All posts by Nathan Ruffing

Hyperinflation … of Stuff

You may have heard of or remember from history class stories of “hyperinflation,” where the value of money drops to zero. Above are the most iconic images of this concept that I can think of. They are from the post-World War 1 German Weimar Republic.

How does this relate to us here today? How does it relate to real estate? Real estate is expensive. Space is at a premium. We have so much stuff that we can hardly fit it all in! In my first year in real estate, this has been one of the most striking surprises. My clients, who are moving, try to sell their things. Beautiful china cabinets and kitchen sets cannot find space on the floor of a consignment shop.

Sellers are happy if somebody can come pick them up and take them away. Working refrigerators on Craigslist have to be dropped to $20 or even free to get rid of them. I sold a nice desk and perfectly good adjustable rolling office chair for $30, but had to let the desk go by itself for $20 and I even delivered it for the buyer.

No space for the chair! I let it go for free so that somebody would come and get it. Consignment shops, re-purpose stores, and Goodwill are jam packed with stuff and there are more re-use stores popping up all the time. “New Uses” in Columbus is the latest one that I know of. There are three locations.

Have you been to the dump lately? It costs anywhere from $10-$50 and they are getting more and more picky about what they take. That’s right. Even the dump is picky about what they take. There are only a few dump locations who will take items with refrigerant (Sims in Delaware has the required equipment) and I have yet to find one that takes old fluorescent bulbs.

What to Do?

Trade in used goods. Use Craigslist. Garage sales have great stuff now. Check out this post here for several good options. Get a deal on the purchase, because you may find that selling actually costs you more money!

Our Favorite Ski Locations

Holiday Valley snow report

Ski Resorts

  • Snowmass: 3,362 acres, 4,406ft vertical.
  • Vail: 5,289 acres, 3,450ft vertical.
  • Breckenridge: 2,908 acres, 3,398ft vertical.
  • Beaver Creek: 1,815 acres, 3,340ft vertical.
  • Keystone: 3,148 acres, 3,128ft vertical.
  • Stowe: 485 acres, 2,360ft vertical.
  • Snowshoe: 244 acres, 1,500ft vertical. Very difficult drive Greg says.
  • Holiday Valley: 290 acres 750ft vertical.
  • Seven Springs: 285 acres, 750ft vertical.
  • Wisp Mountain: 132 acres, 700ft vertical. Greg and Pat have been. It is an easy drive from the interstate.
  • Peak n Peak: 130 acres, 400ft vertical. Ed, Greg, and Thad have been. Good?
  • Perfect North: 100 acres, 400ft vertical. Rachel’s suggestion. 45 minutes west of Cincinnati.

Check out OnTheSnow snow report app. Pat uses it for snow storm alerts.

Click here for skiing tips from expert.

Property Value Reappraisals

Franklin County and surrounding counties are releasing their property value reappraisals in 2017. This includes Delaware County.

Franklin County

In Franklin County, you can see your new 2017 “Tentative Value” by searching your property on the auditor website. You can reach the property search page by clicking “Useful Links” on the menu on the left of this page. The Tentative Value report for your property gives information about the reappraisal process. If you choose to dispute the value, you can contact the Franklin County Board of Revision. Be sure to arrive with a professional appraisal, and if you own your property through an LLC, you must be represented by a lawyer.

Delaware County

You can search for your Delaware County new appraised value by clicking here.

Delaware County reappraisal information can be found by clicking here.

Straight to the Source

Several stats are most often quoted when talking about the real estate market. Current inventory, months supply of inventory, and median sale price, for example. How can you look these up yourself? You don’t have to be a Realtor® to do so. These stats are available on the Columbus Realtors® website.

http://www.columbusrealtors.com/stats

For example, we have heard that the inventory is low. How low is it exactly? Months supply of inventory is the number of months it would take for the current inventory of homes to sell given the current pace of sales.

  • In June 2017, Franklin County had 1.4 months of supply and Delaware County had 2.3 months of supply.
  • Central Ohio in general in June 2017 had 1.9 months of supply.
  • 6 years ago, in June of 2011, Central Ohio had about 10 months of supply.

Indeed, the inventory is low!

I had to go to the archive to get the 2011 statistic, but all are available at the link above.

America’s Eclipse!

Monday, 21 August 2017 at 1425 Eastern Daylight Time, Centered Near Cerulean, Kentucky

www.eclipse2017.org

Eclipseville, Hopkinsville, KY, home of longest totality and Eclipse Con

You have to see the total eclipse! This guy says it best: http://www.eclipse2017.org/2017/close_enough.htm

Click here for a NASA animation of the eclipse. You’ll see why it is America’s eclipse. It could not be better lined up for us.

Click here for a map with Zulu time. Subtract 4 hours for eastern daylight time. Subtract 5 hours for central daylight time.

How fast is the shadow moving? It depends. Answer

NASA Countdown

NASA Map

The Eclipses You (Might) Remember

10 May 1994. I was finishing 4th grade. I remember going outside with the glasses. The view was pretty good for Ohio. However, this was an annular eclipse only. NOT AS COOL.

30 May 1984: This was an annular eclipse that crossed the southeast US. Maybe some people remember? NOT AS COOL.

7 Mar 1970: This total eclipse moved up the east coast of the US. Partial may have been visible from Ohio. NOT AS COOL.

20 Jul 1963: This total eclipse crossed Canada. NOT AS COOL.

30 Jun 1954: This total eclipse started in the US, then went up over the north pole and ended in Asia. NOT AS COOL.

9 Jul 1945: This total eclipse started near Montana and ended in eastern China. Many Americans had a legitimate pass to not travel to Greenland to see this one. The world was kinda busy during July 1945.

7 Apr 1940: Annular eclipse that crossed Mexico, Texas, and Florida. The Nazis were in power, and Pearl Harbor was attacked 20 months later. Anyone drive south see this one? Comment below.

28 Apr 1930: This total eclipse crossed the US northwest less than a year into the Great Depression.

24 Jan 1925: This total eclipse started in Canada and crossed the northeast US.

8 Jun 1918: This total eclipse ended by crossing the US from Washington to Florida. World War I ended 5 months later. Hopefully you weren’t one of the 50 – 100 million people worldwide dying of the flu pandemic that was raging at the time. There are roughly 28 living Americans who were at least 11 years old that day.

22 Oct 2137 BC: 120 years more ancient to Jesus than Jesus is to us. Apparently visible in China, but an unfortunate surprise to the astronomers of the day.

Upcoming

It looks like we actually have some good ones coming up.

8 Apr 2024: Ohio’s eclipse.

12 Aug 2045: over 6 minutes of totality on this one.

What’s Normal, We’re Not

We are truly different. Our everyday lives are different. America is more different from every other country than any other 2 countries are from each other. Here is how:

1. Consumer Culture

Goods are so abundant and cheap that producers systematically create demand with advertisements. The result is bright colors everywhere representing the well-organized system professionally designed to make us want stuff. This is so omnipresent in our culture that we don’t realize that it’s there. Our system of advertisement reaches around the globe now, and it stands out everywhere else it appears (McDonald’s, Coke, Viagra, etetera).

2. Cars

We each have one. We drive mostly alone. Carpooling is the exception. We park close when we can, pay to when we can’t. Cars are our status symbol for which we spend 6 months to 2 years up to a lifetime of income.

3. Strong Institutions and Rule Following

We trust our institutions. From the government to our universities even to our franchises and brands like Coca Cola and McDonald’s. They consistently tax us, educate us, make our favorite treats, always convenient parking, meet and exceed minimum service standards, and a free bathroom when you need it.

We trust institutions over people. We will invest our life savings in a faceless stock in the stock market, but are much more hesitant to invest in a local business whose owner we actually know.

We stop for traffic lights with nobody around. We pay our taxes. Corruption surprises us. The roads are straight, fast, aligned at perfect right angles. We drink alcohol in specific regulated places at specific times. Next time you walk down the sidewalk in Las Vegas and think it’s cool that you can carry a beer with you, remember, that’s the only thing really normal about Vegas!

Some of these things seem unrelated, but I don’t think so. We are unique in having a mostly stable government that is older than the population, and we accept its authority. Most of us arrived since the constitution was adopted in 1789. Name another country in the world whose current government is older than its people. Egypt or China? Mexico? No. No. No. Any South American country? No. Some theocracy? No, not like us.

4. Sugar as a Food Group

You notice it in the people immediately upon arrival at a US airport.

5. Security

You probably won’t be robbed at a US airport, bus station, or in most public spaces. America has never been invaded. We expect security. We expect our government to counter threats, and it does.

6. Air Conditioning

We don’t just air condition for some comfort and relief. We refrigerate our spaces. Nowhere else in the world I have ever been can afford to do this, or has buildings air-tight enough for it.

7. Television

 

For better or worse, our lives are different. We adapt everyday. Adaptation is so ubiquitous we aren’t even aware of it. We are living an experiment from which came many of the greatest improvements in our lives, … but it is an experiment. It has not run its course. The US accounts for just 6.6% of the land area of the world. It has been less than 200 years since the industrial revolution, out of more than 1 million years of human history. As a population, as a culture, we are shocked, adjusting, and changing. We will not live to see the conclusion. The only thing known so far is that we are not normal.

I live in the US, but mostly without the things on that list. It is liberating to at least identify the ways in which we are different. They are the stressors in our lives. To see people shop as a hobby, drive, follow conventions, sip sugar water, follow years’ and decades’ worth of TV series, and refrigerate their living space is like stepping into a hyper-modern future world. You might think I’m crazy, but the reality is: we are.

When I arrived in Germany in December 2008 to backpack for 2 weeks, my first time leaving the country, I was shocked at how un-shocking things were. People were people, living like people. No big deal. I arrived in Afghanistan in January 2011 for a deployment. I remember that of course, but the adjustment there mostly involved the job to do. After a half year there, the real shock was returning home. The colors! The information! Options! What to do?! That returning home shock doesn’t seem to wear off. I have left the country for 6+ months 5 separate times now, to Afghanistan, Japan, and Brazil. Each time I return, I am shocked by how shocking it is to come home.

Over the last year or so, I have spent a lot of time listening to history lectures from the Greeks through today (I recommend The Great Courses, available on Audible, they are awesome). I started with world history for a while, then recently listened to 2 sets of lectures on American history. The shock is the same when learning about history. There is no precedent for America, neither from distant continents, nor from the distant past. America is America. It stands alone.

America is different. America is far from normal. Travel. Travel anywhere in the world, and when you see normal for the first time, remember that you are seeing normal outside the US. Only when you return will you see what is truly remarkable and special. America.

Ventures Update July 2017

695 Riverview Drive

I said I would never live in it. I live in it now. I said I would never manage it myself. I manage it now. So glad. Awesome location, saving money, and making money all at the same time.

Real Estate Agent

What a great deal. I highly recommend becoming an agent. It costs ~$2,000 and a couple evenings a week for 2 months. You learn a ton about something that affects everybody. $2,000 is the commission on a $70,000 house. Worth every penny.

Kineomen

Kineomen has several balls in the air. Each is unique. Success in any single venture would be very good. They are all early stages, but each is going well.

Park City Holdings

Park City Holdings will invest primarily in mortgage instruments, focusing on discounted non-performing mortgages.

Simple Kneads Gluten-Free Bread

Simple Kneads continues to grow into its vision of becoming the national gluten-free brand.

Vino de Coco

I still plan to visit the Philippines.

Other

www.coldcall.tv

www.youtaxi.tv

I started a small art gallery in my apartment:

Videos

I have decided that videos are the way to communicate on the internet. I tried making a “no more writing” rule and only do video. However, videos take time and I have a minimum quality level that I’m willing to put out there. I am hiring a video producer ASAP, starting with a college student at $12 / hour.

Around the World in Columbus

I want to do a video series of interviews with immigrant restaurant owners in Columbus, Ohio. Columbus is often considered the token “boring city,” but we are a melting pot with many interesting stories waiting to be told! I am considering taking a film class to give me the connections required to take on this project.

The Stock Market

I have closed my retirement accounts in favor of actively managing the money and accepting that I will pay taxes.

You Taxi Advertising

Have you ever tried to make an advertising video? I have. It is difficult. What is even more difficult is to make it look natural and compelling.

www.youtaxi.tv

Gives you the chance to give your 2-minute taxi sales pitch to the whole world in a natural setting that viewers are well accustomed to seeing (the back of a taxi). The driver records a natural conversation with you asking about your product or service, takes down some of your some basic information, you sign up for a unique link to your video (youtaxi.tv/RR34 for example) and youtaxi.tv hosts your video for $5 per month. Share it with your friends, or even start an ad campaign that links to your simple video. Scale that taxi sales pitch!

Buying a Condo?

Ask your real estate agent about the “condominium checklist” provided by the Columbus Board of Realtors®. It gives you a list of documents that your seller should provide to review before purchase.

For example, you should get a copy of the condo association by-laws so that you know rules like if renting your unit out is allowed, and also be able to see the finances of the condo association to verify that they are in good standing.

Click here for all real estate posts on this site.