Oh hey everybody! Excuse us we had a little recess there.
So, I have a question, Jeff. So the median house prices have gone up 34% since last year. Did I miss it? Did I wait too long to buy?
Wait, it went up 34%?
Yes!
In Phoenix?
Yes!
Can you show me a chart?
I don’t do charts, but your gonna have to trust me.
Alright. Okay, so if in 2006 you bought a house for $200,000.00, this stack (of cups) here is going to represent $200,000.00.
Okay? Let’s fast forward to 2009 or 2010, and then now the market’s gone down 65% (takes part of stack of cups away). And now your $200,000 house is worth $70,000.
So Ashley, you said the market went up 30%!
That’s right, 34% as a matter of fact.
So, 34% of that is (ads short stack back to stack of cups) up to there?
Oh, ok so maybe I didn’t miss it, or did I?
But it’s 34% of this number -oh the smaller number.
So when you say 34%…people ask us all the time, when you say 34% uh, that means I missed it? And I can’t buy at the bottom anymore.
So what I have to ask you is, first quarter it goes up a little more…2nd quarter it goes up a little more-still think you missed it?
Did I miss it? Not yet (adds a cup several times) still not yet. What about now? Still haven’t missed it.
(After several more cups are added) I haven’t missed it yet…still haven’t missed it. I’m really procrastinating….
What year are we in now?
We’re in 2016 or 2017…
Oh all right.
The point being, you know we love the cup theories. The point is, with every month that goes by, with 2% appreciation right now. Or 3% or 4%…you are starting to miss it, so you better get on board, because time’s a-wastin’!
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