[Brian HCM#1]

Sell the place in Tahoe.

I thought of that, but its too good of an investment to sell even though there is no positive cash flow comming form it.

 

[N8 v2.0]

We have been looking at lots also to build, however the decent ones left go for between $550K-1 mil. I can build a house at cost (I'm a General Contractor) and I used to be a plumber so that would shave off $30-40K doing my own plumbing. We are still looking at other options, I'm meeting with my business partner who is my real estate agent/mortgage broker this week to really see what we can realistically afford.

Cool.. I'm about half way thru building my own house at the moment...

Extra's. extra's, extra's!!!

 

[narlus]

I don't have a lot of toys so thats not the issue.

well if 2200 sq ft for a family of 4 is too small, what's taking up all the space? besides, you already mentioned a full storage space split w/ yr parents.

if you definitely wanna move to a place that's either bigger and/or has better schools, i think it comes down to either compromising on the house, or selling the 2nd home to bolster the down payment and lessen the mortgage. not an easy choice either way you slice it.

 

[N8 v2.0]

well if 2200 sq ft for a family of 4 is too small, what's taking up all the space? besides, you already mentioned a full storage space split w/ yr parents.

if you definitely wanna move to a place that's either bigger and/or has better schools, i think it comes down to either compromising on the house, or selling the 2nd home to bolster the down payment and lessen the mortgage. not an easy choice either way you slice it.

Anything over 2100 sf and you are just showing off (generally)... unless you have 3 or more kids.

 

[Brian HCM#1]

well if 2200 sq ft for a family of 4 is too small, what's taking up all the space? besides, you already mentioned a full storage space split w/ yr parents.

if you definitely wanna move to a place that's either bigger and/or has better schools, i think it comes down to either compromising on the house, or selling the 2nd home to bolster the down payment and lessen the mortgage. not an easy choice either way you slice it.

Kids toys and stuff its overflowing everywhere. The last bedroom is my office and the closet is stuffed

 

[N8 v2.0]

Kids toys and stuff its overflowing everywhere. The last bedroom is my office and the closet is stuffed

I hear you about office space... I've got mine set up in the corner of the master bedroom at the moment... that and my 4Runner is my mobile office...

 

[zod]

Insane real estate prices man.............looks like there are some advantages to living in the hillbillyville, USA

 

[Westy]

Kids toys and stuff its overflowing everywhere. The last bedroom is my office and the closet is stuffed

Sounds like you need to rent a dumpster not buy a new house.

 

[MtnBikerChk]

Sounds like you need to rent a dumpster not buy a new house.

lol - the beauty of living in an apartment!

this week we had to throw out carpet from the new house - we just cut it, rolled it, put it in the back of my truck and drove it "home" and put it in the dumpster

 

[I Are Baboon]

...this week we had to throw out carpet from the new house...

And the foam under the carpet and wallpaper and some wood and lots of packing paper and boxes...

:dancing:

 

[stosh]

And the foam under the carpet and wallpaper and some wood and lots of packing paper and boxes...

:dancing:

sounds like bonfire time to me.

 

[Brian HCM#1]

Sounds like you need to rent a dumpster not buy a new house.

We don't have a lot of crap, thats the thing.

 

[stosh]

Man if I had the kind of money you were looking to spend.....

 

[Brian HCM#1]

Man if I had the kind of money you were looking to spend.....

Yeah me too

 

[Acadian]

Yeah me too

 

[Brian HCM#1]

Shouldn't you be paying attention in your 39 hour long meeting?

 

[I Are Baboon]

Man if I had the kind of money you were looking to spend.....

Here's what Brian's price range will get you in my neck of the woods (one of the nicest towns in Connecticut).

What a sh*thole.

http://www.realtor.com/FindHome/HomeListing.asp?snum=9&frm=bymap&typ=1,+2,+3,+4,+5,+6,+7&poe=realtor&mnbed=0&mnbath=0&mnprice=800000&mxprice=1000000&js=off&pgnum=1&fid=so&mnsqft=&mls=xmls&ct=Simsbury&st=CT&areaid=13355&sid=0351BB9B10E3C&snumxlid=1036988551&lnksrc=00001

 

[Brian HCM#1]

Here's what Brian's price range will get you in my neck of the woods (one of the nicest towns in Connecticut).

What a sh*thole.

http://www.realtor.com/FindHome/HomeListing.asp?snum=9&frm=bymap&typ=1,+2,+3,+4,+5,+6,+7&poe=realtor&mnbed=0&mnbath=0&mnprice=800000&mxprice=1000000&js=off&pgnum=1&fid=so&mnsqft=&mls=xmls&ct=Simsbury&st=CT&areaid=13355&sid=0351BB9B10E3C&snumxlid=1036988551&lnksrc=00001

Thats what kills me, I saw a home this morning, 3 bed 2 bath 2200sf on a 1/3 acre lot for 1.1 mil

 

[Westy]

I wonder what will happen when all the baby boomer start to keel over. My guess is that there will be a lot of houses for sale that smell like Grandma.

 

[stosh]

Here's what Brian's price range will get you in my neck of the woods (one of the nicest towns in Connecticut).

What a sh*thole.

http://www.realtor.com/FindHome/HomeListing.asp?snum=9&frm=bymap&typ=1,+2,+3,+4,+5,+6,+7&poe=realtor&mnbed=0&mnbath=0&mnprice=800000&mxprice=1000000&js=off&pgnum=1&fid=so&mnsqft=&mls=xmls&ct=Simsbury&st=CT&areaid=13355&sid=0351BB9B10E3C&snumxlid=1036988551&lnksrc=00001

I wonder if all his crap will fit in that?


My GF and I were talking with Brian and his wife at dinner about how we couldn't afford a house around here blah blah blah... then they told us the price range they were looking we shut up very quickly.

 

[I Are Baboon]

I wonder what will happen when all the baby boomer start to keel over. My guess is that there will be a lot of houses for sale that smell like Grandma.

The house we just bought smells like grandma. They didn't die though, they moved to Florida. Same thing, I guess.

 

[Brian HCM#1]

I wonder if all his crap will fit in that?


My GF and I were talking with Brian and his wife at dinner about how we couldn't afford a house around here blah blah blah... then they told us the price range they were looking we shut up very quickly.

You have to remember we started off with a $275K home cause thats what we could comfortably afford at the time. I knew buying where we did would turn out to be a great investment as it has been. Everyone has to start somewhere and the hardest part is just getting in, once your in its easier to move up. Just focus on buying something and you'll see what I'm talking about.

 

[Brian HCM#1]

The house we just bought smells like grandma. They didn't die though, they moved to Florida. Same thing, I guess.

Did they leave the little bags of Moth balls in the closets

 

[stosh]

You have to remember we started off with a $275K home cause thats what we could comfortably afford at the time. I knew buying where we did would turn out to be a great investment as it has been. Everyone has to start somewhere and the hardest part is just getting in, once your in its easier to move up. Just focus on buying something and you'll see what I'm talking about.

Yeah I know.... it was funny. I know me any Aubrey were thinking the same thing when we heard how much of a house you were looking for. I also understand the market you're in.

 

[Brian HCM#1]

Yeah I know.... it was funny. I know me any Aubrey were thinking the same thing when we heard how much of a house you were looking for. I also understand the market you're in.

Yep, it just sucks :mumble:

 

[caboverpete]

This is insane... you are looking to spend over 10 times what i paid for my house.

 

[narlus]

yikes...i just ran the numbers for a 1.8 mil house w/ 450K down, 30 yr fixed @ 5.67%

that leaves the monthly payment at $7800. by the rule of thumb 1/3 pre-tax income being the most to spend on housing, you have to be pulling in at least 250K per year to squeak by.

 

[Brian HCM#1]

yikes...i just ran the numbers for a 1.8 mil house w/ 450K down, 30 yr fixed @ 5.67%

that leaves the monthly payment at $7800. by the rule of thumb 1/3 pre-tax income being the most to spend on housing, you have to be pulling in at least 250K per year to squeak by.

Very scary..... hunh

 

[surfinguru]

Hey Brian, looks like you struck quite the cord with this thread. (Over 100 posts!) Anyway, yeah, Bay Area sucks for purchasing property. Try doing it on one income in Monterey Bay. :mumble:

How's this for insulting? http://www.mlslistings.com/common/properties/propertyDetail.asp?open=0&page=1&mls_number=414949&type=property&name=

On the other hand, if you're willing to compromise not actually living in the immeadiate Santa Cruz area, there are some decent finds out there: http://www.mlslistings.com/common/properties/propertyDetail.asp?type=property&open=0&from=mlslookup&name=&mls_number=417764&OnlyOne=Y (purported growth for Watsonville over the next 10 years is over 14% - might be a good investment location as SC has their fricken head up the ol arse with only 4% growth projected in the same time frame. Too growth conservative while being too politically liberal )

Bah, Top Ramen, rice&beans and PB&J sandwiches for me. Thanks god for ESPP and stock options.

 

[Acadian]

Bah, Top Ramen, rice&beans and PB&J sandwiches for me........

....AND BIKES!!!!

Thanks god for ESPP and stock options.

even that doesn't help much...I'll NEVER own a home in the Bay Area. Something I've come to live with.

 

[N8 v2.0]

Very scary..... hunh

If I were you, I'd sell my house, take the equity and move the heck outta CA. It's a vicious cycle race of everyone trying to keep up with everyone else so you have to spend more and more money on crap to keep up.

I SO glad I got out of Ventura when I did as are many of my friends from the Silicon Valley. They made huge money and were able to buy bigger houses in other states, not work for a couple years and enjoy life.

Besides, you can always visit CA on vacation...

 

[surfinguru]

....AND BIKES!!!!

Well, that's a given but: Absolutely! That is once I get out of this damn cast! 8 weks and counting... :mumble: :mumble: :mumble:

 

[johnbryanpeters]

You have to remember we started off with a $275K home cause thats what we could comfortably afford at the time. I knew buying where we did would turn out to be a great investment as it has been. Everyone has to start somewhere and the hardest part is just getting in, once your in its easier to move up. Just focus on buying something and you'll see what I'm talking about.

I think we must have overpaid for our house and thirty acres in 1976 - $30,000, as I recall...

 

[Brian HCM#1]

I think we must have overpaid for our house and thirty acres in 1976 - $30,000, as I recall...

They saw you comming, what a rip off

 

[Brian HCM#1]

If I were you, I'd sell my house, take the equity and move the heck outta CA. It's a vicious cycle race of everyone trying to keep up with everyone else so you have to spend more and more money on crap to keep up.

I SO glad I got out of Ventura when I did as are many of my friends from the Silicon Valley. They made huge money and were able to buy bigger houses in other states, not work for a couple years and enjoy life.

Besides, you can always visit CA on vacation...

I'll never leave CA.

 

[Brian HCM#1]

Hey Brian, looks like you struck quite the cord with this thread. (Over 100 posts!) Anyway, yeah, Bay Area sucks for purchasing property. Try doing it on one income in Monterey Bay. :mumble:

How's this for insulting? http://www.mlslistings.com/common/properties/propertyDetail.asp?open=0&page=1&mls_number=414949&type=property&name=

On the other hand, if you're willing to compromise not actually living in the immeadiate Santa Cruz area, there are some decent finds out there: http://www.mlslistings.com/common/properties/propertyDetail.asp?type=property&open=0&from=mlslookup&name=&mls_number=417764&OnlyOne=Y (purported growth for Watsonville over the next 10 years is over 14% - might be a good investment location as SC has their fricken head up the ol arse with only 4% growth projected in the same time frame. Too growth conservative while being too politically liberal )

Bah, Top Ramen, rice&beans and PB&J sandwiches for me. Thanks god for ESPP and stock options.

I hear yeah, its a joke here even for condo/townhouses.

 

[CrazyGambit]

Julie and I started to house hunt the last few weeks and I am so depressed seeing whats out there. Everything in the area we want to live in goes from $800K-2mil+ The $800K houses are smaller than the house we're curently in, my dad found a house for us for $874K, which was almost everything we wanted 5 bed 3 bath, 3 car garage, but the lot was a little too small and now is pending sale. Julie found this nice little fixer upper for $879K, that basicly need to be leveled, people are already doing that on that street, but thats a lot for a 1/4 acre piece of land Guess I'll still search and stay depressed I can't figure out how people are even affording these homes, Julie & I don't make awesome money but we are very comfortable. How the hell do these people do it

bottom line is location location location. when i lived in Oregon 874k would go fast with out much perks. where i live now if i had a budget of 874k i would be sitting on 50 acres and a 4k sqft house with detailed crown molding wainscot beautiful french doors opening out onto my secluded spread. you get the gist. you wouldn't beleive how nice you could live for 400,000. out here in the south.

 

[Curb Hucker]

I hear yeah, its a joke here even for condo/townhouses.

condos and townhouses are a joke here as well, in chicago (downtown area) look at spending at least 500k for a small condo if you want a half decient neighborhood. And the small old homes in the nicer areas right above the center of the city will run ya 2-3million for a house with much origional work from the 20s, or 5-15mil for one thats been rebuilt on the inside, oh ya did i mention no garage on most of these, and maybe enough yard to fit a grill

 

[Brian HCM#1]

condos and townhouses are a joke here as well, in chicago (downtown area) look at spending at least 500k for a small condo if you want a half decient neighborhood. And the small old homes in the nicer areas right above the center of the city will run ya 2-3million for a house with much origional work from the 20s, or 5-15mil for one thats been rebuilt on the inside, oh ya did i mention no garage on most of these, and maybe enough yard to fit a grill

You gotta pay to be near all those sweet curbs

 

[zod]

I'll never leave CA.

I don't know dude, those prices are crazy insane......

I got a 2000 sq. ft. brick home with an oversized 2 car garage + storage room, and a basement, on 3.5 acres for 215K. I'm an hour from the mountains, 3 hours from the beach, and about an 30 minutes away from civilization.

CA is nice and all but I just don't think I could justify the standard of living. But I guess it's all about what you're used to.... :dancing: