Re: Selling your house
Posted: Thu Jun 12, 2014 8:08 am
You sir are an odd bird.
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There's very few scenarios where renting makes more sense. Prior to 2007, buying property in Tucson was a great short investment. You could make $25k no problem flipping a home, until the bubble popped, and that was tax free money. Now its more of a long term investment(5+ years) and a way to build equity on most homes. Unless you find a foreclosure dirt cheap that doesn't need much. I have a client that has been flipping 3-5 homes a year for 10+ years and hes thinking about quitting. He is losing money or breaking even on more than half the homes he buys. So now he is looking at the homes over $250k that need work and can still flip for a profit. The margin for a quick profit on sub $175k homes is smallLonghorned wrote:By the way, can anyone here tell my why it's good that I got into his home owner thing instead of continuing to rent? I've lived in my house for 13 months, and so far I've had to sink $9,000 into maintenance and upkeep, and I've got quite a ways to go before I'm finished with my "getting started" list. You people kept telling me that I was "burning my money" as a renter. As far as I can tell, I'm burning a lot more money now. Not to mention the fact that all that down payment money isn't doing any real work for me. I'm thinking that home ownership is really just about hemorrhaging money rather than investing it because you love the house and not having a landlord to dick you around.
And you poseurs are such anti-Semites!phenom5 wrote:God, you jokers are such bigots.
20% down, 30 years fixed. Nothing that the inspector didn't find.Jefe wrote:There's very few scenarios where renting makes more sense. Prior to 2007, buying property in Tucson was a great short investment. You could make $25k no problem flipping a home, until the bubble popped, and that was tax free money. Now its more of a long term investment(5+ years) and a way to build equity on most homes. Unless you find a foreclosure dirt cheap that doesn't need much. I have a client that has been flipping 3-5 homes a year for 10+ years and hes thinking about quitting. He is losing money or breaking even on more than half the homes he buys. So now he is looking at the homes over $250k that need work and can still flip for a profit. The margin for a quick profit on sub $175k homes is smallLonghorned wrote:By the way, can anyone here tell my why it's good that I got into his home owner thing instead of continuing to rent? I've lived in my house for 13 months, and so far I've had to sink $9,000 into maintenance and upkeep, and I've got quite a ways to go before I'm finished with my "getting started" list. You people kept telling me that I was "burning my money" as a renter. As far as I can tell, I'm burning a lot more money now. Not to mention the fact that all that down payment money isn't doing any real work for me. I'm thinking that home ownership is really just about hemorrhaging money rather than investing it because you love the house and not having a landlord to dick you around.
5-10% down on yours? 15/30 year locked? What have you had to do so far maintenance wise? Wasn't something the inspector found?
Daryl Zero wrote:Sounds like your wife was your worst financial investment. Something, a few of us suffer from.
I think the act of spending money itself makes her happy, even if we got nothing in return.Daryl Zero wrote:Sounds like your wife was your worst financial investment, something a few of us suffer from.
I just hope your $1,200 refrigerator came with an Encyclopedia of Pornography or you should return it immediately.Longhorned wrote:I think the act of spending money itself makes her happy, even if we got nothing in return.Daryl Zero wrote:Sounds like your wife was your worst financial investment, something a few of us suffer from.
That's exactly what I think every time I leave a Kirkland's Home Store.Longhorned wrote:I think the act of spending money itself makes her happy, even if we got nothing in return.Daryl Zero wrote:Sounds like your wife was your worst financial investment, something a few of us suffer from.
I beat me wife to the punch on that, and became her worst financial investment before she could become mine!Daryl Zero wrote:Sounds like your wife was your worst financial investment, something a few of us suffer from.
Damn that had to hurt. That's the best they could come up with? On the bright side, you just knocked out a good chunk of your mortgage. Id start doubling up on payments when you can and get it paid off as soon as possible.Longhorned wrote:20% down
$3600 to remove 2 trees? I hope they were massive. $5k for a door and light?!Longhorned wrote:But it cost $4000 to have the interior painted, $3000 to have two dying trees removed, another $600 to remove their stumps and replace the lost soil, and another $1400 in misc handyman work. That $1200 fridge wouldn't have been my expense with a rental. And every improvement involves collateral damage. Next will be $5000+ for a new front door and sidelight, then $3000+ to rip out the old carpet on the lower level and replace it with cork.
Doubling up on payments? My APR is 3%. That's the only good part of home ownership I can see. I want to slow those payments down. I love that debt. I wish it were a 60 year mortgage!Jefe wrote:Damn that had to hurt. That's the best they could come up with? On the bright side, you just knocked out a good chunk of your mortgage. Id start doubling up on payments when you can and get it paid off as soon as possible.Longhorned wrote:20% down
I've only had it for 13 months. We got it for a good price history-wise, but I doubt it's gained value. I haven't found Zillow useful in any case, and Trulia is downright wrong on the basic facts of houses as far as I can tell.Jefe wrote: Did they show you the price history of your home? Assessor has some but you could probably use trulia or zillow to see what it has done over the years. A lot of the homes Ive been looking at are back around the 2001-2004 pricing.
The were MASSIVE, like every tree on my property. The limbs that fall off my trees are bigger than most big trees. My property is a towering forest filled with all kinds of foreboding natural and supernatural elements. Most of the area's trusted arborists come out to give an estimate, but are too scared to take on the work. I need power tools like I've never heard off. I have to deal with the leftovers of what the foxes hunted the night before, mostly ducks and other birds, and opossum.Jefe wrote:$3600 to remove 2 trees? I hope they were massive. $5k for a door and light?!Longhorned wrote:But it cost $4000 to have the interior painted, $3000 to have two dying trees removed, another $600 to remove their stumps and replace the lost soil, and another $1400 in misc handyman work. That $1200 fridge wouldn't have been my expense with a rental. And every improvement involves collateral damage. Next will be $5000+ for a new front door and sidelight, then $3000+ to rip out the old carpet on the lower level and replace it with cork.
I have a buddy who's a good handyman. He charges me $25 an hour. And don't make my wife laugh with this notion of me cutting through walls to replace windows and stuff. The reason I need a new front door is because I screwed up trying to fix the last one. Craisglist for tree removal? I can't have some dude without insurance hanging from a limb 100 feet off the ground. I'd have to sell the house to pay off his family.Jefe wrote:It really pays to know how to do a lot of things on your own or have a buddy that's a good handyman. I would even put ads up on craigslist for tree removal/carpet work.
Nice rate! The more you can get applied towards principal, the faster the debt is paid off and the less you will pay when all said and done. Start making double payments and that house will cost you thousands less and be paid off years in advance.Longhorned wrote:Doubling up on payments? My APR is 3%. That's the only good part of home ownership I can see. I want to slow those payments down. I love that debt. I wish it were a 60 year mortgage!
Heres a great site for property info: http://gis.pima.gov/maps/landbase/parsrch.htmLonghorned wrote:I've only had it for 13 months. We got it for a good price history-wise, but I doubt it's gained value. I haven't found Zillow useful in any case, and Trulia is downright wrong on the basic facts of houses as far as I can tell.
This is really rather terrible advice. At 3%, there is hardly any reason to pay down principal.Jefe wrote:Nice rate! The more you can get applied towards principal, the faster the debt is paid off and the less you will pay when all said and done. Start making double payments and that house will cost you thousands less and be paid off years in advance.Longhorned wrote:Doubling up on payments? My APR is 3%. That's the only good part of home ownership I can see. I want to slow those payments down. I love that debt. I wish it were a 60 year mortgage!
He's just trying to get revenge for me stealing his livestock and his wife's sister.Bruins01 wrote:This is really rather terrible advice. At 3%, there is hardly any reason to pay down principal.Jefe wrote:Nice rate! The more you can get applied towards principal, the faster the debt is paid off and the less you will pay when all said and done. Start making double payments and that house will cost you thousands less and be paid off years in advance.Longhorned wrote:Doubling up on payments? My APR is 3%. That's the only good part of home ownership I can see. I want to slow those payments down. I love that debt. I wish it were a 60 year mortgage!
This made me laugh self-consciously. I almost don't attempt to fix things knowing that I will make them twice as worse. Talk about supernatural abilities to muck things up.Longhorned wrote:And don't make my wife laugh with this notion of me cutting through walls to replace windows and stuff. The reason I need a new front door is because I screwed up trying to fix the last one.
I know two families that bought a home recently (in the last 2 years), and both times their home inspections were (nearly) worthless. What a freaking joke they are. might be better off doing it yourself with a an electrician, plumber, and roofer in tow.Chicat wrote:The inspectors are in the pockets of the realtors now. Our inspector told us our house was in better shape than most brand new homes he inspects and gave it a glowing review. Meanwhile it was falling down (literally).Longhorned wrote:Good luck! I guess these days the appraisers do exactly what it takes to ensure the sale goes through. Inspection will at most result in one final, relatively insignificant negotiation where the buyers will be on pins and needles. And the buyers just have to not be dumb enough to buy a new car or a boat before closing.
$25 an hour if you use Longhorned's friend, Pokey (no relation).phenom5 wrote:Anyone have any idea how much it would costs to remove slide from an in-ground pool?
Picture?phenom5 wrote:Anyone have any idea how much it would costs to remove slide from an in-ground pool?
Just curious, unless you don't have kids come by ever why would you do this?phenom5 wrote:Anyone have any idea how much it would costs to remove slide from an in-ground pool?