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Irrational exuberance part two. The vacuum tube that bought Z at $60 lost 33% literally in seconds.
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zillow
wtf
Zillow says my house is worth $298,800...that is about right
Your house is most likely worth half that in real terms, unless you have ample room to farm with, but even then, your house is worth a lot less than you think.
Her handle, though, is dead on.
I still don't get it a huge data base that incorporates appraised values with recent sales to come up with a zestimate - I mean if you were selling would you not base it on recent sales of similar properties? I checked out my neighborhood and some of it is close and other stuff is just stupid e.g no reliability.
I use zillow (and google earth) info in preparing paperwork for customer meetings. Square footage, dates of sale, date of build, maps and neighborhood information is useful too. Price discovery is overly relied on at this site, imo. Too many variables (make me move, recent activity, modifications) can and do happen in real time to give too much credence to this data point.
Welcome to the matrix. All trades must be executed by our computers. There will be no exceptions and no cancellations.
Move along now prole.
Funny CNBS's chart doesn't show that spike trade....
And....just in case you were short Zillow and sold, we have to cancel your trade. Can't let you make anything on our systems!
+1
Yes!
There's always room for Zillow.
Could be a great new slogan to relaunch with...
The sorceror's apprentice must have been experimenting when his back was turned.
Seriously, who would buy this (since you can glean a lot for free)? Is Zillow seriously going to gain market share around the globe to improve their share value? What is their actual income vs expenses? Oops, my bad for asking a "practical" question like that. I'm sure CalPERS loaded up on this baby already...
And in other news from the most distorted/corrupt markets in human history:
07-20 10:44: Fitch affirms News Corp's (NWSA) ratings; outlook stableI'm sure Prechter has a "wave count" explanation for that in his book...
He sure does, friend. It is called "Wave 6" otherwise known as wave good-bye.
we should have waved Goodbye to Prechter last year, he got every call on every Index wrong... ho hum!!
Maybe time to lose Steve Hochberg at EW though, he was wrong every week of 2010, never met a bigger loser than this throughout history... last prediction he gave before i junked the retarded fraudsters at Elliott Wave was Silver was heading to $20 in 2 months (ie. now)
Silver's at $40 Mr Hochberg not $20 (reality strikes/bites again!) ..ever met reality Hochberg, your predictions have never seen it coming or ever met
...nobody knows less about market direction and market timing than the delusional cretins at Elliott Wave ...King Prechter clinging to his throne, sorrounded by his doting minions, drowning in The Waves running in the opposite direction to his every protestation
Rob Prechter at his complete useless tosser, deluded EW wave count, technical indicator fuk-up best:
http://www.youtube.com/watch?v=Tz5PrY2gjz0
Who cares what a house's price is when you can live in it for free?
Interesting would be to know how many americans are not paying their mortgages and up to what point the fact is sustaining so far the deep down turn.
everyone has a "friend" who is not paying their mortgage, but of course when it comes to the individual the conversation quickly changes subject.......
Check out Tyler's report on the research that JPM's Michael Feroli released a couple of months ago. Seems to me it was about 50 billion per year worth of Apple Store and Abercrombie visits.
Even more suspect is all the "deadbeats" who claim, once they go into default, that it was elective. Sure it was, you couldn't have just blown up like everybody else, right? Just the kinda thing you wanna admit to your friends.
A lot of people are just fronting as playahs when, in reality, they just have nowhere else to go.
Nice sentiment, would that it were accurate. My county real estate tax collector is using some very different version of the meaning than you. So are the guys who fix leaking roofs, or bring heating fuel.
And at that, I run off solar power, so at least one bill is "free" - if you don't count time value of money.
Let's try that again. What are you meaning to say? You don't like the way America does business? In America, we use credit cards. And no, we don't pay those, either.
Nifty today ::
http://markettechnicals-jonak.blogspot.com/
I bet it was that e-trade baby fucking around with his margin account again....don't put it past him, he's a trader in training for the SEC intern program this fall.
SEC??? No way... The E-Trade baby is far too young for porn...
not any more. He is 32 now and works for Lul
Gambling fever in LNKD, P, Z, etc. is now at a fever pitch.
E-Trade revenues were up big, looks like Joe Six is stepping back into the NYSE casino.
Joe Six getting stock tips from Robo & going on margin...
What could possibly go wrong?
It must be because of the ""federal budget debacle"
http://i53.tinypic.com/23svuc6.png
Just to record for future reference.
..top tanking.
Perhaps the sentient viewed Arnie Gundersen's 07/19/11 update and fled to cover:
http://www.fairewinds.com/
Enjoy your day!
Z's drop was about equal to the drop in home value between the moment you sign to close on the house and milliseconds later.
Robot, did you sell your miners yesterday. Smart move huh.
We get gold back over 1,600 fasten your seat belts all. Weak holders and zippo traders gone, now back to basic or as I advised yesterday...."we now return to our regular programming."
Did you see the sharp selloff in silver after the Comex close? Goon squad roughs up the chumps?
Vacuum tubes are cool. They get real hot, they glow and pulse with an supernatural light and they smell funny after they have been working for an hour or so.
Kind of like Ben Bernanke in front of Congress.
volatility = quick & easy $$
Love it...
Can you imagine holding down a 30 year mortgage in today's economy? Or being married to the same broad for the rest of your life?
Man, how times change.
Can you imagine holding down a 30 year mortgage in today's economy? Or being married to the same broad for the rest of your life?
Yes on both and yes I do have them myself, and lovin them both, thank you.
13 years into my fixed rate, 30 year mortgage. 33 years into the same broad.
Both could use some upgrades.
Poor vacuum tube trader, alas we hardly knew ye.
Cramer explained this well in one of his books describing how Knight Trading handles IPO's when Street.com went public. They take all orders and put the market orders first, causing an opening spike as all the market orders execute at ever higher prices. Then the limit orders go in. Apparently its legal, but results in spike like this. Thus the old phrase about a fool and their money.
a homey just squatted in a 350k house in Dallas. Got it for $16.
This is a perfect example of a computerized operation that takes "other" public information, including property tax info, and gives you a valuation. This was a useful (maybe) tool when iPhone users who were searching for R/E drove thru neighborhoods in pursuit of the perfect property..... But in reality what this this service really worth, because it could be duplicated (via web access) by 2 college dropouts in some garage in Argentina.
Nillow.