The Swamp

Steve of phpBB wrote:

AB_skin_test wrote:There was a new rule on FHA loans that you had to stay a certain time period to get some perks that were being offered. It was specifically so that people wouldn't take the perks and flip their houses immediately.

But how is that enforced? The FHA can't stop someone from selling. They might be able to make you repay the perks, but if you are really in a position to sell, it might be worth it.

Still, unless you are going to leave the area or downsize to a rental, does rising home equity really do much for you? It seems to me that if you move out of your place, you would just have to buy another house, and the price of that one has probably gone up just as much.

Sabo wrote:I'm very happy here in Cleveland.

HaulCitgo wrote:A good RE deal is still a solid place to park money. Stocks have run up too much. Low increasing rate environment makes bonds look unattractive. Tax advantaged retirement just freezes money too long. I do think you need to consider property taxes, mortgage interest (less 25-40% presuming a full tax deduction) and maintenance costs to get to an apples-to-apples rent vs. buy analysis but my calculation says buy.

As southeastern price points 30327 Atlanta is up at least 15-20% from the bottom... I bought in Dec 2011. My neighbor last week put their house on the market for 72% higher than I paid for my foreclosed property. Granted, its not a sale but another neighbor on my street has theirs for sale for more than the immediate neighbor and is pissed that the immediate neighbor is lowballing. I bet the immediate neighbor gets 90% of what she asks. A true sale across the street went for 55% higher than mine late last year. Each of those is nicer but not that much nicer. No more than 500 sq ft bigger. I bet I could sell 60k higher right now.

Unfortunately, I do own another place that im having to now rent for less than my mortgage because I cant sell yet. So generally current prices in a desirable area (but not top of the market) haven't yet caught up to 2003 purchase prices. The main builder in that old area has been finishing up all the lots he stopped work on in 2008. They've probably built 20 houses or so in the last year and no way that guy still has the pockets to front those costs. He has to be selling them.

HaulCitgo wrote:Id say prices are up 20% from winter 2011

sancarlos wrote:

HaulCitgo wrote:Id say prices are up 20% from winter 2011

Of course, every market is different. But things are still blazing hot in my part of the Bay Area (the mid-peninsula, south of SF, north of SJ, west of the Bay). My next door neighbor sold his house a couple weeks ago, and I was shocked at how much he got for it. He priced it high and got six offers, four of them over his asking price, a couple of them straight cash. I'm guessing he got 50% more than he would have gotten in the winter of 2011. Our little burg is known for good public schools, and being the junior varsity option for people who want but can't afford Palo Alto or Menlo Park.

brian wrote:Took me a minute, but I got there.

BSF21 wrote:

I'm making an offer on a house! I shall update accordingly. It is damned sweet though.

BSF21 wrote:Done. Close thread.

BSF doesn't get to sleep for the next month.

If you need me I'll be in the home repair thread from here on out.

BSF21 wrote:Done. Close thread.

BSF doesn't get to sleep for the next month.

If you need me I'll be in the home repair thread from here on out.

rass wrote:

BSF21 wrote:Done. Close thread.

BSF doesn't get to sleep for the next month.

If you need me I'll be in the home repair thread from here on out.

Congrats, man. If you want to keep Syb on your side don't reveal how much you paid.

P.D.X. wrote:I need to get into coal.

Icepenis wrote:How many posts do you need before you become Tyvek Home-Wrap?

DSafetyGuy wrote:The owners of the house we are buying are actually replacing the deck.

It was originally just built on the ground with no posts going underground. As a result, the primary support beam rolled, so water runs toward the house and creates a seepage issue.

I am stunned, but, I guess that, after a couple contractors came out, they figured that they could replace it for less than the appraised value.

AB_skin_test wrote:We started packing about that far in advance and still had shit unpacked on moving day. Don't sleep on preparation. Also, don't sleep, period. More time to pack.

cerrano wrote:AND A NEW CAR!!!!

The Sybian wrote:Whoa, you never said anything about a bell tower. I totally wouldn't have tried to talk you out of buy the house. So tempted to walk up to the GF and say "do you come with the house?" [Simpsons reference for you youngins'.]