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  • February 13, 2011 at 12:13 AM #666675
    ocrenter
    Participant

    congrats JP, seriously when we bought I thought we were doing some knifecatching ourselves. turned out otherwise.

    I think 35% off peak along the coast (I’m assuming that since it seemed to be your target before) is very good, and there is absolutely no need to beat yourself over it. At the most it slides another 10% over the next few years, when considering all the other factors, not really worth the wait.

    4.25% interest rate is simply awesome. what you should do is take the house’s 2000 value and apply 8% interest on a 97% LTV and see what your carrying cost would be. I get the feeling you would be better off now.

    agree with the LA strategy. good job!

    February 13, 2011 at 1:18 AM #665556
    CA renter
    Participant

    Though you think you’re settling, I think you’re going to be very happy about your purchase. You just have to remember not to focus on the “could haves” and “should haves,” and instead, enjoy your nice home, with a nice payment, and a happy husband. I’m thrilled for you guys! 🙂

    Congratulations, jp!!!!

    February 13, 2011 at 1:18 AM #665619
    CA renter
    Participant

    Though you think you’re settling, I think you’re going to be very happy about your purchase. You just have to remember not to focus on the “could haves” and “should haves,” and instead, enjoy your nice home, with a nice payment, and a happy husband. I’m thrilled for you guys! 🙂

    Congratulations, jp!!!!

    February 13, 2011 at 1:18 AM #666217
    CA renter
    Participant

    Though you think you’re settling, I think you’re going to be very happy about your purchase. You just have to remember not to focus on the “could haves” and “should haves,” and instead, enjoy your nice home, with a nice payment, and a happy husband. I’m thrilled for you guys! 🙂

    Congratulations, jp!!!!

    February 13, 2011 at 1:18 AM #666352
    CA renter
    Participant

    Though you think you’re settling, I think you’re going to be very happy about your purchase. You just have to remember not to focus on the “could haves” and “should haves,” and instead, enjoy your nice home, with a nice payment, and a happy husband. I’m thrilled for you guys! 🙂

    Congratulations, jp!!!!

    February 13, 2011 at 1:18 AM #666690
    CA renter
    Participant

    Though you think you’re settling, I think you’re going to be very happy about your purchase. You just have to remember not to focus on the “could haves” and “should haves,” and instead, enjoy your nice home, with a nice payment, and a happy husband. I’m thrilled for you guys! 🙂

    Congratulations, jp!!!!

    February 13, 2011 at 2:26 AM #665561
    pemeliza
    Participant

    jp, I am thrilled for you and your husband although I have to say your excellent NOD commentary on sdlookup will be missed 🙂

    We bought in late 2009 and certainly are by now knife catchers ourselves but honestly I don’t think we have much further to go at least in terms of nominal price corrections especially for you guys having bought at 35% off peak.

    I know it seems crazy now but I think when we all look back at this day 10 years from now (hopefully piggington will still be around!), you will be counted among the big winners for this cycle.

    February 13, 2011 at 2:26 AM #665624
    pemeliza
    Participant

    jp, I am thrilled for you and your husband although I have to say your excellent NOD commentary on sdlookup will be missed 🙂

    We bought in late 2009 and certainly are by now knife catchers ourselves but honestly I don’t think we have much further to go at least in terms of nominal price corrections especially for you guys having bought at 35% off peak.

    I know it seems crazy now but I think when we all look back at this day 10 years from now (hopefully piggington will still be around!), you will be counted among the big winners for this cycle.

    February 13, 2011 at 2:26 AM #666222
    pemeliza
    Participant

    jp, I am thrilled for you and your husband although I have to say your excellent NOD commentary on sdlookup will be missed 🙂

    We bought in late 2009 and certainly are by now knife catchers ourselves but honestly I don’t think we have much further to go at least in terms of nominal price corrections especially for you guys having bought at 35% off peak.

    I know it seems crazy now but I think when we all look back at this day 10 years from now (hopefully piggington will still be around!), you will be counted among the big winners for this cycle.

    February 13, 2011 at 2:26 AM #666357
    pemeliza
    Participant

    jp, I am thrilled for you and your husband although I have to say your excellent NOD commentary on sdlookup will be missed 🙂

    We bought in late 2009 and certainly are by now knife catchers ourselves but honestly I don’t think we have much further to go at least in terms of nominal price corrections especially for you guys having bought at 35% off peak.

    I know it seems crazy now but I think when we all look back at this day 10 years from now (hopefully piggington will still be around!), you will be counted among the big winners for this cycle.

    February 13, 2011 at 2:26 AM #666695
    pemeliza
    Participant

    jp, I am thrilled for you and your husband although I have to say your excellent NOD commentary on sdlookup will be missed 🙂

    We bought in late 2009 and certainly are by now knife catchers ourselves but honestly I don’t think we have much further to go at least in terms of nominal price corrections especially for you guys having bought at 35% off peak.

    I know it seems crazy now but I think when we all look back at this day 10 years from now (hopefully piggington will still be around!), you will be counted among the big winners for this cycle.

    February 13, 2011 at 5:19 AM #665581
    patientrenter
    Participant

    jp,

    Enjoy your home!

    As others have pointed out, there is an emotional cost to not owning a home for a very long time when all along you really want to own one. Now you won’t have that emotional cost any more. And you get lots of time to do things other than watch property prices. Time is extremely valuable.

    I don’t know your purchase price, but let’s suppose that it’s $600,000, and let’s assume a worst case of a further 33% price drop that you end up realizing when you sell 10 years from now. That’s a loss of $200,000 over 10 years, or $20,000 a year. (I am assuming you choose not to walk away then. If you did, your loss might be much less.) Isn’t your time and your emotional wellbeing worth $20,000 a year?

    I will miss your informed and objective househunting posts.

    February 13, 2011 at 5:19 AM #665644
    patientrenter
    Participant

    jp,

    Enjoy your home!

    As others have pointed out, there is an emotional cost to not owning a home for a very long time when all along you really want to own one. Now you won’t have that emotional cost any more. And you get lots of time to do things other than watch property prices. Time is extremely valuable.

    I don’t know your purchase price, but let’s suppose that it’s $600,000, and let’s assume a worst case of a further 33% price drop that you end up realizing when you sell 10 years from now. That’s a loss of $200,000 over 10 years, or $20,000 a year. (I am assuming you choose not to walk away then. If you did, your loss might be much less.) Isn’t your time and your emotional wellbeing worth $20,000 a year?

    I will miss your informed and objective househunting posts.

    February 13, 2011 at 5:19 AM #666242
    patientrenter
    Participant

    jp,

    Enjoy your home!

    As others have pointed out, there is an emotional cost to not owning a home for a very long time when all along you really want to own one. Now you won’t have that emotional cost any more. And you get lots of time to do things other than watch property prices. Time is extremely valuable.

    I don’t know your purchase price, but let’s suppose that it’s $600,000, and let’s assume a worst case of a further 33% price drop that you end up realizing when you sell 10 years from now. That’s a loss of $200,000 over 10 years, or $20,000 a year. (I am assuming you choose not to walk away then. If you did, your loss might be much less.) Isn’t your time and your emotional wellbeing worth $20,000 a year?

    I will miss your informed and objective househunting posts.

    February 13, 2011 at 5:19 AM #666377
    patientrenter
    Participant

    jp,

    Enjoy your home!

    As others have pointed out, there is an emotional cost to not owning a home for a very long time when all along you really want to own one. Now you won’t have that emotional cost any more. And you get lots of time to do things other than watch property prices. Time is extremely valuable.

    I don’t know your purchase price, but let’s suppose that it’s $600,000, and let’s assume a worst case of a further 33% price drop that you end up realizing when you sell 10 years from now. That’s a loss of $200,000 over 10 years, or $20,000 a year. (I am assuming you choose not to walk away then. If you did, your loss might be much less.) Isn’t your time and your emotional wellbeing worth $20,000 a year?

    I will miss your informed and objective househunting posts.

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