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XBoxBoy
ParticipantWhile I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.
I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.
For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)
JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.
Of course, time will tell whether this optimism and bidding war is justified.
XBoxBoy
ParticipantWhile I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.
I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.
For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)
JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.
Of course, time will tell whether this optimism and bidding war is justified.
XBoxBoy
ParticipantMy sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
XBoxBoy
ParticipantMy sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
XBoxBoy
ParticipantMy sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
XBoxBoy
ParticipantMy sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
XBoxBoy
ParticipantMy sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
XBoxBoy
Participant[quote=Homeschool2Boys]Our marriage and our kids are happy, so I think all I need to change is MY situation, and somehow reduce our expenses, by either selling or refinancing.[/quote]
Homey,
Your problem is not your house, nor is it your finances. Your problem is that you have set too high of expectations of yourself. Go back and reread TemeculaGuy’s post, and then read it again, and again, until it manages to sink in. Then do a serious reality check.
From what you say, making 270k a year, mortgage of 62k a year, you should still have plenty of money to relax and enjoy life. Sure 100k is gonna go to taxes, but that’s still 100k left over. If you cut your hours, that will be less, but hey, why not follow TG’s advice and refi to a 30yr?
The more I reread this thread and your posts, I can’t stress to you that I personally think that selling your house would be a mistake. The disruption and transaction costs are much higher than you might think. You’d have to rent for several years if not longer, maybe moving a couple times. Things your kids and wife might not deal with well. And selling your house will solve nothing, because the problem is not your house, or your finances, the problem is that you haven’t found the calmness inside you to relax and enjoy your life. How to do that? I’m not so sure I have a ready answer, but let’s at least identify the real problem.
Just my opinion mind you, but hope you find it helpful.
XBoxBoy
Participant[quote=Homeschool2Boys]Our marriage and our kids are happy, so I think all I need to change is MY situation, and somehow reduce our expenses, by either selling or refinancing.[/quote]
Homey,
Your problem is not your house, nor is it your finances. Your problem is that you have set too high of expectations of yourself. Go back and reread TemeculaGuy’s post, and then read it again, and again, until it manages to sink in. Then do a serious reality check.
From what you say, making 270k a year, mortgage of 62k a year, you should still have plenty of money to relax and enjoy life. Sure 100k is gonna go to taxes, but that’s still 100k left over. If you cut your hours, that will be less, but hey, why not follow TG’s advice and refi to a 30yr?
The more I reread this thread and your posts, I can’t stress to you that I personally think that selling your house would be a mistake. The disruption and transaction costs are much higher than you might think. You’d have to rent for several years if not longer, maybe moving a couple times. Things your kids and wife might not deal with well. And selling your house will solve nothing, because the problem is not your house, or your finances, the problem is that you haven’t found the calmness inside you to relax and enjoy your life. How to do that? I’m not so sure I have a ready answer, but let’s at least identify the real problem.
Just my opinion mind you, but hope you find it helpful.
XBoxBoy
Participant[quote=Homeschool2Boys]Our marriage and our kids are happy, so I think all I need to change is MY situation, and somehow reduce our expenses, by either selling or refinancing.[/quote]
Homey,
Your problem is not your house, nor is it your finances. Your problem is that you have set too high of expectations of yourself. Go back and reread TemeculaGuy’s post, and then read it again, and again, until it manages to sink in. Then do a serious reality check.
From what you say, making 270k a year, mortgage of 62k a year, you should still have plenty of money to relax and enjoy life. Sure 100k is gonna go to taxes, but that’s still 100k left over. If you cut your hours, that will be less, but hey, why not follow TG’s advice and refi to a 30yr?
The more I reread this thread and your posts, I can’t stress to you that I personally think that selling your house would be a mistake. The disruption and transaction costs are much higher than you might think. You’d have to rent for several years if not longer, maybe moving a couple times. Things your kids and wife might not deal with well. And selling your house will solve nothing, because the problem is not your house, or your finances, the problem is that you haven’t found the calmness inside you to relax and enjoy your life. How to do that? I’m not so sure I have a ready answer, but let’s at least identify the real problem.
Just my opinion mind you, but hope you find it helpful.
XBoxBoy
Participant[quote=Homeschool2Boys]Our marriage and our kids are happy, so I think all I need to change is MY situation, and somehow reduce our expenses, by either selling or refinancing.[/quote]
Homey,
Your problem is not your house, nor is it your finances. Your problem is that you have set too high of expectations of yourself. Go back and reread TemeculaGuy’s post, and then read it again, and again, until it manages to sink in. Then do a serious reality check.
From what you say, making 270k a year, mortgage of 62k a year, you should still have plenty of money to relax and enjoy life. Sure 100k is gonna go to taxes, but that’s still 100k left over. If you cut your hours, that will be less, but hey, why not follow TG’s advice and refi to a 30yr?
The more I reread this thread and your posts, I can’t stress to you that I personally think that selling your house would be a mistake. The disruption and transaction costs are much higher than you might think. You’d have to rent for several years if not longer, maybe moving a couple times. Things your kids and wife might not deal with well. And selling your house will solve nothing, because the problem is not your house, or your finances, the problem is that you haven’t found the calmness inside you to relax and enjoy your life. How to do that? I’m not so sure I have a ready answer, but let’s at least identify the real problem.
Just my opinion mind you, but hope you find it helpful.
XBoxBoy
Participant[quote=Homeschool2Boys]Our marriage and our kids are happy, so I think all I need to change is MY situation, and somehow reduce our expenses, by either selling or refinancing.[/quote]
Homey,
Your problem is not your house, nor is it your finances. Your problem is that you have set too high of expectations of yourself. Go back and reread TemeculaGuy’s post, and then read it again, and again, until it manages to sink in. Then do a serious reality check.
From what you say, making 270k a year, mortgage of 62k a year, you should still have plenty of money to relax and enjoy life. Sure 100k is gonna go to taxes, but that’s still 100k left over. If you cut your hours, that will be less, but hey, why not follow TG’s advice and refi to a 30yr?
The more I reread this thread and your posts, I can’t stress to you that I personally think that selling your house would be a mistake. The disruption and transaction costs are much higher than you might think. You’d have to rent for several years if not longer, maybe moving a couple times. Things your kids and wife might not deal with well. And selling your house will solve nothing, because the problem is not your house, or your finances, the problem is that you haven’t found the calmness inside you to relax and enjoy your life. How to do that? I’m not so sure I have a ready answer, but let’s at least identify the real problem.
Just my opinion mind you, but hope you find it helpful.
XBoxBoy
Participant[quote=esmith]We’re paying one of the lowest property taxes in the country, so it’s a wash.[/quote]
So, if you’re an unemployed homeowner, that’s good, this will encourage you to stay. If you’re a highly paid professional who had the sense not to buy in a bubble, it’s bad, and you’ll want to move to another state. Sounds like a good plan to me. (Just sayin’)
XBoxBoy
Participant[quote=esmith]We’re paying one of the lowest property taxes in the country, so it’s a wash.[/quote]
So, if you’re an unemployed homeowner, that’s good, this will encourage you to stay. If you’re a highly paid professional who had the sense not to buy in a bubble, it’s bad, and you’ll want to move to another state. Sounds like a good plan to me. (Just sayin’)
XBoxBoy
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