Matt, I was thinking the exact same thing as i scrolled down until read your post, I hope 23109 doesn’t see this. I know he will and he’s been a good sport but at some point he’s going to realize that the house he rents will sell in the high 200’s before too long, it just will, granite or not, nobody will pay 350-400 for a 1900 sq ft when the big ones are heading towards $100 a ft.
New guy, you’ll be fine and you are brave man for throwing up your numbers, come back and visit us sometime. I suppose over time we will be saying goodbye to a lot of good people. I paid $100 a ft in 1992 and $80 a ft in 1998, but gas was a dollar in 92, electric was $70 and I my income was less than half of what it is today, at $115 a ft for a long term investment in one of the premier neighborhoods, you did good. Maybe you could have done better but have no regrets because you went in knowing the facts and are prepared for any downturn unlike most buyers in the last few years. You have cusion for the bumpy parts because you can afford it now and the payment won’t be going up. Seems like fiction these days that someone bought a house with 20% down, conventional 30 year loan, can afford it and plans on staying there for years, that’s the way it was meant to be and that formula has always worked. BTW, My last house was a lennar, they build a nice house.
