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Toshi's thread

jonKranked

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Nov 10, 2005
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Oh, I thought that part was clear but apparently only the locals got it. This isn't some random house to be in the mountains (although that, too). It's 100% to make skiing a better experience for my family in terms of driving, hanging out up there, weekends, etc.
yea that'd definitely be a good time. wife and i want a second house for weekend recreation, but the skiing isn't quite so good around here. proximity to a mountain would be a plus, but we really want waterfront, and remote. we have unlimited access to our familys camp in Maine, but that's not convenient for a weekend trip (11 hour drive).
 

Westy

the teste
Nov 22, 2002
42,977
8,787
Sleazattle
3/4 of a mil for a quarter acre lot is still insane.

around here that much money can get you similar sized new construction on an acre or more depending on how much farther you get away from the city.

i'll give you the views are much better.

.25 acre lot would go for at least a cool million here, probably two if zoned for 5 story buildings.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
Spent about 2 hours on the phone today getting homeowners insurance quotes on the new place from various outfits. There's a tremendous amount of variability and one weird risk algorithm quirk.

Allstate:

$3,552 annually as a vacation home, no rentals. Online so didn't get to get to ask about what the difference would be were we to insure it as used also for short term rentals.

Geico, farmed out to Travelers:

$2,737 annually sans rentals. $2,847 if with rentals < 180 days of the year.

Progressive, farmed out to Foremost:

$2,261 annually sans rentals. $2,199 (! yes, cheaper!) if with rentals via a company that does background checks, etc. Agent went and confirmed that all coverages were same and the like.

Therefore I clearly went with Progressive w/rentals enabled. More flexibility for me and even if we don't rent it saving a bit of money! That's one weird glitch in their algorithm but I won't argue with it
 

canadmos

Cake Tease
May 29, 2011
13,050
9,779
Canaderp
i just poked around zillow out of curiosity, i found a 29 acre lot for $600k less than 30 minutes from me. it has the entirety of a 200' hill on it.
$600k around here will get you a townhouse (maybe) and a tin shed with one parking spot. With no direct access to your 100 square foot backyard porch.

Example near my work - https://www.zillow.com/homedetails/5-Corbett-Cres-Aurora-ON-L4G-2E9/2073574410_zpid/

1.1million for that POS built in the 60 probably. LOL WHAT THE FUCK IS GOING ON LOL
 

jonKranked

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Nov 10, 2005
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$600k around here will get you a townhouse (maybe) and a tin shed with one parking spot. With no direct access to your 100 square foot backyard porch.

Example near my work - https://www.zillow.com/homedetails/5-Corbett-Cres-Aurora-ON-L4G-2E9/2073574410_zpid/

1.1million for that POS built in the 60 probably. LOL WHAT THE FUCK IS GOING ON LOL
we bought our place (2200 sqf, 4 bed 2.5 br on just under half an acre) for $350k in 2013. comparable houses in the neighborhood that have recently sold are creeping into the mid 400s.
 

Westy

the teste
Nov 22, 2002
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Sleazattle
I looked up how much it would cost to have some work done on the house. Seems to be that a kitchen remodel around here is $100,000 -$200,000, bathroom $80,000. That is fucking bonkers.
 

canadmos

Cake Tease
May 29, 2011
13,050
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Canaderp
I looked up how much it would cost to have some work done on the house. Seems to be that a kitchen remodel around here is $100,000 -$200,000, bathroom $80,000. That is fucking bonkers.
Meanwhile a friend of mine purchased a very nice 3 bedroom bungalow a few years ago, which he didn't have to do a single thing to, for all of $85000. Granted it is in a town (very nice, well kept area) about an hour outside of Detroit, but still.

:rofl::rofl:
 

jonKranked

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Nov 10, 2005
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Meanwhile a friend of mine purchased a very nice 3 bedroom bungalow a few years ago, which he didn't have to do a single thing to, for all of $85000. Granted it is in a town (very nice, well kept area) about an hour outside of Detroit, but still.

:rofl::rofl:
a buddy of mine from vermont lives on about 25 acres. he was looking at a possible move to detroit area at one point, he said he could have afforded a 100 acre lot.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
33,414
7,842
Riding the baggage carousel.

canadmos

Cake Tease
May 29, 2011
13,050
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Canaderp
Check out this horror show next door.


Chick who lives in it bought it 7 months ago, for 270k and it's been a non stop parade of contractors ever since, It's now back on the market for a 300k asking. It's 2 bedrooms and fucking TINY. There is absolutely nothing rational about what's happening to the market here.
That looks like a steal compared to here. :rofl: :banghead:

This one down the street looks similar, but is going for a cool 800k. wtf?

 

6thElement

Schrodinger's Immigrant
Jul 29, 2008
7,953
4,775
Check out this horror show next door.


Chick who lives in it bought it 7 months ago, for 270k and it's been a non stop parade of contractors ever since, It's now back on the market for a 300k asking. It's 2 bedrooms and fucking TINY. There is absolutely nothing rational about what's happening to the market here.
She appears to have bought every piece of kitch that Pier 1 sells...

You should just go burn it down.
 

Nick

My name is Nick
Sep 21, 2001
19,164
6,795
behind you, don't wait up.
first place I owned was a $79k condo
second place had a $60k deeded parking space

none of it makes sense. things are worth what people are willing to pay.
I wish I'd had bought a house in Evergreen two years ago, which would have had me stressed. It's value is up like 40% since then.
 

Westy

the teste
Nov 22, 2002
42,977
8,787
Sleazattle
I have said this before and I will say it again. Most housing is bought with credit, the price of the house does not reflect the cost of a house. I bought my first place for $118,000 at 7%. I sold it for twice as much when rates were about 3.5%, the new owner probably had an identical monthly payment that I did when first purchased.

I bought this place at 3.625%. I just refinanced to 2.5%. If I were to buy it today, the seriously inflated price of the house with today's rates would net me pretty much the exact same monthly payment. The price went up, but the cost remains constant.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
I have said this before and I will say it again. Most housing is bought with credit, the price of the house does not reflect the cost of a house. I bought my first place for $118,000 at 7%. I sold it for twice as much when rates were about 3.5%, the new owner probably had an identical monthly payment that I did when first purchased.

I bought this place at 3.625%. I just refinanced to 2.5%. If I were to buy it today, the seriously inflated price of the house with today's rates would net me pretty much the exact same monthly payment. The price went up, but the cost remains constant.
Math time. Assuming 20% down and 30 year fixed for both examples.

$118k purchase price, 7% loan. PI of $628.

$236k purchase price, 3.5% loan. PI of $847.

35% more.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
nice.
I close today at 2.75% which I think is great.
I refied this Denver house most recently to 2.125% x 15 years fixed, 0 pts/small lender credit.

New house as a second property, 90% LTV will be 3.000% fixed x 30 years on the first $548,250 (conforming limit) and the remainder via a 6? or so % interest only secondary mortgage. That'll be the first one for me to axe once I get any extra cash flow.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
If I'd been able to plump 20%+ down and stick to the conforming limit my current primary home lender would have given 2.500% fixed x 29 years, waived origination fee, 0.5 pt but 0.5 pt lender credit in exchange... as a secondary residence. Insanely cheap money.

But that would have involved bringing ~$150k cash to close ultimately instead of $85k. As I like having reserves instead of being straight up cash-poor that's not in the cards. Will refi later once appraisals rise, etc. no doubt.
 

Westy

the teste
Nov 22, 2002
42,977
8,787
Sleazattle
Math time. Assuming 20% down and 30 year fixed for both examples.

$118k purchase price, 7% loan. PI of $628.

$236k purchase price, 3.5% loan. PI of $847.

35% more.
To be specific, it sold for 220k, 16 years later and the type of folk buying the place aren't putting down 20%.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
33,414
7,842
Riding the baggage carousel.
She appears to have bought every piece of kitch that Pier 1 sells...

You should just go burn it down.
Probably shit staged by the real estate company.

My house is the same size, I wish it was $300k.
In this particular example, I believe @6thElement is correct. Homegirl had a veritable train of box trucks dropping of large, multi piece, packages the first 6-8 weeks she was in the place.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
2DA6FC60-95BA-4DDE-9579-E0B5DE4A8D2F.jpeg


Finally some gainz

beat my prior record by 2W yo
 
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Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
Got utility bill history for the Tabernash house and it's actually not that bad.

Capture 2.PNG


This was the worst month of the last 6. Most months significantly lower, and again they live there full time.

Capture.PNG


Last month's electric, showing not tremendous variation over the past 13 months on the chart at bottom left.

Water and sewer are metered but either flat rate or at a fixed allocation so high they don't hit it. $396 per quarter, consistently.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
Today was inspection day. Mostly mundane superficial stuff.

The deck is a problem, though. We knew the plywood and tile were crap but they apparently screwed up the flashing (or more). Moisture in the drywall of the (concrete) basement wall abutting the main deck.

Going to get a contractor to assess this more fully. Closing may be pushed back and we will likely ask for a concession equivalent to the non-deck per se portion of the contractor’s estimate (as the deck was known by us and basically baked into the price).

Other things of note from inspection:

- all hydronic radiant floor heating with natural gas boiler

- 8 zones and 9 (two on one zone) dumb thermostats—smart thermostat certainly possible with an add on box to actuate the valves at the manifold per inspector

- got access to a locked section behind the half bath with the sauna and there’s a whole extra compound there! Big hallway with storage, two bedroom sized storage rooms (no egress), another big closet with nice sturdy shelving. Tremendous storage!

- main floor kitchen counters turn out to be laminate on inspection but all the tile throughout is granite! Such odd choices.
 

6thElement

Schrodinger's Immigrant
Jul 29, 2008
7,953
4,775
- all hydronic radiant floor heating with natural gas boiler

- 8 zones and 9 (two on one zone) dumb thermostats—smart thermostat certainly possible with an add on box to actuate the valves at the manifold per inspector
That's what we have, but I think we're 6 zones with the dumb thermostats. It's nice to be able to set bedrooms, mudroom cooler than the rest of the house. But a pain to flick the living areas up and down each morning and night. I should really invest in less dumb wall controls so I could program day/night temps.
 

CBJ

Turbo Monkey
Mar 19, 2002
11,538
1,716
Copenhagen, Denmark
That's what we have, but I think we're 6 zones with the dumb thermostats. It's nice to be able to set bedrooms, mudroom cooler than the rest of the house. But a pain to flick the living areas up and down each morning and night. I should really invest in less dumb wall controls so I could program day/night temps.
With radiant floor heating does it really make sense to regulate heating between night and day?
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,852
3,581
With radiant floor heating does it really make sense to regulate heating between night and day?
Good point. But for my weekend/weekday use case I think it makes sense. Also to check for sane temp settings after potential renters check out.

Seems like I’ll need a true multi zone thermostat (supra Nest level) to get this done unless I’m reading things wrong.
 

6thElement

Schrodinger's Immigrant
Jul 29, 2008
7,953
4,775
Good point. But for my weekend/weekday use case I think it makes sense. Also to check for sane temp settings after potential renters check out.

Seems like I’ll need a true multi zone thermostat (supra Nest level) to get this done unless I’m reading things wrong.
Make sure you post the appropriate research and conclusion in case I want to upgrade from my dumb thermostats too :p
 

canadmos

Cake Tease
May 29, 2011
13,050
9,779
Canaderp
- got access to a locked section behind the half bath with the sauna and there’s a whole extra compound there! Big hallway with storage, two bedroom sized storage rooms (no egress), another big closet with nice sturdy shelving. Tremendous storage!
Theres a secret dungeon? This makes the entire thing worthwhile!
 

Nick

My name is Nick
Sep 21, 2001
19,164
6,795
behind you, don't wait up.
I officially volunteer toshi's mtn estate for a monkeyfest this Summer. it's just down the road from Trestle bike park, and there is hundreds of miles of fun trail riding in the valley up there.

I assume @Toshi will provide sandwiches and refreshments. Thanks!