Real Estate Crash thread

[MontuckyFried]

Got my work estimate for the rental repairs well under budget. Furnace and ducting took two days. They work fast.

装修内容与报价（第一期室内装修部分）：
• 卫生间的装修：
• 修理浴缸的漏水；
• 清理窗户，如外窗板有烂侧更换；
• 重新处理墙面；
• 浴缸周边的防水胶重新处理；
• 价格：人工费： $800.00;
• 新装暖气系统的装修工程：
• 新装暖气机在天花板上；
• 每个卧室和卫生间各新装1个出风口；
• 考虑到厨房和客厅面积较大且门窗较多保温较差侧新装3个出风口；
• 价格：包工包料：$2,800.00;
• 封掉地上的暖气出风口的装修工程：
• 封掉地上的暖气出风口；
• 尽量寻找相同的地板进行修补；
• 表面上色处理，尽量与旧地板相似；
• 价格：$500.00;
• 更换三扇外门的装修工程：
• 更换前总门、侧门及后门，
• 前门为仿木纹的合成材料的门，其他二扇是用铁皮的防盗门；
• 后门的地上的部分地板要换及油 漆；
• 侧门的边框有烂也要换；
• 价格：$1,000.00;
• 室内整体油漆的装修工程：
• 清理墙面；
• 修补墙缝；
• 上底油；
• 上面油，厨房客厅1种颜色、过道卫生间1种颜色、三个卧室1种颜色，所有天花板不油漆；
• 价格：人工费：$1,200.00;
• 室外整体油漆的装修工程：
• 用高压水枪清洗所有墙面；
• 修补墙缝；
• 上底油；
• 上面油；（包括后院的小仓库）
• 价格：人工费：$1,500.00;
• 朝马路的2扇窗加装花式窗边：包工包料：$400.00;
• 其他的装修工程：
• 修洗碗机：免人工费；
• 换调光开关；免人工费；
• 清理窗户：免人工费；如修理窗要花很多工的话再另行协商；
九、家修复浴缸的工程：人工费：$800.00;
装修工程的总价：$9,000.00;
装修的工程期限：10个工作日

Thank you, Google Translate!:

"Decoration content and offer interior (first part):
• bathroom renovation:
• repair bathtub leaking;
• Clean windows, such as the replacement of rotten side of the outer shutters;
• reprocess wall;
• bathtub surrounding the waterproof plastic re-processing;
• Price: labor costs: $ 800.00;
• newly installed heating system renovation works:
• The newly installed heaters on the ceiling;
• Each bedroom and bathroom newly installed an outlet;
• Taking into account the large kitchen and living room area and the doors and windows more insulation poor side of the newly installed three outlet;
• Price: contracting and materials: $ 2,800.00;
• sealing of the floor heating vent renovation works:
• sealing of the floor heating vent;
• Try to find the same floor repair;
• surface color treatment, similar to the old floor as far as possible;
• Price: $ 500.00;
• Replace the renovation works of the three exterior doors:
• Replace the front the total door, side door and back door,
• The front door to door graining and synthetic materials, and the other two with iron security door;
• The back door of the ground floor want to change and paint;
• The side door of the border rotten must change;
• Price: $ 1,000.00;
• Indoor overall paint renovation works:
• Clean the walls;
• Repair Qiangfeng;
• on Diyou;
• The above oil, the colors of the kitchen, living room, hallway bathroom colors, the colors of the three bedrooms, all ceiling paint;
• Price: labor costs: $ 1,200.00;
• Outdoor overall paint renovation works:
• Use high-pressure water jets to clean all wall;
• Repair Qiangfeng;
• on Diyou;
• The above oil; (including the backyard of a small warehouse)
• Price: labor costs: $ 1,500.00;
Two windows towards the road to install the fancy window: labor and materials: $ 400.00;
• other renovation works:
• repair dishwasher: Free labor costs;
• change the dimmer switch; the Free labor costs;
• Clean windows: Free labor costs; repair window takes a lot of work, then be negotiated;
Bath home repair project: labor costs: $ 800.00;
The total price of the renovation works: $ 9,000.00;
Renovation project deadline: 10 days"

Google's only failure was misspelling the "L's". I think it should have been "rabor costs."

[liv2ski]

^^^^That is amazing. I had no idea Google would do translation that well

[Bobby Finstock]

Thank you Ben Shalom!!

http://www.federalreserve.gov/newsev.../20130130a.htm

"Committee will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will purchase longer-term Treasury securities after its program to extend the average maturity of its holdings of Treasury securities is completed at the end of the year, initially and longer-term Treasury securities at a pace of $45 billion per month. The Committee is MAINTAINING ITS EXISTING POLICY of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and, in January, will resume of rolling over maturing Treasury securities at auction. Taken together, these actions should MAINTAIN DOWNWARD PRESSURE on LONGer-term INTEREST RATES, SUPPORT MORTGAGE MARKETS"

[Benny Profane]

When it comes right down to it, Ben's probably the biggest housing bear out there.

[chatton18]

Thank you Ben Shalom!!

http://www.federalreserve.gov/newsev.../20130130a.htm

Thanks for updating us on Thursday's news that THINGS ARE STAYING EXACTLY THE SAME, just as as everyone expected. Yet, the market had another down day today. Perhaps continued soft policy has to do with the negative real GDP print we got on friday. Yes, I know that if adjust for cuts in govt spending and reduction in real inventorys, we would've been positive, but the fact is we will be dealing with these issues, particularly on the govt side for years to come.

What is worth noting is that mortgage rates are starting to rise.

[meatdrink9]

A few pages back I said I'd post photos of the bar interior... Well here they are:

http://www.facebook.com/media/set/?s...1&l=94a87544d7

We're still waiting on the bottle display from the welder and a few other odds and ends but you get the idea.

Here's a link to photos of the roofdeck portion of the bar:

http://www.facebook.com/media/set/?s...1&l=c7814880b0

The health department just cleared us today. Just a couple of loose ends to tie up and we'll be ready for private parties and special events, but still in Utah liquor license limbo for a few more months.

[cramer]

A few pages back I said I'd post photos of the bar interior... Well here they are:

http://www.facebook.com/media/set/?s...1&l=94a87544d7

We're still waiting on the bottle display from the welder and a few other odds and ends but you get the idea.

Here's a link to photos of the roofdeck portion of the bar:

http://www.facebook.com/media/set/?s...1&l=c7814880b0

The health department just cleared us today. Just a couple of loose ends to tie up and we'll be ready for private parties and special events, but still in Utah liquor license limbo for a few more months.

Looks sweet man. Thanks for sharing.

[Bobby Finstock]

Thanks for updating us on Thursday's news that THINGS ARE STAYING EXACTLY THE SAME, just as as everyone expected. Yet, the market had another down day today. Perhaps continued soft policy has to do with the negative real GDP print we got on friday. Yes, I know that if adjust for cuts in govt spending and reduction in real inventorys, we would've been positive, but the fact is we will be dealing with these issues, particularly on the govt side for years to come.

What is worth noting is that mortgage rates are starting to rise.

Nigga puhleeze. GDP, fiscal cliffs, foreclosures, unemployment...blah..blah...blah...None of that crap matters to Wall St shitbags.

As long as Ben Shalom continues printing equities and housing prices will continue to melt up. DONT FIGHT THE FED!!!

[Bobby Finstock]

Frip ovah...

[supermodel159]

Things are getting crazy around Eagle County. A month ago, I bid $177,000 (over 5% above) on 105 year old house listed for $168,000. Closed today for $186,400 cash.

Next one under $300k on the market listed for $249,900. I bid $250, someone else bid about $20k more. There's no supply at all in this price range (ie- shit people can afford post-bust) but it appears we've got a good ol' fashioned irrational market on our hands! If you own a $100k old house in Eagle now, list it for $150, sell it for $170!

Borrowed money is basically free right now, so people are able to get larger loans and pay more...

[4matic]

House next door sold first day @ $65k over ask price; $405k. Asian buyer. My fixed up short sale across the street was realtor appraised at $350k. It looks great. I'd sell it now but the girlfriend wants to rent it for her parents.

Fresh exterior. Landscape soon.



Interior



Kitchen


girlfriend

[13]

That's worth $350k in your neck of the woods? My god.

Fuckin' California.

[Bobby Finstock]

The land of fruits and nuts. I miss home. Not really.

[Hugh Conway]

That's worth $350k in your neck of the woods? My god.

Fuckin' California.

Move that place to a really nice neighborhood in the Bay Area and it'd be double that.

[Huck_Schmuck]

Close to a million dollars in Vancouver. Seems to have great feng shui so it would probably go over that ;-)

[MontuckyFried]

That's worth $350k in your neck of the woods? My god.

Fuckin' California.

Seriously. Those tards deserve another RE bubble/crash, and another, and another. I think I've seen that happen to them at least half a dozen times in my short lifetime.

Random Californian: "Only half a mil for a dump plus a 50 year mortgage? What a deal! I'll take 2! Then I'll sell them for a million a piece to another sucker, then move to another state so I can quasi-retire, buy 4 houses and wreck their local markets, too!!! I heart bidding wars and pricing locals out of their own areas!"

[Hugh Conway]

I think I've seen that happen to them at least half a dozen times in my short lifetime.

Try again dumbfuck.

[MontuckyFried]

^^
Mister Conway presumably lives in CA, and is probably just like the "Random Californian" I quoted.

[Hugh Conway]

^^
Mister Conway presumably lives in CA, and is probably just like the "Random Californian" I quoted.

Free markets a bitch when you are on the bottom isn't tranny who moved to montana and priced out the locals in your BMW?

If you'd paid even cursory attention you'd find I think CA real estate assininely priced at the moment on most any scale.

[cramer]

Seriously. Those tards deserve another RE bubble/crash, and another, and another. I think I've seen that happen to them at least half a dozen times in my short lifetime.

Random Californian: "Only half a mil for a dump plus a 50 year mortgage? What a deal! I'll take 2! Then I'll sell them for a million a piece to another sucker, then move to another state so I can quasi-retire, buy 4 houses and wreck their local markets, too!!! I heart bidding wars and pricing locals out of their own areas!"

LOL, you obviously havent spent much time out here. Theres a reason the bay area has 10mil and southern california has 20mil. Its fucking nice, hehe. People pay to live here for a reason.

[iceman]

I must say the progression on the gf pics is going well. Out in the dining room with a glass of wine, then in bed in her undies...enquiring minds want to know, what's next???

[supermodel159]

LOL, you obviously havent spent much time out here. Theres a reason the bay area has 10mil and southern california has 20mil. Its fucking nice, hehe. People pay to live here for a reason.

Exactly. It is fucking great here...although it snowed in Santa Barbara last night.

[Bobby Finstock]

Uh-oh. Is Ben Shalom thinking about landing his helicopter?

Fed doubtful on open-ended QE3 policy

By Robin Harding in Washington and Claire Jones in London

The US Federal Reserve is cooling on open-ended asset purchases as officials grow nervous about the dangers of a bigger balance sheet.

According to the minutes of its January meeting, released on Wednesday, “many” officials are concerned about the costs and risks of further asset purchases, as the Fed buys securities at a pace of $85bn a month.

The minutes suggest that QE3 – as the Fed’s third round of quantitative easing is known – could end earlier than previously thought and is no longer a truly open-ended programme. The Fed’s balance sheet has reached $3.078tn and could exceed $4tn if QE3 continues for the rest of the year.

Launching QE3 last September, the rate-setting Federal Open Market Committee said it would keep buying assets until there was substantial improvement in the labour market. The goal of asset purchases is to boost the economy by driving down long-term interest rates.

But according to the minutes, “a number of participants stated that an ongoing evaluation of the efficacy, costs and risks of asset purchases might well lead the committee to taper or end its purchases before it judged that a substantial improvement in the outlook for the labour market had occurred”.

That could reduce the support that QE3 provides to the economy because markets can no longer be certain that the Fed will keep buying assets until the labour market recovers.

[chatton18]

Uh-oh. Is Ben Shalom thinking about landing his helicopter?

Cool picture nobody here has seen it before, let alone posted by you.

Also, The Bernank ain't cutting QE3, just have to wait to see who Barry nominates for the next term in a year.

[Hugh Conway]

chatton's here! Junior analyst insight represent!