you think, Lance?"
I think Leroy is a static thinker (or in complete denial). Why did he not address the fact that the high end continues to boom? Either he cannot see the widening gap between what he can afford and what he wants to be able to afford, or he refuses to see it ... since he refuses to acknowledge the grain of truth in "buy now or be forever priced out". Yes, there will always be something out there he can afford ... just not the something which he wants, or more correctly, thinks himself entitled to. Leroy ... poster child for the entitlement generation.
Leroy, wannabe flipper ... had he been born 10 years sooner, he'd have been flipping for sure.
Every word he writes, every "injustice" he rails at, everything he has to say about homebuying, reveals his sour grapes at not being able to flip.
He doesn't have a clue what being a homeowner means. He's just looking to make a buck and frustrated that opportunity passed him by.
Yeah, I guess I am just being a "static thinker" by thinking your 2,500 sf rowhouse in Washington DC is unlikely to ever equal a huge mansion on the upper east side of Manhattan.
Obviously that is a real possibility and anyone who wasn't a "static thinker" would recognize that. lol
"Why did he not address the fact that the high end continues to boom?"
Talk about delusions of grandeur... those houses have about as much in common with yours as a private jet has in common with a Dodge.
Naturally the fact that the very most expensive real estate in the entire country is still expensive that means your house will eventually catch up right?
Meanwhile... in the real world...
"Leroy, wannabe flipper ... had he been born 10 years sooner, he'd have been flipping for sure."
Hey cool, I guess if you don't limit yourself to facts you can just say whatever the heck you want right?
"Every word he writes, every "injustice" he rails at, everything he has to say about homebuying, reveals his sour grapes at not being able to flip."
Injustice? Shoot, it is a market. They go up... they go down... that is how things work.
You are the one that bought in big and has spent the last few years trying to sell people on the idea that DC real estate is going to catch Manhattan.(and naturally make you millions... not that you care about that though... you are just observing that you will make millions...)
"He doesn't have a clue what being a homeowner means. He's just looking to make a buck and frustrated that opportunity passed him by."
Yeah yeah, the opportunity passed me by.
Just like all the other prospective homeowners, my window of opportunity "slipped away" back in 2006 exactly like you said it would...
"The window of opportunity for those who have been sitting on the sidelines waiting to purchase is quickly slipping away, however I suspect most bubbleheads will miss it. I just hope they are on here a year from now explaining why they are still "waiting it out." The justifications will be interesting to hear." -lance Sept 26, 2006...
lol
Leroy, you know the kind of place you want to buy costs more now than it did back in 2006 ... So, why did you let it pass you by? That's right, you're moving overseas ... yada yada ...
...and what "kind of place" is that lance?
Oh wait... that is just you trolling again.
You don't have a clue what kind of place I want, just like you didn't have a clue what kind of places "those who have been sitting on the sidelines waiting to purchase" wanted in 2006...
Naturally in your delusional little world they all MUST want to purchase in one of the small parts of the city that have not yet seen price declines...
Leroy, Here's an anecdote - but also largely backed with evidence from the NVAR monthly reports Jan - April 2008: I was at an open house in Alexandria city yesterday. An agent told me that recently it had been very hard to sell expensive SFHs - that there was a recent period in which NO houses over a million $ sold. The Jan-Ap 2008 NVAR reports show:
Jan 08: 0 houses > $1 mill. sold
Feb 08: 2
Mar 08: 2
Ap 08: 1
For houses in ALL price ranges, all months, sales appear to be down 45-50% from the same period in 2007. For example, in Ap 07, there were 6 houses over a million $ sold, and 39 in all ranges in Ap 07 vs. 19 in all ranges in Ap 08. Alexandria has also greatly reduced the assessed tax value of some of these expensive houses, since 2005.
I realize that the above data don't include townhouses in Old Town - I'll leave it to someone else to determine whether there's a different picture there.
http://www.sacbee.com/103/story/977978.html
Shantytowns developing in far-commute towns in CA - I wonder if this is the fate of PWC?
So... In Alexandria City, 5 SFHs over $1 million sold in the first 4 months of 2008 compared to... 16 in the same time period of 2007.
Sounds like: "the high end continues to boom."
LOL ... Leroy, come on now ... you can do better. Don't you know $1 million dollars doesn't buy you "high end" in Alexandria City ... or probably anywhere else in this metro area.
Nice try though.
All,
The REO home I bought last week was apparenlty listed for a foreclosure auction on 6/9/08. Today, I can't find the listing, but, we are getting people snooping around like vultures. We have about 7 folks just this weekend. Any suggestions on how to stop this? I'm thinking of asking the realtor to post a 'sold' sign, instead of 'no signage'. We actually had someone ring the doorbell Sunday and come in. The guy was nice, but, sure was brazen to simply walk in someone's home....
"LOL ... Leroy, come on now ... you can do better. Don't you know $1 million dollars doesn't buy you "high end" in Alexandria City ... or probably anywhere else in this metro area."
That data is for all houses $1 million AND UP. There is no upper limit on the price bracket lance.
If there are any "high end" sales by whatever the heck your your definition of "high end" is taking place they are counted among the 5 houses sold this year in the $1+ million price bracket.
Did you know there were 36 active listing in the 1+ million detached SFH price bracket in April according to NVAR?
Lets see.. 1 sale... 36 listings...
Yep, sounds like a "booming" market to me.
Just thought you might like one more little bit of data to ignore.
doug said: "...Shantytowns developing in far-commute towns in CA - I wonder if this is the fate of PWC?"
From the article, they discuss one of the reasons why people moved out to Yuba County...
"...Homebuyers found quick rewards: a new house that at first cost $100,000 less than in Sacramento County and $170,000 less than in Placer County – with a bigger yard. But as demand has grown, the gap has narrowed. The median price for a new Sacramento County home today is just $30,000 higher than in Yuba County..."
1) Right now, the difference between comparable houses in PWC and Arlington is several hundred thousand dollars. If that gap narrowed to only $30K, i could see a major problem for PWC. Seems unlikely.
2) I don't know what percentage of PWC residents commute to DC, but there are many other employment centers in NoVA.
3) The people in that article are doing a 100+ mile round trip commute. Places like Manassas and Gainesville are roughly 30 miles from DC...60 miles round trip. That's 3 gallons a day if you get 20 MPG.
Gas - $4/gallon
MPG - 20
Round trip: $12 x 5 days a week = $60/week
Gas - $5/gallon
MPG - 20
Round trip: $15 x 5 days a week = $75/week
Gas - $8/gallon
MPG - 20
Round trip: $24 x 5 days a week = $120/week
You can throw in other factors such as traffic and time spent with family, but if you're just looking at $$, don't know how many people will spend an extra $400K on a house to save $60/week in gas (that's if it jumps to $8/gallon). Many will probably just buy a more fuel-efficient vehicle.
hog
You can throw in other factors such as traffic and time spent with family, but if you're just looking at $$, don't know how many people will spend an extra $400K on a house to save $60/week in gas (that's if it jumps to $8/gallon). Many will probably just buy a more fuel-efficient vehicle.
That's because most people in the United S--theads of America are simply too stupid to see the REAL story.
See, it depends on whether they remember to factor in the value of their time, the value of depreciation of the car, insurance, and "buying up."
When they're behind the wheel, they're either not spending that time on anything else, or they're driving irresponsibly. If I value my time at even a fraction of the professional rate I can get, that's $20/day or more, $100/wk. Think that's not relevent? What if I have to forgo training for a better job, or continuing professional education? What's the value of that lost marketability?
If their vehicle depreciates, say $15000 for 90,000 miles driving, that's another $10/day for that 60 mile commute.
Unless they lie to their insurance company, all that commuting mileage is likely to jack up their insurance rate--let's say $100 a month or more.
And if they are doing all that driving, they're likely to buy up to a fancy car that makes them feel like they are in their living room--complete with quad stereo, etc. And bigger, NOT SMALLER, because it's "safer" LOL. So, LESS fuel economy, and more money per month for the payment including the interest (non-deductible.)
So now we're up to something like $1200 a month for the worst offenders. Ouch. That would go a LONG ways on a deductible mortgage. Like another $200,000 or more, PLUS the kickback from deductibility of interest. PLUS it's a supposedly appreciating asset and inflation hedge, not "money down the drain" on gas, car payment, etc.
And, I didn't even include the increased cost of tires, brakes, filters, lubes, car washes, etc, plus cell phone minutes XM subscriptions, for the most spoiled brats. And what do you think the realized cost of all that stress will be? And the cost of not having time to exercise or get enough sleep? And what IS the cost of not spending enough time with their family?
And trading down? LOL they are finding out they'll take a BATH on the resale value of that guzzler because no one wants it right now and they are probably "upside-down" on their loan, and then turn around and take a BATH on the depreciation and insurance for the NEW car (and maybe on the premium cost of Detroit-suppressed hybrid technology being imported with our currently weak dollars.)
I think this is why the mathmatically challenged folks are now squawking about gas prices, even though we still have AMONG THE CHEAPEST GAS IN THE NON-OIL-PRODUCING WORLD: these people think that a long commute and a "mansion-car" to go along with their McMansion is a BIRTHRIGHT, and they are just now finding out their flawed math and lifestyle doesn't work.
For these people, the recent era of SUPER CHEAP gas, CHEAP credit, and long-lived, reasonably priced import cars has spoiled them, and robbed them of the wisdom that HAVING AN AUTO IS AN EXPENSIVE PRIVILEGE THAT IS QUITE UNIQUE IN THE WORLD.
That era may now be ending, thanks to wars-for-oil, and terminal inflation from importing it.
Now is when the privilege becomes a burden. SUCK IT UP.
And while they're at it, they should try LIVING AT OR BELOW THEIR MEANS. Make the leap to thinking that maybe, just maybe, it's not a good idea to spend EVERY SPARE DIME on debt-interest. These people might find out they don't NEED that J.R. Ewing house, OR the BIG-AZZ ride, OR the long commute, OR the long hours at work to pay for it all. AND they'll maybe have saved a little for the NEXT thing that will gouge their wallet, like their job going overseas to a country whose people think that WORKING and LEARNING are their BIRTHRIGHT, rather than a burden they have to spoil themselves to cope with.
First, the concept of value is interesting. The Federal Reserve recognizes that the value of a house lies in its shelter quality. The reason CPI doesn't track house prices (instead tracking owners equivalent rent) is because the Federal Reserve (or was it Congress?) recognized that the prices of houses could rise above their value as shelter. Conspiracy theorists could use that as evidence of bubble planning. Bottom line: price does not equal value. As an aside, the I understand having a nice house to have nice surroundings. Having a nice house to impress one's friends is ... unimpressive.
Second, the reason high-end houses are still moving is because people who buy those houses tend to be less impacted by falling prices. Said differently, they can afford to pay more (and apparently, they do). In many ways, the bubble for them is far less relevant than to the average wage earner. If some well-to-do type looses $1M on a sale (say, sells for $1.5M instead of $2.5M), well, they still have $1.5M and aren't going hungry. If they do go bankrupt over it, then they probably deserve it. But if a wage slave looses even $50k when he /she wants to sell a house, then he/she might not even be able to sell, because they can't pay the difference at closing.
Once upon a time, two similar houses in the same neighborhood in similar condition were prices similarly. Now, the range is $150k, even more at times. It will take time for this all to iron itself out, & that goes for Arlington & Alexandria & other "exclusive" areas, as well.
Mark, that sucks! Hope they wipe their feet before coming in, introduce themselves, and then go away peacefully.
Since I live in PWC maybe I'll set up some tents in my front lawn and charge rent.
Please...
I work in Chantilly, the wife works in Dulles. Neighbors work in Tysons, Fairfax, Sterling, Herndon, a few take the VRE into DC (1 hour 1 one way). pssss let you tell you a secret there are a ton of good paying jobs outside the beltway. Because the last time I checked the biggest company in the entire world setup shop right here... the US government. I'd like to see those jobs get shipped overseas. That's the big reason why in less than 2 years prices in this area will stablize and very slowly gain.
Later
Steve
Scott: And if they are doing all that driving, they're likely to buy up to a fancy car that makes them feel like they are in their living room
Is that it?
I've wondered why I drive what's essentially a beater, and everyone who lurches in from waaaay-the-H-out-there has a better, newer car than I do. I'm in my car 15-20 minutes in the morning and evening. I barely have time to bite the wrapper off the Ho-Ho.
My neighbor, who is a millionaire in stock and bond investments, drives a 10+ year old car. Of course, they've got less than 50,000 miles on it and it lives in their garage at home or the garage at their office.
From Doug's link:
Gracie Prado confesses that she'd like to move back to Elk Grove, closer to work. So apparently do many others.
"A neighbor said if she had known then what she knows now (about gas prices), she might have bought in Sacramento," says Kathy O'Donnell, who retired to Plumas Lake about the same time the Prados moved to Edgewater.
Let's see, it costs more to commute the long distance AND the houses way-the-heck-out-there are losing value fast. Yep, that's where I'd want to put my money.
You see the clear reasoning. Lance? Doug? It makes perfect mathematical sense.
Buy a place out there, drive for hours, pay hundreds for gas, watch the place lose value.
Oh, I suppose any day now, houses close in will catch the falling value virus.
But what do you really think Scott?
:P
"Oh, I suppose any day now, houses close in will catch the falling value virus."
Substitute "close in" for "inside the beltway" and this could have been one of your posts from last year...
kh said: "...Let's see, it costs more to commute the long distance AND the houses way-the-heck-out-there are losing value fast. Yep, that's where I'd want to put my money."
Not sure if you're talking about the Sacramento area or PWC. Yes, PWC is losing value. Doug's question: Is it going to be a ghost town? Of course not. If $2/gallon was OK, $4/gallon isn't going to turn PWC into a ghost town. That's an extra $30/week. All the stuff Scott referred to hasn't changed: commute time, vehicle depreciation, insurance, brakes, tires, value of time.
Also, not everyone commutes to DC...
Steve said: "...I work in Chantilly, the wife works in Dulles. Neighbors work in Tysons, Fairfax, Sterling, Herndon, a few take the VRE into DC..."
kh said: "...I've wondered why I drive what's essentially a beater, and everyone who lurches in from waaaay-the-H-out-there has a better, newer car than I do..."
Well, if you drive a "beater", then most cars are probably newer...doesn't matter if they live "waaaay-the-H-out-there".
hog
hog: ..doesn't matter if they live "waaaay-the-H-out-there".
It might, if you avoid static analysis such as focusing on the price of gas.
For example...
kh said: "It might, if you avoid static analysis such as focusing on the price of gas."
I think you know what i was saying. With the "millionaire neighbor" reference, you seem to imply that all the smart/rich people live in Arlington and don't waste their money on new cars, while all the not-so-bright common folks live "waaaay-the-H-out-there".
hog
"It might, if you avoid static analysis such as focusing on the price of gas."
Are you predicting gas rationing KH? or are you just trolling again?
Do you think it makes you look clever to throw out things like that?
"I think you know what i was saying. With the "millionaire neighbor" reference, you seem to imply that all the smart/rich people live in Arlington and don't waste their money on new cars, while all the not-so-bright common folks live "waaaay-the-H-out-there"."
That would be in line with KH's previous comments to the effect that everyone who doesn't live in close is some kind of a redneck who eats a golden corral and goes to tractor pulls...
Really what this is about is KH trying to prop up the value of her "investment" properties "in close."
That is why she spent so long lying about her motivations for posting here while trying to convince everyone how "cool" it is to live "in close."
Leroy said:
"Really what this is about is KH trying to prop up the value of her "investment" properties "in close.""
http://tinyurl.com/6hp2x
I suppose you have a better explanation for why she spent so long lying about her real reasons for posting here and continually claiming to be an average homeowner worried about her tax assessment... all while trying to talk up real estate in close...
Later we find out she is yet another speculator that appears to have bought into the market without the vaguest understanding of how it works.
Anyone that performed the sophisticated "based on drawing a line between two points, one at the top of the bubble, real estate appreciates at 7% per year" analysis has no business speculating on real estate.
"I do own several rentals but more as a silent partner/passive investor. " - kh 4/3/08
Yet here she was last year playing the part of the concerned homeowner wishing for lower prices...
"Hey Lance and Alexa, what do you two think of this compared to this?
Is it a bug in the data or will I have a problem with my real estate tax next year?
I'm hoping it's an error. I pay enough already."- kh 10/9/07
"I'm guessing that they got something close to $1.5M. If they did, then the city can crank all our assessments up.
This area should not be pricey like Lance's 20009 or your Old Town. The houses are small and old. Most people work "regular" jobs and do not drag down the bucks.
What's funny is that when prices went up, my neighbors said, so what, I can't sell, where would I go?
These are people who saw 40K, 80K added to their assessments every year.
All it means that we pay more tax."- kh 10/9/07
"While everyone except flippers want prices to fall, it's not happening.
The data suggests that 2004/2005 to 2008 there will be a 20% increase around here. It seems like a big jump but it's a nominal 7%/year.
Every househead wins another hundred grand in the lottery but that's only if they sell.
The reality is a couple thousand dollar tax bill.
If a bubblehead will write a substantive, backed by facts, proof of a price fall, please send it in." -kh 10/10/07
(How did that 20% increase from 2005 work out? lol...)
And best of all...
"I'm getting worried.
You renters can always rent somewhere, I don't have a choice about paying my real estate tax.
Maybe you can cough up an extra $2,000, no problem." -kh 10/10/07
Yeah, that obviously sounds like a big problem. Real estate taxes must be painful when you are a speculator...
Lance: http://tinyurl.com/6hp2x
That's it!!!! Certain few BH''s have that. They've fixated on "proving" something for the church of the bubble.
Most of us simply do not care. You have it knocked. We've arranged it so that as gasoline goes up, traffic gets worse, and tolls increase, we keep on keeping on.
Somehow, they've gone "static" and chant the same mantras, it's coming, moving inward.
Uh-huh. Maybe, maybe not. Lance, you and I saw real estate go flat from about 1990 to 1999, with a dip of 10% or 15% about 1992.
It happens.
I remember that decade as some pretty good years. There were some rough spots, sure. There are ups and downs, we take the breaks when we get 'em.
"Most of us simply do not care."
Are you speaking for real estate speculators there?
Leroy asked kh:
"Are you speaking for real estate speculators there?"
"I do own several rentals but more as a silent partner/passive investor. " - kh 4/3/08
From Merriam Webster on-line:
Main Entry: spec·u·late
to assume a business risk in hope of gain; especially : to buy or sell in expectation of profiting from market fluctuations
Leroy, someone who is earning an income by renting out properties isn't speculating. They're working to provide a service or good just like the rest of us. I.e., they aren't doing the arbitrage which a wannabe flipper such as yourself thinks is the only reason to own real estate. (You can look up "arbitrage" yourself at merriam-webster.com/dictionary .)
kh,
can you please re-post the cam card link you posted a couple weeks ago?
thanks
"Leroy, someone who is earning an income by renting out properties isn't speculating."
Heh... right right... nobody is a real estate speculator.. they are all "investors."
Sorry, but buying rentals and then wishing for 7% annual appreciation of those rentals is speculation.
If KH were here as an "investor" as you put it she wouldn't be here going on and on about climbing prices... she would be interested in talking about the rental market...
I do notice though that once again you seem willing to speak for KH when even KH can't come up with an adequate explanation for herself.
Last year she claimed she couldn't afford to live in DC and was worried about her rising taxes...
now you want to make pretend she is some successful real estate "investor." (who just happens to be utterly clueless about the real estate market and just happened to predict 7% annual appreciation...)
"a wannabe flipper such as yourself"
Repeating a lie doesn't make it any more true lance. You should know that after years of calling the bottom and denying that prices were dropping...
"can you please re-post the cam card link you posted a couple weeks ago?"
I just punched your address into the DC crime mapper utility. I had no idea you lived in such a high crime area. I am surprised you haven't invested in some kind of camera system already.
http://crimemap.dc.gov/
In the last 12 months, within 1000 feet of your address, which is about two blocks in every direction, there have been:
37 robberies including 15 with guns.(including one gun robbery almost outside your front door)
4 assaults with a deadly weapon.
33 burglaries... again including one on your block.
24 stolen cars... including one on your block.
You might want to get a real camera and make sure it is visible.
Leroy said:
"If KH were here as an "investor" as you put it she wouldn't be here going on and on about climbing prices... she would be interested in talking about the rental market..."
"... all while trying to talk up real estate in close..."
1. The individual thinks that harm is occurring, or is going to occur, to him or her.
2. The individual thinks that the persecutor has the intention to cause harm.
Paranoia
http://en.wikipedia.org/wiki/Paranoia
Harriet,
Can we take a poll?
How many posters on here believe that 2, 3, or even 4 HH posters on a single blog can talk up real estate in close..."?
Oh I don't think you and KH have a prayer of actually influencing the market... but despite that you seem to enjoy hanging out here and making absurd predictions over and over again even after your previous predictions were proven wrong...
Leroy said:
" even after your previous predictions were proven wrong..."
No they haven't. They've been 100% on target. You're just too short-sighted (and inexperienced) to understand that.
lance,
. . . and you'll prob. be dead from old-age before they come to pass.
It's on ebay.
a bunch of offerings
DVR Security capture cards for PCs. Or navigate on eBay to:
Listed in category: Consumer Electronics > Gadgets & Other Electronics > Surveillance > Surveillance DVR > 4 Channel
Expect to pay about $15 including shipping, $20 is OK. It's eBay so check out the vendor.
You'll need some "security cameras" These are not "web cameras" which have USB connections. You want the composite video style camera used for "security applications", about $10 for black and white and $30 for color.
One weirdness, the cameras tend to have RCA connectors on them, the PC cards are BNC connectors. Some cards come with adapters, some don't. The adapters are about $5 at Radio Shack. Since 4 adapters come to $20, it's worth looking for a card that comes with the adapters.
Some cameras come with IR illumination and can see in the dark. That's really fun.
These come with recording software that gives you full control. Command it to record only when something moves in the scene and keep recording for 1 minute.
An eBay security vendor may have a full package but watch the prices. The more you can do yourself, the lower the cost.
Watch out! A troll will claim that I'm a camera vendor and tricking BH into buying.
I saw your responses. Amazing, I mention that I have a passive, silent partner ownership of some real estate and suddenly, I'm a poor-man's Donald Trump, wheeling and dealing, scamming and hyping, as if anyone here is going to buy those holdings.
Passive. I inherited some. My family owns more. Gram, uncles, cousins. I kicked in some petty cash. None of it will likely EVER be for sale. Big whoop.
Like the example I cited, if someone had put the $4K down on a 22305 1/1 garden apartment that someone might live in it for 10 years, then wake up one day with a hundred sixty large, real estate has a way of sneaking up on you.
One Hundred Sixty Thousand dollars in equity after living in a place, granted a little small, for 10 years.
They could sell it now and rent if they wanted to.
That's as you say, shop wisely, pay attention, let time work for you.
"No they haven't. They've been 100% on target. You're just too short-sighted (and inexperienced) to understand that."
Right right...
We passed the bottom in 2007...
Subprime loans didn't prove to be a major issue because new risk models allowed lenders to charge appropriate risk premiums...
All ARM borrowers were qualified at the maximum possible payment rate...
And most importantly "those waiting on the sidelines" in 2006 saw their opportunity "slip away" ...
Give it a rest lance, you can't dig your way out of a hole.
"Some cameras come with IR illumination and can see in the dark. That's really fun."
Especially for watching your neighbors get robbed a gunpoint...
"Amazing, I mention that I have a passive, silent partner ownership of some real estate and suddenly, I'm a poor-man's Donald Trump, wheeling and dealing, scamming and hyping, as if anyone here is going to buy those holdings.
Passive. I inherited some. My family owns more. Gram, uncles, cousins. I kicked in some petty cash. None of it will likely EVER be for sale. Big whoop."
Ah... so it was lance that was lying when he tried to portray you as some kind of experienced and successful "investor."
"Like the example I cited, if someone had put the $4K down on a 22305 1/1 garden apartment that someone might live in it for 10 years, then wake up one day with a hundred sixty large, real estate has a way of sneaking up on you.
One Hundred Sixty Thousand dollars in equity after living in a place, granted a little small, for 10 years."
Heh, just one thread ago we had a whole discussion about how nutty it was that people had come to expect a huge financial windfall for simply living in a place for a few years. Sounds like you are the poster child for that philosophy!
That thread isn't too far down the page. It isn't too late to offer your insight on how "real estate has a way of sneaking up on you!"
lol
Seriously, do you think just MAYBE the bubble has something to do with your little scenario?
Oh wait, there is no bubble in close. There it is normal for people to makes tens of thousands of dollars per year just by living in a little 1/1 apartment...
Leroy...you need to sit back a bit - you are getting a bit emotional about this and are posting on the edge (crime maps). I agree with your assessments and I believe Lance has been wrong about the market. I also see KH's posts as being all over the place with no clear message.
I can see why are you getting frustrated. Don't fall into word games, just stick with facts only.
Just let it roll a little bit. I, for one, don't think you are paranoid. :)
"I can see why are you getting frustrated. Don't fall into word games, just stick with facts only."
You are right, there is little point trying to reason with people who aren't willing/able to be reasonable.
They say one thing one day... then another the next...
I think it is pretty clear how their predictions have played out.
The crime map was something I just stumbled onto. That really was a shockingly high amount of crime to me considering what some people paid to live in that neighborhood.
KH,
Thanks for the card and cam info and links!
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