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(former)FormerSanDiegan
Participant[quote=walterwhite]yeah but 2% out of pocket closing costs is a lot.[/quote]
It’s actually the same amount, it’s just your perspective that is different. Whether one overpays by 12K or pays closing costs of 12 K, or loses 12K in vegas, it’s still 12K.
Participant[quote=walterwhite] All sort of absurd as the house will be worth a third less in 2012[/quote]
In that context the 2% is irrelevant.
I personally think you are getting hung up unnecessarily. It is impossible to assess the value of a house to within 2%. This is noise. So, the point comes down to, do you like the house ? Does it suit your needs ? (We already know you can afford it).
Are you paying a premium above rent. If not, or if that premium is small enough who cares if it worth half what you paid for it in 30 years. You would essentially own it for the price of rent.2% is noise in the price of a home. Get over it.
Participant[quote=walterwhite] All sort of absurd as the house will be worth a third less in 2012[/quote]
In that context the 2% is irrelevant.
I personally think you are getting hung up unnecessarily. It is impossible to assess the value of a house to within 2%. This is noise. So, the point comes down to, do you like the house ? Does it suit your needs ? (We already know you can afford it).
Are you paying a premium above rent. If not, or if that premium is small enough who cares if it worth half what you paid for it in 30 years. You would essentially own it for the price of rent.2% is noise in the price of a home. Get over it.
Participant[quote=walterwhite] All sort of absurd as the house will be worth a third less in 2012[/quote]
In that context the 2% is irrelevant.
I personally think you are getting hung up unnecessarily. It is impossible to assess the value of a house to within 2%. This is noise. So, the point comes down to, do you like the house ? Does it suit your needs ? (We already know you can afford it).
Are you paying a premium above rent. If not, or if that premium is small enough who cares if it worth half what you paid for it in 30 years. You would essentially own it for the price of rent.2% is noise in the price of a home. Get over it.
Participant[quote=walterwhite] All sort of absurd as the house will be worth a third less in 2012[/quote]
In that context the 2% is irrelevant.
I personally think you are getting hung up unnecessarily. It is impossible to assess the value of a house to within 2%. This is noise. So, the point comes down to, do you like the house ? Does it suit your needs ? (We already know you can afford it).
Are you paying a premium above rent. If not, or if that premium is small enough who cares if it worth half what you paid for it in 30 years. You would essentially own it for the price of rent.2% is noise in the price of a home. Get over it.
Participant[quote=walterwhite] All sort of absurd as the house will be worth a third less in 2012[/quote]
In that context the 2% is irrelevant.
I personally think you are getting hung up unnecessarily. It is impossible to assess the value of a house to within 2%. This is noise. So, the point comes down to, do you like the house ? Does it suit your needs ? (We already know you can afford it).
Are you paying a premium above rent. If not, or if that premium is small enough who cares if it worth half what you paid for it in 30 years. You would essentially own it for the price of rent.2% is noise in the price of a home. Get over it.
Participant“I also remember reading/hearing that a refi can turn a primary purchase into a recourse loan, any truth to that?”
In CA this is true, although there is legislation pending to possibly change that for no-cash-out refi’s.
If you currently have 20% equity and can refinance, I would not worry about this issue, though.
Participant“I also remember reading/hearing that a refi can turn a primary purchase into a recourse loan, any truth to that?”
In CA this is true, although there is legislation pending to possibly change that for no-cash-out refi’s.
If you currently have 20% equity and can refinance, I would not worry about this issue, though.
Participant“I also remember reading/hearing that a refi can turn a primary purchase into a recourse loan, any truth to that?”
In CA this is true, although there is legislation pending to possibly change that for no-cash-out refi’s.
If you currently have 20% equity and can refinance, I would not worry about this issue, though.
Participant“I also remember reading/hearing that a refi can turn a primary purchase into a recourse loan, any truth to that?”
In CA this is true, although there is legislation pending to possibly change that for no-cash-out refi’s.
If you currently have 20% equity and can refinance, I would not worry about this issue, though.
Participant“I also remember reading/hearing that a refi can turn a primary purchase into a recourse loan, any truth to that?”
In CA this is true, although there is legislation pending to possibly change that for no-cash-out refi’s.
If you currently have 20% equity and can refinance, I would not worry about this issue, though.
Participant[quote=CONCHO][quote=meadandale]
LOL, that’s why I don’t have a prius…need to be able to make trips to the dump and haul stuff home from HD and Lowes :D[/quote]Now there’s a market opportunity — an electric truck. Those trips to the dump/home depot/lowe’s are usually pretty short. Also the grocery store/dropping kids off/etc… It could be like one of those little box vans you see in Asia, big enough to haul a lot of crap but not so big that you can’t park it. Like A Nissan Leaf but with maybe half the range and twice the hauling capacity.
I’ll bet an Asian automaker is already working on that for urban US markets…[/quote]
A domestic car maker actually has a utility truck. It’s functional but ugly… (fugly).
Participant[quote=CONCHO][quote=meadandale]
LOL, that’s why I don’t have a prius…need to be able to make trips to the dump and haul stuff home from HD and Lowes :D[/quote]Now there’s a market opportunity — an electric truck. Those trips to the dump/home depot/lowe’s are usually pretty short. Also the grocery store/dropping kids off/etc… It could be like one of those little box vans you see in Asia, big enough to haul a lot of crap but not so big that you can’t park it. Like A Nissan Leaf but with maybe half the range and twice the hauling capacity.
I’ll bet an Asian automaker is already working on that for urban US markets…[/quote]
A domestic car maker actually has a utility truck. It’s functional but ugly… (fugly).
Participant[quote=CONCHO][quote=meadandale]
LOL, that’s why I don’t have a prius…need to be able to make trips to the dump and haul stuff home from HD and Lowes :D[/quote]Now there’s a market opportunity — an electric truck. Those trips to the dump/home depot/lowe’s are usually pretty short. Also the grocery store/dropping kids off/etc… It could be like one of those little box vans you see in Asia, big enough to haul a lot of crap but not so big that you can’t park it. Like A Nissan Leaf but with maybe half the range and twice the hauling capacity.
I’ll bet an Asian automaker is already working on that for urban US markets…[/quote]
A domestic car maker actually has a utility truck. It’s functional but ugly… (fugly).
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