Author Topic: When to recognize a sell opportunity  (Read 1082 times)

jinga nation

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When to recognize a sell opportunity
« on: August 09, 2017, 06:24:11 AM »
I'm not sure if this forum is the right place to post this:

https://www.bloomberg.com/news/articles/2017-08-08/baby-boomers-who-won-t-sell-are-dominating-the-housing-market

Sometimes people don't understand the opportunity to sell and are blinded by sentiment and nostalgia. With very little to zero understanding of market economics.
If I genuinely enjoy my profession and workplace, is there a reason to FIRE? Keep Calm and Carry On Milking.

Cwadda

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Re: When to recognize a sell opportunity
« Reply #1 on: August 09, 2017, 09:34:34 AM »
I think the article is a little hyperbolic. Sure, there's going to be a shortage of homes for sale in hot markets. But finding a home isn't a walk in the park, no matter the location. I looked on the MLS for over 70 hours, visited 10 different homes, wrote 5 offers, and emailed hundreds of homeowner leads before finding a house. No one said it'd be easy.

Zero Degrees

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Re: When to recognize a sell opportunity
« Reply #2 on: August 09, 2017, 05:47:01 PM »
Selling a home is also not a walk in the park. I thought I recognized the sell opportunity and it is backfiring on me.

tralfamadorian

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Re: When to recognize a sell opportunity
« Reply #3 on: August 09, 2017, 06:04:05 PM »
I think the article is a little hyperbolic...

Agreed.  In just a few minutes I found a dozen homes for sale in the specific neighborhood in the price range of the carpenter profiled in the article. 

Another Reader

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Re: When to recognize a sell opportunity
« Reply #4 on: August 09, 2017, 07:40:28 PM »
I'm not sure if this forum is the right place to post this:

https://www.bloomberg.com/news/articles/2017-08-08/baby-boomers-who-won-t-sell-are-dominating-the-housing-market

Sometimes people don't understand the opportunity to sell and are blinded by sentiment and nostalgia. With very little to zero understanding of market economics.

I ain't moving.  Nothing to do with sentiment or nostalgia.  And I have an excellent understanding of market economics, but market economics are irrelevant.  It's not my job to provide housing to the generations after me.  Why would I give up my low property taxes under Prop 13 and pay one hell of a lot in capital gains taxes to Uncles Sam and Jerry thanks to trading up before the rules changed?  I live in a one story house well suited to aging in place.  Many of my neighbors are modifying their houses to allow them to stay until the end.  In a lot of cases here, the kids will inherit the house and the low property taxes.  To the entitled generation, I say tell the politicians either to limit population growth or build what people want, low density single family houses with yards. 

BTW, if I did move, there would be one very high priced rental available.  Tax policy favors renting over paying extortion.  The heirs will be able to extend a raised middle finger to the greedy parasites in Sacramento and DC when the basis is reset when I pass. 

calimom

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Re: When to recognize a sell opportunity
« Reply #5 on: August 11, 2017, 02:14:41 PM »
Just because someone wants to buy your house it doesn't mean you have to sell your house. Kudos to the dude for wanting to buy property at a young age and house-hack with his roommate plan but he seems a bitů.entitled. Either look elsewhere or as another poster said, purchase one of the houses that is actually for sale.

I have an 80-something neighbor who lives alone in the house she and her husband bought new in 1976, just before Prop. 13 came into effect. She's outlived her husband, is quite content in her home. Even with her health problems, a caregiver comes in a few times a week, and meals are delivered. It's actually more cost effective for some to age-in-place than move to assisted living. Unless someone's house is unaffordable or dangerous, why should they move because someone wants them to?

clarkfan1979

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Re: When to recognize a sell opportunity
« Reply #6 on: August 20, 2017, 03:34:01 PM »
My wife's grandfather bought 6 acres of land in the neighborhood of Cherry Hills Village in Denver around 1965. Over the years many wealthy people have tried to buy the land with slightly over market bids. His response 100% of the time, "I'm sorry, but it's not for sale."

It's currently worth about 8-10 million. Was he foolish for rejecting multiple over market bids?


Capt j-rod

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Re: When to recognize a sell opportunity
« Reply #7 on: August 21, 2017, 06:16:13 PM »
I've been offered reasonable amounts of money for one of my rentals... The problem I have is for what I have in it and the returns that it generates, I can't replace it for the money offered. I am constantly on the hunt for more property. It takes time and patience, but most of all it takes a cash in hand offer to get a deal. If I used the bank's money then the deal would be gone before I got back from the bank. Then there are all of the inspections and strings attached to the bank loan. The sad part of the article is these people forget what ownership means... It belongs to them and they can do what ever they want with it. It's not always about money, there are a lot of memories in those houses.