David Gibbons

Zillow.com

Phone: (206) 470-7168

Website: This is it.

Back to Zillow.com

Back to Results

Tools

Ask a Question
Start a Discussion
Close
Create an Email Alert

Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.

This alert is for the following:

Topic:
Why it's a great time to wait and NOT buy

How often would you like the alert emailed?

Frequency:

Immediately Daily Weekly
Maximum 20 emails/day

Save

Cancel E-mail alerts
RSS
Send to del.icio.us
Send to StumbleUpon
Print page

Partner Tools

Views: 3,802
US
State
Nearby States
- Alaska
- Alabama
- Arkansas
- American Samoa
- Arizona
- California
- Colorado
- Connecticut
- Washington D.C.
- Delaware
- Florida
- Georgia
- Guam
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Northern Mariana Islands
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Virgin Islands
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Don't see it?

Find:

Why it's a great time to wait and NOT buy

sponsored by

klarek the realist
Contributions: 6653

close

klarek the realist

Contributions: 6653

Q&A

:249
Disc

:6322
Photos

:82

Zillow All-Star

Since September 2009

View full profile

Oh no, another doomer and his fact-backed assessments that the market is overvalued! Run, cheerleaders, run.

US home sales fall to fresh lows, glut of unsold homes rises:

"Existing homes sales fell sharply in September," said Stephen Gallagher, an economist at Societe Generale.

"Potential buyers, those without credit obstacles, had plenty of reason to wait and see hoping for greater supply or declining prices," Gallagher said.

http://www.breitbart.com/article.php?id=071024152444.1bd2qxem&show_article=1

October 24 2007 - US

RSS

Replies (185)

First
Previous
1
2
3
4
5
6
7
Next
Last

K101
Contributions: 6569

close

Contributions: 6569

Q&A

:346
Disc

:6012
Photos

:211

View full profile

Go Klarek go!

Your exuberance from your recent liberating decision to rent is appreciated and catchy. You keep slapping down the facts - even some of the NAR talking heads are starting to catch on.

October 24 2007

klarek the realist
Contributions: 6653

close

klarek the realist

Contributions: 6653

Q&A

:249
Disc

:6322
Photos

:82

Zillow All-Star

Since September 2009

View full profile

K101, I have been in a fantastic mood since I gave up the home-shopping "bug". What a depressing venture that was. I'm still two weeks away from moving in, but out of sheer anxiety I started taking down my bookshelf and packing away things last night.

October 24 2007

tldtms
Contributions: 784

close

Contributions: 784

Q&A

:2
Disc

:766
Photos

:16

View full profile

I'm confused, did you buy a house or rent?

October 24 2007

klarek the realist
Contributions: 6653

close

klarek the realist

Contributions: 6653

Q&A

:249
Disc

:6322
Photos

:82

Zillow All-Star

Since September 2009

View full profile

Rent. I came very close to buying, but snapped out of it at the right moment.

October 24 2007

13231 1213213, "321321"
Contributions: 137

close

13231 1213213, "321321"

Real Estate Agent

Contributions: 137

Q&A

:5
Disc

:132

View full profile

Klarek, good for you for making the best decision for yourself in your particular situation. Not every buyer thinks the way you do right now.

I am glad that my client just closed on a duplex that was appraised at 270k but paid only 246k for it. Sometimes it is best to wait the market out but in her situation we negotiated down almost 30,000 dollars.

There are those situations where it pays to buy if you are in the postion to negotitate.

October 24 2007

Daniel Beem, "RealDealDan"
Contributions: 78

close

Daniel Beem, "RealDealDan"

Xenia, OH

Real Estate Agent

Contributions: 78

Q&A

:1
Disc

:7
Photos

:70

View full profile

Klarek, the thing with this market is that no one knows when this will turn around. If you try and time this market you will never know when it was at it's lowest until after it has already started to rise. Also, it depends on what part of the country you are in. Most of the Midwest has not seen the run-ups in pricing that the coasts and the southern states have seen, so our downturns may not last as long.

Good Luck!

October 24 2007

K101
Contributions: 6569

close

Contributions: 6569

Q&A

:346
Disc

:6012
Photos

:211

View full profile

Hmmm... the experts that I saw on TV this afternoon all said that it will likely be 2009 before we can even think about an equilibrium point......

October 24 2007

blackmetal
Contributions: 65

close

Contributions: 65

Disc

:58
Photos

:7

View full profile

what I've noticed is that each person on here has their own agenda. I'm advocating buying because I'm buying right now and Klarek is advocating renting because that's what he himself has chosen to do. The fact that were all so concerned about real estate on here ultimately demonstrates just how self serving our society is in general. Think about it, during all the time we waste on here arguing back and forth over whether the market will crash or not, we could be out helping those that could never even dream of buying a home in the first place. All you greedy capitalists are the reason the market is now so messed up in the first place. I'm done with this forum for a while. There's gotta be more productive ways to use my time.

October 24 2007

klarek the realist
Contributions: 6653

close

klarek the realist

Contributions: 6653

Q&A

:249
Disc

:6322
Photos

:82

Zillow All-Star

Since September 2009

View full profile

Thanks, Ramona. I certainly came close to buying, but renting is so much cheaper around here right now. Plus, I'll be saving myself more than an hour per day in my commute.

Daniel, in my opinion it is far wiser to buy after it bottoms out than on the way down. We don't know how low it will go, and the ground is the limit. Nobody should ever put themselves in a situation where they owe more than the home is worth. At any time life can change and one could be forced to sell.

There are many parts of the country that were generally not "bubbled", so to speak, but I'm in the Northern VA area and prices absolutely skyrocketed in the past several years.

October 24 2007

Rachel Pajaczek, "Seattle Agent"
Contributions: 464

close

Rachel Pajaczek, "Seattle Agent"

Seattle

Real Estate Agent

Contributions: 464

Disc

:433
Photos

:31

View full profile

jhannan,

Yes, I agree. I think each topic should start with..My agenda is....(myself included). Everyone is correct at some point in these threads. Would I buy in CA or FL? --NO!--other places..Yes.

October 24 2007

klarek the realist
Contributions: 6653

close

klarek the realist

Contributions: 6653

Q&A

:249
Disc

:6322
Photos

:82

Zillow All-Star

Since September 2009

View full profile

jhannan, I'm advocating renting because I think it's still a dangerously bad idea to buy. I'm renting because I truly believe it. There's nothing to indicate that this market will see an upswing any time soon.

October 24 2007

DebtsNMesses
Contributions: 6662

close

Contributions: 6662

Q&A

:144
Disc

:6471
Photos

:47

Zillow All-Star

Since July 2009

View full profile

I'm in socal... renting is 1/2 the price of buying. I'm holding firm in my rental, too, but will buy when interest rates start climbing more. Either that, or buy elsewhere, where the bubble effect wasn't severe.

October 24 2007

Aldreth
Contributions: 4233

close

Contributions: 4233

Q&A

:25
Disc

:3985
Photos

:223

Zillow All-Star

Since August 2009

View full profile

Would I buy in CA or FL? NO!
Would I buy in OR or WA? NO!
Would I buy in AK, GA, MD, ID, MA, IL, OH, TX, CO, IA, MI, CT, HI, MO, NV, KY, TN, MN, ME? NO!

Why would you buy anything right now?
Why even purchase a mortgage?
So you can rent from the bank and pay more for the privilege of giving them the money?

Why is it so unethical to have an active savings account?
Why are mortgages inherently tied to the stock market?
Why are real estate moguls trying so hard to keep the RE market propped?
Why is countrywide playing with default numbers?
Why is crude near 87$
Why do we keep hearing 1987 in relation to the current stock market?
Why has Merril Lynch been downgraded?
Why is the american dollar worth less than the canadian counterpart?

I don't have an agenda other than to tell passive idiots to wake up and look at things from a non-rose-colored-glasses view.

Don't be biased because your job demands it.

October 24 2007

sunnyview
Contributions: 10849

close

Contributions: 10849

Q&A

:6378
Disc

:4449
Photos

:22

Zillow All-Star

Since January 2009

View full profile

Buying in this market is only a good idea if the property pencils out close to the same as renting. That is always how a buyer should try to buy. At least that way if the worst happens, they can afford to carry the property if they are unable to sell.

Aldreth you always have good points. Personally, I smell 1970 style recession coming around..high gas prices, high interest rates and a dead real estate market. Yuk, I hated the 70's.

October 24 2007

Jarrod Chambers, "Gallo de fuego"
Contributions: 2051

close

Jarrod Chambers, "Gallo de fuego"

Kingman, AZ

Real Estate Agent

View my 45 listings

Contributions: 2051

Q&A

:4
Disc

:1850
Photos

:197

View full profile

Real estate inclines and declines have been very rapid in the last 3 years. i don't think we can compare it to anything.

Its not biased if you truly feel that the market will go back up, no matter what your profession is.

October 24 2007

CORONA NICK
Contributions: 2135

close

Contributions: 2135

Q&A

:292
Disc

:1840
Photos

:3

Zillow All-Star

Since October 2009

View full profile

Why ask why...lol

October 24 2007

mrfnuts
Contributions: 1353

close

Contributions: 1353

Q&A

:50
Disc

:1260
Photos

:43

View full profile

'Its not biased if you truly feel that the market will go back up'

Isn't that the precise definition of biased?

October 24 2007

Angelique01
Contributions: 2028

close

Contributions: 2028

Q&A

:8
Disc

:2016
Photos

:4

View full profile

lol. Of course these posts are all self-serving no matter what side of the fence you're on, but at least some are based on reality.

I'm smack in the middle of getting a real estate license for fun and profit, really mostly for my own use. Even if I were to use the license to buy or sell for others, there's no way on earth that I could ethically encourage someone to buy now. Things around here are seriously dropping, and I'm not sure how anyone can predict where they'll ultimately go.

Just as a guess, if you look at the yearly charts, I'd think it could be safe to buy when the prices drop down to where they were (for any area) before they gapped up.

October 24 2007

LongIslandBubble
Contributions: 2799

close

LongIslandBubble

Contributions: 2799

Q&A

:1
Disc

:2767
Photos

:31

View full profile

*****
I am glad that my client just closed on a duplex that was appraised at 270k but paid only 246k for it.
*****

Won't they be proud when duplexes just like it sell for under $200k?

October 24 2007

caliguy
Contributions: 1283

close

Contributions: 1283

Disc

:1268
Photos

:15

View full profile

In case anyone missed this from the AP story:

"Analysts said the current downturn is already more severe than the housing slump of the 1990s. They predicted that before it is resolved, it will rival the 1980-82 housing slump. Back then, the industry was battered by double-digit mortgage rates and the economy was in a steep recession."

Hard to argue with that.
http://tinyurl.com/32qrb4

October 24 2007

Sabrina Simpson, "sabrinarose58"
Contributions: 16

close

Sabrina Simpson, "sabrinarose58"

Real Estate Agent

Contributions: 16

Q&A

:1
Disc

:3
Photos

:12

View full profile

This is absolutely the BEST time for buyers to be out there purchasing a home. Price are not only low but negotiable! Interest rates are terrific! Obviously you don't remember the double digit interest rates in the late '80's. Don't miss the ship before it sales, because I believe rates will go up after the first of the year (that is my personal opinion). Parents that have kids in college should definately be purchasing a investment property for their son/daughter to live in instead of paying the high cost of on campus housing. Feel free to email me at ssimpson@sabrinasimpson.com if you have any questions.

October 24 2007

mrfnuts
Contributions: 1353

close

Contributions: 1353

Q&A

:50
Disc

:1260
Photos

:43

View full profile

Another cheerleader

October 24 2007

Bette Defarm
Contributions: 4638

close

Contributions: 4638

Q&A

:202
Disc

:4413
Photos

:23

View full profile

Sabrina Simpson is yet one more example of why the RE industry is so distrusted, that it is embarrassing to work within the present system.

October 24 2007

chuckdog24
Contributions: 1521

close

Contributions: 1521

Q&A

:101
Disc

:1419
Photos

:1

View full profile

Yea, it's the same NAR speak that she's pasting into other threads too.

October 24 2007

fillm0re
Contributions: 116

close

Contributions: 116

Disc

:116

View full profile

---Why would you buy anything right now? ---

if rent is currently 1700/mo and one is able to find something they like for only 300-400/mo more, it seems to make sense rather than throwing away twenty grand a year. if they cant.....oh well, just wait it out and see.

October 24 2007

mrfnuts
Contributions: 1353

close

Contributions: 1353

Q&A

:50
Disc

:1260
Photos

:43

View full profile

Equivalent places where available for 300-400 more than rent back 7 years ago. That's when I was buying, and buying I did.

Now, your same $1700 rental costs an additional $1700 each month more to buy.

Of course I'm talking about the two areas I have lived in (NY and CA, with CA being even worse).

October 24 2007

fillm0re
Contributions: 116

close

Contributions: 116

Disc

:116

View full profile

its not quite that bad in seattle. im not saying theyre easy to find, but ive been seeing decent signs and expect to see a little better heading into winter.

October 24 2007

LongIslandBubble
Contributions: 2799

close

LongIslandBubble

Contributions: 2799

Q&A

:1
Disc

:2767
Photos

:31

View full profile

*******expect to see a little better heading into winter.

Yes and:

expect to see even better the summer after

expect to see even better the winter after

expect to see even better the summer after

expect to see even better the winter after

expect to see even better the summer after

expect to see even better the winter after

expect to see even better the summer after

expect to see even better the winter after

....you get the idea.

October 24 2007

fillm0re
Contributions: 116

close

Contributions: 116

Disc

:116

View full profile

yes, prices are on the decline, but its also about location and theyre only going to decline so much in eastside seattle because its the only decent commute in the entire pacific northwest. with microsoft expanding to a downtown bellevue office and looking to add upwards of 30k new jobs across its campuses, thats a lot of potential buyers to compete with. if house prices get anywhere close to 400/mo higher than current rent i will be ready to buy and not even worry about what happens in the near future.

October 24 2007

klarek the realist
Contributions: 6653

close

klarek the realist

Contributions: 6653

Q&A

:249
Disc

:6322
Photos

:82

Zillow All-Star

Since September 2009

View full profile

"Its not biased if you truly feel that the market will go back up, no matter what your profession is."

It is biased when nothing backs it up and your job is contingent upon people believing that. Sheesh, so shameless.

October 25 2007

First
Previous
1
2
3
4
5
6
7
Next
Last

Have a question? Ask it here.

Most Active Real Estate Agents

Conlon A Real Estate

435 listings

Local Expert
Teresa Young

302 listings

Local Expert
AdamShpritz

288 listings

Local Expert
DANIELLE HARRELL

179 listings

Local Expert
Michael Dukhovny

142 listings

Local Expert

See more real estate agents

Related Discussions

Discussion Offer negotitations for pre-sale home

Last reply by Tonya Brobeck
24 minutes ago

In Buying Process
6 Replies - 146 Views

Discussion Why purchase at a foreclosure auction?

Last reply by Linda Strasberg
29 minutes ago

In Buying Foreclosures
10 Replies - 426 Views

Discussion Foreclosure .com "Listings" - Misleading or Not?

Last reply by Tonya Brobeck
31 minutes ago

In Using Zillow to buy
7 Replies - 201 Views

Discussion I got scrammed by Century 21

Last reply by Linda Strasberg
57 minutes ago

In Buying Process
42 Replies - 736 Views

Discussion To stay or go?

Last reply by Roberto Ribas
3 hours ago

In Home Buying
26 Replies - 763 Views

See More

Related Articles about Home Buying

Guide Real Estate Buyer's Closing Costs

In Buying Process
Edited August 27

Guide List of Closing Costs and Fees

In Buying Process
Edited August 27

Guide About First-Time Home Buyer Tax Credit

In Home Buying
Edited July 22

Guide You've Opened Escrow

In Buying Process
Edited July 21

Guide Picking the Best Comps

In Using Zillow to buy
Edited May 04

See more articles about Home Buying

Current Mortgage Rates

Current Last Week

Get this widget

<div style="width:298px;height:123px;border:1px solid #adcfff;overflow:hidden;text-align:center;font-family:verdana,arial,sans-serif;font-size:8pt;line-height:13x;background-color:#eff3ff;letter-spacing:0;text-transform:none;">
		<div style="margin: 0 6px;">
			<div style="margin-top:6px;">
				<a href="http://www.zillow.com/Mortgage_Rates/#{scid=mor-wid-lthd}" target="_blank" style="font-size:9pt;color:#36b;text-decoration:none;font-weight:bold;">
				   
						Current
				   
				         
				   Mortgage Rates</a>
			</div>   
			
			<div style="color:#555;margin:5px 0 1px;">
				<span style="padding-left:137px;">Current</span>
				<span style="padding-left:23px;">Last Week</span>
			</div>

<div style="background:#fff;height:60px;width:284px;border:1px solid #adcfff;text-align:left;">
				<div style="width:144px;float:left;">
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt1}" target="_blank" style="text-decoration:underline;color:#36b;">30 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#eff7ff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt2}" target="_blank" style="text-decoration:underline;color:#36b;">15 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/#{scid=mor-wid-ltt3}" target="_blank" style="text-decoration:underline;color:#36b;">5/1 ARM</a></div>
					</div>
				</div>
					
				<iframe title="Current Mortgage Rates" frameborder="0" height="60" style="float:left;" scrolling="no" width="138" src="/mortgage/MortgageRateTableWidget.htm?wide=1&region=102001">
						Your browser doesn't support frames.  Visit 
					<a href="http://www.zillow.com/mortgage/" target="_blank" style="text-decoration:none; font-size:9pt; font-weight:bold;">Zillow Mortgage Marketplace</a> 
					to see this content.
				</iframe>
				<div style="clear:both;"></div>
			</div>
			
			<div style="margin:4px 6px 0;height:15px;width:276px;">
				<a href="http://www.zillow.com/mortgage/#{scid=mor-wid-ltgr}" target="_blank" title="Zillow Mortgage Marketplace" style="display:block;margin-left:4px;height:15px;width:145px;float:left;"><img src="/static/images/zillow-mortgage-logo-small.gif" alt="Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage Marketplace" style="border:none;"/></a>
				   
				<a href="http://www.zillow.com/webtools/widgets/MortgageRateWidget.htm#{scid=mor-wid-ltget}" target="_blank" style="font-size:7pt;color:gray;text-decoration:none;float:right;margin:1px 5px 0 0;width:80px;">Get this widget</a>
			</div>
		</div>
	</div>

Need a Mortgage?

Zillow Mortgage Marketplace

Competitive rates
Accurate, custom quotes
Thousands of lenders

... and, it's free and anonymous

Get instant mortgage quotes

Loan type
Amount
ZIP code

Learn about Zillow Mortgage Marketplace

Zillow Poll:

Suggested by Chip Streater

What do you look for most in an online lender

Consumer Feedback

Great Service

Positive Reputation

Positive Image

Next poll
Suggest a poll

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

© 2006-2008 Zillow.com, All Rights Reserved