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post #91 of 130 (permalink) Old 09-17-2008, 12:55 AM
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Qustion Milfy:

Say you have an opportunity to buy a $500,000 house in a neighborhood that is chocked full of $500,000 houses. But, through luck you only have to pay $300,000 for that house.

Now, according to you the MARKET VALUE on that house is now $300,000.

Six month later you have to move cross country and need to sell that house. There has been NO appreciation of Real Estate in your city and all the houses in the hood are still around $500,000.

So how much are you going to put that house on the market for? MARKET VALUE?
It is irrelevant to the MARKET PRICE what I put the house on for, on the other hand the sales price (if and when the house is sold) is.
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post #92 of 130 (permalink) Old 09-17-2008, 01:03 AM
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You may want to approach Hawaiian Tropic as potential lobbyists for your pipe dream.
Ron Rice has his own problems right now. His only child is now a very hot young lady [Sterling Rice] who is also acting.

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post #93 of 130 (permalink) Old 09-17-2008, 01:16 AM
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The SALE price is the new MARKET price regardless of what VALUE the owner puts on it. Get it ?
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It is irrelevant to the MARKET PRICE what I put the house on for, on the other hand the sales price (if and when the house is sold) is.
Nice attempt to play both sides.

The asset does not reduce to purchase price, simply because 1 buyer and 1 seller decided to have a transaction at below market. The asset still CAN maintain its previous value. A Rolex is an example. A diamond is an example. A Daytona Ferrari is an example.

Your premise that "The SALE price is the new MARKET price regardless of what VALUE the owner puts on it" is just wrong. Sorry. Now to caveat that, it does not mean the owner can just put ANY price on it, the MARKET PRICE has to be derived through established, honest appraisal but to say that a discounted sale price become the new market price is simply ludicrous.

A $1 million painting by Decker was purchased at a YARD SALE for $5 a few years past. It's MARKET VALUE was ALWAYS well above the $5 figure.

$5 Garage Sale Painting Worth More

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post #94 of 130 (permalink) Old 09-17-2008, 01:21 AM
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...
A $1 million painting by Decker was purchased at a YARD SALE for $5 a few years past. It's MARKET VALUE was ALWAYS well above the $5 figure.

$5 Garage Sale Painting Worth More
Sigh.... in this example, the MARKET PRICE of the painting simply increased from $5 to $1M. MARKET PRICES can be volatile. The painting could well jump to a billion dollars and it's still an increase in MARKET PRICE.

So this example does not contradict my premise "The SALE price is the new MARKET price regardless of what VALUE the owner puts on it".

Last edited by mlfun; 09-17-2008 at 01:23 AM.
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post #95 of 130 (permalink) Old 09-17-2008, 06:49 AM
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What a bunch of fun reading this thread. Haddix, unless you know where you stand, you'll fall for anything. You have just confessed to the liberals on BWOT about your conversion based on their "intelligent" posts. In the meantime, they are laughing at you for letting them pop your political cherry. Half the time the libs on BWOT don't believe what they write themselves. Several just like to practice unfettered arrogance and condescension in an atmosphere of anonymity that allows them to be irresponsibly unaccountable. We know, don't we, that most life is not like that? So proceed with caution; BWOT is not real life.
You are so full of shit!
First of all the core people in here do know each other and WE ARE NOT as anonymous as you made it to be. As matter of fact one guy in here that claimed to be a gun and war lovin conservative ultra Republican called the authorities about me and sure enough it was very easy to find me since said authorities now days frown of free speech. Thanks to your ignorant kind that make sweep judgments and accuse anyone that you don't agree with as libs or lefties. We live in a time period that rivals the days of the Nazis and the proof is right here with a post like yours full of unfounded accusations and generalization that popped right out off your ass because you have nothing of real substance to contribute other than hate. Who is the irresponsible again?

We or I was in no way belittling Haddix on this "conversion" that's your specialty and I won't challenge you on that skill. My skepticism was well founded since he flipped from one extreme to a position of enlightenment and self discovery. It just sounded like a set up and I made it clear how I felt but I never claimed that I popped his cherry, far from it, if you read what I said I tried to distance myself for good reason. Have you seen that commercial of Bigfoot being enticed for a car ride by some jerks?
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post #96 of 130 (permalink) Old 09-17-2008, 08:19 AM
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We disband all forces throughout the world but allow each nation to keep Air Force One or their equivalent. We then equip each nations leader with a sawed off shotgun. When they have a beef, they can just hop on their plane and travel to the beefee's country and square off. You have to be quite close to do damage with a sawed off, but my money says the plane never leaves the ground because their life is far more valuable than those who would actually die for their country


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And the world will be as one "


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post #97 of 130 (permalink) Old 09-17-2008, 08:26 AM
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More to come on this....we're getting close to a vein.
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post #98 of 130 (permalink) Old 09-17-2008, 08:30 AM
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More to come on this....we're getting close to a vein.
He actually bleeds?
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post #99 of 130 (permalink) Old 09-17-2008, 08:34 AM
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Do you think he may need some "Lurchpons"?
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post #100 of 130 (permalink) Old 09-17-2008, 01:28 PM
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Sigh.... in this example, the MARKET PRICE of the painting simply increased from $5 to $1M. MARKET PRICES can be volatile. The painting could well jump to a billion dollars and it's still an increase in MARKET PRICE.

So this example does not contradict my premise "The SALE price is the new MARKET price regardless of what VALUE the owner puts on it".
You must suck at real estate investing.

My parents make 95% of their money through real estate. They buy houses at least once a month that are priced WAY below market value due to short sales or foreclosures. They then turn around and sell them for their MARKET price for a hefty profit.

Case in point, sale price is not equal to market price.

I actually used to have an Ohio real estate license. I didn't keep up with my continuing ed though. I didn't like dealing with people so much. My mom on the other hand loves it and she has been a successful realtor for over 15 years.
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