J
jaybeeztoo
Guest
Nope, but I know the company very well
I used to be a licensed settlement processor in another lifetime 
real estate question
- Thread starter terbear1225
- Start date
Nope, but I know the company very well
I used to be a licensed settlement processor in another lifetime 
yankee44
New Member
I'll answer your question...
My $2500 buys me a view of the Potomac River...
That $1600 dollar advertised price of that house is with 20% down for a chance to stare at the side of your neighbors house ten feet away...
How many first time homebuyers have 70k cash to put down?
No thanks...
Hey dumb ass what about me? I bought my house 7 years ago and could still sell it for ALOT more now than what I paid for it so with my 15 year mortgage the way I see it in 8 years when I am living for free and you are still paying rent I think I win!!!!!!!!
tommyjones
New Member
I'll answer your question...
My $2500 buys me a view of the Potomac River...
That $1600 dollar advertised price of that house is with 20% down for a chance to stare at the side of your neighbors house ten feet away...
How many first time homebuyers have 70k cash to put down?
No thanks...
that explains a lot. You are a hasn't owned who is living outside his means in a house he can't afford, drive a BMW he cant really afford and having trouble with a TV he cant really afford.....
there are other ways to buy that dont require 20% down, now if you have terrible credit, or you are trying to buy a house you cant afford.......
yankee44
New Member
What about you?
You're one of those idiots to dumb to realize that this conversation is about people faced with whether or not to buy homes right here, right now...
Before the boom stupid!
Would you buy your house at it's current price? Could you afford to?
The answer is usually no...
Exactly!!! you dont Know my situation and no one cares about yours. So go post your ramblings on the why buy when you can rent fourms.
tommyjones
New Member
I'm not implying they resubmitted anything. These market conditions have been deteriorating since 2005...
But to answer your question, let's look at a couple of things...
Check out this lot that recently came on the market in Leondardtown:
- Property Finder
15 acres for a $225k...
You're paying how much for that 1/3 acre lot?
The builders bought a lot of this land when prices were sky high, that's not your problem...
Next, I don't have a link for it, but many of you have seen the new home advertised in the Emptyprize that can be built for $170k on your lot. Compare it with the land example above and then tell me what a great deal this stuff is?
I wouldn't pay more than 250k for one of those houses...
that 15 acre lot can only have 2 homes built on it and you are going to have all kinds of restrictions on it use....
fredsaid2
New Member
I'm not implying they resubmitted anything. These market conditions have been deteriorating since 2005...
But to answer your question, let's look at a couple of things...
Check out this lot that recently came on the market in Leondardtown:
- Property Finder
15 acres for a $225k...
You're paying how much for that 1/3 acre lot?
The builders bought a lot of this land when prices were sky high, that's not your problem...
Next, I don't have a link for it, but many of you have seen the new home advertised in the Emptyprize that can be built for $170k on your lot. Compare it with the land example above and then tell me what a great deal this stuff is?
I wouldn't pay more than 250k for one of those houses...
That property is not a good comparison for the lot in the development. It's also not a new listing. It will need it's own well and septic and a good portion is unusable due to conservation restrictions, it contains some wetlands.
A 170K house won't get you much today. Maybe a smallish rambler w/ no upgrades?
You mention dropping building supply prices. I'm not sure we're seeing them yet. Would anyone who has a recent builder's quote be willing to share the per square foot price and the approx total square footage of the house?
The Dude
You mean coitus?
I'm not implying they resubmitted anything. These market conditions have been deteriorating since 2005...
But to answer your question, let's look at a couple of things...
Check out this lot that recently came on the market in Leondardtown:
- Property Finder
15 acres for a $225k...
You're paying how much for that 1/3 acre lot?
The builders bought a lot of this land when prices were sky high, that's not your problem...
Next, I don't have a link for it, but many of you have seen the new home advertised in the Emptyprize that can be built for $170k on your lot. Compare it with the land example above and then tell me what a great deal this stuff is?
I wouldn't pay more than 250k for one of those houses...
There are a lot of factors that go into the selling price of a home, for example the square footage, when it was built, how recently is has been updated, the location, how long it has been on the market, if the house is in a community...etc...in addition to the amount of land you get. Also the prices are NEGO...a house is only worth what someone is willing to pay so long as a seller accepts that price. (basic economics) So lets say for arguement's sake you want to buy the house with .33 acres on it. You make an offer of $300,000.00 and the seller accepts becasue of market considerations....then you get an appraisal on the house and it's only worth $250,000 becuase the market is so bad. The seller either has to accept the price of $250,000 or you can walk away from the deal. (unless some dumb-ass buyer decides he still wants to pay the higher price) If you live in a home long-term....it's was better than renting...no matter what the market is doing.
Another thing...the link you attached is just a plot of land, with no house. Generlly you have to a lot more money down when buying just the land, then buying a property with a home on it.
tommyjones
New Member
How many homes can you build on that 1/3 acre lot?
yeah, somebody that understands realestate as good as you should probably stay out of the market.
The Dude
You mean coitus?
C'mon genius...
Give us some answers...
What would you tell young adults just graduating college and getting married in this housing market that is steadily dropping in value?
"Go buy that house Junior, real estate only goes up, and they're not making anymore land!"
That's not really how the saying goes....and over long term (10-15 years) the value will only go up. The best time to buy a house would be between now and next December, just becuase of how the prices are now...
awpitt
Main Streeter
...I'll answer your question...
My $2500 rents me a view of the Potomac River...
That $1600 dollar advertised price of that house is with 20% down for a chance to stare at the side of your neighbors house ten feet away...
How many first time homebuyers have 70k cash to put down?
No thanks...
tommyjones
New Member
funny how he ignored my post about the real reason he cant buy, now or probably ever. live beyond your means and its hard to save for that downpayment
terbear1225
Well-Known Member
You're another one...
I guess you missed the forecast for another drop...
Top 10 U.S. Housing Markets Expected to Drop Composite 8% in 2008 - Seeking Alpha
Buy now and lose your azz by next December. How do you guys sleep at night?
explain to me how one would "lose their azz" by next december. Unless you're dumb enough to buy a house that you only plan to stay in for a year. otherwise, the PROJECTED drop won't affect you. are you saying that prices will never go back up?
tommyjones
New Member
Let's do some tard math...
There's an established standard that says it costs 10% of the value of a home to sell it. IE., real estate sales commissions, tax, closing costs etc...
So you do good and and invest your hard saved 20% down payment...
During the year that you own the house the market drops 8%...
You now have a 2% safety margin left out of your 20% down payment to protect you from financial ruin in a market flooded with sellers just like you if something in your life goes astray...
C'mon, tell me how smart you guys are...
i was smart enough to get a good deal on a house that i could afford. whats so hard about that, if i needed to today, i could find a house that i could afford. It might not be on the water, but i'm willing to bet there are some deals out there.
if you buy something you cant afford then yes, you might get stuck. either way, renting long term (and beyond your means) is retarded compared to buying a house that you can afford.
tommyjones
New Member
yeah, thats the tard part in the tard math he uses.
its just like that commercial where the guy buy the painting at the auction and then immediately says "ok, i'd like to sell it now"
terbear1225
Well-Known Member
what I'm saying is just like any other asset, the value may fluctuate but that doesn't mean that in the LONG TERM it won't increase in value.
terbear1225
Well-Known Member
Just coming off the biggest run-up in real estate prices in the history of the world, that's the gamble that you'll be taking...
Do you feel lucky?
You've obviously never spent anytime in the Saint Mary's County tax records and witnessed the homes that sold for nearly the same price in 1999 as they did in 1990...
what's your point? even if my house sold for the exact same price that I bought it for I will still come away with any equity that I built up. Meanwhile, when you walk away from your rented home, what will you walk away with? a pile of cashed checks?
tommyjones
New Member
Once again you missed the boat...
Buying is only better if it's cheaper than rent...
http://www.nytimes.com/2007/04/10/b...1187382259-Egru1BPvnQtlJYlNfdubcw&oref=slogin
Please show me how you could get enough rent out of one of those houses to cover the full price of buying it?
why would i invest when the market in down? thats just retarded. Now if i needed a place to live and i was ready to buy i would be able to find a place that i wouldn't loose money on while i owned it.
oh, and my credit is better than yours apparently, i wouldn't need 20% down.
awpitt
Main Streeter
You're talking about a year here. No one should buy a house if they're going to be there for a year. That's one of the few cases where renting is the way to go. If you expect to live somewhere for five years or longer, buying is the way to go. Of course, there are exception such as a military member who knows they're going to transfer in 3 years might want to buy with a low adjustable rate loan that won't adjust that much in 3 years.Let's do some tard math...
There's an established standard that says it costs 10% of the value of a home to sell it. IE., real estate sales commissions, tax, closing costs etc...
So you do good and and invest your hard saved 20% down payment...
During the year that you own the house the market drops 8%...
You now have a 2% safety margin left out of your 20% down payment to protect you from financial ruin in a market flooded with sellers just like you if something in your life goes astray...
C'mon, tell me how smart you guys are...
terbear1225
Well-Known Member
ar you telling me you're investing? if you're paying 2500 in rent AND investing anywhere close to 800 a month, # would be shocked.
otherwise, take your "ëducation" to someone who wants it.
otherwise, take your "ëducation" to someone who wants it.
terbear1225
Well-Known Member
What kind of freak are you?
Now you're saying you wouldn't buy in this down market after all that B.S you've been spewing?
you can't seem to recognize that there is a differnece between buying as an investment and buying so you have somewhere to live that's your own and you can build equity in.