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Winter Banter and General Disco 2


dendrite
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7 minutes ago, RUNNAWAYICEBERG said:

Thanks. Yea, we have an architect drawing up plans for us so we’re already at that stage. We have a contractor on standby as well but do you only do reno’s locally in your area?

For the most part.  Southeastern MA is where most of our work is, from Cape Cod all up to the Natick area.

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Yeah, the housing market went ballistic during this COVID period. My sister owns an appraisal business and has been absolutely slammed for about a year now. Incredible refi market with the low interest rates and mass exodus/transplants bolstering sales also. She has had an insane run and it’s showing no sign of slowing down as of yet.

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34 minutes ago, Kitzbuhel Craver said:

Yeah, the housing market went ballistic during this COVID period. My sister owns an appraisal business and has been absolutely slammed for about a year now. Incredible refi market with the low interest rates and mass exodus/transplants bolstering sales also. She has had an insane run and it’s showing no sign of slowing down as of yet.

Hard Assets are seeing tremendous demand as some investors are front running MMT taking over in Congress. Modern Monetary Theory is something everyone should have a basic understanding of , and politically speaking it is the path of lease resistance , given its belief deficits don’t matter and countries who can print their own currency can print their issues away , and if inflation runs hot , MMT says raise taxes. Yellens appointment to treasury was a tea leaf to that option. It would be just a move to very open fiscal policy with much less  pretense of constraint Based on the MMT beliefs laid out in Stephanie Keltons Book .

It is the only “feasible in practice “ way of transforming  asset multiples and valuations (that are at historic valuations) Into a new normal or that is the hope 

We have already become the biggest holders of our own debt and we (the fed ) just monetize (buys) the debt Treasury sells to pay for deficits . It’s a CJ . That way we buy our own debt to keep interest rates artificially low (bond prices are inverse to rates) as we run huge deficits . This is why central bank balance sheets the world over have expanded exponentially (first in 2008 crisis and again in response to Covid) 

As of a few Months ago 

Fed owns 3.8 Trillion 

Japan 1.25 T

China 1.06 T

There is no Turning back , this sort of situation has played out for nearly 2000 years with various monetary systems (or as Mark Twain would say history doesn’t repeat but it rhymes ) 

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50 minutes ago, Kitzbuhel Craver said:

Yeah, the housing market went ballistic during this COVID period. My sister owns an appraisal business and has been absolutely slammed for about a year now. Incredible refi market with the low interest rates and mass exodus/transplants bolstering sales also. She has had an insane run and it’s showing no sign of slowing down as of yet.

That's what I do, I got my CT license and Mass and have to turn down more work that I get because I can't keep up, been working 6-7 days a week since covid, been working nights too and last night I fell asleep working and woke up at 4am with the mouse in my lap. The checks coming in make up for the fatigue though.

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7 minutes ago, DavisStraight said:

That's what I do, I got my CT license and Mass and have to turn down more work that I get because I can't keep up, been working 6-7 days a week since covid, been working nights too and last night I fell asleep working and woke up at 4am with the mouse in my lap. The checks coming in make up for the fatigue though.

Yeah, lol... same story from her, almost verbatim. Good for you guys, at least there has been some economic growth for a lucky few during these times.

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22 minutes ago, DavisStraight said:

That's what I do, I got my CT license and Mass and have to turn down more work that I get because I can't keep up, been working 6-7 days a week since covid, been working nights too and last night I fell asleep working and woke up at 4am with the mouse in my lap. The checks coming in make up for the fatigue though.

How does one break into that line of work? (Home appraiser). I had a family friend a while ago that mentioned what a good gig that was. Just curious 

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16 minutes ago, Kitzbuhel Craver said:

Yeah, lol... same story from her, almost verbatim. Good for you guys, at least there has been some economic growth for a lucky few during these times.

I know powderfreak spoke about some folks he knew making the same decisions ..just as lockdowns began and have reaped the rewards in housing market .  
 

I would assume many would be agents have over crowded that job market in last few months? 

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6 minutes ago, TauntonBlizzard2013 said:

How does one break into that line of work? (Home appraiser). I had a family friend a while ago that mentioned what a good gig that was. Just curious 

Every state has different requirements. Years back in CT it used to be relatively easy, just had to pass one test and you were in. The laws have changed since and now you need 4yrs in a relatable study, and that’s relatively broad and a more difficult(more so for commercial appraisal)comprehensive state required test, rigorous state evaluation in front of the appraisal board and some fees as well associated to the licensing. 

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10 minutes ago, STILL N OF PIKE said:

I know powderfreak spoke about some folks he knew making the same decisions ..just as lockdowns began and have reaped the rewards in housing market .  
 

I would assume many would be agents have over crowded that job market in last few months? 

You would assume so, however I’m not sure how much volume each agent can handle. In the appraisal industry it does take some time to process the appraisals. It’s an absolute feeding frenzy out there so hard to say if it’s maxed out yet.

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7 minutes ago, Kitzbuhel Craver said:

Every state has different requirements. Years back in CT it used to be relatively easy, just had to pass one test and you were in. The laws have changed since and now you need 4yrs in a relatable study, and that’s relatively broad and a more difficult(more so for commercial appraisal)comprehensive state required test, rigorous state evaluation in front of the appraisal board and some fees as well associated to the licensing. 

Yeah, they made it much harder to break in, after you do all the course work you need to be a trainee and the problem is finding someone who has time to train you.  There were plenty of appraisers back in the 2001-2005 boom but after the slowdown half of them left the profession. It was good for the one's that stayed because it was less volume but only 50% of appraisers still working. During that time they made the requirements much more stringent.

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21 minutes ago, STILL N OF PIKE said:

I know powderfreak spoke about some folks he knew making the same decisions ..just as lockdowns began and have reaped the rewards in housing market .  
 

I would assume many would be agents have over crowded that job market in last few months? 

My wife's real estate company has added a bunch of newly licensed Real Estate Agents trying to get in on the boom.  Problem is there are a ton of buyers still, but inventory is low after the past 9 month COVID buying frenzy--at least locally here.

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Just booked our summer rental on the Outer Cape in Eastham.  Been renting the same place for about 17 years, but had to book right away before we lost out as the owner is getting tons of requests.  He told us that so many rental properties were sold in the last year to people trying to escape the cities that the demand for what is left for rentals is thru the roof.  Book early if you want to go to the Cape!

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19 minutes ago, backedgeapproaching said:

My wife's real estate company has added a bunch of newly licensed Real Estate Agents trying to get in on the boom.  Problem is there are a ton of buyers still, but inventory is low after the past 9 month COVID buying frenzy--at least locally here.

Same here, more buyers than sellers, so if you sell your place for a nice price you have to pay for your new place and you have a lot of competition. If you could sell and find a rental or temporary place to live you could wait it out and buy back when things cool down. I;ve seen this cycle play out a few times in my career and it's always the same story albeit on a larger scale each time.

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34 minutes ago, DavisStraight said:

Same here, more buyers than sellers, so if you sell your place for a nice price you have to pay for your new place and you have a lot of competition. If you could sell and find a rental or temporary place to live you could wait it out and buy back when things cool down. I;ve seen this cycle play out a few times in my career and it's always the same story albeit on a larger scale each time.

Same in the Methuen area and southern nh. My wife and I attended an open house in Windham NH.  So many people showed up that the police had to direct traffic on the street. I was told around 200 groups toured the home. The future home owner is going to have to win a bidding war that will likely increase the home sell price by at least  $30,000.  The home has a very long driveway that needs replacing...likely at a cost of $20,000+.....home has clapboard siding that will need to be replaced. The roof is about 20 years old. The windows need replacing. And toss in the potential to have to replace a septic system and/or well in the future...............a hard pass!

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18 hours ago, HIPPYVALLEY said:

I still have my grandfather’s hand made tip-ups and the stainless chisel he made working in the Quincy ship yard.  Also the sled boxes my dad built. 

My dad made 4 topwater traps about 1960 from a diagram in a sporting mag - more skimming required but can set it for sensitive or heavy-duty takes, never wind-sets (big issue with 1960 underwater traps) and never snubs a fish when being picked up to access the reel, also visible from 1/4 mile away, far longer than I'm now interested in running.  He made 4 more in 1986 when my daughter got interested in ice fishing.  Used a spud (ice chisel) for 5-6 years, great until the ice gets thicker than 10-12" then a real chore.  The Snabb hand auger dad bought about 1961 is good to 30"+ (requires kneeling past 25) and is the only efficient spoon auger I ever saw, though it's also the only one I've seen in the past 50+ years; the corkscrew design took over the market.  

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17 hours ago, Whineminster said:

I fish for fun, I only really eat ocean fish.  but ya they also taste like mud. 

Ever try skinning the non-salmonid freshwater fish?  Makes all the difference, IMO.  Not many pickerel up here as big as the one in your pic but the pike are bigger and make an outstanding fish stew.

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@HIPPYVALLEYI grew up on the S. Shore and had a few friend's Dads working at the shipyard. As a kid in the early-mid 70's , I literally watched that shipyard fold. The fathers all went out on furlough, seemed to continue to get paid for what seemed like years and then just retired. They were all union guys. I remember driving over the Fore River bridge watching the LNG tankers being build. Of course, you didn't realize what was going on. An amazing history.

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3 hours ago, tamarack said:

Ever try skinning the non-salmonid freshwater fish?  Makes all the difference, IMO.  Not many pickerel up here as big as the one in your pic but the pike are bigger and make an outstanding fish stew.

We caught a lot of pike but I wouldn't eat them, was afraid to choke on a bone.

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6 hours ago, DavisStraight said:

Same here, more buyers than sellers, so if you sell your place for a nice price you have to pay for your new place and you have a lot of competition. If you could sell and find a rental or temporary place to live you could wait it out and buy back when things cool down. I;ve seen this cycle play out a few times in my career and it's always the same story albeit on a larger scale each time.

When will this seller’s market cool off you think?

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I worked in real estate for years before this. I don't see this market cooling off for years. Maybe even 5+ years I'd be willing to say. Area is set up for sellers in the long term despite local construction boom. More businesses coming to Boston than leaving. Continuous surge of people coming to Boston for school. Excellent place to live even if you work from home. I could see condos struggling in large complexes in less than five years. If your home is single double or triple decker, there will be a buyer. Period. 

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