[quote=OntheSideLine]I wouldn’t mind resale except that there has been not been a resale in the area that I wanted that did not requisite floors to be redone, a different granite in the kitchen, newer appliances, and new paint….About. 40-50k and we didn’t even include cabinets. And the short sales/foreclosures always have shown signs of neglect…people who either didn’t want to take care of their homes or didn’t have the money to maintain…We figured Mission Ranch is about 100k overpriced but we can pick everything we want and slowly do upgrades….planning to take standard flooring and then replace later. We are mainly going to do structural upgrades with builder and do cosmetic upgrades after market. We signed the contract and are content.[/quote]
Congrats on the purchase, has to be very exciting time for you guys.
BTW, that bel etage home I linked to earlier was purchased brand new in 2001 for 850k at average interest rate of 7%, yielding a monthly mortgage of $4500 in 2001 dollar, or $5800 in 2012 dollar.
Whereas if your purchase price is $1 million, at jumbo rate of 4%, your monthly mortgage would be $3800.
