Comments | 1oshminki: condominiums

1oshminki

condominiums

May 14, 2006 19:13

what a racket ( Read more... )

Comments 6

snowballtoss May 15 2006, 05:05:59 UTC

I'm with ya there. I had a prof who explained condos best: one buys airspace in a specific coordinate within the building. Because one doesn't really own any physical asset. The walls are communal, the halls are communal, etc. One just owns the air within a specific set of walls. I don't see a point in buying at this point, esp. considering the likelihood that those same or similar condos will be the same price or cheaper next year.

Is there anyone out there (besides a real estate agent trying to sell you something right now) that's going to stick their neck out & claim prices will continue to go up with rates at 5% and possibly climbing even higher. Look at the homebuilder stocks. the put buyers have made a lot of money.

1oshminki May 17 2006, 23:40:37 UTC

did you hear, they announced the closing of rancho today - set to happen at the end of august ... I'd email you direct but I can't find/remember your address

snowballtoss May 17 2006, 18:39:54 UTC

just heard word that ET Rancho will cease after Aug 31

1oshminki May 17 2006, 23:41:19 UTC

guess you're three steps ahead of me eh?

Rancho Closing westgard May 18 2006, 00:06:39 UTC

Yep most will be gone by Aug 31st, others in Oct. If if follows the clearing move out it will trail out until Dec. They are treating us well with 2 weeks for every year served and paying for health care (same as current) until Dec 31st. Us in IT have been told to look for other opennings listed around the company. Most in IT will not be moving.

Re: Rancho Closing snowballtoss May 18 2006, 00:44:16 UTC

This was probably the worst kept secret at the site. The version I heard was that Aug 31 was the drop-dead date and that there would be nothing left after that. The severance is typical amount, 1 paycheck for every year worked, with a minimum of 1 paycheck for the recent hires (are there any?) I have not heard if they are going to prorate any bonuses for 2006. The 2005 group got their bonuses included in the severance. Have ya noticed that layoff notices are always on Tues? The Corp Sec people have already started using up their sick time.