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CBad.
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May 10, 2009 at 10:53 PM #396912May 10, 2009 at 11:00 PM #396260
CBad
ParticipantI just turned 34 and I will actually own my home this December. I don’t know if virtually all people in this country are just making payments. I’m just happy I won’t be making mine next year.
May 10, 2009 at 11:00 PM #396512ParticipantI just turned 34 and I will actually own my home this December. I don’t know if virtually all people in this country are just making payments. I’m just happy I won’t be making mine next year.
May 10, 2009 at 11:00 PM #396734ParticipantI just turned 34 and I will actually own my home this December. I don’t know if virtually all people in this country are just making payments. I’m just happy I won’t be making mine next year.
May 10, 2009 at 11:00 PM #396790ParticipantI just turned 34 and I will actually own my home this December. I don’t know if virtually all people in this country are just making payments. I’m just happy I won’t be making mine next year.
May 10, 2009 at 11:00 PM #396932ParticipantI just turned 34 and I will actually own my home this December. I don’t know if virtually all people in this country are just making payments. I’m just happy I won’t be making mine next year.
May 10, 2009 at 11:23 PM #396275SDEngineer
Participant[quote=FormerOwner]
One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.
[/quote]Based on the prices I’ve seen in Temecula, I think the REO’s are selling well below what construction costs on them would run (even in a depressed construction market with labor and materials at relatively low cost). It’s basically impossible for the builders to compete there right now (probably why a lot of builders have simply mothballed their projects there).
May 10, 2009 at 11:23 PM #396527Participant[quote=FormerOwner]
One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.
[/quote]Based on the prices I’ve seen in Temecula, I think the REO’s are selling well below what construction costs on them would run (even in a depressed construction market with labor and materials at relatively low cost). It’s basically impossible for the builders to compete there right now (probably why a lot of builders have simply mothballed their projects there).
May 10, 2009 at 11:23 PM #396749Participant[quote=FormerOwner]
One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.
[/quote]Based on the prices I’ve seen in Temecula, I think the REO’s are selling well below what construction costs on them would run (even in a depressed construction market with labor and materials at relatively low cost). It’s basically impossible for the builders to compete there right now (probably why a lot of builders have simply mothballed their projects there).
May 10, 2009 at 11:23 PM #396805Participant[quote=FormerOwner]
One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.
[/quote]Based on the prices I’ve seen in Temecula, I think the REO’s are selling well below what construction costs on them would run (even in a depressed construction market with labor and materials at relatively low cost). It’s basically impossible for the builders to compete there right now (probably why a lot of builders have simply mothballed their projects there).
May 10, 2009 at 11:23 PM #396947Participant[quote=FormerOwner]
One thing I’ve been noticing though is that the new home builders (the few that are still building) are charging approximately $100,000 more than the banks for the same types of houses. I don’t think the builder’s warranty and the $10,000 tax incentive is worth $100,000! What a rip. Plus, when you buy new, you’ve got to put in the yard, the pool (if you want one), the window treatments, etc. Buying a foreclosure or short sale is definitely the way I’m going to go. You just have to get a good inspector and check the place out during the inspection period.
[/quote]Based on the prices I’ve seen in Temecula, I think the REO’s are selling well below what construction costs on them would run (even in a depressed construction market with labor and materials at relatively low cost). It’s basically impossible for the builders to compete there right now (probably why a lot of builders have simply mothballed their projects there).
May 10, 2009 at 11:28 PM #396270scaredyclassic
Participant3 kids. i would guess that a large percentage of the people who own free and clear inherited the place. maybe 1/3 ? and that the rate of people paying off their mortagges to the end has to be declining rapidly. not that this necessarily means anything significant. except that it goes to the issue of whther people are actually owning homes, which, really, may not matter.
it is a part of people’s identity. people i know who are “losing” their recently purchased homes with little down feel distress at having to be “renters”. why?
they lost their lottery ticket?
they lost something. some part of being int he game.
they certainly didn’t lose “their” house…
notthat im any better than them. i ahve the same dumb irrational mindset but in an inverted way…. I am so pleased with my newfound several year pride in being a renter (afetr a whole lifetimeof feeling kinda sheepish about it) that it kinda pains me a little to give it up. it’s like it’s currently my badge of honor, my haha, I’m smart, I zig when others zag kinda badge. not that im really smarter or doing muuch better, at least not anymore than homedebtors arereally homeowners. it’s just a goofy little piece of identity that id have to give up if i bought a house. whichit’s almost inevitable that i do,sitting onabunch of cash witha wife who wantsa house and varioussmall fry and a stable job and well, all the factors that make it slightly amazing actuarially that i don’t actuallyalready havea 30 year mortgage.
May 10, 2009 at 11:28 PM #396522Participant3 kids. i would guess that a large percentage of the people who own free and clear inherited the place. maybe 1/3 ? and that the rate of people paying off their mortagges to the end has to be declining rapidly. not that this necessarily means anything significant. except that it goes to the issue of whther people are actually owning homes, which, really, may not matter.
it is a part of people’s identity. people i know who are “losing” their recently purchased homes with little down feel distress at having to be “renters”. why?
they lost their lottery ticket?
they lost something. some part of being int he game.
they certainly didn’t lose “their” house…
notthat im any better than them. i ahve the same dumb irrational mindset but in an inverted way…. I am so pleased with my newfound several year pride in being a renter (afetr a whole lifetimeof feeling kinda sheepish about it) that it kinda pains me a little to give it up. it’s like it’s currently my badge of honor, my haha, I’m smart, I zig when others zag kinda badge. not that im really smarter or doing muuch better, at least not anymore than homedebtors arereally homeowners. it’s just a goofy little piece of identity that id have to give up if i bought a house. whichit’s almost inevitable that i do,sitting onabunch of cash witha wife who wantsa house and varioussmall fry and a stable job and well, all the factors that make it slightly amazing actuarially that i don’t actuallyalready havea 30 year mortgage.
May 10, 2009 at 11:28 PM #396744Participant3 kids. i would guess that a large percentage of the people who own free and clear inherited the place. maybe 1/3 ? and that the rate of people paying off their mortagges to the end has to be declining rapidly. not that this necessarily means anything significant. except that it goes to the issue of whther people are actually owning homes, which, really, may not matter.
it is a part of people’s identity. people i know who are “losing” their recently purchased homes with little down feel distress at having to be “renters”. why?
they lost their lottery ticket?
they lost something. some part of being int he game.
they certainly didn’t lose “their” house…
notthat im any better than them. i ahve the same dumb irrational mindset but in an inverted way…. I am so pleased with my newfound several year pride in being a renter (afetr a whole lifetimeof feeling kinda sheepish about it) that it kinda pains me a little to give it up. it’s like it’s currently my badge of honor, my haha, I’m smart, I zig when others zag kinda badge. not that im really smarter or doing muuch better, at least not anymore than homedebtors arereally homeowners. it’s just a goofy little piece of identity that id have to give up if i bought a house. whichit’s almost inevitable that i do,sitting onabunch of cash witha wife who wantsa house and varioussmall fry and a stable job and well, all the factors that make it slightly amazing actuarially that i don’t actuallyalready havea 30 year mortgage.
May 10, 2009 at 11:28 PM #396800Participant3 kids. i would guess that a large percentage of the people who own free and clear inherited the place. maybe 1/3 ? and that the rate of people paying off their mortagges to the end has to be declining rapidly. not that this necessarily means anything significant. except that it goes to the issue of whther people are actually owning homes, which, really, may not matter.
it is a part of people’s identity. people i know who are “losing” their recently purchased homes with little down feel distress at having to be “renters”. why?
they lost their lottery ticket?
they lost something. some part of being int he game.
they certainly didn’t lose “their” house…
notthat im any better than them. i ahve the same dumb irrational mindset but in an inverted way…. I am so pleased with my newfound several year pride in being a renter (afetr a whole lifetimeof feeling kinda sheepish about it) that it kinda pains me a little to give it up. it’s like it’s currently my badge of honor, my haha, I’m smart, I zig when others zag kinda badge. not that im really smarter or doing muuch better, at least not anymore than homedebtors arereally homeowners. it’s just a goofy little piece of identity that id have to give up if i bought a house. whichit’s almost inevitable that i do,sitting onabunch of cash witha wife who wantsa house and varioussmall fry and a stable job and well, all the factors that make it slightly amazing actuarially that i don’t actuallyalready havea 30 year mortgage.
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