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02-06-2021, 05:40 PM | #9926 |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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I personally do target date funds in tax-advantaged accounts, so that there are no possible wash sale issues with VTI, etc. in my taxable account.
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02-06-2021, 11:58 PM | #9927 | |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Quote:
Seeking pre-approval for $685k as with 20% down against that that'd result in a mortgage of $548k, which nestles nicely just under the Grand County 2021 conforming limit. At/under that limit there's actually good competition for business even for second homes. Bankrate had an outfit offering 2.500% flat (0 pts, 30 years fixed) but they have higher fees, in my experience, plus they are also super annoying about pestering one with phone calls and the like. I put in an application with NASB, advertising $750 or so in fees including appraisal, 2.625% flat at the same terms as above. I included in the comments that I'd be coming up with $100k of the down payment via loans from my 403(b) and 457(b) plans. Perhaps the underwriters will see that and shoot down my plans for the better. Perhaps it'll fly. 'tis a low risk first step in any case, along with transferring the remainder of the hypothetical down payment from an 82% stock Betterment goal to a 5% stock goal for the moment. |
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02-07-2021, 01:15 PM | #9928 |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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This morning I put in an application with Pennymac directly as they did well by me with this latest/current primary home refi.
Pennymac rates FTW. 29 year fixed (yes, not 30–better rates). 2.500% with $3,137 in points, but that offset by $2,700 (0.5 point at $540k financed, 80% LTV) in lender credit. No origination fee since I'm a current customer. Apparently this includes a surcharge (0.125% is my guess) for it being a townhouse, too, which one could avoid either with a SFH proper or putting 25% down instead. Amazing rates, these. |
02-07-2021, 03:08 PM | #9929 |
Scooby Specialist
Member#: 453
Join Date: Oct 1999
Location: ***23567;***12373;***12356;***
Vehicle:2020 Kia Telluride 2021 Porsche Taycan |
Good ol Penny Mac, I'm probably on my third mortgage with them currently, thankfully able to us the same online account login for all of them.
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02-08-2021, 12:03 PM | #9930 | |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Quote:
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02-08-2021, 12:05 PM | #9931 |
Scooby Guru
Member#: 16840
Join Date: Mar 2002
Location: CO
Vehicle:17 4Runner |
I'll loan you $50k for a shark tank deal and a bit of use of the condo.
Better leave enough cash left to buy yourself a DH mtb. |
02-08-2021, 12:20 PM | #9932 | |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Quote:
That $50k was magic because the interest would have been repaid back to me! Inventory is low anyway. I've been emailing a local-up-there realtor and he says April is when people start listing in earnest post-ski season. |
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02-09-2021, 02:20 PM | #9933 |
Scooby Newbie
Member#: 107150
Join Date: Feb 2006
Chapter/Region:
TXIC
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Is investing in gold (or a gold ETF) a good way to hedge against inflation as a long term investment? It looks like gold is slightly off its high at the moment.
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02-09-2021, 03:08 PM | #9934 |
Scooby Newbie
Member#: 167468
Join Date: Dec 2007
Chapter/Region:
TXIC
Location: H-Town
Vehicle:2004 STI White-ish |
Don't do that. Repeat, do not do that. Bonds would be a much better choice if you are skittish about stocks. If you want to burn money, I can give you guidance on less painful means.
Gold is not high due to demand, it is just a hedge against the USD in uncertain times. It is not an investment as much as it is a gamble on the forward value of the USD. |
02-09-2021, 03:38 PM | #9935 |
Scooby Specialist
Member#: 304128
Join Date: Dec 2011
Location: Baltimore
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Dont be a dummy. Don't buy gold.
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02-09-2021, 04:11 PM | #9936 |
Scooby Newbie
Member#: 203905
Join Date: Feb 2009
Location: MI
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02-09-2021, 04:15 PM | #9937 | |
Scooby Guru
Member#: 30342
Join Date: Nov 2002
Location: #blp
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Quote:
Silver is a heavily manipulated market. If you want to hedge against inflation, look into TIPS. |
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02-09-2021, 04:57 PM | #9938 |
Scooby Newbie
Member#: 152718
Join Date: Jun 2007
Chapter/Region:
South East
Location: Huntsville, AL
Vehicle:2019 GTI White |
I have a couple pounds of physical silver just because I think it's neat. That's about as far as I'm willing to invest in it.
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02-10-2021, 03:59 PM | #9939 |
Scooby Newbie
Member#: 203905
Join Date: Feb 2009
Location: MI
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Interesting article from Motley Fool. - "How to earn more than $2MM for retirement"
https://www.fool.com/investing/2021/...mpaign=article Clif notes: - start early - invest money into index funds - assume 10% annual rate of return If only it was common sense to save money to have it later. |
02-10-2021, 04:04 PM | #9940 |
Add Lightness
Moderator Member#: 13699
Join Date: Dec 2001
Chapter/Region:
NESIC
Location: Hopkinton, MA
Vehicle:2021 Building It Better |
Sold the rest of my Morgan dollars today along with a random bag of wheat cents. My eScrap yard also does coins. Oh....brought over random boxes of aluminum and steel too.
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02-11-2021, 01:18 PM | #9941 | |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Quote:
They way they structure it is one loan at the conforming max, which is $548,250 for Grand County (and most counties) this year. They quoted 0.095% in points for a 30 year fixed x 2.750% rate for this portion, but that $520.84 is offset by a $666.65 "aggregate adjustment" downward, which is just a lender credit, I guess. Fees are a bit high, which reflects them taking some profit on this niche product: - $1,095 processing fee - $920 appraisal - random fees: $50 closing protection letter, $100 doc preparation fee, $510 settlement closing fee - $1,615 estimated lender title insurance, also on the high side, no? What he'd said before for the second mortgage that'd take it from the conforming limit to just under 90% LTV was that that one would be 6%, interest only. (Again, I'd paid this down in probably two years in most scenarios.) So I'd be paying for getting a place a year earlier. I'll try to stick to something cheaper and go for a conventional 80% LTV loan but if it comes to this then I'm ok with it, knowing that there's a price. And that I can refinance down the road. |
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02-11-2021, 01:22 PM | #9942 |
Scooby Guru
Member#: 16840
Join Date: Mar 2002
Location: CO
Vehicle:17 4Runner |
I wonder with inventory/demand what you’ll find. I’m thinking the demand this spring will be high with people having more remote work options going forward.
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02-11-2021, 01:27 PM | #9943 |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Inventory on Zillow is certainly low as compared to the fall. Hopefully some more listings in April when ski season ramps down! I'd love to have the place for the summer as well: get it furnished if that's not thrown in, and just relax up in the mountains/horse riding for elder kids/biking/hiking.
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02-11-2021, 01:33 PM | #9944 |
Scooby Newbie
Member#: 12271
Join Date: Nov 2001
Location: Colorado
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I've been watching RE up there daily for 6 months now and every property that comes on the market moves very fast and there haven't been that many good ones sub 600k IMO. I think COVID sparked demand is just as high and I think that's led to some definite price increases. Heck just in this thread there are three of us that are actively looking up there and at least two that could be ready to buy anytime, I think there's still a big pent up demand and attitude of people with means that they won't be traveling so they may as well go for that second home. All that said I don't necessarily see a dip in value so all the above doesn't mean it's a bad time to buy just not a time to find a deal.
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02-11-2021, 06:25 PM | #9945 | |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Quote:
https://www.zillow.com/homedetails/4...79482296_zpid/ 5/21/20 listed at $785k 7/16/20 pending at $759k, fell through 8/7/20 pending at $735k, closed on 9/20/20 at $725k ultimately. |
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02-11-2021, 06:38 PM | #9946 |
Scooby Guru
Member#: 16840
Join Date: Mar 2002
Location: CO
Vehicle:17 4Runner |
No idea about building costs but there are lots by Granby Ranch that look interesting. I’d kinda looked at that for a bit.
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02-11-2021, 06:46 PM | #9947 | |
Scooby Specialist
Member#: 304128
Join Date: Dec 2011
Location: Baltimore
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Quote:
https://www.cnbc.com/2021/02/10/lumb...ing-costs.html |
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02-11-2021, 06:51 PM | #9948 |
Scooby Guru
Member#: 16840
Join Date: Mar 2002
Location: CO
Vehicle:17 4Runner |
I think shik needs a “Grand County investment property for shik” thread.
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02-11-2021, 07:33 PM | #9949 | |
Scooby Guru
Member#: 92634
Join Date: Aug 2005
Chapter/Region:
RMIC
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Quote:
https://forums.nasioc.com/forums/sho...php?p=46515006 |
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02-12-2021, 12:16 AM | #9950 |
Scooby Specialist
Member#: 52314
Join Date: Jan 2004
Chapter/Region:
South East
Location: Following the green weenie
Vehicle:... 02 and 04 WRXs! 2020 G70 3.3T RWD |
Generic taxes owed gripe.
Last edited by 340Duster; 02-12-2021 at 08:11 AM. |
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