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john67elco
ParticipantYa the next time my bank (Arrowhead Credit Union) startes a war I’m going elsewhere.
ParticipantI saw the movie “Far and Away” a long time ago. I just finished watching it right now for the second time. That is the way it should be. All you need is your claim stake, tent, horse, and an axe (wish you could’ve rode in on La Jolla or Del Mar back then and claimed 2 Acres) .
I also served in the ARMY with friends still serving in Iraq. I have a large tattoo of the flag and Sept. 11 01 on my shoulder that would probably set me in the far right group. As I watch the continuing war (which I always supported till recently) turn out to be a mess. As I look into how much property taxes are and everything else relating to real estate, makes me pretty sad. I have told my wife as we were looking at homes, “this is depressing and waste of future planning”.
I have seen in the past that Republicans (this is general statement) have increased the debt and boosted the military numbers as Democrats have cut military and decreased budgets (again general statement). Can’t we find a guy in the middle who isn’t a billionaire from Texas that doesn’t know much? So from far right to saying screw politics they all suck is kind of sad. But posted earlier this is a real estate forum but damn all the mess posted above is some kind of a part relating to the national housing mess we have seen thus far. I always wondered if the housing increase would have been this drastic if Sept 11th didn’t happen because it was on the rise before but didn’t jump a ton in one year like 05 did.
Wish list:
1. All I want is my small chunk of land with a nice home
2. Troops to come home (because we aren’t fighting majority of terrorist over there, they are right here in our back yards)
3. Continuing job stability, so far 10 years and going
4. A smarter Jessica Simpson, own that red roofed hotel in Corando, and pay no property, state, or federal taxes again.Number 4 may happen before the first 3
I liked 4plex owners last post , thats pretty much were I’v been standing…
3rd edit to my post: I remember one of my first post about my good buddy that is getting a divorce in Alta Loma and we could get a decent deal on his house for sale. Due to all the post from you nice folks we backed way off and “chilled”. I am very thankful to be posting in a forum of some well thought out entertaining folks. Thanks to you guys I am not paying 50% of my net income for a house at the moment and still renting for 18%.
ParticipantThats funny cause the Pulte Rancho Summit Heritage Homes in Rancho Cucamonga were $30k slashed off thier price sheet when my wife and I looked at em. Things never been better.
PS.. they looked at me funny when I said “call me when you cut an additional 100k off”.
Participant“Arm”ageddon
Participantlol everytime I scroll through the MLS and see codos I laugh and think of the tickle me condo post.
ParticipantHome that cost me an "ARM".
Participantlol new jedi mind trick.. I think sellers are playing the "give me a low ball offer so I can reject it" syndrome.
ParticipantMy wife put in for one of the 26 elementary school jobs in Temecula. If she gets it I still wouldn’t buy in Menifee. I stopped by the summer home project off Scott Rd and the builder said it would be 1.7% property tax. I walked out at same moment. If a large correction takes place, French Valley, Menifee, and Temecula will be hit as one of the hardest over SD. Like I said in a posting earlier check out Adrian ct in Temecula where 30% of the homes on the street are for sale and 2 months ago 75% of the street had for sale signs up. I’m still looking at Temecula at a few past 100 day listings for the low ball/ they pay all closing cost offer home.
ParticipantOne other thing. Adian ct in Temecula. There are 8 homes on that small culda-sac st. 3 are currently up for sale. There was 5 out of the 8 homes for sale 2 months ago but 2 sold (probably slashed). There are 5 other homes in that tract in walking distance for sale. Wonder what housing is going to look like drive through there as a starting point and go north into Murrieta. Go through there on the weekends. Signs actually are on top of each other on corners for open houses.
ParticipantThink about this a sec. Have you ever seen that show on A&E called King of Cars? Most people go to buy a car and only wonder what monthly payment is. Nobody ever brings a calculator and calculates the payment times 42/60 months or whatever. They just see is they can actually afford it. So with that in mind now a monthly payment at $400k loan 6.5% is $2528.27 (no pmi/Inssurance). Now do same thing on $288k at 10% $2527.41… I remember the day I first acquired my job 10 years ago and bought this 5.0 GT convertible. Lied about how much I made, forged a statement, and bought it at 20%. Guess how that sucker turned out? WHAT EVER IT TAKES I WANT IT. In the end its going to be extremely difficult to maintain current median at higher rates. The loan guy I was talking with said that Arm’s are affected by FED hikes, but 30 year fixed are adjusted by stock market and gas prices and fluctuate almost every day. Imagine high rates like in early 80’s or mid 90’s. I mean anyone ever consider the term history also repeats itself? I still may buy due to things posted in other thread but the home I buy at 450k would have to go under 300k for me to “have made a better choice” payment wise. But we will pay it down ASAP with all tax returns going to principle and when rates come back down we may refi at lower rate and rent it out or just pay it off. We rented the dump I’m in for 7 years. The home I buy will be 10 years +.
ParticipantIf rates go up as high as 1985 you will see only people that can buy homes cash. 3/4/1985 13.15%
Check history of rates here pretty cool.
http://www.mortgageresearchcenter.com/mortgagerates/ratehistory.htm
ParticipantDo what other buyers do. Buy near the airport and add on 100k for peek-boo view of screaming jets over the property. Seriously that would suck if they did do that right after you bought. I was looking with my wife in Temecula/Murrieta area at homes today and with the million that are listed; we were in a whirl wind of homes, open houses, and mess that I just said screw this and went home. Is Murrieta east of the 215 best for that city location wise? I’m coming from Inland Empire area and have no clue. We don’t know about the Temecula area but API scores are awesome and my wife is putting in for teaching elementary there (26 job openings in elementary schools in Temecula). Course we’d buy knowing we would be there 10 years but I looked into price vs. higher interest rates and it comes out close if interest rates rise to 10% and homes dropped 30%. If we left here, I’d say screw it and buy because I have been renting same house 7 years and can’t/won’t move into another rental. But seeing millions of homes out there on the market over 100 days is tripping me out. I’m going to submit low ass offers, they pay all closing cost to them all. Out of all the houses we liked, someone will do it. But any ideas on streets and on good locations of Murrieta and Temecula? Thanks all.
Side note: Drive through Murrieta and check out the ton of homes for sale, it’s a mess. I looked at a short sale for $385k and almost threw up. Picyures looked nice but weeds are taller than me and has trash and keg collers outside. What a joke.
ParticipantVanguard U.S. Growth Fund Investor
Participantnaw he bought it as a dump and had to refi– his butt off. If he doesnt clear $450 after buyer and seller comp/closing cost.. He walks away in the hole after divorce. So ya $245 back then still turned into nice size debt.
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