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09-21-2006, 03:50 PM | #1 | |
*** Banned ***
Member#: 41300
Join Date: Aug 2003
Chapter/Region:
Tri-State
Location: Midtown West (Lincoln Center)
Vehicle:2000 New York MTA |
Real Estate: Up! Up! Up! That's the only direction it goes
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09-21-2006, 04:33 PM | #2 |
Scooby Specialist
Member#: 70272
Join Date: Sep 2004
Chapter/Region:
MWSOC
Location: Chicago
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Here's your chance to buy a house. Just buy it and buy the put on the future and you're hedged.
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09-21-2006, 04:39 PM | #3 |
Scooby Specialist
Member#: 64219
Join Date: Jun 2004
Chapter/Region:
Tri-State
Location: NNJ + NESIC Interloper
Vehicle:2011 Outbackness 2008 Legacy NA Hellastock |
Yawn....again....
Bought almost a year ago at $375, NNJ outside NYC. Similar homes on my street have sold in the last 60 days for $425. For someone who can't afford the $600 median household price of Westchester, NYC, or Long Island, the area I live in represents a value. Location, location, location. |
09-21-2006, 04:48 PM | #4 |
Scooby Specialist
Member#: 33246
Join Date: Feb 2003
Chapter/Region:
NESIC
Location: Where ever I lay my hat is my
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09-21-2006, 05:03 PM | #5 | |
Scooby Specialist
Member#: 34474
Join Date: Mar 2003
Chapter/Region:
NESIC
Location: N. Kingstown RI
Vehicle:2oo4 WRX PSM Sedan 2oo3 MINI cooper RED/WHT |
Quote:
Rent in 1 year: $10,800 Lived in house for 2 years, so that means we saved 21,600, but if we lost the 8.2% we'd "lose" $21,730... Again, that's worst case, IF we were to sell which we aren't... Yes I know another %6 for commissions would come out of that too. |
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10-26-2006, 11:53 AM | #6 | |
Scooby Specialist
Member#: 71795
Join Date: Oct 2004
Chapter/Region:
NESIC
Location: Thread Improvement Task Force
Vehicle:2006 Impreza WRX5spd FREAKIN' BLUE!!! |
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10-26-2006, 12:03 PM | #7 |
Scooby Specialist
Member#: 42714
Join Date: Sep 2003
Chapter/Region:
Tri-State
Location: Apalachin, NY
Vehicle:'07 BMW 335i E90 |
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09-21-2006, 05:06 PM | #8 | ||
Scooby Newbie
Member#: 8490
Join Date: Jul 2001
Location: LA
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Quote:
Quote:
Interest on your mortgage payment = throwing your $ away to the bank. So, tell me, how much did you throw away to the bank in 2 years? |
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09-21-2006, 05:10 PM | #9 | |
Scooby Specialist
Member#: 22958
Join Date: Aug 2002
Chapter/Region:
SWIC
Location: Las Vegas
Vehicle:2017 Forester 2.5 Li Silver |
Quote:
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09-21-2006, 05:14 PM | #10 | |
Scooby Newbie
Member#: 8490
Join Date: Jul 2001
Location: LA
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Quote:
How's this for data: I was considering buying a 1500sq-ft town house 5-10 min from the beach in one of the more up scale place in San Diego. At the time, beginning of this year, it was selling for $570k by the builder. Now, there are still plenty of models available and a coworker of my fiance just bought the exact same plan I was gonna buy for $465k with $30k in free upgrade, $5k in closing cost. Yeah, to me, waiting 9 months saved me over $100k. Who knows what the next 9 months bring. Just noticed you're from San Diego, so the area I'm talking about is Carmel Valley. The development is Airoso. Last edited by asianautica; 09-21-2006 at 05:20 PM. |
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09-21-2006, 05:39 PM | #11 |
Scooby Specialist
Member#: 42714
Join Date: Sep 2003
Chapter/Region:
Tri-State
Location: Apalachin, NY
Vehicle:'07 BMW 335i E90 |
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09-21-2006, 05:50 PM | #12 | |
Scooby Specialist
Member#: 33246
Join Date: Feb 2003
Chapter/Region:
NESIC
Location: Where ever I lay my hat is my
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Quote:
If one had no interest then they would have no home, thus living in moms basement or a ground level fixer-upper branded by Target with brown walls. How many people do you know IRL who can afford to buy a home cash with no loan? How many banks or persons do you know that loan money without a fee aka interest? - Janq |
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09-21-2006, 07:09 PM | #13 | |
Scooby Newbie
Member#: 8490
Join Date: Jul 2001
Location: LA
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Quote:
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09-21-2006, 06:01 PM | #14 | |
Scooby Guru
Member#: 8808
Join Date: Jul 2001
Chapter/Region:
NESIC
Location: WRJ, VT
Vehicle:2011 WRX DGM 5D |
Quote:
vastly, you'll find that in many inflated markets (such as boston or san diego), a homeowner who has purchased recently will be dissipating substantially more income than someone renting a similar property... and that's just the month-to-month... if you count closing costs, inspection fees, and all the other miscellaneous bits, buying, lately, has been a very tough pill to swallow. /Andrew |
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11-22-2011, 07:37 PM | #15 | |
Scooby Newbie
Member#: 76849
Join Date: Dec 2004
Chapter/Region:
MAIC
Location: Erie, PA
Vehicle:2011 WRX Rally Blue |
Quote:
The first few years of payments on a house go to interest. That of which you will never see again. People who tell you never to rent are teh stoopid. |
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04-08-2008, 06:21 PM | #16 |
Scooby Guru
Member#: 4718
Join Date: Mar 2001
Chapter/Region:
VIC
Location: Location : Location
Vehicle:I gotz a Subaru again |
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04-08-2008, 06:59 PM | #17 |
Scooby Newbie
Member#: 2461
Join Date: Sep 2000
Location: Portland, OR
Vehicle:2007 Lotus Exige S |
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04-25-2008, 01:52 PM | #18 |
*** Banned ***
Member#: 41300
Join Date: Aug 2003
Chapter/Region:
Tri-State
Location: Midtown West (Lincoln Center)
Vehicle:2000 New York MTA |
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09-03-2010, 02:39 PM | #19 | |
Scooby Specialist
Member#: 25859
Join Date: Oct 2002
Chapter/Region:
South East
Location: Foriderp
Vehicle:1965 MGB yellow 2008 Black Miata |
Quote:
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09-21-2006, 04:51 PM | #20 |
Scooby Specialist
Member#: 22958
Join Date: Aug 2002
Chapter/Region:
SWIC
Location: Las Vegas
Vehicle:2017 Forester 2.5 Li Silver |
Stock investors are a terrible meter for market direction. Look what happens to oil futures every time someone spits across a border in the mideast. Stock investors are panicking even worse than you are, that's all.
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09-21-2006, 05:13 PM | #21 | |
Scooby Guru
Member#: 22825
Join Date: Aug 2002
Chapter/Region:
NWIC
Location: Seattle, WA
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Double yawn....
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09-21-2006, 05:20 PM | #22 |
Scooby Newbie
Member#: 13772
Join Date: Dec 2001
Chapter/Region:
RMIC
Location: -=OT SQUIRREL HERDER=-
Vehicle:16 Frontier Red |
benjaminetanyahoo - thanks for the title. We've never heard you say that before!
And as always the only people in trouble here are: interest only loans ones who planned to flip a house/only live in one a couple years. In the long run people are still making bank that bought a house from 2000-2004/early '05. If you bought your house in San Diego in '00 for $100 it was worth $249 in 05. And now it's only worth a piddly $230. Damn what a terrible investment. And in another year it may only be worth $212. Those poor bastards with their house appreciating over 100% in 7 years. |
09-21-2006, 05:24 PM | #23 | |
Scooby Newbie
Member#: 8490
Join Date: Jul 2001
Location: LA
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Quote:
Ones who will get divorced and bought w/in the last 2 years, @ current 50% divorce rate, that's alot. Ones who pull equity out and buy fancy cars, boats or more houses. Ones who will lose their jobs and bought w/in the last 2 years. Ones who use ARM to buy more house than they can afford. etc. etc. etc. |
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09-21-2006, 05:42 PM | #24 |
Scooby Specialist
Member#: 42714
Join Date: Sep 2003
Chapter/Region:
Tri-State
Location: Apalachin, NY
Vehicle:'07 BMW 335i E90 |
Not necessarily "in trouble", but if you could by a house today that is $100K cheaper than it was 1 year ago, wouldn't you rather do that? You will have a lower payment and you will gain equity faster.
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09-21-2006, 05:36 PM | #25 |
Scooby Specialist
Member#: 33410
Join Date: Feb 2003
Chapter/Region:
Tri-State
Location: wishing i was somewhere else
Vehicle:08 wrx dgm |
^^ and people trying to break into their first home.
No decent houses for <$400k in decent neighborhoods. you need 20% down and that still leaves you with $2,022 /month at 6.5% BEFORE taxes and utilities. a couple making 100k /year is just getting by with those figures in a BLAH house. |
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