[temeculaguy]

I like that guy, dude’s got game and balance, nice read. Here’s what I didn’t like, he presented an extremely well thought out and well researched argument. It reinforces the fact, that I screwed up and missed the bottom in the stock market during the first week of march. I actually already felt I did but was kinda thinking I’d get a second chance sometime in the next 12 months. 56% probablility and rapidly decling was the aggregate prediction at the end but the narrative wasn’t as optimistic, sometimes the one picture you don’t want to look at is a mirror.

[temeculaguy]

I like that guy, dude’s got game and balance, nice read. Here’s what I didn’t like, he presented an extremely well thought out and well researched argument. It reinforces the fact, that I screwed up and missed the bottom in the stock market during the first week of march. I actually already felt I did but was kinda thinking I’d get a second chance sometime in the next 12 months. 56% probablility and rapidly decling was the aggregate prediction at the end but the narrative wasn’t as optimistic, sometimes the one picture you don’t want to look at is a mirror.

[temeculaguy]

I like that guy, dude’s got game and balance, nice read. Here’s what I didn’t like, he presented an extremely well thought out and well researched argument. It reinforces the fact, that I screwed up and missed the bottom in the stock market during the first week of march. I actually already felt I did but was kinda thinking I’d get a second chance sometime in the next 12 months. 56% probablility and rapidly decling was the aggregate prediction at the end but the narrative wasn’t as optimistic, sometimes the one picture you don’t want to look at is a mirror.

[temeculaguy]

I like that guy, dude’s got game and balance, nice read. Here’s what I didn’t like, he presented an extremely well thought out and well researched argument. It reinforces the fact, that I screwed up and missed the bottom in the stock market during the first week of march. I actually already felt I did but was kinda thinking I’d get a second chance sometime in the next 12 months. 56% probablility and rapidly decling was the aggregate prediction at the end but the narrative wasn’t as optimistic, sometimes the one picture you don’t want to look at is a mirror.

[temeculaguy]

Overall I like the plan with only two areas of concern.

#1, Will you be able to get by in a 3/2 with five people, is it smaller than your current rental? What if you need to stretch that 2 year plan into an 8 year plan?

#2, Can you qualify for both in 2011 with no credit for rent from the first. Currently, lenders have different rules, no telling how long they will keep them in place but it might be while, it might be forever. Lets say your mort on the condo is 2k and you wait a few years and want to take on a 3k mort in scripps and rent the condo for 2k, in the old days you kust need the name of your prospective renter and you only had to qual for the primary and any losses at the rental, they’ve been getting screwed on people essentially moving accross the street for half price and letting the old place go, so you would have to qual for both places total, no rent credit, you’d need to swing the whole 5k mort combined.

If your combined income is high and verifiable, like 200k and up, go for it, but of the current scripps house is out of reach, even another 25% down will put you out of affordability to swing both on paper the way the factor it now. In reality you are being truthful and can swing that scenario but they’ve gone into full court defense with no date set for changing it, you might be backing yourself into a corner and be in a position to miss your target primary at the target time. If the economy turns around by 2011 and they relax that rule about rentals, you wont be the only one in scripps shopping, lots of families will have outgrown there place that they had been stuck in for years too long and the other’s will be competing with you for th larger homes in premium areas.

It’s an interesting pickle, not sure if it is a slam dunk without a little more info and I have zero knowlege about the area, just evaluating the theme of the plan.

[temeculaguy]

Overall I like the plan with only two areas of concern.

#1, Will you be able to get by in a 3/2 with five people, is it smaller than your current rental? What if you need to stretch that 2 year plan into an 8 year plan?

#2, Can you qualify for both in 2011 with no credit for rent from the first. Currently, lenders have different rules, no telling how long they will keep them in place but it might be while, it might be forever. Lets say your mort on the condo is 2k and you wait a few years and want to take on a 3k mort in scripps and rent the condo for 2k, in the old days you kust need the name of your prospective renter and you only had to qual for the primary and any losses at the rental, they’ve been getting screwed on people essentially moving accross the street for half price and letting the old place go, so you would have to qual for both places total, no rent credit, you’d need to swing the whole 5k mort combined.

If your combined income is high and verifiable, like 200k and up, go for it, but of the current scripps house is out of reach, even another 25% down will put you out of affordability to swing both on paper the way the factor it now. In reality you are being truthful and can swing that scenario but they’ve gone into full court defense with no date set for changing it, you might be backing yourself into a corner and be in a position to miss your target primary at the target time. If the economy turns around by 2011 and they relax that rule about rentals, you wont be the only one in scripps shopping, lots of families will have outgrown there place that they had been stuck in for years too long and the other’s will be competing with you for th larger homes in premium areas.

It’s an interesting pickle, not sure if it is a slam dunk without a little more info and I have zero knowlege about the area, just evaluating the theme of the plan.

[temeculaguy]

Overall I like the plan with only two areas of concern.

#1, Will you be able to get by in a 3/2 with five people, is it smaller than your current rental? What if you need to stretch that 2 year plan into an 8 year plan?

#2, Can you qualify for both in 2011 with no credit for rent from the first. Currently, lenders have different rules, no telling how long they will keep them in place but it might be while, it might be forever. Lets say your mort on the condo is 2k and you wait a few years and want to take on a 3k mort in scripps and rent the condo for 2k, in the old days you kust need the name of your prospective renter and you only had to qual for the primary and any losses at the rental, they’ve been getting screwed on people essentially moving accross the street for half price and letting the old place go, so you would have to qual for both places total, no rent credit, you’d need to swing the whole 5k mort combined.

If your combined income is high and verifiable, like 200k and up, go for it, but of the current scripps house is out of reach, even another 25% down will put you out of affordability to swing both on paper the way the factor it now. In reality you are being truthful and can swing that scenario but they’ve gone into full court defense with no date set for changing it, you might be backing yourself into a corner and be in a position to miss your target primary at the target time. If the economy turns around by 2011 and they relax that rule about rentals, you wont be the only one in scripps shopping, lots of families will have outgrown there place that they had been stuck in for years too long and the other’s will be competing with you for th larger homes in premium areas.

It’s an interesting pickle, not sure if it is a slam dunk without a little more info and I have zero knowlege about the area, just evaluating the theme of the plan.

[temeculaguy]

Overall I like the plan with only two areas of concern.

#1, Will you be able to get by in a 3/2 with five people, is it smaller than your current rental? What if you need to stretch that 2 year plan into an 8 year plan?

#2, Can you qualify for both in 2011 with no credit for rent from the first. Currently, lenders have different rules, no telling how long they will keep them in place but it might be while, it might be forever. Lets say your mort on the condo is 2k and you wait a few years and want to take on a 3k mort in scripps and rent the condo for 2k, in the old days you kust need the name of your prospective renter and you only had to qual for the primary and any losses at the rental, they’ve been getting screwed on people essentially moving accross the street for half price and letting the old place go, so you would have to qual for both places total, no rent credit, you’d need to swing the whole 5k mort combined.

If your combined income is high and verifiable, like 200k and up, go for it, but of the current scripps house is out of reach, even another 25% down will put you out of affordability to swing both on paper the way the factor it now. In reality you are being truthful and can swing that scenario but they’ve gone into full court defense with no date set for changing it, you might be backing yourself into a corner and be in a position to miss your target primary at the target time. If the economy turns around by 2011 and they relax that rule about rentals, you wont be the only one in scripps shopping, lots of families will have outgrown there place that they had been stuck in for years too long and the other’s will be competing with you for th larger homes in premium areas.

It’s an interesting pickle, not sure if it is a slam dunk without a little more info and I have zero knowlege about the area, just evaluating the theme of the plan.

[temeculaguy]

Overall I like the plan with only two areas of concern.

#1, Will you be able to get by in a 3/2 with five people, is it smaller than your current rental? What if you need to stretch that 2 year plan into an 8 year plan?

#2, Can you qualify for both in 2011 with no credit for rent from the first. Currently, lenders have different rules, no telling how long they will keep them in place but it might be while, it might be forever. Lets say your mort on the condo is 2k and you wait a few years and want to take on a 3k mort in scripps and rent the condo for 2k, in the old days you kust need the name of your prospective renter and you only had to qual for the primary and any losses at the rental, they’ve been getting screwed on people essentially moving accross the street for half price and letting the old place go, so you would have to qual for both places total, no rent credit, you’d need to swing the whole 5k mort combined.

If your combined income is high and verifiable, like 200k and up, go for it, but of the current scripps house is out of reach, even another 25% down will put you out of affordability to swing both on paper the way the factor it now. In reality you are being truthful and can swing that scenario but they’ve gone into full court defense with no date set for changing it, you might be backing yourself into a corner and be in a position to miss your target primary at the target time. If the economy turns around by 2011 and they relax that rule about rentals, you wont be the only one in scripps shopping, lots of families will have outgrown there place that they had been stuck in for years too long and the other’s will be competing with you for th larger homes in premium areas.

It’s an interesting pickle, not sure if it is a slam dunk without a little more info and I have zero knowlege about the area, just evaluating the theme of the plan.

[temeculaguy]

Those are very good examples of how to estimate the income tax deduction, I have a basic one that I use to explain it to people who get lost in the details or are new to this (as I suspect the OP is based on his misconception, not an insult just an observation).

Here goes:

Measure the principal and interest against your current rent.

That’s it!

Taxes, insurance and hoa will essentially be covered by the tax benefit. scenarios vary a little, sometimes it’s too basic, in ocrenter’s scenario given above, it’s about a 10k rebate but 7500-8000 outlay, throw in water that landlords pay and maybe some lawn care and it’s a tie.

So when evaluating a purchase and trying to determine if it is rent nuetral compared to what you already pay in rent, just go to a basic mortgage calculator that only calculates P&I and compare the two numbers, head to head.

For condos, it doesn’t always work, especially when they have really high association fees like some high rise ones do. For suburban condos it is usually a wash, they might have a 300 assoc but it includes structural fire insurance, trash, gardner, exterior water, pool, etc. so the number is a bit of a soft number. but comparing agains rent for the same condo, you may need to adjust the formula a little.

[temeculaguy]

Those are very good examples of how to estimate the income tax deduction, I have a basic one that I use to explain it to people who get lost in the details or are new to this (as I suspect the OP is based on his misconception, not an insult just an observation).

Here goes:

Measure the principal and interest against your current rent.

That’s it!

Taxes, insurance and hoa will essentially be covered by the tax benefit. scenarios vary a little, sometimes it’s too basic, in ocrenter’s scenario given above, it’s about a 10k rebate but 7500-8000 outlay, throw in water that landlords pay and maybe some lawn care and it’s a tie.

So when evaluating a purchase and trying to determine if it is rent nuetral compared to what you already pay in rent, just go to a basic mortgage calculator that only calculates P&I and compare the two numbers, head to head.

For condos, it doesn’t always work, especially when they have really high association fees like some high rise ones do. For suburban condos it is usually a wash, they might have a 300 assoc but it includes structural fire insurance, trash, gardner, exterior water, pool, etc. so the number is a bit of a soft number. but comparing agains rent for the same condo, you may need to adjust the formula a little.

[temeculaguy]

Those are very good examples of how to estimate the income tax deduction, I have a basic one that I use to explain it to people who get lost in the details or are new to this (as I suspect the OP is based on his misconception, not an insult just an observation).

Here goes:

Measure the principal and interest against your current rent.

That’s it!

Taxes, insurance and hoa will essentially be covered by the tax benefit. scenarios vary a little, sometimes it’s too basic, in ocrenter’s scenario given above, it’s about a 10k rebate but 7500-8000 outlay, throw in water that landlords pay and maybe some lawn care and it’s a tie.

So when evaluating a purchase and trying to determine if it is rent nuetral compared to what you already pay in rent, just go to a basic mortgage calculator that only calculates P&I and compare the two numbers, head to head.

For condos, it doesn’t always work, especially when they have really high association fees like some high rise ones do. For suburban condos it is usually a wash, they might have a 300 assoc but it includes structural fire insurance, trash, gardner, exterior water, pool, etc. so the number is a bit of a soft number. but comparing agains rent for the same condo, you may need to adjust the formula a little.

[temeculaguy]

Those are very good examples of how to estimate the income tax deduction, I have a basic one that I use to explain it to people who get lost in the details or are new to this (as I suspect the OP is based on his misconception, not an insult just an observation).

Here goes:

Measure the principal and interest against your current rent.

That’s it!

Taxes, insurance and hoa will essentially be covered by the tax benefit. scenarios vary a little, sometimes it’s too basic, in ocrenter’s scenario given above, it’s about a 10k rebate but 7500-8000 outlay, throw in water that landlords pay and maybe some lawn care and it’s a tie.

So when evaluating a purchase and trying to determine if it is rent nuetral compared to what you already pay in rent, just go to a basic mortgage calculator that only calculates P&I and compare the two numbers, head to head.

For condos, it doesn’t always work, especially when they have really high association fees like some high rise ones do. For suburban condos it is usually a wash, they might have a 300 assoc but it includes structural fire insurance, trash, gardner, exterior water, pool, etc. so the number is a bit of a soft number. but comparing agains rent for the same condo, you may need to adjust the formula a little.

[temeculaguy]

Those are very good examples of how to estimate the income tax deduction, I have a basic one that I use to explain it to people who get lost in the details or are new to this (as I suspect the OP is based on his misconception, not an insult just an observation).

Here goes:

Measure the principal and interest against your current rent.

That’s it!

Taxes, insurance and hoa will essentially be covered by the tax benefit. scenarios vary a little, sometimes it’s too basic, in ocrenter’s scenario given above, it’s about a 10k rebate but 7500-8000 outlay, throw in water that landlords pay and maybe some lawn care and it’s a tie.

So when evaluating a purchase and trying to determine if it is rent nuetral compared to what you already pay in rent, just go to a basic mortgage calculator that only calculates P&I and compare the two numbers, head to head.

For condos, it doesn’t always work, especially when they have really high association fees like some high rise ones do. For suburban condos it is usually a wash, they might have a 300 assoc but it includes structural fire insurance, trash, gardner, exterior water, pool, etc. so the number is a bit of a soft number. but comparing agains rent for the same condo, you may need to adjust the formula a little.

[temeculaguy]

[quote=LuckyInOC]We bought an Amana white 25 cf sbs 12 years ago for about $1100. Moved twice and had the doors removed twice (in & out) on first 2 places. Had no problems with the ice maker or switches. I purposely bought with separate Ice/Water dispensers, so you don’t switch between ice and water, only between cubes and crushed ice. Also, simple mechanical slide switches, not those membrane pressure switches or levers.

Only minor issues: internal plastic water container doesn’t chill water to temp of refrigerator, probably too thick (under constant pressure); handles started to discolor and crack, but after 11 years of marriage, so am I.

Wife wants to remodel kitchen and compressor is starting to get noisy, so it may have a few years left, the refrigerator, not the wife…

Will probably buy a new one after the remodel, the kitchen, not the wife… although she does want a tummy tuck…

Lucky In OC[/quote]

Dude you are a riot, rack that post!!! And get her the tummy tuck before the kitchen remodel, the kitchen won’t shop at frederick’s they all want that pre-kid stomach, it will pay off in spades for you, I guarantee it, when they feel good, you win. Keep it up Lucky, I’m still laughing.

[Author]

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