A Busy Week

An interesting thing is going on here in Silicon Valley real estate. Prices for small multi family buildings are in the sink. For example, a duplex in San Jose that sold for 600,000 in 2006 sold this week for 320,000. But rents have fallen only about 10%. So, we have been looking to buy. We were approved for a loan on a tri-plex on Wednesday. But by the time we were finished getting everything together the building sold to a buyer for cash. The same thing happened with another building we looked at. But this last one we didn't even get the paper work started before someone else paid cash for it. The price was even bid up by several people throwing cash around. The seller's agent said,"I don't know where people are getting all this money. It's like they haven't heard there is a recession." So,we are still looking, but not as hopeful as we were last week. We might have to look for a multi-family in another city. I'm thinking a tri-plex or a 4-plex with only 2 bedroom units, within walking distance of a university. That will let us bring in more cash per unit but allow for roommate situations which makes renting easier. The only drawback will be haviIwe can manage it myself. But that might not be possible.

In other news, I began buying textbooks for grad school yesterday. That was much fun. Some I can get from the Stanford's Greene library. That is especially much fun. The Greene Library is an interesting building and the library is full of fascinating books. Also, it saves me seventy dollars.

Anselm Samuel and I went to see Yankee Doodle Dandy at the Stanford Theatre tonight. It was a really good movie. I had been singing many of the song in it my whole life but never knew their origin until tonight. When the film (an original print from 1942) was over Anselm declared to me while clapping very enthusiastically, "Dad that was a great movie" and then while we were swalking through the lobby toward the exit he said, "That was good. I'll give it five stars. If it were possible I'd give it a thousand." I think I have to agree with him.