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New Post 1/4/2008 10:29 AM
  rundeep
324 posts
3rd Level Poster


Speaking of zombies 

How about that Britney www.eonline.com/news/article/index.jsp? I don't know whether I feel terrible that she's apparently close to suicidal or whether I feel terrible because in a dark little corner of my heart I wish she'd just go away and if that's how it ends, well, it would end.

 
New Post 1/4/2008 11:46 AM
  switters
313 posts
3rd Level Poster




I'm shocked. 
And amazed. At my own restraint on the matter. But I just can't bring myself to kick someone while she's so down and out. Still, you've got to work pretty hard as an individual to make number 1 on one of my lists. So there's that. (Her work ethic.)

Serious question: To what extent is the greater media responsible for fiscal difficulties when, with the latest jobs numbers, it seems every other word out of their mouths is "recession"?

Help me help you help me. I want to move closer to my family, and I have a chance to buy a kickass place out in the woods that I can actually maybe afford. But that means I have to sell this place, which means I have to go through all the shit that involves that easily overwhelms me. More later. Great article, by the way. Please let me give you all my money (there's not much).
 
New Post 1/4/2008 1:58 PM
  rundeep
324 posts
3rd Level Poster


Your family lives in the woods? 

Amen, Hansel!

About time too. The buy-sell shtick is not so bad, really. I've bought 2 houses, sold 1 at a small loss and the second one I'm still in. And it's still appreciating.

On the sell side: The key is not to try to save yourself the realtor fee unless you already have a buyer in hand.  If you have one, great, that's money in your pocket.  If you don't know someone who wants to buy your place, call an agency and suck it up.  Much as I love you, you don't seem have the right stuff to be a do it yourself seller (I don't think. But I could be wrong in which event check out the "Sale By Owner" websites that set you up with all the stuff you could need).  Realtors are wonderful (or they can be.) They'll an appraisal fer free if they are going to do the selling! (Yippee). Just finish the damn kitchen with the cheapest stuff you can find before calling. They'll tell you how to gussy it up for walk-throughs which they hold without you being there. In a tough market (if it is, in the 'Ham) they'll find buyers you might not. They do the paperwork, sit with you at the closing, and organize the whole damn thing. It's very little work  on your part and therefore worth what you pay them.

On the buy side: have one of your sibs recommend a mortgage broker or just call 3 banks and see what the rates and deals are.  You already own a place and you haven't been foreclosed on and both of those facts should mean you are a relatively good risk, even in this crazy market.

On the market: it's hard to say. By definition, recessions are only spotted after they happened (or have begun happening).  The cycle is in some sense predictable: Armageddon hits, more bad news leaks out, and then the press is all doom and gloom. The people who really get rich are the ones who buy when the doom and gloom sets in. The trick is, as TQM notes, finding that bottom or having the wherewithal to ride down to it, and then acquire more.

I'll take your money and invest in SPDRs, and some Asian index fund and one "name" mixed bond and equity fund. But that would cost you, and this you actually can do yourself. Smooch.

 
New Post 1/6/2008 9:00 AM
  The Quiet Man
369 posts
3rd Level Poster


And that trick, as you note, 

is really and truly some trick.

One of my biggest mistakes was buying back into Nortel Networks after it crashed.  After I bought it, it still fell from this basement, to a new one some 70% lower yet.  There's been a few "dead cat" bounces since, but nothing within 100 light years of what I bought it at.

As for predicting recessions, there's always someone predicting them, and most of the predictions are wrong.  But our mistake is to worship the lucky person who's prediction was right.  Find me such a person who's been right twice.

 
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