I seriously doubt it will affect the market here.
House buying - money pit or good idea
- Thread starter mandown
- Start date
also, pretty sure OP answered his own thread. thanks for playing.
new house builds are way down due to the drought, which has helped push used home prices north. the only way to buy here and not be utterly fucked down the road is to buy a older architect designed home. They have high demand, low volume and havent really been beat down.
Even at the bottom of the slump here, decently nice houses in good areas were in demand. Don't know as much about LA area, but you wouldn't lose money buying somewhere (decent) in OC right now if you planned to stay for at least 5-10 years. I usually keep up on the market around here.
MY problem is im really only interested in buying either a paul tay or cliff may. Gotta keep looking.
My math still says 20% down on a $500k house is $100k, leaving a $400k mortgage. At 4% interest, it's about a $2k mortgage payment (exclusive of tax). I'm no accountant, except for the part where I am. Sober up and reread.Maybe your reading comprehension is a bit off. 200K down on 500K at 3.9% nets a payment pre taxes of $1990.
Or, exactly what I said. but cool story bro. Throw 200K into the wind, when the market collapses I'll snatch your place from the bank for sub-300K
well there it is. yeah i did dumbo math
I was originally looking at total payment. Mortgage, taxes etc which would require 200K to hit 2K.
bravo nerd.
I was originally looking at total payment. Mortgage, taxes etc which would require 200K to hit 2K.
bravo nerd.
Figured we were talking past and the price vs loan was being missed.
man this thread is gay, all sorts of math and shit.
i wanna know more about the bike park story
i wanna know more about the bike park story
Rode park, almost died, hotty Canada nurses, rehabbed, mostly in tact now, the end. Cliff's notes.
im a professional toddler, so dont expect my math to be good.
5 years ago I went OTB, landed on my melon and woke up a vegetable. Dr. Frankenstein put me together at VanGen, and now I walk again.man this thread is gay, all sorts of math and shit.
i wanna know more about the bike park story
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IMO, as long as you can hang tough through inevitable market cycles, big city real estate is a still a good long-term investment.
If you get something comfortably within your monthly ability to pay, and keep some cash in reserve for inevitable repairs, you can handle a bust/downturn in the market. Lots of people kept their homes despite being under water during the last bust. Most are now well in the money.
But yeah, only you can decide if it works for you and your lifestyle. And the buying process during a bubble can't be much fun.
I bought a place in SF in early 2011. It's worked out great so far. (Fingers crossed.)
If you get something comfortably within your monthly ability to pay, and keep some cash in reserve for inevitable repairs, you can handle a bust/downturn in the market. Lots of people kept their homes despite being under water during the last bust. Most are now well in the money.
But yeah, only you can decide if it works for you and your lifestyle. And the buying process during a bubble can't be much fun.
I bought a place in SF in early 2011. It's worked out great so far. (Fingers crossed.)
As a contractor in MA and full time alcoholic, you can rest assured the code updates only apply to the immediate work zone. It's eye watering regardless.
We are in a somewhat similar position. Looking at AF retirement in the next year or so, thinking of buying in the Colorado Springs area...but worry about being geographically and financially locked down should a decent overseas job come calling. Dont need the hook thing, but a bong shed would be nice.
Have enough equity to buy outright...need to find the right deal tho.
Have enough equity to buy outright...need to find the right deal tho.
The rent (market rate) on my loft is way more then the mortgage. I have 2 deeded parking spots and adjacent storage also. I must say. It was all accidental. I just got lucky and stumbled into the good life.
However I live in Rochester NY. The Murder capital of NY. Crime is really bad in the city here...
However I live in Rochester NY. The Murder capital of NY. Crime is really bad in the city here...
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Homes are still relatively affordable here.
it always costs more to unfuck something....
Yup. Ask the ex.
With your spinal cord situation are you able to do any home repair or work? Sweat equity can make a house more financially feasible. Having to pay someone to clean out a blocked dryer vent does not.
I can do some but probably not tons. The landlord factor is worth a bunch of cash.
Get a helper monkey. Not to repair the house but to chew off the neighbors faces. One of the biggest issues with owning in realizing you will be surrounded by those same assholes long term.
Agreed. Grumpy old guy on the neighbor porch didn't seem like a misfits fan. Current landlord and neighbors tolerate a lot. I mean a lot.
Michigan is in the great lakes region not the widwest (at least in my book).
I'll be here next weekend, this won't suck. http://www.pinkbike.com/news/marguette-michigan-trail-fest-2015.html
I'll be here the following weekend. http://www.pinkbike.com/news/Andrew-Shandro-Trek-Bikes-visit-Copper-Harbor-Michigan-2012.html
Not that it matters for a single guy, but we live in a decent school district, we have super low crime, and I'm surrounded by 200+ miles of single track that is perfect for after work riding. And a pretty standard 5-10 hour drive from both east coast, Canada, mid atlantic, etc.
I'm not arguing the actual reality of what region the state is in, I'm just saying that michigan is a fair amount different than most of the midwest due to being surrounded by the lakes and having a much different landscape than Illinois/indiana/iowa/kansas etc and vast flat farmlands as far as the eye can see.
still a "flyover state"
nah, colorado is pretty rad. Utah is tolerable. i've only driven through wyoming but it seemed alright.Isn't that every state besides CA and NY?
Does the internet mention that MI sucks?
Heh. Untrue.
Except for the NW corner, Wyoming is a shit hole. I've had the distinct displeasure of driving it's length and width several times. Eff that place.
Works for me, it's what makes part of it great, we don't have to deal with out of state tourists.
"In 2011, the Pure Michigan campaign was credited with attracting 3.2 million out-of-state visitors who poured $1 billion into the economy, according to state data."
http://www.mlive.com/business/index.ssf/2013/02/1_billion_economic_impact_that.html
Wind Rivers
Except for the NW corner, Wyoming is a shit hole. I've had the distinct displeasure of driving it's length and width several times. Eff that place.
Bighorns
Snowy Range
But to your point - there is a LOT of land outside those pockets that are damned $hitty.