Is the Pizzaman a knifecatcher?

[pizzaman]

OK, heres the story. I sold my tract house last year and have been renting while keeping my eye out for something in the same area with some acreage. I followed a house that suited my needs all the way through the listing, short sale and eventual foreclosure process and with a little encouragement from Jim the Realtor gathered up enough cash to purchase it at the Trustees auction on the courthouse steps.

This is what I bought–
2700 sq ft custom home on 2.5 acres in a gated community on the west side of Murrieta.
Last sold in 2005 for $845,000
Listed for $999,000 in 2006 fell out of escrow for $975,000
Unsuccessfully listed as a short sale, then a walkaway
First of $595,000 foreclosed (Notice of sale $630,000) second of $85,000 and third of $175,000 extinguished at auction.
Purchased by me at auction for $483,600, a 43% discount from last sale and roughly 50% from peak.
House is in perfect condition and needed no repairs.

Basically I traded a 3000 sq ft tract home on a 7000 sq ft lot (Sold in 2007 for $470,000) for a custom home on 2.5 acres in the same general area. Do you think I will look back on this as a good deal or is the Pizzaman a knifecatcher?

[svelte]

Hi Pizzaman,

So now you’re having second thoughts that maybe you didn’t put your dough in the right place, eh? (sorry about the pun)

You know most of the folks on here are going to tell you that you bought too soon, so yeah they are going to call you a knife catcher.

Me, I find it very hard to rent so like you I jumped in….others can hole up in a rental for five, six, seven years if saving that extra nugget of gold is the most important thing to them. I’d rather spend that time in my own house. Well, me and the bank’s. lol

The only thing I wonder about with your purchase is the lot size. We owned a big lot once and it cost us a fortune in time and money to maintain. We went back to a smaller lot, situated just right so we still had lots of open space around that others had to maintain. Some ppl love the big patches of land and if that’s you, more power to ya.

Relax, enjoy, it’s only life! Congrats on the purchase.

[svelte]

Hi Pizzaman,

So now you’re having second thoughts that maybe you didn’t put your dough in the right place, eh? (sorry about the pun)

You know most of the folks on here are going to tell you that you bought too soon, so yeah they are going to call you a knife catcher.

Me, I find it very hard to rent so like you I jumped in….others can hole up in a rental for five, six, seven years if saving that extra nugget of gold is the most important thing to them. I’d rather spend that time in my own house. Well, me and the bank’s. lol

The only thing I wonder about with your purchase is the lot size. We owned a big lot once and it cost us a fortune in time and money to maintain. We went back to a smaller lot, situated just right so we still had lots of open space around that others had to maintain. Some ppl love the big patches of land and if that’s you, more power to ya.

Relax, enjoy, it’s only life! Congrats on the purchase.

[svelte]

Hi Pizzaman,

So now you’re having second thoughts that maybe you didn’t put your dough in the right place, eh? (sorry about the pun)

You know most of the folks on here are going to tell you that you bought too soon, so yeah they are going to call you a knife catcher.

Me, I find it very hard to rent so like you I jumped in….others can hole up in a rental for five, six, seven years if saving that extra nugget of gold is the most important thing to them. I’d rather spend that time in my own house. Well, me and the bank’s. lol

The only thing I wonder about with your purchase is the lot size. We owned a big lot once and it cost us a fortune in time and money to maintain. We went back to a smaller lot, situated just right so we still had lots of open space around that others had to maintain. Some ppl love the big patches of land and if that’s you, more power to ya.

Relax, enjoy, it’s only life! Congrats on the purchase.

[svelte]

Hi Pizzaman,

So now you’re having second thoughts that maybe you didn’t put your dough in the right place, eh? (sorry about the pun)

You know most of the folks on here are going to tell you that you bought too soon, so yeah they are going to call you a knife catcher.

Me, I find it very hard to rent so like you I jumped in….others can hole up in a rental for five, six, seven years if saving that extra nugget of gold is the most important thing to them. I’d rather spend that time in my own house. Well, me and the bank’s. lol

The only thing I wonder about with your purchase is the lot size. We owned a big lot once and it cost us a fortune in time and money to maintain. We went back to a smaller lot, situated just right so we still had lots of open space around that others had to maintain. Some ppl love the big patches of land and if that’s you, more power to ya.

Relax, enjoy, it’s only life! Congrats on the purchase.

[svelte]

Hi Pizzaman,

So now you’re having second thoughts that maybe you didn’t put your dough in the right place, eh? (sorry about the pun)

You know most of the folks on here are going to tell you that you bought too soon, so yeah they are going to call you a knife catcher.

Me, I find it very hard to rent so like you I jumped in….others can hole up in a rental for five, six, seven years if saving that extra nugget of gold is the most important thing to them. I’d rather spend that time in my own house. Well, me and the bank’s. lol

The only thing I wonder about with your purchase is the lot size. We owned a big lot once and it cost us a fortune in time and money to maintain. We went back to a smaller lot, situated just right so we still had lots of open space around that others had to maintain. Some ppl love the big patches of land and if that’s you, more power to ya.

Relax, enjoy, it’s only life! Congrats on the purchase.

[Coronita]

The way I look at it,

*this is your primary home, versus a pure investment
*you spent an extra $13,600 for a lot more home
*it’s what you want
*you’ll probably pay a little more prop taxes (because your base is higher) than your previous home

I think you will look at it right now and in the future as getting a lot more home for the same price, irrespective if the home price comes down further.

You bought what you wanted, you can afford it, it’s not an investment. You didn’t spend that much more than what your original home was worth when you sold it. Even if home prices were to fall say 50% more (doubt it, but who knows), you’re in no worse shape than if you kept your first home……So…

So no, I wouldn’t consider you to be a knife catcher.

You can’t put a price on personal enjoyment. You could live and save to wait for a lower price, get hit by a bus the next day, and have all your money go to uncle sam, to bailout other people….That would suck, wouldn’t it? Therefore, don’t look back…Enjoy your new home.

Congrats!

[Coronita]

The way I look at it,

*this is your primary home, versus a pure investment
*you spent an extra $13,600 for a lot more home
*it’s what you want
*you’ll probably pay a little more prop taxes (because your base is higher) than your previous home

I think you will look at it right now and in the future as getting a lot more home for the same price, irrespective if the home price comes down further.

You bought what you wanted, you can afford it, it’s not an investment. You didn’t spend that much more than what your original home was worth when you sold it. Even if home prices were to fall say 50% more (doubt it, but who knows), you’re in no worse shape than if you kept your first home……So…

So no, I wouldn’t consider you to be a knife catcher.

You can’t put a price on personal enjoyment. You could live and save to wait for a lower price, get hit by a bus the next day, and have all your money go to uncle sam, to bailout other people….That would suck, wouldn’t it? Therefore, don’t look back…Enjoy your new home.

Congrats!

[Coronita]

The way I look at it,

*this is your primary home, versus a pure investment
*you spent an extra $13,600 for a lot more home
*it’s what you want
*you’ll probably pay a little more prop taxes (because your base is higher) than your previous home

I think you will look at it right now and in the future as getting a lot more home for the same price, irrespective if the home price comes down further.

You bought what you wanted, you can afford it, it’s not an investment. You didn’t spend that much more than what your original home was worth when you sold it. Even if home prices were to fall say 50% more (doubt it, but who knows), you’re in no worse shape than if you kept your first home……So…

So no, I wouldn’t consider you to be a knife catcher.

You can’t put a price on personal enjoyment. You could live and save to wait for a lower price, get hit by a bus the next day, and have all your money go to uncle sam, to bailout other people….That would suck, wouldn’t it? Therefore, don’t look back…Enjoy your new home.

Congrats!

[Coronita]

The way I look at it,

*this is your primary home, versus a pure investment
*you spent an extra $13,600 for a lot more home
*it’s what you want
*you’ll probably pay a little more prop taxes (because your base is higher) than your previous home

I think you will look at it right now and in the future as getting a lot more home for the same price, irrespective if the home price comes down further.

You bought what you wanted, you can afford it, it’s not an investment. You didn’t spend that much more than what your original home was worth when you sold it. Even if home prices were to fall say 50% more (doubt it, but who knows), you’re in no worse shape than if you kept your first home……So…

So no, I wouldn’t consider you to be a knife catcher.

You can’t put a price on personal enjoyment. You could live and save to wait for a lower price, get hit by a bus the next day, and have all your money go to uncle sam, to bailout other people….That would suck, wouldn’t it? Therefore, don’t look back…Enjoy your new home.

Congrats!

[Coronita]

The way I look at it,

*this is your primary home, versus a pure investment
*you spent an extra $13,600 for a lot more home
*it’s what you want
*you’ll probably pay a little more prop taxes (because your base is higher) than your previous home

I think you will look at it right now and in the future as getting a lot more home for the same price, irrespective if the home price comes down further.

You bought what you wanted, you can afford it, it’s not an investment. You didn’t spend that much more than what your original home was worth when you sold it. Even if home prices were to fall say 50% more (doubt it, but who knows), you’re in no worse shape than if you kept your first home……So…

So no, I wouldn’t consider you to be a knife catcher.

You can’t put a price on personal enjoyment. You could live and save to wait for a lower price, get hit by a bus the next day, and have all your money go to uncle sam, to bailout other people….That would suck, wouldn’t it? Therefore, don’t look back…Enjoy your new home.

Congrats!

[peterb]

Sounds to me like you traded up in a down market. Good on-ya, mate.
Sure it can go lower, but at least you’re making something out of it. Many others are just watching. Gotta live somewhere.

[peterb]

Sounds to me like you traded up in a down market. Good on-ya, mate.
Sure it can go lower, but at least you’re making something out of it. Many others are just watching. Gotta live somewhere.

[peterb]

Sounds to me like you traded up in a down market. Good on-ya, mate.
Sure it can go lower, but at least you’re making something out of it. Many others are just watching. Gotta live somewhere.

[peterb]

Sounds to me like you traded up in a down market. Good on-ya, mate.
Sure it can go lower, but at least you’re making something out of it. Many others are just watching. Gotta live somewhere.

[Author]

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