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June 2023 Heritage Signature Auction #7340
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566 posts in this topic

On 6/21/2023 at 12:06 PM, comix4fun said:

I totally thought one of those was going to be "Curvaceous" ....dammit. 

I thought you were going to go with a different CU.. word lol 

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On 6/21/2023 at 12:55 PM, batman_fan said:

From my personal perspective

 

2.  Real Estate - will let you know, we are selling a condo that has appreciated significantly from when we bought it ~ 4 yrs ago.  We remodeled it before putting it on the market.  The trades expense was definitely higher that prior ones we have flipped, but scheduling was easy enough we went from start to finish in just over 2 weeks.  That was rip out everything and replaces everything (literally).  Everything was readily available versus ~1 to 2 years ago where is was hard to get a lot of stuff. Material cost including appliances was definitely down from the peak.

 

Real estate is likely to have multiple segments each giving their own signs of strength and weakness. You're in a good segment with the condo sale. I'd wager if it's well-priced you'll likely get people fighting to overpay right away. 
*Places Real Estate Nerd Hat on His Nerd Head*
Local to me, residential real estate is insanely on fire for anything from $200,000 to $900,000 (which gets you either a starter home in the sticks up to a nice 4 bedroom in a suburb with good schools) having mortgage rates trending 3-4 percentage point above the last several years has slowed down absolutely nothing in that range. It's all counter-intuitive when experienced agents, brokers and attorneys try to compare it to almost any other time in the last 30 years. 
Commercial real estate is a different monster. Urban center office and retail is sending off every negative signal you can imagine. None of it is really tied to market, inflation, or any of the other traditional indicators. We're still feeling the after-effects of Covid closures and offices seeing the economic benefit of a smaller office footprint and, as their leases expire (five year leases signed just before Covid are going to be coming up soon) in rolling fashion over the next few years we're going to see massive vacancies and greatly reduced psf rates. We just negotiated with several office buildings for our firm's space and secured a 30% all-in cost psf reduction over the current lease without really pushing. 
Declining office density will impact office buildings for sure. but the lower density absolutely guts urban center retail that depends on extremely high daily volume monday-friday to make the high rent psf and weekend dead zone. Without full office buildings they can't get close the break-even volume. Suburban retail seems to be doing well and rebounding nicely, their nut isn't nearly as high as something in a Central Business District of a major city. 

But I have a feeling you're going to kickass on that condo sale. 

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On 6/21/2023 at 7:05 PM, delekkerste said:

For me, Frazetta art is all about the "three Cs" - Conan, Conan, Conan, in that order. lol 

I agree with this. Still think Death Dealer is THE Frazetta character and DD1 the most iconic Frazetta work. Conan covers a close second.

In the DK vs EQ debate, I hesitated to post this but why not. Fellas with kids and spouses may get a side eye for hanging EQ above the kitchen table. EQ also has the racial angle going for or against it, which just reared its head again with the Netflix show (apparently). Frazetta painting African folks also has something of a different nuance to it post some of the Doc Dave "revelations". I can't help but look at things slightly differently now. All DK has going against it is the testicle... Molly Hatchett>Eerie cover. 

My 2 cents. Hope this doesn't get political...

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On 6/21/2023 at 8:55 PM, batman_fan said:

From my personal perspective

1.  Stock market, killing it.  Accounts are way up, partially because I have a heavy presence in AI based upside companies.

2.  Real Estate - will let you know, we are selling a condo that has appreciated significantly from when we bought it ~ 4 yrs ago.  We remodeled it before putting it on the market.  The trades expense was definitely higher that prior ones we have flipped, but scheduling was easy enough we went from start to finish in just over 2 weeks.  That was rip out everything and replaces everything (literally).  Everything was readily available versus ~1 to 2 years ago where is was hard to get a lot of stuff. Material cost including appliances was definitely down from the peak.

3.  High tech hardware side - definitely seeing a decrease in demand, largely driven by customers over buying and now have a lot of inventory to burn off.  If the slowdown in tech continues, my company will see some decline in revenue.

Been looking for a second house nearish an east coast beach and its brutal. Zillow past home sales are meant to make you feel awful about what could have been, insane runups and little cooling off where I am looking.

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On 6/21/2023 at 10:52 AM, delekkerste said:

The Astros suck. :fear: 

True statement.

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On 6/21/2023 at 3:00 PM, cstojano said:

Been looking for a second house nearish an east coast beach and its brutal. Zillow past home sales are meant to make you feel awful about what could have been, insane runups and little cooling off where I am looking.

Don't forget to add the $5,000-$10,000 annually for hurricane/wind/flood insurance... many forget this

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On 6/21/2023 at 12:44 PM, comix4fun said:

Real estate is likely to have multiple segments each giving their own signs of strength and weakness. You're in a good segment with the condo sale. I'd wager if it's well-priced you'll likely get people fighting to overpay right away. 
*Places Real Estate Nerd Hat on His Nerd Head*
Local to me, residential real estate is insanely on fire for anything from $200,000 to $900,000 (which gets you either a starter home in the sticks up to a nice 4 bedroom in a suburb with good schools) having mortgage rates trending 3-4 percentage point above the last several years has slowed down absolutely nothing in that range. It's all counter-intuitive when experienced agents, brokers and attorneys try to compare it to almost any other time in the last 30 years. 
Commercial real estate is a different monster. Urban center office and retail is sending off every negative signal you can imagine. None of it is really tied to market, inflation, or any of the other traditional indicators. We're still feeling the after-effects of Covid closures and offices seeing the economic benefit of a smaller office footprint and, as their leases expire (five year leases signed just before Covid are going to be coming up soon) in rolling fashion over the next few years we're going to see massive vacancies and greatly reduced psf rates. We just negotiated with several office buildings for our firm's space and secured a 30% all-in cost psf reduction over the current lease without really pushing. 
Declining office density will impact office buildings for sure. but the lower density absolutely guts urban center retail that depends on extremely high daily volume monday-friday to make the high rent psf and weekend dead zone. Without full office buildings they can't get close the break-even volume. Suburban retail seems to be doing well and rebounding nicely, their nut isn't nearly as high as something in a Central Business District of a major city. 

But I have a feeling you're going to kickass on that condo sale. 

In our area we are seeing residential prices above 2 million having resistance but stuff in the 1 to 2 million is moving especially if it is in decent shape.  I see a ton of commercial office available, especially where my office is but they have just broken ground for a huge new commercial development with a multi-building complex.  This is in an area that has to be around 50% occupied buildings already.  I assume the development was already locked in and financing secured because I can’t imagine moving forward with it in todays environment.

Fingers crossed on the condo.  Have quite a few showings and questions from potential buyers coming in.

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On 6/21/2023 at 10:28 PM, KirbyCollector said:

Don't forget to add the $5,000-$10,000 annually for hurricane/wind/flood insurance... many forget this

Because I plan to not be there half the year, I have been leaning toward condo/townhouse arrangements. The monthly fees are also just insane, to add to the perpetual costs of ownership of coastal properties.

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On 6/21/2023 at 3:00 PM, cstojano said:

Been looking for a second house nearish an east coast beach and its brutal. Zillow past home sales are meant to make you feel awful about what could have been, insane runups and little cooling off where I am looking.

Interesting to hear that POV.   Where I am there’s a hard line in the sand price point wise and things below that line are hot and things above that line are cold due to high mortgage rates.

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Anyone have their sights set on any items in  Day 1 of the auction? 
I'm just observing today; tracking a couple smaller pieces that go up on Sunday.

particularly interested to see where that Kamandi Kirby splash ends up ...

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On 6/22/2023 at 9:13 AM, fsumavila said:

Anyone have their sights set on any items in  Day 1 of the auction? 
I'm just observing today; tracking a couple smaller pieces that go up on Sunday.

particularly interested to see where that Kamandi Kirby splash ends up ...

There's stuff I'd like (Jim Lee Hush cover), but nothing I could realistically win, so i'm just an observer.

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