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Home prices plunge by largest annual rate EVER

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Bumping the earlier discussion with the same title.

And yeah they're gonna keep plunging in 2009 so do yourself a favor and don't buy one for a few years.

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December 31 2008 - Berkeley

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Jacquie Cliff, "Jacquie Cliff"
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Jacquie Cliff, "Jacquie Cliff"

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I disagree slightly with this post. It all depends on your location. Here in Seattle we have been experiencing a strong stabilization and in some areas a slight increase in price. Depending on where you are, now may be exact time to buy considering the current mortgage rates.

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December 31 2008

sunnyview
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Unbelievable numbers. If Seattle is indeed different, maybe you would be willing to post a thread under buying that talks about different Seattle neighborhoods that seem to be stable or rising in this market. That would be great for people who are looking to buy there.

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December 31 2008

klarek the realist
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Jacquie, you mean this Seattle?

Good luck stringing people along based on that complete LIE. Of course, I don't think you're intentionally lying, you just have NO CLUE what you're talking about.

How do you RE agents sleep at night? I mean, you're always talking about how we're bottoming out, but it's never true. Are you always seeing bottom because your heads are engulfed by your bottoms? Could that be it?

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December 31 2008

klarek the realist
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Linky

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December 31 2008

oldnavajo
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Jacquie wrote "I disagree slightly with this post. It all depends on your location. Here in Seattle we have been experiencing a strong stabilization"

Apparently you can't READ. The posted link states

"Atlanta, Seattle and Portland, Ore., all recorded their first double-digit annual declines in October"

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December 31 2008

Lady Chattel
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LMAO oldnavajo!

Oh where is that one REA from Seattle (starts with a K)   who swore Seattle was different from the rest of the nation.   Gee, I guess all the people preaching in the last year how CREDIT can and will effect ALL areas of the country is coming true.

The doomer crystal ball is better than the cheertards.

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December 31 2008

klarek the realist
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Kary Krismer!

He ran away over a year ago. Aldreth kept PWNing him and he couldn't take it.

Yes, the doomer crystal ball has been good thus far.

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December 31 2008

2 Big 2 Fail
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You mean the same doomer crystal ball that predicted double digit interest rates? Yeah, your right. The doomer crystal ball has been 100% correct so far.

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December 31 2008

sunnyview
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I had heard from someone that Krismer was in Seattle specializing in foreclosures, but that might have just been idle gossip. Here is a face from the past that engaged in epic battles on behalf of a rising market. RememberÂ me?

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December 31 2008

Lady Chattel
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Good times Sunshine, good times. That picture of Krismer is hysterical, like he is trying to hold a turd in.

Well, Alps......I don't recall anyone shouting too loud how interest rates would shoot through the roof. Doomers have predicted you will be back everytime you proclaim to be done with us...........

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January 01

Pasadenan
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Kary hasn't left the site; he just stopped participating in the discussions. Read his profile; it really indicates what happened back in March. He finally saw what people were talking about.

Though he did post something about foreclosures, that really is not his specialty nor his existing client base.

And when someone says something that was increasing in prices is "levelling off", they really mean the bubble is about to burst and the prices about to fall.

Seattle has a long way to go before the required correction is over. If one wants to say buy due to an area, better make sure the bubble has already deflated and that their is present economic growth in the area.

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January 01

Pasadenan
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Link for Kary's Profile:

Kary Krismer Profile

Note, he just posted another Zillow property listing 12 days ago.

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January 01

Pasadenan
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One might also note that Kary has participated in quite of bit of the Q&A during December, since the Q&A became accessible through the discussion forums.

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January 01

Space_Truss
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A year ago Krismer was saying that market is strong in his area.

One of his listings is asking $529K now and paid $679K in 2006. Look at the loss in two years. I am sure the owner was thinking that It was a great time to buy. So sad.

A close friend of mine moved to WA in May 2007 and bought a house for $510K thinking that market is stable up there. He was working with real estate PROFESSIONAL!!!! telling him that Seattle housing market is bullet proof because of all those high tech companies. He just told me that similar houses in his neighborhood are being listed 100K below what he paid. He lost all his down payment I think.

Krismer was a nice guy though.

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January 01

klarek the realist
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I don't get how people can buy the "bulletproof" argument because of certain job industries that exist there. I mean, it's really stupid if you think about it.

A: "The Seattle market is special and will weather the storm!"
B: "Why? It went up at the same pace as all the other bubbled markets."
A: "Because they have Boeing and Microsoft!"
B: "Weren't those companies there long before the bubble?"
A: "Yes! So?"
B: "So, nothing has fundamentally changed and the housing prices became just as bogus as the other bubbled markets"
A: "What does that mean? It's the BEST time to BUY!"

And I've heard bullsh*t excuses for every other region of the country as well. Particularly, my own, the DC metro area, because of all our government-created jobs and contractors. Call me a doomer, but I see that as another bubble that will slowly deflate as the new administration might try to exercise a little bit of fiduciary responsibility in the coming years.

Lots of silly little exceptional reasons for each market, neighborhood, house, etc. Certainly worth thinking about, but always ask the question "what has changed in the past ten years to justify a house doubling or tripling in value during that time?"

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January 02

Robert Tapia, "Avenue S"
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You got that right. I wish everyone that raises the question about values come across this.

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January 03

----------- ----------------, "abcdefghi12345"
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----------- ----------------, "abcdefghi12345"

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Good Info - Thanks

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January 12

Tiffany Bond, "TiffanyBond"
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Tiffany Bond, "TiffanyBond"

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The Puget Sound Business Journal on 1/6/9 declared double digit declines: link

As a NW native, a property owner there and a licensed agent there I find it really misleading to blanket statement that the market is stabilizing without providing any supporting data.

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January 12

jimmy57
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I think people got used to invoking local exceptions to trends when the market was operating in a normal range --and not surprisingly, it reinforced every REA's claims to special expertise.

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January 12

zooropa
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zooropa

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I was told the Albany New York area has not been affected like the rest of the country. Any Albany agents want to chime in?

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January 12

sunnyview
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I think your are totally right Tiffany. The data really makes a difference.Â

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January 12

Kary L. Krismer, "Krismer"
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Kary L. Krismer, "Krismer"

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"Kary Krismer!

He ran away over a year ago. Aldreth kept PWNing him and he couldn't take it."

I didn't run away because of Aldreth. I left because of the lack of any significant level of intelligence here, or what I called a low signal to noise. Over a year ago Aldreth thought the banking system was going to collapse because Bank of America cash machines were down and because there was a ban on penny exports. There's only so much silliness I can handle.

There's one negative blogger I've given a lot of credit too. Goodle Eleua and "Clearcut Bainbridge" to find someone who actually knew what they were talking about.

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February 12

Roberto Ribas, "azrob"
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Roberto Ribas, "azrob"

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Kary, I'll take you're lack of intelligence challenge on here anytime you want. I'll take an IQ test versus you any day you want to! How much money would you like to lose on that bet?

You disputed everbody who predicted Seattle would fall; guess what? you lost! Those of us who understood the market analyzed it, and we were right.

Apologize and leave gracefully, or continue in your condescending attitude as demonstrated above, its all one to me.

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February 12

Kary L. Krismer, "Krismer"
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Kary L. Krismer, "Krismer"

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Go back and find where I said Seattle wouldn't fall. My position was you couldn't predict the future.

Up, down or flat you have a 33% chance of being right. I give credit to Eleua because he was actually right about the reason things would fall apart. That's much better than a bunch of nonsense about Seattle lagging the rest of the country or median income compared to median house prices.

Anyway, go back and find something I said that you disagree with and link it here. I came here to see what I was saying, and back in September 2007 I was saying I was concerned that the rate of increase here was too high.

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February 12

Roberto Ribas, "azrob"
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krispy, you couldn't predict seattle. I can and did, just like I predicted phoenix, countrywide, fannie and freddie. Its all on here, you go look them up. It wasn't a guess, supply/demand, price/rent, price/income are hardly wild guesses. You come on here with another arrogant post, when you actually have been completely discredited, all the old timers remember you for the pompous fool you were then, and the proven fool you are now.

You disputed everybodies data,nitpicked graphs, insulted Randy who is quite a bit smarter than you, the list of things a person with any sense would be ashamed of in your history is quite large here on zillow;

I also remember your post when you claimed to be a lawyer, then recanted.

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February 12

Kary L. Krismer, "Krismer"
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Kary L. Krismer, "Krismer"

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I've never tried to predict anything. My whole thing is that you can't predict! I'd even attack the bulls, but they were far and few in between compared to bears here. A broken clock is right twice a day. Just saying something will go down doesn't make you Nostradamus. Again, go back and find something that says something different.

BTW, this is my favorite thread here.

http://www.zillow.com/advice-thread/100-Financing-In-Seattle-And-Everywnere-Else/11811/

It came after people who didn't know squat about real estate ridiculed me for claiming that 100% financing was still available at the time, because they didn't know that from reading newspapers.

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February 12

Kary L. Krismer, "Krismer"
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Kary L. Krismer, "Krismer"

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"I also remember your post when you claimed to be a lawyer, then recanted."

Faulty memory.

http://pro.wsba.org/default.aspx

What else don't you remember?

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February 12

Kary L. Krismer, "Krismer"
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Kary L. Krismer, "Krismer"

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Here's a link(neat feature Zillow added) to a thread from August 2007, which was right after our peak, but before we knew that because the August and subsequent months weren't out yet.

Read all two pages of comments to see what I was saying then.

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February 12

Roberto Ribas, "azrob"
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seattle: down 20 to 30% in the next 12 to 18 months. See you back on here in another year, telling me it doesn't matter, cause it was yet another lucky guess,because nobody can predict anything...

what a pathtetic tool you are!

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February 12

Kary L. Krismer, "Krismer"
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Kary L. Krismer, "Krismer"

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It's interesting you remember me, even if so poorly. I don't remember you at all. But if that's the extent of what your analysis was, it's no wonder! I don't pay much attention to people that just pick numbers out of the air or have an analysis that is non-existent or laughable at best. So if that's the best you can do, I'm not surprised I don't remember you.

Or did you perhaps go by a silly name back then? I remember that was common, and people changed them all the time, and at one time people even falsely claimed to be agents. Those are additional reasons I left here. I don't mind the silly names, but the rest was too much.

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February 12

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Home prices plunge by largest annual rate EVER

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