Dear folks who wish you owned your own home

[Baja28]

Do you have a mortgage, or do you rent?

he's an obvious renter.

 

[BoyGenius]

Do you have a mortgage, or do you rent?

What does that have to do with the facts at hand?

 

[Pete]

Not this worn out old debate again

 

[DoWhat]

What does that have to do with the facts at hand?

Is Mommy and Daddy foreclosing?

 

[onebdzee]

My bad, make that $70k, more when you tack on the sales commission and transfer fees.

45943 SHIELDS CT SAN SOUCI CALIFORNIA MD - HomesDatabase

45943 Shields Ct.

By the way, that listed price amount is $12k under it's 2003 sales price.

We'll check back in five years on this one and see who we get to label a dumbass.

uuuummmmm......that's a mobile home(without the wheels) on a lot that isn't half the size of my house.....they are lucky if they get what they are asking for it now

The value of those homes over in san souci(or anywhere else like that) are either going to stay the same or depreciate over time because of what the home is....it is a double wide mobile home(not sure if it is on a foundation or not) with the axles removed....which makes them by state regulations a modular home

When I was looking for a house a couple of years ago, those houses in that complex were all on the lower end of the price list of the database listings

 

[onebdzee]

Not this worn out old debate again

They are talking moble homes vs real houses now

You gonna be around tomorrow around 3:30-4....I can drop off that equipment if you still want to return it for me

 

[BoyGenius]

uuuummmmm......that's a mobile home(without the wheels) on a lot that isn't half the size of my house.....they are lucky if they get what they are asking for it now

The value of those homes over in san souci(or anywhere else like that) are either going to stay the same or depreciate over time because of what the home is....it is a double wide mobile home(not sure if it is on a foundation or not) with the axles removed....which makes them by state regulations a modular home

When I was looking for a house a couple of years ago, those houses in that complex were all on the lower end of the price list of the database listings

results

And still no remorse from the shills who slaughtered these folks.

 

[somdrenter]

Pretty funny huh? Your landlord thinks so.



WOO HOO!!! Shop around Renty ole boy!! Might find ya self a better deal to throw your money away on... So the landlords don't make quite as much money.... They're still depositing your check every month!!

I apologize Baja.

After multiple bank failures, trillions in bailouts, the Dow hovering around 7000, rising foreclosures, abysmal sales, falling sales prices, automakers getting bailouts, rising unemployment; all due largely to the housing bubble, and an example of how renting a comparable home could save you 12 grand a year…

I thought you were kidding.

 

[somdrenter]

So, if you stop renting, you get $1,000 a month back? For how long? Maybe I've got this renting business all wrong.

Apparently.

 

[somdrenter]

But if they are planning on staying, they now own a home. A renter has nothing.

Humm, paid off in 2 years. I must admit, that's pretty good.

 

[Baja28]

I apologize Baja.

After multiple bank failures, trillions in bailouts, the Dow hovering around 7000, rising foreclosures, abysmal sales, falling sales prices, automakers getting bailouts, rising unemployment; all due largely to the housing bubble, and an example of how renting a comparable home could save you 12 grand a year…

I thought you were kidding.

I just paid off my house. Please tell me how I could save $12,000.00 per year by renting. I'll wait.

 

[onebdzee]

Humm, paid off in 2 years. I must admit, that's pretty good.

My brother just paid off his 30 year mortage last month....took him about 4 and a half years....all that money he use to pay his mortage with will now go into his retirement fund....If I keep going the way I'm going, I will have mine paid off in about another 4 or so years(30 yr mortage)....I will be doing the same as my brother

Can you say that you don't have a house to pay on every month?....oh....wait....you don't have a house, it belongs to someone else and you will continue to pay their mortage every month....good luck making that rent on SS

 

[Baja28]

Humm, paid off in 2 years. I must admit, that's pretty good.

It was paid off in 10 years.

Well I'm off to bed in MY home. You keep lookin for more doom and gloom while making sure your check is to the landlord on time. Tomorrow is the 1st of the month and rent is due yanno.

While Nobammy is bankrupting the country, maybe he'll slide you some coins to buy a house that you can pay on for the next 30 yrs.

 

[somdrenter]

I just paid off my house. Please tell me how I could save $12,000.00 per year by renting. I'll wait.

That’s super Baja. You get a gold star for being economically responsible and an overall good citizen.

But I never said you could. No one has suggested renting long term, or that renting is always the best solution. I have said, especially during the bubble years and during our current economic situation, that renting may be the best solution for many.

For instance. If we look at the last few years, home prices have been well over the historic affordability levels. Simply put, the average family income can not support the average home price. At the end of ’08, something like 75% of our current local work force could not afford the average home.

We now see the results of those inflated prices and some are just now realizing that it was toxic mortgages, loose lending and pressured appraisers that propped up those inflated prices. Some will never realize it, others will never admit it.

 

[somdrenter]

You keep lookin for more doom and gloom while making sure your check is to the landlord on time. Tomorrow is the 1st of the month and rent is due yanno.

While Nobammy is bankrupting the country, maybe he'll slide you some coins to buy a house that you can pay on for the next 30 yrs.

Doom and gloom? Again, sorry Baja, hate to disappoint, no “doom and gloom” here.

And it looks like no handouts either for those who have paid off their home, and/or are financially responsible.

 

[somdrenter]

Can you say that you don't have a house to pay on every month?....oh....wait....you don't have a house, it belongs to someone else and you will continue to pay their mortage every month....good luck making that rent on SS

Yes. I can. And no luck needed making rent on SS. I don’t plan on renting long term, and no one should count on SS being around.

 

[somdrenter]

Not this worn out old debate again

Debate?

I thought these trillions in bailouts were due to the housing bubble?

 

[somdrenter]

Wife and I may be selling our house.
We put down an offer on this one.
Advertisement - Real Estate Ads

Seeing how Avg Sale Price as a percentage of Avg List Price is around 90%, in addition to sales commission and transfer fees, they’d probably be pretty happy with your offer.

 

[BoyGenius]

Seeing how Avg Sale Price as a percentage of Avg List Price is around 90%, in addition to sales commission and transfer fees, they’d probably be pretty happy with your offer.

Look it up, they bought it in 07 and are trying to sell it for $125k more than they purchased it for, not to mention it's assessed for less than they paid for it then.

 

[Larry Gude]

Larry, give us some hard numbers. Say some retard read this thread back in October of 2007, took the advice, and bought one of those pre-fab trailers in San Souci for $170k. How much are they down now?

And don't hit me up with that "they've lost nothing till they sell' garbage, we're talking mark to market accounting here.

First off, mark to market is pure 100% fantasy and the dumbest idea in the last 5,000 years. Besides the DH rule. The best property in the universe isn't worth X dollars, right now, this very minute. It's worth what it's worth when it is bought and sold. Everything else is a suggestion based on recent sales and a fair idea of the pool of buyers, but still a guess.

Mark to market is part of how we got in this mess in the first place. Mark to market is a real time heart monitor and stampede creator in a nation that works best on weekly, monthly, quarterly and annual accounting. It CREATES instability where stability is CRUCIAL.

Imagine if milk was valued several times a day. The shelf is kinda bare, up goes the price! The delivery truck blew a tire, up goes the price! Some mom just bought 3 of the last four gallons! There's three people heading for the dairy case and 4 cars just pulled into the parking lot! Quick! PANIC! That gallon is gotta be worth $100 to someone!

Now, the reverse. The snow storm DIDN'T come, an Internet rumor said milk is bad for you, people are on vacation, the three gallon lady found out she is lactose intolerant and the delivery schedule got messed up and an extra milk delivery came; there's milk everywhere! Quick! Panic! Sell that milk for whatever you can get for it!!!!

Secondly, who in the hell could have predicted in '07 that a GOP potus would take these drastic, huge and devastating steps towards socializing the economy? He pulled the rug out from under everyone and everything. He did NOT fix Fanny, he did not fix mark to market, he did not fix oil. He poured gasoline on the whole smouldering mess.

So, the question; better to own or better to rent?

If you've rented the last two years and it's cost $1,000 a month less to your cash flow, including the tax implications, then you have $24,000 more cash had you rented...depending on where you put that money.

If it's in the bank, great.
Under your mattress. Great. Hope you don't get robbed.
Buried in the back yard. Great. It's not your back yard.
If it's in Citibank stock. It's gone.
If it's in gold, great.
If you started a business with it, great. Depending on the business.

It's fine to argue renting is better. We would all be better off now if 8% of new homeowners the last 5-6 years did NOT get their loans. We'd all be better off if W hadn't socialized the economy. We'd be recovering now. We'd all be better off if Obama and Nancy and Harry hadn't just made it far worse.

At some point, housing WILL settle into a fair supply and demand equilibrium and most, especially better properties will recover. If housing falls some more and you've now saved $36,000 because you rented yet my house starts going up $12,000 a year for 3 years, we're even and the question goes right back to the one I asked earlier that you are trying to avoid answering;

What do you do with that money you saved by renting as housing devalued?