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patientrenter
ParticipantFair enough, dave, and I would be thrilled if the incentives were changed in an effective way. But at this point, I’d rather just get the agents out of the way. I’d recommend that as a first choice, and if that cannot be made to work then work on the agent incentives. I’ve seen (and I’m sure you have too) endlessly clever schemes cooked up by agents to compensate themselves regardless of the real long term outcomes for the principals. It’s easier to set up your farm away from the swamp than in it.
ParticipantFair enough, dave, and I would be thrilled if the incentives were changed in an effective way. But at this point, I’d rather just get the agents out of the way. I’d recommend that as a first choice, and if that cannot be made to work then work on the agent incentives. I’ve seen (and I’m sure you have too) endlessly clever schemes cooked up by agents to compensate themselves regardless of the real long term outcomes for the principals. It’s easier to set up your farm away from the swamp than in it.
ParticipantFair enough, dave, and I would be thrilled if the incentives were changed in an effective way. But at this point, I’d rather just get the agents out of the way. I’d recommend that as a first choice, and if that cannot be made to work then work on the agent incentives. I’ve seen (and I’m sure you have too) endlessly clever schemes cooked up by agents to compensate themselves regardless of the real long term outcomes for the principals. It’s easier to set up your farm away from the swamp than in it.
Participantveees, have you ever fished? You know that the key is to get the fish interested, and then start moving the bait away. That’s when the fish makes its mistake. Be careful!
Participantveees, have you ever fished? You know that the key is to get the fish interested, and then start moving the bait away. That’s when the fish makes its mistake. Be careful!
Participantveees, have you ever fished? You know that the key is to get the fish interested, and then start moving the bait away. That’s when the fish makes its mistake. Be careful!
Participantveees, have you ever fished? You know that the key is to get the fish interested, and then start moving the bait away. That’s when the fish makes its mistake. Be careful!
Participantveees, have you ever fished? You know that the key is to get the fish interested, and then start moving the bait away. That’s when the fish makes its mistake. Be careful!
Participant[quote=goblue]
…I don’t know what your definition is of insanely wealthy is, but while I certaintly have no issues affording the home I don’t consider myself wealthy enough to blindy throw money away. This is a big decision for us and the difficult part is that it is a financial decision and a lifestyle decision. I am not approaching the home purchase as a personal ATM, which is partly what got the country into this mess in the first place. I would be more than happy with an average annual return of 1-2% over 10 years.[/quote]
Wow! If you really will only be happy with selling in the future for more than you paid, then you are essentially saying that you are only happy with the price if you don’t really have to pay it, in the end. Sh*$#t, if that were true, I could buy a $5 million house! (My house budget is $300K.)
What happens if, in the future, you must sell, and the house is worth 30% less than you paid? With that scenario, how much would you be comfortable paying? Personally, that’s the number I’d be targeting for my budget. Then find the best house for that price.
Participant[quote=goblue]
…I don’t know what your definition is of insanely wealthy is, but while I certaintly have no issues affording the home I don’t consider myself wealthy enough to blindy throw money away. This is a big decision for us and the difficult part is that it is a financial decision and a lifestyle decision. I am not approaching the home purchase as a personal ATM, which is partly what got the country into this mess in the first place. I would be more than happy with an average annual return of 1-2% over 10 years.[/quote]
Wow! If you really will only be happy with selling in the future for more than you paid, then you are essentially saying that you are only happy with the price if you don’t really have to pay it, in the end. Sh*$#t, if that were true, I could buy a $5 million house! (My house budget is $300K.)
What happens if, in the future, you must sell, and the house is worth 30% less than you paid? With that scenario, how much would you be comfortable paying? Personally, that’s the number I’d be targeting for my budget. Then find the best house for that price.
Participant[quote=goblue]
…I don’t know what your definition is of insanely wealthy is, but while I certaintly have no issues affording the home I don’t consider myself wealthy enough to blindy throw money away. This is a big decision for us and the difficult part is that it is a financial decision and a lifestyle decision. I am not approaching the home purchase as a personal ATM, which is partly what got the country into this mess in the first place. I would be more than happy with an average annual return of 1-2% over 10 years.[/quote]
Wow! If you really will only be happy with selling in the future for more than you paid, then you are essentially saying that you are only happy with the price if you don’t really have to pay it, in the end. Sh*$#t, if that were true, I could buy a $5 million house! (My house budget is $300K.)
What happens if, in the future, you must sell, and the house is worth 30% less than you paid? With that scenario, how much would you be comfortable paying? Personally, that’s the number I’d be targeting for my budget. Then find the best house for that price.
Participant[quote=goblue]
…I don’t know what your definition is of insanely wealthy is, but while I certaintly have no issues affording the home I don’t consider myself wealthy enough to blindy throw money away. This is a big decision for us and the difficult part is that it is a financial decision and a lifestyle decision. I am not approaching the home purchase as a personal ATM, which is partly what got the country into this mess in the first place. I would be more than happy with an average annual return of 1-2% over 10 years.[/quote]
Wow! If you really will only be happy with selling in the future for more than you paid, then you are essentially saying that you are only happy with the price if you don’t really have to pay it, in the end. Sh*$#t, if that were true, I could buy a $5 million house! (My house budget is $300K.)
What happens if, in the future, you must sell, and the house is worth 30% less than you paid? With that scenario, how much would you be comfortable paying? Personally, that’s the number I’d be targeting for my budget. Then find the best house for that price.
Participant[quote=goblue]
…I don’t know what your definition is of insanely wealthy is, but while I certaintly have no issues affording the home I don’t consider myself wealthy enough to blindy throw money away. This is a big decision for us and the difficult part is that it is a financial decision and a lifestyle decision. I am not approaching the home purchase as a personal ATM, which is partly what got the country into this mess in the first place. I would be more than happy with an average annual return of 1-2% over 10 years.[/quote]
Wow! If you really will only be happy with selling in the future for more than you paid, then you are essentially saying that you are only happy with the price if you don’t really have to pay it, in the end. Sh*$#t, if that were true, I could buy a $5 million house! (My house budget is $300K.)
What happens if, in the future, you must sell, and the house is worth 30% less than you paid? With that scenario, how much would you be comfortable paying? Personally, that’s the number I’d be targeting for my budget. Then find the best house for that price.
Participant[quote=peterb]In an inflationary environment, I would agree completely. But in a deflationary environment, the risk of losing the downpayment is fairly great. Assuming 5% to 20% plus closing costs, that’s a chunk of change I’d rather keep for myself. But, if you could get a zero down loan, that would be worthwhile, IMO.
In delfation, keeping the cash turns out to often be the best “investment” of all.[/quote]
peterb, isn’t 3% down the most common payment on new purchases now? I am excluding people who are buying with prior home gains. For those folks, they are just “playing with their winnings”. Not rational, but that’s how they think.
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