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Participant[quote=Doooh]2008 and 2009 were some the years of exotic financing. If the interest rate increase there was a new way to finance right around the corner, ie 105% financing or interest only or Neg Am or….
I’m not a Mortgage finance guy, but I think those days are behind us. The typical ways to get easy money in the form of a mortgage are gone. Cold hard downpayment are the norm again. Interest rates matter a lot more in today environment.[/quote]
Are you sure about that? IO/NegAm stuff were big around 2005-2006, but 2008/2009? I remember 2008-2009, people were talking about the ARM tsunami. Why would there be a tsunami if IO/NegAm was still widespread? If you think this 1% rise will make a big difference, lets just wait another 3 months and see if it will or not.Participant[quote=Doooh]Your examples were based on years of change. The reality of the current example we’re in was based on 1 month. Let me repeat it again… 1 month and the 30 year saw a 1% increase!
The examples you presented are irrelevant to the reality we’re sitting in this month.[/quote]
There were several times in 2009 that rates went up by about .5% w/in 1 month, yet, we didn’t see a drop of 5% in home price. On the contrary, it was a steady rise throughout 2009. In 2008, there were a couple of periods where rates went down by about .5% w/in 1 month, yet, we didn’t see an increase of 5% in home price. Are you saying 1% is somehow the threshold?Participant[quote=Doooh]Your examples were based on years of change. The reality of the current example we’re in was based on 1 month. Let me repeat it again… 1 month and the 30 year saw a 1% increase!
The examples you presented are irrelevant to the reality we’re sitting in this month.[/quote]
There were several times in 2009 that rates went up by about .5% w/in 1 month, yet, we didn’t see a drop of 5% in home price. On the contrary, it was a steady rise throughout 2009. In 2008, there were a couple of periods where rates went down by about .5% w/in 1 month, yet, we didn’t see an increase of 5% in home price. Are you saying 1% is somehow the threshold?Participant[quote=Doooh]Your examples were based on years of change. The reality of the current example we’re in was based on 1 month. Let me repeat it again… 1 month and the 30 year saw a 1% increase!
The examples you presented are irrelevant to the reality we’re sitting in this month.[/quote]
There were several times in 2009 that rates went up by about .5% w/in 1 month, yet, we didn’t see a drop of 5% in home price. On the contrary, it was a steady rise throughout 2009. In 2008, there were a couple of periods where rates went down by about .5% w/in 1 month, yet, we didn’t see an increase of 5% in home price. Are you saying 1% is somehow the threshold?Participant[quote=Doooh]Your examples were based on years of change. The reality of the current example we’re in was based on 1 month. Let me repeat it again… 1 month and the 30 year saw a 1% increase!
The examples you presented are irrelevant to the reality we’re sitting in this month.[/quote]
There were several times in 2009 that rates went up by about .5% w/in 1 month, yet, we didn’t see a drop of 5% in home price. On the contrary, it was a steady rise throughout 2009. In 2008, there were a couple of periods where rates went down by about .5% w/in 1 month, yet, we didn’t see an increase of 5% in home price. Are you saying 1% is somehow the threshold?Participant[quote=Doooh]Your examples were based on years of change. The reality of the current example we’re in was based on 1 month. Let me repeat it again… 1 month and the 30 year saw a 1% increase!
The examples you presented are irrelevant to the reality we’re sitting in this month.[/quote]
There were several times in 2009 that rates went up by about .5% w/in 1 month, yet, we didn’t see a drop of 5% in home price. On the contrary, it was a steady rise throughout 2009. In 2008, there were a couple of periods where rates went down by about .5% w/in 1 month, yet, we didn’t see an increase of 5% in home price. Are you saying 1% is somehow the threshold?Participantduncbdunc, thanks for the info about stucco. I didn’t know that. Based on the cost waiting hawk provided about new stucco, the price isn’t that much more than repainting an entire house.
Roof, it really depend on how long you plan to live in your house and how old is the roof. Is it likely that you’ll move out before the roof even have problem? Tile roofs are supposed to last 50+ years. So, if it’s only 20 years old, you still have at least another 30 years before it might give you problem (if it was installed correctly).
Of course a house with 20 years old windows will worthless than a house w/ brand new ones. The price usually reflect it. However, the return on brand new windows is not 100%, so you can’t just subtract the cost of the windows.
If you’re talking about appliances, they can be replaced w/ all brand new appliances for <$1500. 20 year old cabinet (oak if it's your typical tract home from the 90s) should still be very functional today. It might not look fancy as brand new cabinets but again, that's a want vs need. Of course a fully upgraded house will sell more than a unremodeled house. I don't disagree with you that an unremodeled house should be worth less than a fully remodeled one. But not everyone feel a brand new kitchen is needed.
Participantduncbdunc, thanks for the info about stucco. I didn’t know that. Based on the cost waiting hawk provided about new stucco, the price isn’t that much more than repainting an entire house.
Roof, it really depend on how long you plan to live in your house and how old is the roof. Is it likely that you’ll move out before the roof even have problem? Tile roofs are supposed to last 50+ years. So, if it’s only 20 years old, you still have at least another 30 years before it might give you problem (if it was installed correctly).
Of course a house with 20 years old windows will worthless than a house w/ brand new ones. The price usually reflect it. However, the return on brand new windows is not 100%, so you can’t just subtract the cost of the windows.
If you’re talking about appliances, they can be replaced w/ all brand new appliances for <$1500. 20 year old cabinet (oak if it's your typical tract home from the 90s) should still be very functional today. It might not look fancy as brand new cabinets but again, that's a want vs need. Of course a fully upgraded house will sell more than a unremodeled house. I don't disagree with you that an unremodeled house should be worth less than a fully remodeled one. But not everyone feel a brand new kitchen is needed.
Participantduncbdunc, thanks for the info about stucco. I didn’t know that. Based on the cost waiting hawk provided about new stucco, the price isn’t that much more than repainting an entire house.
Roof, it really depend on how long you plan to live in your house and how old is the roof. Is it likely that you’ll move out before the roof even have problem? Tile roofs are supposed to last 50+ years. So, if it’s only 20 years old, you still have at least another 30 years before it might give you problem (if it was installed correctly).
Of course a house with 20 years old windows will worthless than a house w/ brand new ones. The price usually reflect it. However, the return on brand new windows is not 100%, so you can’t just subtract the cost of the windows.
If you’re talking about appliances, they can be replaced w/ all brand new appliances for <$1500. 20 year old cabinet (oak if it's your typical tract home from the 90s) should still be very functional today. It might not look fancy as brand new cabinets but again, that's a want vs need. Of course a fully upgraded house will sell more than a unremodeled house. I don't disagree with you that an unremodeled house should be worth less than a fully remodeled one. But not everyone feel a brand new kitchen is needed.
Participantduncbdunc, thanks for the info about stucco. I didn’t know that. Based on the cost waiting hawk provided about new stucco, the price isn’t that much more than repainting an entire house.
Roof, it really depend on how long you plan to live in your house and how old is the roof. Is it likely that you’ll move out before the roof even have problem? Tile roofs are supposed to last 50+ years. So, if it’s only 20 years old, you still have at least another 30 years before it might give you problem (if it was installed correctly).
Of course a house with 20 years old windows will worthless than a house w/ brand new ones. The price usually reflect it. However, the return on brand new windows is not 100%, so you can’t just subtract the cost of the windows.
If you’re talking about appliances, they can be replaced w/ all brand new appliances for <$1500. 20 year old cabinet (oak if it's your typical tract home from the 90s) should still be very functional today. It might not look fancy as brand new cabinets but again, that's a want vs need. Of course a fully upgraded house will sell more than a unremodeled house. I don't disagree with you that an unremodeled house should be worth less than a fully remodeled one. But not everyone feel a brand new kitchen is needed.
Participantduncbdunc, thanks for the info about stucco. I didn’t know that. Based on the cost waiting hawk provided about new stucco, the price isn’t that much more than repainting an entire house.
Roof, it really depend on how long you plan to live in your house and how old is the roof. Is it likely that you’ll move out before the roof even have problem? Tile roofs are supposed to last 50+ years. So, if it’s only 20 years old, you still have at least another 30 years before it might give you problem (if it was installed correctly).
Of course a house with 20 years old windows will worthless than a house w/ brand new ones. The price usually reflect it. However, the return on brand new windows is not 100%, so you can’t just subtract the cost of the windows.
If you’re talking about appliances, they can be replaced w/ all brand new appliances for <$1500. 20 year old cabinet (oak if it's your typical tract home from the 90s) should still be very functional today. It might not look fancy as brand new cabinets but again, that's a want vs need. Of course a fully upgraded house will sell more than a unremodeled house. I don't disagree with you that an unremodeled house should be worth less than a fully remodeled one. But not everyone feel a brand new kitchen is needed.
ParticipantDoesn’t roof last longer than 20 years (especially here in SD where the weather is very mild)? Restucco, why would one need to restucco the house unless there’s some damage? Repaint should be around $3k. New windows is not considered a maintenance. How many houses have pool? It also depend on how old is the pool. But I agree with the $7k-10k estimate. Refresh kitchen (another luxury), especially if the house was well maintained, 20 year old kitchen shouldn’t be that outdated. For $25k, you can completely replace your kitchen w/ mid to high end stuff. Refresh bathroom, same as kitchen. It should cost as little as $2k and as much as $20k, depending on how expensive is your taste.
ParticipantDoesn’t roof last longer than 20 years (especially here in SD where the weather is very mild)? Restucco, why would one need to restucco the house unless there’s some damage? Repaint should be around $3k. New windows is not considered a maintenance. How many houses have pool? It also depend on how old is the pool. But I agree with the $7k-10k estimate. Refresh kitchen (another luxury), especially if the house was well maintained, 20 year old kitchen shouldn’t be that outdated. For $25k, you can completely replace your kitchen w/ mid to high end stuff. Refresh bathroom, same as kitchen. It should cost as little as $2k and as much as $20k, depending on how expensive is your taste.
ParticipantDoesn’t roof last longer than 20 years (especially here in SD where the weather is very mild)? Restucco, why would one need to restucco the house unless there’s some damage? Repaint should be around $3k. New windows is not considered a maintenance. How many houses have pool? It also depend on how old is the pool. But I agree with the $7k-10k estimate. Refresh kitchen (another luxury), especially if the house was well maintained, 20 year old kitchen shouldn’t be that outdated. For $25k, you can completely replace your kitchen w/ mid to high end stuff. Refresh bathroom, same as kitchen. It should cost as little as $2k and as much as $20k, depending on how expensive is your taste.
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