Russ selling his Denver house...

[Kamcussionator]

I believe he was the last full time 2 way player also.

Are you not counting Sam Howell? 21 INTs means he played more defensive snaps than Jamal Adams last year…

 

[Lagartixa]

View attachment 65063View attachment 65064

Hawksome!!

I love that video so much. Easily the greatest lottery ad ever made.

I can find the video online (on the page linked here, for example), but I can't find a way to download a copy for myself or even embed the video in this comment. The YouTube video I had linked in the past is now private.

While searching for it just now, I found these gems too...

 

[bmorepunk]

I think it depends upon many things. Sure, as a general rule housing prices go up over time, as they have especially done so in, say, the last 7-8 years or so. But I'd be curious about those ultra costly vanity estates, that very tippy top tier. Why is it that I read time after time where some ultra rich celebrity paid up big for some vanity estate and when it came time to sell, it's either on the market forever, or they end up listing it/selling it below the price they paid for it, even in times of economic growth?

People often vastly overestimate the "investment" angle on real estate. They forget about transaction costs, inflation, and the secondary costs of actually owning the place (necessary upkeep, taxes, spouse wants to drop $75,000 on an unnecessary kitchen remodel). I think a lot of people would be surprised if they go plug in their house purchase price and month/year into the CPI calculator and see what it is today. Some people bought in places that shot up, but the vast majority are hanging around the same price they bought it for. You buy a house to live in because you want to do your own thing (you control it, you are in a good school district, etc), have more space, and have stability. If you stay in it for 30+ years and do the minimum to keep it in good shape you can get ahead. It's a good forced savings for people once they stay in it long enough (where you have a not great investment give you cash flow because you're not paying someone else to live somewhere).

If Wilson was focusing on investing, he would have spent way less on something and investing his money in an stock market index. Renting would probably be a clear winner for him based on the window; unless he was planning on keeping a home base in Denver through old age it's not an optimal investment. But he wanted a pad to live like a baller in, not an actual investment.

The capital gains tax is mentioned above: this is limited to $500,000 of profit for a married couple; this starts to turn into a drop in the bucket in this situation. Somebody correctly mentioned that it has to be a primary residence for two years (two of the last five years). But this property was bought with Duchess Investments LLC; that makes them ineligible to use this exemption even at two years.

 

[bileever]

Both homes together valued around 50M, including 19 bathrooms.
If I contributed every cent of my income for five hundred years I could own them, I'd probably still piss off the back porch though.

I just have to say: you now have 12 bathrooms and still using the back porch?

 

[Seahawkfan80]

Has he sold all his 3lieve shirts? Has the backup shirt been created yet?? 3leave???
LMAO

 

[JustTheTip]

People often vastly overestimate the "investment" angle on real estate. They forget about transaction costs, inflation, and the secondary costs of actually owning the place (necessary upkeep, taxes, spouse wants to drop $75,000 on an unnecessary kitchen remodel). I think a lot of people would be surprised if they go plug in their house purchase price and month/year into the CPI calculator and see what it is today. Some people bought in places that shot up, but the vast majority are hanging around the same price they bought it for. You buy a house to live in because you want to do your own thing (you control it, you are in a good school district, etc), have more space, and have stability. If you stay in it for 30+ years and do the minimum to keep it in good shape you can get ahead. It's a good forced savings for people once they stay in it long enough (where you have a not great investment give you cash flow because you're not paying someone else to live somewhere).

If Wilson was focusing on investing, he would have spent way less on something and investing his money in an stock market index. Renting would probably be a clear winner for him based on the window; unless he was planning on keeping a home base in Denver through old age it's not an optimal investment. But he wanted a pad to live like a baller in, not an actual investment.

The capital gains tax is mentioned above: this is limited to $500,000 of profit for a married couple; this starts to turn into a drop in the bucket in this situation. Somebody correctly mentioned that it has to be a primary residence for two years (two of the last five years). But this property was bought with Duchess Investments LLC; that makes them ineligible to use this exemption even at two years.

Bought my first house in 2000 for 176k and sold it 4.5 years later for 280k. Probably put 25k on improvements in it in those 4 years (I do most things myself instead of hiring people to do it, so that is likely significantly less than most would have spent for the same improvements.

Bought my secondd house coming out of that house for 400k closing in late 2005. Put around 60k into that one over 16 years and sold it for 800k in mid 2021 (just got in on the trail end of the hot market). Some luck involved for sure, but you can definitely come out ahead both short term and mid term. Both were cookie cutter neighborhoods.

 

[olyfan63]

Bought my first house in 2000 for 176k and sold it 4.5 years later for 280k. Probably put 25k on improvements in it in those 4 years (I do most things myself instead of hiring people to do it, so that is likely significantly less than most would have spent for the same improvements.

Bought my secondd house coming out of that house for 400k closing in late 2005. Put around 60k into that one over 16 years and sold it for 800k in mid 2021 (just got in on the trail end of the hot market). Some luck involved for sure, but you can definitely come out ahead both short term and mid term. Both were cookie cutter neighborhoods.

I looked at houses with my ex-wife in 2005-2006, and 400K then could buy a pretty decent house, like 4000 sq ft or so. 800K in 2021 sounds about right. In real estate, timing is everything...

 

[MyrtleHawk]

Russell Wilson doing Russell Wilson things...



Telling other people things to spread around instead of doing it himself so he doesn't look like an asshat. Definitely don't miss that.

 

[JustTheTip]

I looked at houses with my ex-wife in 2005-2006, and 400K then could buy a pretty decent house, like 4000 sq ft or so. 800K in 2021 sounds about right. In real estate, timing is everything...

If I had got it on the market 2 months sooner or probably would have been 50k more. Right before I put it up, houses in the area were selling in less than a week with bidding wars putting the price well over asking. Mine took 3 weeks to get an asking price offer.

 

[fenderbender123]

It would be interesting to see a detailed study of all the factors that have made houses cost so much more.

Why material prices have gone up so much, and never back down.

Why lots are so much more expensive even though there is still tons of bare land in this country.

Regulations?

It just seems like as time goes on, and technology advanced, efficiency should increase. Our ability to obtain raw materials should be more efficient, which should lower the cost of them, no?

Zoning laws? Building regulations? How have these influenced costs?

I dunno. It's not a good place to be for people looking to buy their first house. Or even rent.

 

[toffee]

Bought my first house in 2000 for 176k and sold it 4.5 years later for 280k. Probably put 25k on improvements in it in those 4 years (I do most things myself instead of hiring people to do it, so that is likely significantly less than most would have spent for the same improvements.

Bought my secondd house coming out of that house for 400k closing in late 2005. Put around 60k into that one over 16 years and sold it for 800k in mid 2021 (just got in on the trail end of the hot market). Some luck involved for sure, but you can definitely come out ahead both short term and mid term. Both were cookie cutter neighborhoods.

Congrats!!! But there are markets in certain states that didn't realize these type of gain, I have friends that own their home for decades and realized relatively marginal gains. On the other hand, my home in Silicon Valley, from 1997-2024, almost 10 times.

 

[ZagHawk]

I do wonder for the Seattle-Area if the ultra rich (those who can afford a 10+M home or extra property), if that population is growing in amount or wealth? I mean in places like Southern California it's definitely not an issue, but I just hear about big names leaving this area, not coming in.

Also not a tax expert, maybe it doesn't matter if/when they sell at a loss and can claim loss on it?

 

[ZagHawk]

RW also did a really good job...DESTROYING his brand. Like outside of finishing LOB era signed by all the Seahawks collector memoribilia...I don't know many who want anything associated with him. Don't want his clothes, new autographs, would not want to listen to him on radio or podcast...etc. He either hired a really terrible PR person...or he should have listened to him/her.

 

[MizzouHawkGal]

I'd listen to him but LOVE when the Broncos suck and hate Sean Peyton and think Russell Wilson is a total fake and gives Christian people like myself a worse path to overcome.

 

[chris98251]

I do wonder for the Seattle-Area if the ultra rich (those who can afford a 10+M home or extra property), if that population is growing in amount or wealth? I mean in places like Southern California it's definitely not an issue, but I just hear about big names leaving this area, not coming in.

Also not a tax expert, maybe it doesn't matter if/when they sell at a loss and can claim loss on it?

Yes that base is growing and expanding, we bought our house last year and it has went up almost 60,000 in one year, we have 100,000 in equity already.

 

[RiverDog]

The housing market in WA is very tight. My property tax went up 90% in one year, and that was w/o any improvements being made. My appraisal went up 74%, a reflection of the increase in housing prices. Statewide, the inventory is down 8.6% in one year and houses are on the market for an average of 17 days. It's definitely a seller's market.

 

[chris98251]

The housing market in WA is very tight. My property tax went up 90% in one year, and that was w/o any improvements being made. My appraisal went up 74%, a reflection of the increase in housing prices. Statewide, the inventory is down 8.6% in one year and houses are on the market for an average of 17 days. It's definitely a seller's market.

Our Realtor posted a Joke the other day, If you find a House and the Husband doesn't like it, find a new husband you like, it's easier then finding a House in this State.

 

[94Smith]

You guys love to bad mouth him but you will all be weeping like school girls when he is inducted into your ring of honour.

 

[RiverDog]

You guys love to bad mouth him but you will all be weeping like school girls when he is inducted into your ring of honour.

Not me. If I'm in the stadium, I'll give him a standing ovation, and I've been one of his harshest critics over the past 5 years, and I don't think I'm speaking only for myself.

 

[toffee]

Sounded like Wilson and Broncos are parting company, just a matter of out right release or a trade?