5 Condos for under $22,000.00

Gee...and to think that 5 years ago a few of the "500sf" condo-boxes in this complex were purchased for upwards of a quarter-of-a-million bucks (a quarter of a million bucks!!).

My guess is (nay, I'm absolutely, positively 125% sure) the hapless buyers were told "now is a great time to buy."

On the plus side...we can pretend that time never happened.



.

Gee...and to think that 5 years ago a few of the "500sf" condo-boxes in this complex were purchased for upwards of a quarter-of-a-million bucks (a quarter of a million bucks!!).

My guess is (nay, I'm absolutely, positively 125% sure) the hapless buyers were told "now is a great time to buy."

On the plus side...we can pretend that time never happened.



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WRONG, god I love saying that to SHELLY.

The owner bought these years ago and had nothing to do with the boom or bust, just stubborn I guess.

WRONG, god I love saying that to SHELLY.

The owner bought these years ago and had nothing to do with the boom or bust, just stubborn I guess.

Back up the truck, Skippy. The comment said: 5 years ago "a FEW OF THE "500sf" condo-boxes in THIS complex sold for a 1/4 mil" (not these condo-boxes in particular)

....swing and a miss.

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Back up the truck, Skippy. The comment said: 5 years ago "a FEW OF THE "500sf" condo-boxes in THIS complex sold for a 1/4 mil" (not these condo-boxes in particular)

....swing and a miss.

.

Does anyone know what these units actually sold for?

yes

Could you list a price?

Could you list a price?

yes, I could!

Shelly-

Why do you keep refering to them as hapless buyers? These are grown ups for god's sake, they had a choice to buy or not to buy, regradless of what a real estate agent or anyone else told them. It's getting old hearing the same old thing.

Shelly-

It's getting old hearing the same old thing.

...you mean the phrase "Now is a great time to buy??" I agree.

.

now is a great time to buy

now is a great time to buy

And if you believe what NAR sez...so was 2004, 2005, 2006, 2007, 2008, 2009, and so too will be 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028...not too sure what they'll say after the Cat 6 hurricane of 2029 though--check back then, but I'll bet the farm in 2030 they'll say "Now is a great time to buy" as well.

Oh...and in 2060--for all those folks who are snapping up JOE shares on Monday at $20 a copy, then will be a "Great Time to Buy" also....but by then, most of us will be dead anyway.

.

And if you believe what NAR sez...so was 2004, 2005, 2006, 2007, 2008, 2009, and so too will be 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028...not too sure what they'll say after the Cat 6 hurricane of 2029 though--check back then, but I'll bet the farm in 2030 they'll say "Now is a great time to buy" as well.

Oh...and in 2060--for all those folks who are snapping up JOE shares on Monday at $20 a copy, then will be a "Great Time to Buy" also....but by then, most of us will be dead anyway.

.

?? Shelly, you're now starting to sound and type, like the investulators did in 2004, and in 2005.

I'd just like to congratulate SHELLY for being the longest running troll on sowal.

It is always a great time for someone to sell or buy something. Individuals have to make that decision, they cannot blame anyone else on their decisions and motivations. If they do not do the research, and make careful thougthful decisions they have no one to blame but themselves. Not realtos, not some TV Star hawking goods, not their inlaws.

Shelly-

I actually meant the phrase "hapless buyers" that you keep throwing out there in case you were wondering.

I'd just like to congratulate SHELLY for being the longest running troll on sowal.

..then why the hell am I not in the "Top 10 Most Thanked Posts" list....why?....why, I ask!!!(*sniff*)

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..then why the hell am I not in the "Top 10 Most Thanked Posts" list....why?....why, I ask!!!(*sniff*)

.

I say now is a good time to thank Shelly! I thank you for teaching me to never use the term, "now is a great time to buy." I also find myself smiling when I hear other people use it.

shelly since you're the worlds greatest investor if you have a stock porfolio then please show us your 30% yearly returns. i'm sure much of your bittterness comes from getting killed in real estate or the stk mkt.

shelly since you're the worlds greatest investor if you have a stock porfolio then please show us your 30% yearly returns. i'm sure much of your bittterness comes from getting killed in real estate or the stk mkt.

...bitter? Moi? Pragmatic, prudent, practical, perspicacious, punctilious--probably. Stock portfolio doing just fine this year (so far), thanks for asking.

Picked up many stocks for their great dividends after the crash at ridiculous bargain prices--names you would know include: McDonalds, CAT, Microsoft, Southern Company, Apple, Intel, Exxon, Coke, Altria, etc. a little GLD for a hedge and a high-yield corp bond fund. Ditched Pfizer that I got for dividends before they cut the dividend and took some money off the table in CAT, CLX, HNZ and the bond fund. (Note the absence of JOE, I don't short stocks--it's too time-consuming). I've also got some Total Market & Total International Mutual Funds for ballast. That's some of the portfolio--one that I'm comfortable with based on my age, risk tolerance and stead in life.

I think the market's a bit toppy given the high unemployment rate and some of these stocks are bumping their 52-week highs, but with the Fed adding some more money to the mix I expect we'll end the year on this high-note. Still got about 25% in cash, haven't added much in the last month or so, I'm waiting for the next pullback or flash-crash (I was actually onboard a cruise ship in the Pacific and watched on TV as the flash-crash happened (very exciting!)--otherwise I would have scooped up a few more shares that day).

Individual stocks SHOULD NOT be purchased by folks who:

don't have a 8-12 month emergency fund;
carry a monthly balance on their credit cards;
don't have adequate life/disability/medical insurance;
have high-interest car loans;
don't have a fully-funded 401K/ROTH IRAs in broad market index funds;
don't have at least a 5-year horizon for the invested cash;
and don't have a slush fund to use for fun vacations, experiences and adventures with their families each year.

Even with the most conservative, dividend-paying blue chips, the risk is too high if you have all that other stuff hanging over your head. The way I look at investing in stocks (or any investment vehicle), with all the above elements in place--and after doing due diligence--I simply ask myself, "Can I afford to lose all this money and still maintain my lifestyle?" If the answer is "yes," then I'll pull the trigger.

Each investment decision is personal based on one's age; responsibility to family & creditors; and the amount of risk one can take on and still sleep well at night. That's why I cringe when I hear a salesman (Realtors, Brokers, Car Salesmen) tell clients "Now is a great time to buy!!" How the hell can that be said (and really be true) when that salesperson knows absolutely nothing about client's financial standing and personal responsibilities.

I know when folks recommend stocks/investments on this message board they "assume" folks reading this stuff are of equal financial footing to themselves--I know for a fact that is not true. I've had numerous people ask me for financial advice that I could not provide in good faith without reviewing highly personal and sensitive financial information.

I do, however, like to challenge people who give investment advice be it stocks, commodities, MLMs or real estate. That way, readers can hear both sides of the argument; if it raises questions in their own minds or causes them to research the investment idea further my job is done.

...and, no, Ray--I didn't get killed in the RE market or the tech wreck. As a matter of fact, when all those around me were snapping up stocks during the dot-com era (and subsequently lost their shirts), I heeded the warnings of Warren Buffett and John Bogle who pointed out that these $350-per-share dot-com companies were nothing more than leased office spaces with a computer and foosball table bringing in $0 in profits--they warned, stay away at all costs...and I did...and they were right. When I saw the same type of bubble happening in RE, alarm bells went off (i.e., $250K for 500sf 1978-era studio apartments??? get real!!). So I watched the whole mess bubble up and collapse. Same song, different melody. I did own some rental RE in the 80s and sold it at a decent price, but then again, holding costs in Florida were laughable. Now my only RE holding is my private home, bought and paid for outright. Bitter? Not at all.

(Now, back to slinging hash at Waffle House--my break is over).

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I say now is a good time to thank Shelly! I thank you for teaching me to never use the term, "now is a great time to buy." I also find myself smiling when I hear other people use it.

...an angel just got his wings!

I understand the RE markets are turning around faster in California than in Florida...good luck on your brighter future.

Shel.

Individual stocks SHOULD NOT be purchased by folks who:

don't have a 8-12 month emergency fund;
carry a monthly balance on their credit cards;
don't have adequate life/disability/medical insurance;
have a high-interest car loans;
don't have a fully-funded 401K/ROTH IRAs in broad market index funds;
don't have at least a 5-year horizon for the invested cash;
and don't have a slush fund to use for fun vacations, experiences and adventures with their families each year.

Even with the most conservative, dividend-paying blue chips, the risk is too high if you have all that other stuff hanging over your head. The way I look at investing in stocks (or any investment vehicle), with all the above elements in place--and after doing due diligence--I simply ask myself, "Can I afford to lose all this money and still maintain my lifestyle?" If the answer is "yes," then I'll pull the trigger.
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Thank you SHELLY, for making me a bit less hapless. The above is the best simple investment advice I have ever heard, and I really wish somebody would have said it to me a long time ago. I think it also applies to buying a home. I listened to everyone else, spent everything I had and bought when it was "a good time to buy" (not for me!) and it is only through incredible luck and actually selling when NOTHING was selling that I am not now carrying huge debt. Starting over with nothing at midlife is difficult enough, digging myself out of a giant hole and then starting over would be too overwhelming for me to even fathom right now.

I would expect nothing less for you to have bought the lows in 2009 and bought before the exact bottom. many stocks went down 90%,the end of the world was here, and mr/mrs negative bought stocks? i say the chance of that are not 1% but ZER0.i promise you with your massive negativy if you actually ever have bought a stk in your life you would have scared out in days or you would actually have taken a 5% or less profit scared to death the mkt was going to zero. why i know your fibbing is i assure you no person as negative as you would ever hold stks up huge 1 1/2 yrs.Take it from a person who knows more in 1 finger about the market than you'll ever know. and your hero buffet
was going to wiped out if our dishonest gov't didn't pour trillions into the mkt

I would expect nothing less for you to have bought the lows in 2009 and bought before the exact bottom. many stocks went down 90%,the end of the world was here, and mr/mrs negative bought stocks? i say the chance of that are not 1% but ZER0.i promise you with your massive negativy if you actually ever have bought a stk in your life you would have scared out in days or you would actually have taken a 5% or less profit scared to death the mkt was going to zero. why i know your fibbing is i assure you no person as negative as you would ever hold stks up huge 1 1/2 yrs.and your hero buffet
was going to wiped out if our dishonest gov't didn't pour trillions into the mkt

...my, my, my--thou doth protest too much.

Take it from a person who knows more in 1 finger about the market than you'll ever know.

And from the vibe I'm getting from your post, I can guess with 100% accuracy which finger that is.



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Thank you SHELLY, for making me a bit less hapless. The above is the best simple investment advice I have ever heard, and I really wish somebody would have said it to me a long time ago. I think it also applies to buying a home. I listened to everyone else, spent everything I had and bought when it was "a good time to buy" (not for me!) and it is only through incredible luck and actually selling when NOTHING was selling that I am not now carrying huge debt. Starting over with nothing at midlife is difficult enough, digging myself out of a giant hole and then starting over would be too overwhelming for me to even fathom right now.

I saw too many good folks get crushed financially during the RE frenzy (even though I tried my darnedest to convince them to slow down and think things through). Their only mistake was putting all their trust into people who passed themselves as "consummate professionals" in their fields (some Realtors, Mortgage Brokers and others of their ilk) when in reality these "pros" were run-of-the-mill commissioned salespeople who have no fiduciary responsibilities to their clients whatsoever--think car salesmen.

I'm so glad you were able to get out with your finances still intact and are alert to the folly of the salesmen's siren song of "Now is a Great Time To Buy."

.

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...an angel just got his wings!

I understand the RE markets are turning around faster in California than in Florida...good luck on your brighter future.

Shel.

It looks like it Shel. But... This time around my crystal ball is broken. Sell the property not the future.

Bobby J