Watching former home price go up and up

If you need a large place, you need a larger place. Did you rent or buy another apartment after you sold your old place? Probably not the later.

You cannot always win but you are lucky you haven't bought at pick price. I would not torment myself over a decision that was financially right when you sold. and as the previous post "If you need a large place, you need a larger place".

if you sold this year, would would also have had to buy this year as well. meaning you would have paid more, negating any gain you would have had from the higher sale price, no?

i know its human nature to agonize over past decisions, but i wouldnt worry too much about it.

Thanks for the good feedback. We did buy but a total fixer upper which took forever to close, and gut renovation has not begun yet. We were in contract to buy before the major surge, so I don't think we way overpaid though it will be a big cash outlay for the renovations. So we're renting a place (the same size we sold) for now as we expected it to just be a few months of renting initially. The place we bought will only be a little bigger but allows for the third bed in a comfortable way with still having common space. It's the same general area of Manhattan but not in as good a micro neighborhood/building (depending on your perspective) so I'm lamenting that too thinking we should have just squeezed or cut it up though squeezing wasn't working all that well for family harmony in our case.

Noob is right, I'm agonizing over past decisions (basically each decision along the way).

Thanks.

Like the stock market.

When prices are going up, you kick yourself for not buying enough.
When prices are going down, you kick yourself for buying too much.

How about regretting not buying sprint when it was at $2.4/share but instead buying in LiC with 30x leverage in 2007 and making 0% return?

How about understand that mortgages went form 5.5% to 3% and your POS re regret only went up $200k? When on an $2mm the delta on PV is $680k? So seller got 1/3 bennie, buyer got 2/3 Bennie from falling rates. So still a buyer mkt.

Like an inbred marriage, where a guy regrets marrying the 3 fingered first cousin versus the 4 fingered 2nd cousin. There a whole world of ladies outside in the real world, if your goal is a hottie.

$$$$$$$$ or a home? Which is it.

Like a rear facing sonar with 2 degrees of view. What's the point?

Never mind. Why would ppl be fascinated with Black Sea pearls or tulips? All bubbles are based on a smidge of actual 'value' and 99% greed. You might as well tell every women that they can make money on their engagement rings, it's an inflation hedge, a rainy day fund, you can leverage 30x off of it, govt will subsidize the interest, first $500k cap gain is free and it's your retirement!

Can you imagine the size of the diamond rings every women would walk around with? LIC is like the nube who bought into the craze, but didn't have enough money so they bought a topaz ring.

Just remember your buyer got a good buy but so did you. You bought your place just before the market surge too. Even though it's a total gut once you finish and move in and have the room you desperately needed, you will be happy. Don't look back. What's done is done. The old space didn't work for you which is why you sold. Just because it's now worth 200K more, it didn't get bigger and still wouldn't work for you. The apartment is still the same size and your kids would have had to share a bedroom and complain about the lack of privacy and space and whatever teens complain about.

w67s wife was "touched by thousands". How many of those ppl had 3 or 4 fingers?

All those people's middle fingers were reserved for you.

OP, your focus of regret should be the transaction costs. They're killer.

Rent with cap rates below 1% better off

HB swithing up on us again?

Of course. He wants to reveal his not-so-inner asshole and doesn't want Greenberg to be greyed out.

I sense that he's an angry little troll right now. Soon he may mention toilet seats. He's already brought up the peopled touched by w67th's doctor wife.

You're getting worked up over that? Heaven forbid you ever face some real money with "I coulda done this or that". Crap, its not like your choice should have been based on the money.

Here's the thing I've always found entertaining about the salivating-for-bubble owners here. When my enough-to-rent-for-life investment slush fund doubles in the market, I can rent a 2x nicer place for the same fraction of my money.

But what happens when the great bubblehead dream of the $1M 1BR hitting $2M overnight is realized? Your $300K equity is now $1.3M, but are you any closer to that 2x-better apt? You used to need a $1.7M loan to cover the gap between the $300K you had and the $2M you needed. Now you got $1.3M of equity, 4.3x the original, but it'll cost you $200K to transact and you're down to $1.1M. Still 3.7x the original, you're rolling in it right? Except now the 2x-nicer place is at $4M and you're now a $2.9M loan away from it.

Oops. Even if you "win", isn't it a Pyrrhic victory?

So Nada, you think Paulson is wrong? What are you going long on these days?

http://www.businessinsider.com/john-paulson-delivering-alpha-2013-7

>I sense that he's an angry little troll right now. Soon he may mention toilet seats. He's already brought up the peopled touched by w67th's doctor wife.

Hi Abputready. Did you get your refill yet? How fast do you go through a regular 30 day supply?

Troll.

Thief

The fact that you had to move your family from an apt you owned to a rental apt is probably creating a very stressful situation. You're now looking back and questioning your decision. That's quite normal. Once you settle into your new apt after it's renovated your wife will get to feather her nest again and things will be back normal and you can find something else to worry about or regret.

You made a choice based on your options at the time. And it sounds like it was the right move. Your kids needed separate bedrooms. Your old place did not accommodate that. The new place does. Stop second-guessing. You did good.

Beat yourself up does not do anyone good. The past is the past. My dad used to say water under the bridge. Move on and be thankful you have two wonderful children.

Aael921, This sounds like a silly post for one simple reason. Your decision to sell was based on your children sharing a bedroom and not based on whether the home would appreciate or depreciate in value, but even though you've accomplished that goal, you are kicing yourself because of the missed appreciation. The sale of your former apartment accomplished its goal, I assume you are now in a larger unit. If you wanted to maintain exposure to the real estate market you should have decided to purchase another unit, but you should not criticize a decision that accomplishes the goals you set up.

Are you saying your goals were wrong? You should re-list/rank what youar objectives were.

1) Have separate bedrooms for the kids
2) Have real estate exposure

If #1 is true and #2 is false, you are done,
If #1 is false but #2 is true, you should have stayed,
If #1 is true and #2 is true, you should buy a larger unit

Lots of silly post on SE talk

look at it this way - you generated a lot of value for others at your expense - you paid 2 brokers very well, and you paid lots of taxes that we all are thankful for. does that make youfeel better?

What about all the time wasted to... And that time worrying about it time is money

too

>> So Nada, you think Paulson is wrong?

If he's talking about $200K homes in AZ renting for $1500, I think he's right. If he's talking about $6M homes in NYC renting for $15K, not so much. Hard to tell which one, but I'd guess his bets are more on middle America rather than 1%er homes. One thing is for certain, though: telling you to buy a home is the "best investment" an individual can make on behalf of pushing up his RE fund.

Heaven knows he needs the help. Paulson Gold Fund: 2011 down 11%, 2012 down 25%, 2013H1 down 65%. Down a cumulative 77% in 2.5 years. Paulson Advantage Plus Fund: 2011 down 51%, 2012 down 19%, 2013H1 up 3%. Down a cumulative 60%.

Sorta interesting that you put him out as some sort of infallible investor that a person would be unwise to disagree with.

>> What are you going long on these days?

My personal net worth is about 50% equities, 30% alternative, and 20% cash. Most of stock position is carried over from prior years, effectively an index, with 2013-vintage additions being INTC, GLW, and AAPL.

So how about you, how are you planning on translating a much-desired doubling of your home price into an improvement to your living situation?

ahart hits it--op misses

got out and back in pre-"surge"--no pain

got killed on transaction costs

lament that

if paulson's your guru, brace yourself--one-trick pony cant run no more

Nada take em to school again

Inonada....... Inotodo ....

Nada: where did I say Paulson was infallible? Or unwise to agree with? Obviously I mentioned him because he was so bearish on RE before and made billions of his call on it. Not sure what you are talking about in terms of improvement in living condition. I bought last year, pay about 65% a month of what I did, price up 25% or more than 100% of what I put down. And I love where I live. So pretty happy with that.

On market I am up 20% this month (or was before today). I have been enjoying watching my NFLX, F, BA, WFM, and a bunch of financials. Recent additions include ABX, EWZ, and lots of LINE (which is scary). Wishing I had sold my AMD, GOOG and LNKD yesterday. But just bought some long positions on AMD. Although I also do like RE and have TOL and RLGY.

Didn't you buy AAPL? You were supposed to have bought AAPL.

>> Not sure what you are talking about in terms of improvement in living condition.

I'm asking how you think an increase in RE prices will help you out in terms of improving your housing. Say you live in Williamsburg in a 800 sq ft place, I dunno, and prices go up 2x. Maybe 800 sq ft in Williamsburg is the pinnacle for you, but maybe you'd really like 2000 sq ft in Manhattan. Assuming the latter, how does the doubling of prices help you out? Why does it make you happy?

That's what I'm asking.

HahahahhhannhahhahHhahhahhahahahhahahahjnaaaaaaaahaaaaaaa.

They are on 'Team RE'. They don't understand the stupidity of wishing RE to double each year as their needs change, and how that can only be accomplished (if their take home is not 4x/yr to keep pace) if at their 'downsizing' yr (becoming empty nesters and selling their 4bdrm $10mm 120th street walk up ) the prior year had a 200% increase in nyc re.

Well that's like w67 wishing apple to hit $780 by next April. Then $1,560 the following April and then $3,120 in April 2016!

What baffoons. Go team RE. Get the timing right.

Team RE. Made up of people who can't earn and/or get promoted to a better standard of living.

'Son, sit on that sofa. Riches will befall you as long as you put 5% down!' Thanks Mom! When's your open house this weekend?

Anyone see Aboutready the past couple days? Anyone know if she got her prescription refilled?

>inonda

I don't know what you tried to prove by your little calculation... For sure, if you sell real estate to buy real estate, if you stay in the NY area, you are not going to improve your situation, you are just going to loose 10%... No need for lengthy calculations...

So you go into your calculations and only demonstrate that thanks to the mortgage, you can leverage yourself, and earn 370% when the market only takes 100%... Let s say stocks and real estate move in sync, investing everything in stocks you would have 600k at the end, not 1.1M... So it s an extra 500k that you can use to improve you standard of living over what you could have afforded if you had invested in stocks...
Besides you forget a couple of things. If you rent, you rent can skyrocket every year (we all know somebody whose proposed new rent was 130% of the previous one), forcing you to move, to pay brokers fees, to find a new place, to physically move and hire a moving company... It s a mess and has a big value in itself (security and stability). Also, if the place is yours, you can invest in it and enjoy the improvements (renovate it to your taste, modify the layout to your needs, ...). You will never have everything you want and like in a rental.

and the beat goes on.....

go team real estate!

>> I don't know what you tried to prove by your little calculation

I wasn't trying to prove anything. I was just asking a simple question. I understand why developers of RE get happy when prices go up. I don't understand why consumers of RE do.

>> So it s an extra 500k that you can use to improve you standard of living

How exactly can you use any of it? That's what I'm asking.

>> You will never have everything you want and like in a rental.

Yes, I know. The indignity:

http://streeteasy.com/nyc/rental/888165-townhouse-247-central-park-west-upper-west-side-new-york

http://streeteasy.com/nyc/rental/1067013-condo-25-columbus-circle-lincoln-square-new-york

http://streeteasy.com/nyc/rental/1083389-condo-15-central-park-west-lincoln-square-new-york

columbiacounty
about 1 hour ago
Posts: 12156
Member since: Jan 2009
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and the beat goes on.....

Do they have drums in C0lumbia C0unty?

why would someone from hunters stein greensdale von schmirnoff post on a NYC real estate site? why? whY?

>von schmirnoff

Sounds good, can I have a glass? (please do not give a glass to Aboutready, it does not go well with her prescriptions)

but that's not an answer.

why do you post on a NYC site?

why would someone from hunters stein greensdale von schmirnoff post here?

why?

>von schmirnoff

Von Shmirnoff, so refreshing! May I have a glass please?!

Why would someone from hunters stein greensdale von schmirnoff decide to post on a NYC real estate forum?
What possible business does he possibly have here?

Mmmmm, a glass of Von Schmirnoff, bitte

Come on, just one swig, I'll put my fingers over the opening so my lips don't touch the bottle, come on.

are you and the novice getting it on?

Yes, come over now

why would i want to watch you and the novice?

what would anyone want to have anything to do with either one of you?

Watch?

where are you?

at her place. Come over now

an invitation with no address?

typical of you.

bullshit.

>an invitation with no address?

At her place you idiot. Don't pretend you haven't been there many times.

... oh, I get it, ok, no, you've never been there, I'll text you.

I'm getting an error message when I use your 347 number. Should I use the 518 number?

A few more feet or inches doesn't excite me Nada. If you think bigger correlates to happiness try super sizing your happy meals or listening to your dates.

Broader point was you can have your cake and eat it to, but - clearly given your gibberish - no point having a discussion with a fundamentalist.

Uh, I just called the 518 number and your sister answered. Awkward.

>A few more feet or inches doesn't excite me Nada.

Ottawanyc, are you saying that inoitall is short?

>> A few more feet or inches doesn't excite me Nada.

Got it, 800 sq ft in Williamsburg is the pinnacle for you. Simplicity, I can dig it.

So why does an increase in RE prices excite you? You never answered that.

>> If you rent, you rent can skyrocket every year

OK I can get that, you get all happy if rents go up beyond inflation. You feel vindicated for locking in your costs, etc. Miller Samuel has rents flat for the past 7 years, but let's put that aside.

But how does increasing RE prices (or rents for that matter) help you out in improving your lifestyle?

>Miller Samuel has rents flat for the past 7 years,

Your point to net buyers about rising prices is well put, but you lose credibility when you say rents have been flat.

>> If you think bigger correlates to happiness try ... listening to your dates.

Well, that's a revealing comment. Awkward...

Anyhoo, I don't know how they do it where you're from, but not really a topic of discussion in my world.

>Anyhoo, I don't know how they do it where you're from,

Oooh, what will The_Tourist have to say about this? Or Truth's snaggle-toothed friends in England and smelly friends in France?

Thanks for the compliment, HB.

On not liking flat rents, maybe you should take it up with Miller Samuel.

Year Quarter Studio 1 Bedroom 2 Bedroom 3 Bedroom 4+ Bedroom All
2013 1 2,338 3,199 4,646 6,646 3,175
2012 4 2,316 3,450 4,570 6,834 3,189
2012 3 2,375 3,200 4,295 4,895 5,795 3,100
2012 2 2,395 3,250 4,298 5,295 6,800 3,125
2012 1 2,350 3,195 4,500 5,815 9,660 3,100
2011 4 2,350 3,195 4,533 6,159 7,748 3,145
2011 3 2,200 3,098 4,095 6,295 19,000 2,995
2011 2 2,075 2,995 4,095 5,295 6,675 2,896
2011 1 2,200 2,970 4,300 5,998 12,000 2,895
2010 4 2,250 3,000 4,395 5,435 11,500 2,950
2010 3 2,195 2,950 4,250 5,233 6,195 3,000
2010 2 2,100 3,000 4,499 6,698 9,100 3,000
2010 1 2,048 3,000 4,645 6,829 12,500 3,100
2009 4 2,100 2,850 4,700 6,588 11,500 2,900
2009 3 2,000 2,895 4,700 6,800 12,000 2,950
2009 2 2,000 2,795 4,550 7,673 14,700 3,100
2009 1 2,150 3,000 4,995 7,850 14,500 3,300
2008 4 2,295 3,185 4,700 8,000 20,000 3,200
2008 3 2,395 3,250 4,795 7,145 22,500 3,195
2008 2 2,450 3,220 4,795 8,000 15,000 3,200
2008 1 2,350 3,195 4,948 8,000 23,500 3,200
2007 4 2,300 3,200 4,995 6,695 12,500 3,200
2007 3 2,295 3,250 4,895 7,250 10,500 3,200
2007 2 2,275 3,220 4,630 6,530 13,625 3,195
2007 1 2,250 3,195 4,800 7,500 12,900 3,264

>On not liking flat rents, maybe you should take it up with Miller Samuel.

Sure, I'll assume you have no sensibility or independent thought whatsoever and have zero knowledge of the real marketplace, so I'll just deal with Miller Samuel instead of discussing it with you.

You raise a very good point, greenberg: all those traitorous British loyalists up in Canaday are in cahoots with the smelly French, and in fact allow them to remain only 12 miles away from Canaday ... ready to strike the Land of the Free and the Home of the Brave at any time. And then run away and surrender, of course.

You raise a very good point, greenberg: all those traitorous British loyalists up in Canaday are in cahoots with the smelly French, and in fact allow them to remain only 12 miles away from Canaday ... ready to strike the Land of the Free and the Home of the Brave at any time. And then run away and surrender, of course.

Thank you, someone who understands.

The Miller Samuel data is in line with my knowledge of the real marketplace.

Funny how the sales ppsf data is in line with the SE index -- flat for the past 7 years -- but you think the rent data is skewed.

Post a SE survey. Ask the general SE readership their experience.

Grensadale I am gray now, will you bump the market movement in midtown.. It's a boorish shill again

>inonda

I am personally not happy when prices go up... I am looking to buy!

>If you rent, you rent can skyrocket every year

Yes, and it s really a pain to move... If you get a good deal, the landlord will realize it too, and it will only be short term... And you will have to go through the pain of moving. Once again, unless your overpay.

>How exactly can you use any of it? That's what I'm asking.

Well, no matter how you decide to use them, 1.1M will get you farther than 600k, in any case, in the example you chose, you will be better off buying. You can ask question, but please just don't take the only example where it s so obvious it was a good choice buying (real estate taking 100% when one leverages 6 times...)

Hb taking potshots at "truth"

How novel.

phew, you got your Rx refill

"Rx" is the name of my imaginary dog.

You panic sold the bottom of the market.
Live and learn.