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July 11, 2011 at 10:06 AM #710167July 11, 2011 at 10:19 AM #708962
evolusd
Participant[quote=AN][quote=deadzone][quote=AN]I’m not defensive about my purchase at all. If you read my posts in 2008, I stated I was expecting that i’ll probably lose another 20%. What bothers me is your broad generalization statement. If you consider giving an oposing view as whining then I’m guilty as charged. But that also mean everyone on here are whining.
BTW, if you’re right and and we’ll see a 20% hair cut across the board, then i’ll be one happy camper, since I can buy investment properties near home instead of having to look for them out of town.[/quote]
If you bought in 08, how much have are you down right now?[/quote]
I’ m up between 0-3% based on recent comps. My monthly piti over the last 3 years have been ~$100 less than comparable rents. My house came with all dual pane vinyl Windows, so its a little more efficient than 30 years old windows.[/quote]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.
July 11, 2011 at 10:19 AM #709058Participant[quote=AN][quote=deadzone][quote=AN]I’m not defensive about my purchase at all. If you read my posts in 2008, I stated I was expecting that i’ll probably lose another 20%. What bothers me is your broad generalization statement. If you consider giving an oposing view as whining then I’m guilty as charged. But that also mean everyone on here are whining.
BTW, if you’re right and and we’ll see a 20% hair cut across the board, then i’ll be one happy camper, since I can buy investment properties near home instead of having to look for them out of town.[/quote]
If you bought in 08, how much have are you down right now?[/quote]
I’ m up between 0-3% based on recent comps. My monthly piti over the last 3 years have been ~$100 less than comparable rents. My house came with all dual pane vinyl Windows, so its a little more efficient than 30 years old windows.[/quote]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.
July 11, 2011 at 10:19 AM #709657Participant[quote=AN][quote=deadzone][quote=AN]I’m not defensive about my purchase at all. If you read my posts in 2008, I stated I was expecting that i’ll probably lose another 20%. What bothers me is your broad generalization statement. If you consider giving an oposing view as whining then I’m guilty as charged. But that also mean everyone on here are whining.
BTW, if you’re right and and we’ll see a 20% hair cut across the board, then i’ll be one happy camper, since I can buy investment properties near home instead of having to look for them out of town.[/quote]
If you bought in 08, how much have are you down right now?[/quote]
I’ m up between 0-3% based on recent comps. My monthly piti over the last 3 years have been ~$100 less than comparable rents. My house came with all dual pane vinyl Windows, so its a little more efficient than 30 years old windows.[/quote]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.
July 11, 2011 at 10:19 AM #709809Participant[quote=AN][quote=deadzone][quote=AN]I’m not defensive about my purchase at all. If you read my posts in 2008, I stated I was expecting that i’ll probably lose another 20%. What bothers me is your broad generalization statement. If you consider giving an oposing view as whining then I’m guilty as charged. But that also mean everyone on here are whining.
BTW, if you’re right and and we’ll see a 20% hair cut across the board, then i’ll be one happy camper, since I can buy investment properties near home instead of having to look for them out of town.[/quote]
If you bought in 08, how much have are you down right now?[/quote]
I’ m up between 0-3% based on recent comps. My monthly piti over the last 3 years have been ~$100 less than comparable rents. My house came with all dual pane vinyl Windows, so its a little more efficient than 30 years old windows.[/quote]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.
July 11, 2011 at 10:19 AM #710172Participant[quote=AN][quote=deadzone][quote=AN]I’m not defensive about my purchase at all. If you read my posts in 2008, I stated I was expecting that i’ll probably lose another 20%. What bothers me is your broad generalization statement. If you consider giving an oposing view as whining then I’m guilty as charged. But that also mean everyone on here are whining.
BTW, if you’re right and and we’ll see a 20% hair cut across the board, then i’ll be one happy camper, since I can buy investment properties near home instead of having to look for them out of town.[/quote]
If you bought in 08, how much have are you down right now?[/quote]
I’ m up between 0-3% based on recent comps. My monthly piti over the last 3 years have been ~$100 less than comparable rents. My house came with all dual pane vinyl Windows, so its a little more efficient than 30 years old windows.[/quote]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.
July 11, 2011 at 1:59 PM #709011an
Participant[quote=evolusd]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.[/quote]
No I did not. But at the same time, I’m counting P as well. If you want a true apple to apple comparison to mortgage vs rent, it should be ITI (of 100% financing) + maintenance (true maintenance and not upgrades since your landlord will only fix it just enough to get it working and not upgrade things for you) – tax deduction vs rent. Since those $ are 100% throw away or cost of living (depending on how you look at it). P and down payment can be recovered if you sell for the price you paid for or if you plan to stay there and pay off the mortgage. If you plan to stay there till you die, and you want to be more accurate, you should also count in years you hope to be alive w/out a mortgage. You should also account for typical rise in rent. There are many more variables, but PITI vs rent is a quick and dirty calculation.July 11, 2011 at 1:59 PM #709108Participant[quote=evolusd]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.[/quote]
No I did not. But at the same time, I’m counting P as well. If you want a true apple to apple comparison to mortgage vs rent, it should be ITI (of 100% financing) + maintenance (true maintenance and not upgrades since your landlord will only fix it just enough to get it working and not upgrade things for you) – tax deduction vs rent. Since those $ are 100% throw away or cost of living (depending on how you look at it). P and down payment can be recovered if you sell for the price you paid for or if you plan to stay there and pay off the mortgage. If you plan to stay there till you die, and you want to be more accurate, you should also count in years you hope to be alive w/out a mortgage. You should also account for typical rise in rent. There are many more variables, but PITI vs rent is a quick and dirty calculation.July 11, 2011 at 1:59 PM #709706Participant[quote=evolusd]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.[/quote]
No I did not. But at the same time, I’m counting P as well. If you want a true apple to apple comparison to mortgage vs rent, it should be ITI (of 100% financing) + maintenance (true maintenance and not upgrades since your landlord will only fix it just enough to get it working and not upgrade things for you) – tax deduction vs rent. Since those $ are 100% throw away or cost of living (depending on how you look at it). P and down payment can be recovered if you sell for the price you paid for or if you plan to stay there and pay off the mortgage. If you plan to stay there till you die, and you want to be more accurate, you should also count in years you hope to be alive w/out a mortgage. You should also account for typical rise in rent. There are many more variables, but PITI vs rent is a quick and dirty calculation.July 11, 2011 at 1:59 PM #709860Participant[quote=evolusd]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.[/quote]
No I did not. But at the same time, I’m counting P as well. If you want a true apple to apple comparison to mortgage vs rent, it should be ITI (of 100% financing) + maintenance (true maintenance and not upgrades since your landlord will only fix it just enough to get it working and not upgrade things for you) – tax deduction vs rent. Since those $ are 100% throw away or cost of living (depending on how you look at it). P and down payment can be recovered if you sell for the price you paid for or if you plan to stay there and pay off the mortgage. If you plan to stay there till you die, and you want to be more accurate, you should also count in years you hope to be alive w/out a mortgage. You should also account for typical rise in rent. There are many more variables, but PITI vs rent is a quick and dirty calculation.July 11, 2011 at 1:59 PM #710222Participant[quote=evolusd]Are you taking into account your down payment when you compare piti to rent? For me, this is a huge factor that people don’t consider – the lost investment potential of their down payment. I have a hard time putting a large chunk of my eggs (20% down) in this one residential property investment.[/quote]
No I did not. But at the same time, I’m counting P as well. If you want a true apple to apple comparison to mortgage vs rent, it should be ITI (of 100% financing) + maintenance (true maintenance and not upgrades since your landlord will only fix it just enough to get it working and not upgrade things for you) – tax deduction vs rent. Since those $ are 100% throw away or cost of living (depending on how you look at it). P and down payment can be recovered if you sell for the price you paid for or if you plan to stay there and pay off the mortgage. If you plan to stay there till you die, and you want to be more accurate, you should also count in years you hope to be alive w/out a mortgage. You should also account for typical rise in rent. There are many more variables, but PITI vs rent is a quick and dirty calculation.August 6, 2011 at 10:05 PM #715578aldante
ParticipantThe house recorded on Friday I had the locks changed yesterday and spent all of today moving. Tonight is the first night in the new place. Btw sellers paid for all of the needed home repair without any negotiation. It was about 11k. I really thank all of you and your observations. It has made me realize that in the end we all have to live somewhere.
August 6, 2011 at 10:05 PM #715668ParticipantThe house recorded on Friday I had the locks changed yesterday and spent all of today moving. Tonight is the first night in the new place. Btw sellers paid for all of the needed home repair without any negotiation. It was about 11k. I really thank all of you and your observations. It has made me realize that in the end we all have to live somewhere.
August 6, 2011 at 10:05 PM #716268ParticipantThe house recorded on Friday I had the locks changed yesterday and spent all of today moving. Tonight is the first night in the new place. Btw sellers paid for all of the needed home repair without any negotiation. It was about 11k. I really thank all of you and your observations. It has made me realize that in the end we all have to live somewhere.
August 6, 2011 at 10:05 PM #716422ParticipantThe house recorded on Friday I had the locks changed yesterday and spent all of today moving. Tonight is the first night in the new place. Btw sellers paid for all of the needed home repair without any negotiation. It was about 11k. I really thank all of you and your observations. It has made me realize that in the end we all have to live somewhere.
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