Is it a rip off or is it fair?

[LordStanley]

Why wouldn't you believe it? Let's say you have a family of 5 and only the father works. He makes a good living, but is injured and needs an operation and rehab and has no LTD. Medical bills pile up and the family is finding it harder and harder to keep up with bills. It happens every day.

I hate to be the ass in this situation, but......

-they should have prepaired better if they "planned" to have family of 5
-If they didnt plan, learn to use birth control....
-The wife needs to step up and get a job.....


The problem I have is My wife and I work our asses of to provide a good living for our family and make sure we take care of future expenses that may arise using the "What if" theory.
Then you have people that dont plan and expect the federal and State government bail them out when they cant make ends meet, Using my tax dollars to Keep their family on welfare.

If your 42 and working the drive thru at Checkers dont expect me to have sympathy for you.

 

[Railroad]

I picked "fair," but I feel that ALL real estate prices around here are a ripoff. Even so, the price of the house is probably in line with what the market prices are.

My dad's house in Montgomery County sold for $45,000 when he bought it in the early 1970's. I don't know what it sold for recently, but I'll bet it was close to $1,000,000.

 

[Chasey_Lane]

Wife needs to get off her azz and get a job then..

seriously, medical bills usually aren't considered as part of your credit-worthiness, and a hospital/ doctor will usually take monthly payments for whatever it is you can afford. The hospital does not expect anyone to come up with 25K the night they get discharged. If all you can afford is $75 every two weeks, they will probably take it, and show up on your credit report as being paid as agreed.

So now the father is still in the hospital, wife gets a job but now has to pay childcare expenses on top of piling medical bills. Family help when they can, but the majority of the burden is on the wife.

Misfortunes happen. I don't think someone is considered lazy if they have to file bankruptcy, even though there are exceptions.

 

[greyhound]

Out of curiosity...
What is the real estate value of just the .23 Acres that the house sits on?

 

[Oz]

What do y'all think? Is this a rip off or fair game?

1 story home built in CRE in 1968. No basement, 616 square feet, two bedroom, on .23 acres. Not water front or lake view, just in the middle of many houses.
Purchased 8/30/1994 for $58,125
Owner dies, home is paid off already and left to daughter for $0. Daughter lives out of state and wants to sell home. It is put on the market for $175,000

So is this a rip off, another case of real estate prices being pushed out of proportion, or is it fair? I talked with one guy and he said that you should get as much as you can get away with when selling property. It would be stupid to under sell yourself.

Fair game. It doesn't matter what the house cost in 1994. It doesn't matter that it had no mortgage when it was inherited.

The only thing that matters to any purchaser is the value of the home today. If comparables are selling in the same price range, then buy it. If you can find a better deal elsewhere, buy that house instead.

Just because there was no mortgage on the home, doesn't mean that the owner didn't have other debt that must be paid prior to settling the estate. And so what if the daughter is pocketing $175K? If that's the value of the home then she is entitled to every penny of that just as you or I would be in the same situation.

 

[LordStanley]

I picked "fair," but I feel that ALL real estate prices around here are a ripoff. Even so, the price of the house is probably in line with what the market prices are.

My dad's house in Montgomery County sold for $45,000 when he bought it in the early 1970's. I don't know what it sold for recently, but I'll bet it was close to $1,000,000.

can you say.... CHA-CHING!!!!

 

[dems4me]

Why wouldn't you believe it? Let's say you have a family of 5 and only the father works. He makes a good living, but is injured and needs an operation and rehab and has no LTD. Medical bills pile up and the family is finding it harder and harder to keep up with bills. It happens every day.

I agree. Luckily my mother finally qualifies for medicare/medicate which isnt' that much but it helps. Up until this point all they could put her medical bills, perscriptions, tests, supplies (oxygen tanks (rentals??)), was on her and my father's credit cards and the more credit you use the more credit companies extend to you... it was a downward spiral before she finally qualified for medicare/medicade. I can very much see how people file bankruptcy as a result of unforseen medical probems.

 

[LexiGirl75]

I feel that every since the housing market went out of control that homebuying is an investment only. When houses were cheaper 2-4yrs ago people were buying them in the hopes that they would double in price. Do I feel like they should be a shame of themselves. H-no!

I am still drugged (high) behind the fact that I DIDN'T want to buy an old decrepit house in DC because I knew I would be embarrass in front of my friends and co-workers to say I bought it. But now the houses that were going for $120 in 2004 are now worth about $250K in less than 2yrs.

I could've bought it then, sold it, paid whatever penalty fee was attached to the tax-abatement for first time homebuyers in DC and bounced and probably put a nice down payment on a bigger better house. The interest rates may not have been so wonderful but $100K+ would've been free money to me.

Example of the kind of house I turned down when I was looking to buy

The cost of homes in this same neighborhood in 2004 was about $110K to $130K at most $160K. That would have been a nice profit and I think that is my only regret about being too picky. But, I wasn't thinking like an investor but like a first time homebuyer wanting everything to look like a dream.

 

[Toxick]

So is this a rip off, another case of real estate prices being pushed out of proportion, or is it fair? I talked with one guy and he said that you should get as much as you can get away with when selling property. It would be stupid to under sell yourself.

I'm sure the number 175K wasn't pulled from anyone's ass.

There are people out there who determine what the price of a home should be - and they come up with these prices from years of experience, or with help from other people who have years of experience..

These people are called 'appraisers', and they take into consideration the location of the house, and the condition of the neighborhood, the condition of the house and land, including things like drainage, water damage, bug-infestations, decay, mold, electrical outlets, and cable-readiness.

It can be reasonably assumed that when they determine what the house is worth, the house is really worth that amount of money.

On account'a they go to jail if they lie.



My parents bought a house some decades ago in the 50K range - it recently got appraised for 250K or thereabouts.

You're friend is correct: It is stupid to undersell yourself.

 

[Pete]

Wife needs to get off her azz and get a job then..

seriously, medical bills usually aren't considered as part of your credit-worthiness, and a hospital/ doctor will usually take monthly payments for whatever it is you can afford. The hospital does not expect anyone to come up with 25K the night they get discharged. If all you can afford is $75 every two weeks, they will probably take it, and show up on your credit report as being paid as agreed.

Not saying what you metnioned does not happen, I just didn't think it would be the top reason for bankruptcy.

And of course in your scenario you take it for granted they have no savings or other source to survive on while the dad recovers, so the original problem could have been them living from paycheck to paycheck with nothing in reserve.

I disagree, hospital bills, doctor bills, anesthesiologist, nursing all can and are reported to credit bureaus when considered in default. True, it is up to the hospital when to turn it over for collection or to call it in default or work it out with the patient but facts are facts.

Hospitals MAY be willing to work with people who have larger incomes on bills they deem can be paid off within a reasonable amount of time but what is their interest in a $40,000 bill to a couple that makes $40K a year? the hospital sells off the debt to collectors, takes the loss on taxes and moves on.

You have had a kid in the hospital lately yet you are lucky to have tricare and no doubt a supplement from your employer. Not everyone is so lucky. Hospital stays and sudden illness are the #1 cause of bankruptcy because the bills are typically huge.


Typically people budget for their lives during the good times with not much consideration for a catastrophe. A family of 4 can easily have their savings wiped out and be forced into bankruptcy. I make damn good change and I know I could not afford a $100,000 medical bill for Boy nor would I EVER refuse medical care based on that. Many people get caught between a rock and a hard place.

To say that the wife needs to get off her ass and get a job is about as pompous as it gets. First of all daycare for 5 kids would negate nearly anything she made. Second assuming that people all live by the "ItsBob's book of responsible living" and save 20% of their total income for catastrophic occurrences and anyone who doesn't is an irresponsible ####### and a blight on society is bullchit.

There are hundreds of thousands of hard working people in this country that do not suck on the nipple of the government contracts in our air conditioned offices like you and I do. They are the ones who change the tires on your BMW motorcycle and the oil in your new $10,000 lawn mower, dig ditches, put up fences and chop the lettuce in our crusted garlic shrimp salads at Applebees. I can guarantee you they don't make the coin to afford a $40K medical bill and be out of work for a couple months. How much "reserve" do YOU have handy right now?

 

[Pete]

If your 42 and working the drive thru at Checkers dont expect me to have sympathy for you.

I suppose you think that everyone is suited to make $100K per year and if they don't it is because they are lazy?

 

[itsbob]

I disagree, hospital bills, doctor bills, anesthesiologist, nursing all can and are reported to credit bureaus when considered in default. True, it is up to the hospital when to turn it over for collection or to call it in default or work it out with the patient but facts are facts.

Hospitals MAY be willing to work with people who have larger incomes on bills they deem can be paid off within a reasonable amount of time but what is their interest in a $40,000 bill to a couple that makes $40K a year? the hospital sells off the debt to collectors, takes the loss on taxes and moves on.

You have had a kid in the hospital lately yet you are lucky to have tricare and no doubt a supplement from your employer. Not everyone is so lucky. Hospital stays and sudden illness are the #1 cause of bankruptcy because the bills are typically huge.


Typically people budget for their lives during the good times with not much consideration for a catastrophe. A family of 4 can easily have their savings wiped out and be forced into bankruptcy. I make damn good change and I know I could not afford a $100,000 medical bill for Boy nor would I EVER refuse medical care based on that. Many people get caught between a rock and a hard place.

To say that the wife needs to get off her ass and get a job is about as pompous as it gets. First of all daycare for 5 kids would negate nearly anything she made. Second assuming that people all live by the "ItsBob's book of responsible living" and save 20% of their total income for catastrophic occurrences and anyone who doesn't is an irresponsible ####### and a blight on society is bullchit.

There are hundreds of thousands of hard working people in this country that do not suck on the nipple of the government contracts in our air conditioned offices like you and I do. They are the ones who change the tires on your BMW motorcycle and the oil in your new $10,000 lawn mower, dig ditches, put up fences and chop the lettuce in our crusted garlic shrimp salads at Applebees. I can guarantee you they don't make the coin to afford a $40K medical bill and be out of work for a couple months. How much "reserve" do YOU have handy right now?

WOW, who pissed in your wheaties this morning??

I just disagreed with the Medical Bills being the number one reason for filing bankruptcy.

Apparenty I've been proven wrong.. so you get the tally in the win column for this one.

 

[greyhound]

Out of curiosity...
What is the real estate value of just the .23 Acres that the house sits on?

Hello.....No one knows.....?

 

[Ken King]

I voted rip-off. The place is only assessed at $90,766.

 

[Pete]

WOW, who pissed in your wheaties this morning??

I just disagreed with the Medical Bills being the number one reason for filing bankruptcy.

Apparenty I've been proven wrong.. so you get the tally in the win column for this one.

I apologize for trying to win the argument too forcibly.

 

[Lilypad]

It's a seller's market folks....gonna be that way for awhile.
Just cause the gal has it on the market for $175,000, doesn't mean she'll get it.
Buttttttt, most likely she will.
The house is almost 40 yrs. old-real estate is one of the few investments that reaps a profit consistantly (unlessen there is something majorly wrong).
BTW is this house a FSBO or listed w/a realty company?
I agree wid Nickle~Why shouldn't she be allowed to reap the benefits?
The gal obviously has no sentimental attachment to the house...

 

[harleygirl]

Hello.....No one knows.....?

The price of one acre around this area is around $10,000.....the land next to me is 4.5 acres, and went for $50,000 about six years ago.

 

[Pete]

I suppose you think that everyone is suited to make $100K per year and if they don't it is because they are lazy?

Is it a rip off or is i... 07-31-2006 01:38 PM mama2spike

Could someone clue me in on WTF that means? I used to speak jive but I never could pick up "Incoherent jibberish".

 

[mAlice]

The price of one acre around this area is around $10,000.....the land next to me is 4.5 acres, and went for $50,000 about six years ago.

2 acres, 185,000. http://www.realtor.com/FindHome/Hom...t=0&exft=0&exft=e2acres&mnbath=0&areaid=35871

 

[mAlice]

Ridge, 1 acre 89,900

Ridge, 0.62 acre 99,000

http://www.realtor.com/FindHome/Hom...t=0&exft=0&exft=e2acres&mnbath=0&areaid=88550