[Coronita]

It's interesting that you think it is a good idea to use a home equity loan to buy a car but not OK to pay for a kitchen remodel.

My memory may be wrong because I never thought of taking money out of home equity for anything but to "improve" the home –

but am I mistaken that there was a time that Heloc money HAD to be spent on the home? And it was only when consumer debt interest became non-tax-deductable that it suddenly became the thing to use Heloc money for non-home related purchases?

 

It's generally a BAD idea to "finance" a home remodel of any sort, which is a "WANT". period…Doesn't matter where you're borrowing money from. Generally, a car is a "NEED" (though the brand can make it a "WANT"), unless you live in NYC.

Remodelling, in most cases, is not something that one "HAD" to do prior to moving into a home.

Seems like a lot of people during the past couple of years can't distinguish between "NEEDS" versus "WANTS" and when one should borrow and when one shouldn't.

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's interesting that you think it is a good idea to use a home equity loan to buy a car but not OK to pay for a kitchen remodel.

My memory may be wrong because I never thought of taking money out of home equity for anything but to "improve" the home –

but am I mistaken that there was a time that Heloc money HAD to be spent on the home? And it was only when consumer debt interest became non-tax-deductable that it suddenly became the thing to use Heloc money for non-home related purchases?

 

It's generally a BAD idea to "finance" a home remodel of any sort, which is a "WANT". period…Doesn't matter where you're borrowing money from. Generally, a car is a "NEED" (though the brand can make it a "WANT"), unless you live in NYC.

Remodelling, in most cases, is not something that one "HAD" to do prior to moving into a home.

Seems like a lot of people during the past couple of years can't distinguish between "NEEDS" versus "WANTS" and when one should borrow and when one shouldn't.

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's interesting that you think it is a good idea to use a home equity loan to buy a car but not OK to pay for a kitchen remodel.

My memory may be wrong because I never thought of taking money out of home equity for anything but to "improve" the home –

but am I mistaken that there was a time that Heloc money HAD to be spent on the home? And it was only when consumer debt interest became non-tax-deductable that it suddenly became the thing to use Heloc money for non-home related purchases?

 

It's generally a BAD idea to "finance" a home remodel of any sort, which is a "WANT". period…Doesn't matter where you're borrowing money from. Generally, a car is a "NEED" (though the brand can make it a "WANT"), unless you live in NYC.

Remodelling, in most cases, is not something that one "HAD" to do prior to moving into a home.

Seems like a lot of people during the past couple of years can't distinguish between "NEEDS" versus "WANTS" and when one should borrow and when one shouldn't.

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's interesting that you think it is a good idea to use a home equity loan to buy a car but not OK to pay for a kitchen remodel.

My memory may be wrong because I never thought of taking money out of home equity for anything but to "improve" the home –

but am I mistaken that there was a time that Heloc money HAD to be spent on the home? And it was only when consumer debt interest became non-tax-deductable that it suddenly became the thing to use Heloc money for non-home related purchases?

 

It's generally a BAD idea to "finance" a home remodel of any sort, which is a "WANT". period…Doesn't matter where you're borrowing money from. Generally, a car is a "NEED" (though the brand can make it a "WANT"), unless you live in NYC.

Remodelling, in most cases, is not something that one "HAD" to do prior to moving into a home.

Seems like a lot of people during the past couple of years can't distinguish between "NEEDS" versus "WANTS" and when one should borrow and when one shouldn't.

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's interesting that you think it is a good idea to use a home equity loan to buy a car but not OK to pay for a kitchen remodel.

My memory may be wrong because I never thought of taking money out of home equity for anything but to "improve" the home –

but am I mistaken that there was a time that Heloc money HAD to be spent on the home? And it was only when consumer debt interest became non-tax-deductable that it suddenly became the thing to use Heloc money for non-home related purchases?

 

It's generally a BAD idea to "finance" a home remodel of any sort, which is a "WANT". period…Doesn't matter where you're borrowing money from. Generally, a car is a "NEED" (though the brand can make it a "WANT"), unless you live in NYC.

Remodelling, in most cases, is not something that one "HAD" to do prior to moving into a home.

Seems like a lot of people during the past couple of years can't distinguish between "NEEDS" versus "WANTS" and when one should borrow and when one shouldn't.

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The concept of a HELOC is freakin' nuts, write a check and it's added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

Actually, for some of the financially responsible, I don't think it was a bad idea. Just that it's been well over abused.

Really, let's say someone "needs" to buy car and is financially responsible. Why not borrow on a heloc and get a lower rate than through traditional financing? Makes sense to me. Someone mentioned about the heloc stretching the terms out 30years …. But I thought you could pay the car off early even with a heloc.

The only issue I see is that a lot of people go in over their head with this as an open atm. Well, some people are idiots, that's their problem. Though, I have to admit, I've never purchased a new car other than paying it off in full the moment I left the dealership- so I can't relate.

It's no different than CC. Some people use that as an open atm, and pay 19-20% apr on their balance, while others use CC because it's convenient, and not only pay off the balance in full each month, but get something back from the CC company.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The concept of a HELOC is freakin' nuts, write a check and it's added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

Actually, for some of the financially responsible, I don't think it was a bad idea. Just that it's been well over abused.

Really, let's say someone "needs" to buy car and is financially responsible. Why not borrow on a heloc and get a lower rate than through traditional financing? Makes sense to me. Someone mentioned about the heloc stretching the terms out 30years …. But I thought you could pay the car off early even with a heloc.

The only issue I see is that a lot of people go in over their head with this as an open atm. Well, some people are idiots, that's their problem. Though, I have to admit, I've never purchased a new car other than paying it off in full the moment I left the dealership- so I can't relate.

It's no different than CC. Some people use that as an open atm, and pay 19-20% apr on their balance, while others use CC because it's convenient, and not only pay off the balance in full each month, but get something back from the CC company.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The concept of a HELOC is freakin' nuts, write a check and it's added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

Actually, for some of the financially responsible, I don't think it was a bad idea. Just that it's been well over abused.

Really, let's say someone "needs" to buy car and is financially responsible. Why not borrow on a heloc and get a lower rate than through traditional financing? Makes sense to me. Someone mentioned about the heloc stretching the terms out 30years …. But I thought you could pay the car off early even with a heloc.

The only issue I see is that a lot of people go in over their head with this as an open atm. Well, some people are idiots, that's their problem. Though, I have to admit, I've never purchased a new car other than paying it off in full the moment I left the dealership- so I can't relate.

It's no different than CC. Some people use that as an open atm, and pay 19-20% apr on their balance, while others use CC because it's convenient, and not only pay off the balance in full each month, but get something back from the CC company.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The concept of a HELOC is freakin' nuts, write a check and it's added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

Actually, for some of the financially responsible, I don't think it was a bad idea. Just that it's been well over abused.

Really, let's say someone "needs" to buy car and is financially responsible. Why not borrow on a heloc and get a lower rate than through traditional financing? Makes sense to me. Someone mentioned about the heloc stretching the terms out 30years …. But I thought you could pay the car off early even with a heloc.

The only issue I see is that a lot of people go in over their head with this as an open atm. Well, some people are idiots, that's their problem. Though, I have to admit, I've never purchased a new car other than paying it off in full the moment I left the dealership- so I can't relate.

It's no different than CC. Some people use that as an open atm, and pay 19-20% apr on their balance, while others use CC because it's convenient, and not only pay off the balance in full each month, but get something back from the CC company.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

The concept of a HELOC is freakin' nuts, write a check and it's added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

Actually, for some of the financially responsible, I don't think it was a bad idea. Just that it's been well over abused.

Really, let's say someone "needs" to buy car and is financially responsible. Why not borrow on a heloc and get a lower rate than through traditional financing? Makes sense to me. Someone mentioned about the heloc stretching the terms out 30years …. But I thought you could pay the car off early even with a heloc.

The only issue I see is that a lot of people go in over their head with this as an open atm. Well, some people are idiots, that's their problem. Though, I have to admit, I've never purchased a new car other than paying it off in full the moment I left the dealership- so I can't relate.

It's no different than CC. Some people use that as an open atm, and pay 19-20% apr on their balance, while others use CC because it's convenient, and not only pay off the balance in full each month, but get something back from the CC company.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I like CR and Arabella but still think they are overpriced. The MR & HOA in Arabella is almost $3K/year more than CR. Is it just me or some of you have experienced similar on the attitude of the salespeople is grumpy, snooty and bitchy in CR? The sales pitch between CR and Arabella is day and night but they both work for the same builder. I’ve been to both subdivisions with friends several times and we all walked away with the same feeling about CR.

Yup, that's the Pardee treatment, unless you're asian 🙂 (just kidding)

 

My opinion. In general, I find Pardee to be overpriced for what they offer in terms of quality, craftsmanship, sqft etc. Not saying it's bad, but for tract homes, it could be better.

As for Carriage Run specifically, imho this community imho is a baster child community. Most people will probably find that they will quickly outgrow this home with 1 child. The problem i have with this community is that it's "suppose" to be a starter home. Well, at high seven to $800k+, it's not much of a starter home for most people….It doesn't make sense for to me for people to move up from say an attached home in CV to this place at $800k and then trade up again to something larger….You're paying a huge premium to have the privilege of being the first owner, but there's no way in hell imho that this community is going to "hold value" better than other communities that have already started to show some decline.

As a reference point, back in early 2004, an ok 2600sqft 4bed+bonus/3bath or 5/3bath home in a second tier (non-luxury) community in Torrey Hills would set you back about $850k-$950k. Recently, I've been noticing a few homes have in been going into escrow with a range of this asking price, albeit quickly. So it appears we're starting to see some price correction. Problem is CR or any Pardee Community is still being priced at 2005-2006 peak prices. Personally, I wouldn't buy a Carriage Run home unless pricing was closer to the $650k in today's pricing, but that's just me.

I'd consider resale before considering Pardee frankly. You'll probably have more wiggle room, and be able to get something more for the price Pardee is asking.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I like CR and Arabella but still think they are overpriced. The MR & HOA in Arabella is almost $3K/year more than CR. Is it just me or some of you have experienced similar on the attitude of the salespeople is grumpy, snooty and bitchy in CR? The sales pitch between CR and Arabella is day and night but they both work for the same builder. I’ve been to both subdivisions with friends several times and we all walked away with the same feeling about CR.

Yup, that's the Pardee treatment, unless you're asian 🙂 (just kidding)

 

My opinion. In general, I find Pardee to be overpriced for what they offer in terms of quality, craftsmanship, sqft etc. Not saying it's bad, but for tract homes, it could be better.

As for Carriage Run specifically, imho this community imho is a baster child community. Most people will probably find that they will quickly outgrow this home with 1 child. The problem i have with this community is that it's "suppose" to be a starter home. Well, at high seven to $800k+, it's not much of a starter home for most people….It doesn't make sense for to me for people to move up from say an attached home in CV to this place at $800k and then trade up again to something larger….You're paying a huge premium to have the privilege of being the first owner, but there's no way in hell imho that this community is going to "hold value" better than other communities that have already started to show some decline.

As a reference point, back in early 2004, an ok 2600sqft 4bed+bonus/3bath or 5/3bath home in a second tier (non-luxury) community in Torrey Hills would set you back about $850k-$950k. Recently, I've been noticing a few homes have in been going into escrow with a range of this asking price, albeit quickly. So it appears we're starting to see some price correction. Problem is CR or any Pardee Community is still being priced at 2005-2006 peak prices. Personally, I wouldn't buy a Carriage Run home unless pricing was closer to the $650k in today's pricing, but that's just me.

I'd consider resale before considering Pardee frankly. You'll probably have more wiggle room, and be able to get something more for the price Pardee is asking.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I like CR and Arabella but still think they are overpriced. The MR & HOA in Arabella is almost $3K/year more than CR. Is it just me or some of you have experienced similar on the attitude of the salespeople is grumpy, snooty and bitchy in CR? The sales pitch between CR and Arabella is day and night but they both work for the same builder. I’ve been to both subdivisions with friends several times and we all walked away with the same feeling about CR.

Yup, that's the Pardee treatment, unless you're asian 🙂 (just kidding)

 

My opinion. In general, I find Pardee to be overpriced for what they offer in terms of quality, craftsmanship, sqft etc. Not saying it's bad, but for tract homes, it could be better.

As for Carriage Run specifically, imho this community imho is a baster child community. Most people will probably find that they will quickly outgrow this home with 1 child. The problem i have with this community is that it's "suppose" to be a starter home. Well, at high seven to $800k+, it's not much of a starter home for most people….It doesn't make sense for to me for people to move up from say an attached home in CV to this place at $800k and then trade up again to something larger….You're paying a huge premium to have the privilege of being the first owner, but there's no way in hell imho that this community is going to "hold value" better than other communities that have already started to show some decline.

As a reference point, back in early 2004, an ok 2600sqft 4bed+bonus/3bath or 5/3bath home in a second tier (non-luxury) community in Torrey Hills would set you back about $850k-$950k. Recently, I've been noticing a few homes have in been going into escrow with a range of this asking price, albeit quickly. So it appears we're starting to see some price correction. Problem is CR or any Pardee Community is still being priced at 2005-2006 peak prices. Personally, I wouldn't buy a Carriage Run home unless pricing was closer to the $650k in today's pricing, but that's just me.

I'd consider resale before considering Pardee frankly. You'll probably have more wiggle room, and be able to get something more for the price Pardee is asking.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I like CR and Arabella but still think they are overpriced. The MR & HOA in Arabella is almost $3K/year more than CR. Is it just me or some of you have experienced similar on the attitude of the salespeople is grumpy, snooty and bitchy in CR? The sales pitch between CR and Arabella is day and night but they both work for the same builder. I’ve been to both subdivisions with friends several times and we all walked away with the same feeling about CR.

Yup, that's the Pardee treatment, unless you're asian 🙂 (just kidding)

 

My opinion. In general, I find Pardee to be overpriced for what they offer in terms of quality, craftsmanship, sqft etc. Not saying it's bad, but for tract homes, it could be better.

As for Carriage Run specifically, imho this community imho is a baster child community. Most people will probably find that they will quickly outgrow this home with 1 child. The problem i have with this community is that it's "suppose" to be a starter home. Well, at high seven to $800k+, it's not much of a starter home for most people….It doesn't make sense for to me for people to move up from say an attached home in CV to this place at $800k and then trade up again to something larger….You're paying a huge premium to have the privilege of being the first owner, but there's no way in hell imho that this community is going to "hold value" better than other communities that have already started to show some decline.

As a reference point, back in early 2004, an ok 2600sqft 4bed+bonus/3bath or 5/3bath home in a second tier (non-luxury) community in Torrey Hills would set you back about $850k-$950k. Recently, I've been noticing a few homes have in been going into escrow with a range of this asking price, albeit quickly. So it appears we're starting to see some price correction. Problem is CR or any Pardee Community is still being priced at 2005-2006 peak prices. Personally, I wouldn't buy a Carriage Run home unless pricing was closer to the $650k in today's pricing, but that's just me.

I'd consider resale before considering Pardee frankly. You'll probably have more wiggle room, and be able to get something more for the price Pardee is asking.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I like CR and Arabella but still think they are overpriced. The MR & HOA in Arabella is almost $3K/year more than CR. Is it just me or some of you have experienced similar on the attitude of the salespeople is grumpy, snooty and bitchy in CR? The sales pitch between CR and Arabella is day and night but they both work for the same builder. I’ve been to both subdivisions with friends several times and we all walked away with the same feeling about CR.

Yup, that's the Pardee treatment, unless you're asian 🙂 (just kidding)

 

My opinion. In general, I find Pardee to be overpriced for what they offer in terms of quality, craftsmanship, sqft etc. Not saying it's bad, but for tract homes, it could be better.

As for Carriage Run specifically, imho this community imho is a baster child community. Most people will probably find that they will quickly outgrow this home with 1 child. The problem i have with this community is that it's "suppose" to be a starter home. Well, at high seven to $800k+, it's not much of a starter home for most people….It doesn't make sense for to me for people to move up from say an attached home in CV to this place at $800k and then trade up again to something larger….You're paying a huge premium to have the privilege of being the first owner, but there's no way in hell imho that this community is going to "hold value" better than other communities that have already started to show some decline.

As a reference point, back in early 2004, an ok 2600sqft 4bed+bonus/3bath or 5/3bath home in a second tier (non-luxury) community in Torrey Hills would set you back about $850k-$950k. Recently, I've been noticing a few homes have in been going into escrow with a range of this asking price, albeit quickly. So it appears we're starting to see some price correction. Problem is CR or any Pardee Community is still being priced at 2005-2006 peak prices. Personally, I wouldn't buy a Carriage Run home unless pricing was closer to the $650k in today's pricing, but that's just me.

I'd consider resale before considering Pardee frankly. You'll probably have more wiggle room, and be able to get something more for the price Pardee is asking.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

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