I’m officially a knifecatcher

[patientrenter]

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.

[XIANGBEE]

I appreciate your NOD information on SDLOOKUP. I am long time reader of Pigington but I never registered in here. I had to register today to thank you as well as everyone who posted here and SDLOOKUP in the past few years. I myself caught a knife just now as well. However, I am very happy even knowing the price trend is going further down.

This will be our 5th moving in less than 7 years. We had to accommodate our family growth. We were kicked out by short selling landlord. With our 3rd child coming in this world less than 3 months, I have decided this is it. I do not want my kids living in hole anymore. I had the same painful arguement with my wife in the past years. BTW, that didn’t affect our relationship. I think everyone deserves a quality life and there are things much more important than to find the bottom.

We got our then dream house back in 2004~2007. Our dream house is now upgraded. See, people get greedy.

[XIANGBEE]

I appreciate your NOD information on SDLOOKUP. I am long time reader of Pigington but I never registered in here. I had to register today to thank you as well as everyone who posted here and SDLOOKUP in the past few years. I myself caught a knife just now as well. However, I am very happy even knowing the price trend is going further down.

This will be our 5th moving in less than 7 years. We had to accommodate our family growth. We were kicked out by short selling landlord. With our 3rd child coming in this world less than 3 months, I have decided this is it. I do not want my kids living in hole anymore. I had the same painful arguement with my wife in the past years. BTW, that didn’t affect our relationship. I think everyone deserves a quality life and there are things much more important than to find the bottom.

We got our then dream house back in 2004~2007. Our dream house is now upgraded. See, people get greedy.

[XIANGBEE]

I appreciate your NOD information on SDLOOKUP. I am long time reader of Pigington but I never registered in here. I had to register today to thank you as well as everyone who posted here and SDLOOKUP in the past few years. I myself caught a knife just now as well. However, I am very happy even knowing the price trend is going further down.

This will be our 5th moving in less than 7 years. We had to accommodate our family growth. We were kicked out by short selling landlord. With our 3rd child coming in this world less than 3 months, I have decided this is it. I do not want my kids living in hole anymore. I had the same painful arguement with my wife in the past years. BTW, that didn’t affect our relationship. I think everyone deserves a quality life and there are things much more important than to find the bottom.

We got our then dream house back in 2004~2007. Our dream house is now upgraded. See, people get greedy.

[XIANGBEE]

I appreciate your NOD information on SDLOOKUP. I am long time reader of Pigington but I never registered in here. I had to register today to thank you as well as everyone who posted here and SDLOOKUP in the past few years. I myself caught a knife just now as well. However, I am very happy even knowing the price trend is going further down.

This will be our 5th moving in less than 7 years. We had to accommodate our family growth. We were kicked out by short selling landlord. With our 3rd child coming in this world less than 3 months, I have decided this is it. I do not want my kids living in hole anymore. I had the same painful arguement with my wife in the past years. BTW, that didn’t affect our relationship. I think everyone deserves a quality life and there are things much more important than to find the bottom.

We got our then dream house back in 2004~2007. Our dream house is now upgraded. See, people get greedy.

[XIANGBEE]

I appreciate your NOD information on SDLOOKUP. I am long time reader of Pigington but I never registered in here. I had to register today to thank you as well as everyone who posted here and SDLOOKUP in the past few years. I myself caught a knife just now as well. However, I am very happy even knowing the price trend is going further down.

This will be our 5th moving in less than 7 years. We had to accommodate our family growth. We were kicked out by short selling landlord. With our 3rd child coming in this world less than 3 months, I have decided this is it. I do not want my kids living in hole anymore. I had the same painful arguement with my wife in the past years. BTW, that didn’t affect our relationship. I think everyone deserves a quality life and there are things much more important than to find the bottom.

We got our then dream house back in 2004~2007. Our dream house is now upgraded. See, people get greedy.

[ocrenter]

this is not JP’s house, but I think it illustrates my point.

let’s take a recently closed UTC home 4318 Cozzens, 2687 sqft, closed for $685k.

going back to 2000, there’s couple of homes a block away:

4224 Karensue Ave, 2100 sqft sold for $432,000

5986 Karensue Ln, 3000 sqft sold for $550,000

since the sqft of the subject home is smack in the middle of these two, let’s just average them out to a year 2000 price of 491k.

interest rate back in the days was 8%, at 3.5% down, monthly mortgage was $3470.

moving forward to 2011, at 4.25% and 3.5% down, monthly is $3200.

not saying the folks that purchased in 2000 can’t just refi to a lower rate now, but back in the days they committed to that purchase at that monthly carrying cost probably without realizing interest rate would get so low in the future.

just remember what the government is trying to do, suppress interest rate, bring down value of the dollar, in order to artificially keep prices “up.” so you do not see nominal drops. But the drops are here. via inflation adjustment and the fact that JP is able to find a 3% down 30 year fixed loan for 4.25%.

[ocrenter]

this is not JP’s house, but I think it illustrates my point.

let’s take a recently closed UTC home 4318 Cozzens, 2687 sqft, closed for $685k.

going back to 2000, there’s couple of homes a block away:

4224 Karensue Ave, 2100 sqft sold for $432,000

5986 Karensue Ln, 3000 sqft sold for $550,000

since the sqft of the subject home is smack in the middle of these two, let’s just average them out to a year 2000 price of 491k.

interest rate back in the days was 8%, at 3.5% down, monthly mortgage was $3470.

moving forward to 2011, at 4.25% and 3.5% down, monthly is $3200.

not saying the folks that purchased in 2000 can’t just refi to a lower rate now, but back in the days they committed to that purchase at that monthly carrying cost probably without realizing interest rate would get so low in the future.

just remember what the government is trying to do, suppress interest rate, bring down value of the dollar, in order to artificially keep prices “up.” so you do not see nominal drops. But the drops are here. via inflation adjustment and the fact that JP is able to find a 3% down 30 year fixed loan for 4.25%.

[ocrenter]

this is not JP’s house, but I think it illustrates my point.

let’s take a recently closed UTC home 4318 Cozzens, 2687 sqft, closed for $685k.

going back to 2000, there’s couple of homes a block away:

4224 Karensue Ave, 2100 sqft sold for $432,000

5986 Karensue Ln, 3000 sqft sold for $550,000

since the sqft of the subject home is smack in the middle of these two, let’s just average them out to a year 2000 price of 491k.

interest rate back in the days was 8%, at 3.5% down, monthly mortgage was $3470.

moving forward to 2011, at 4.25% and 3.5% down, monthly is $3200.

not saying the folks that purchased in 2000 can’t just refi to a lower rate now, but back in the days they committed to that purchase at that monthly carrying cost probably without realizing interest rate would get so low in the future.

just remember what the government is trying to do, suppress interest rate, bring down value of the dollar, in order to artificially keep prices “up.” so you do not see nominal drops. But the drops are here. via inflation adjustment and the fact that JP is able to find a 3% down 30 year fixed loan for 4.25%.

[ocrenter]

this is not JP’s house, but I think it illustrates my point.

let’s take a recently closed UTC home 4318 Cozzens, 2687 sqft, closed for $685k.

going back to 2000, there’s couple of homes a block away:

4224 Karensue Ave, 2100 sqft sold for $432,000

5986 Karensue Ln, 3000 sqft sold for $550,000

since the sqft of the subject home is smack in the middle of these two, let’s just average them out to a year 2000 price of 491k.

interest rate back in the days was 8%, at 3.5% down, monthly mortgage was $3470.

moving forward to 2011, at 4.25% and 3.5% down, monthly is $3200.

not saying the folks that purchased in 2000 can’t just refi to a lower rate now, but back in the days they committed to that purchase at that monthly carrying cost probably without realizing interest rate would get so low in the future.

just remember what the government is trying to do, suppress interest rate, bring down value of the dollar, in order to artificially keep prices “up.” so you do not see nominal drops. But the drops are here. via inflation adjustment and the fact that JP is able to find a 3% down 30 year fixed loan for 4.25%.

[ocrenter]

this is not JP’s house, but I think it illustrates my point.

let’s take a recently closed UTC home 4318 Cozzens, 2687 sqft, closed for $685k.

going back to 2000, there’s couple of homes a block away:

4224 Karensue Ave, 2100 sqft sold for $432,000

5986 Karensue Ln, 3000 sqft sold for $550,000

since the sqft of the subject home is smack in the middle of these two, let’s just average them out to a year 2000 price of 491k.

interest rate back in the days was 8%, at 3.5% down, monthly mortgage was $3470.

moving forward to 2011, at 4.25% and 3.5% down, monthly is $3200.

not saying the folks that purchased in 2000 can’t just refi to a lower rate now, but back in the days they committed to that purchase at that monthly carrying cost probably without realizing interest rate would get so low in the future.

just remember what the government is trying to do, suppress interest rate, bring down value of the dollar, in order to artificially keep prices “up.” so you do not see nominal drops. But the drops are here. via inflation adjustment and the fact that JP is able to find a 3% down 30 year fixed loan for 4.25%.

[DataAgent]

Congrats jp! Does this event mean no more updates on SDlookup?

[DataAgent]

Congrats jp! Does this event mean no more updates on SDlookup?

[DataAgent]

Congrats jp! Does this event mean no more updates on SDlookup?

[DataAgent]

Congrats jp! Does this event mean no more updates on SDlookup?

[Author]

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