I understand the reason behind it, it was just a bit shocking getting into the market with a 20% conventional loan. Prices in vegas in some areas are being driven up 3 or 4% a month because of the influx of demand and withhold of supply. I believe 40+% of the purchases last month were cash.
Homeowners
- Thread starter Saladus
- Start date
meStevo
I think your wife's a bigfoot gus.
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We were the winner of 29 potential buyers of our house. We put in offers on almost 2-dozen houses, some of them sight unseen other than MLS entries because I had an awesome realtor and we'd been looking for so long that we knew what we wanted. This was in 2009, Vegas also. We lost so many houses because we were a FHA loan that would require xyz inspections and standards, vs cash buyers who would just take it as-is, close faster, etc.
Mom just sold (closed and all) a property she owned 11 days after meeting with a realtor. It's being flipped by a realtor (was a trailer), but damn.
Asshat Brando
Potato del Grande
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Yes demand is low and home builders were slow to realize the market was coming around which is also making it tough for house hunters. The time it takes to bring a product online is at least 18 months unless you are buying land that is already parceled with the lots ready to go.
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They still do down payment loans? Thought those would have went away with the recent troubles.
I think the job is stable(as far as I can gauge short term) and good, with exception of raises. I don't want to buy a house and then be stuck with relatively the same salary 5 years from now. That's the tough part, vetting out stability and raises takes time and I'm not sure I want to keep paying rent in that time.
You are right about Plan B, though. Not sure I'm too concerned about that. I've accepted that I don't like living in big cities, so small city tech markets aren't going to have a lot of job competition.
Cutlery
Kill All the White People
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Same here. AC doubles my bill, then the pool pump doubles that. It's pretty retarded.
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Cutlery
Kill All the White People
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Oh believe me, I am well aware of that fact, and pointed it out to the wife the first year we got the pool cleaned.Pool pass for the entire summer: $100.
However, there are certain things that just aren't worth the argument, and that's one of them.
Haast
Lord Nagafen Raider
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Power bill increase for pool every month during the summer: around $100. F'ing pool. How I long to backfill it.Pool pass for the entire summer: $100.
Cutlery
Kill All the White People
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She did.
Honestly, it's not that great. It doesn't work very well. Underwater you end up losing whatever lube you're using for anything, so you end up out of the pool anyway.
And I just hate the pool because it's lot of extra work and money, and I just don't see the point of sitting around in it. But, it keeps the wife happy, so it stays.
Haast
Lord Nagafen Raider
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Do you (or your family) already use a pool very regularly? If not, chances are you won't use it nearly as much as you imagine. The maintenance is constant and the costs are significant. I'm sure it's a winning deal for those who really use the hell out of it. For me, it's an expensive headache.
Heylel
Trakanon Raider
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I have a pool, which is expensive in the summer but I do enjoy it. I've gotten a lot of use out of it since I bought my house back in '09. I do push for visitors to help subsidize it though, since my friends often like to come over during summer to hang out, drink a couple beers and go swimming. It helps defray the cost of chemicals, though the power bill going up is definitely a pain.
Got a second quote today on a refinance, which is near enough to the previous one that I'm probably going to go with my original lender. His offer still hasn't been beaten. I actually started this whole process in November before getting discouraged. It turned out that even though I closed on my home in April of 09, it wasn't technically endorsed by FHA until June 10. Legislation since then has caused a very significant increase in PMI on FHA loans like mine that were endorsed after May 31, 2009. I missed the cut off by 10 days, through no fault of my own, because the lender and FHA took forever to get my paperwork straight. Right now my PMI is $66/month out of my mortgage payment. After refinancing, that's going to go up to about $166. I'm dropping 1.5% off my current mortgage rate, so in the end I'm still saving money month to month, but not nearly as much as I would. I'm lowering my payment about 10%, when it would be more like 18% if it weren't for my PMI missing the grandfathered cutoff date.
There's at least one small silver lining in that PMI is a tax write off, so a higher portion of my overall payment will be tax deductible. That will hopefully let me keep my refund about the same, while paying less overall. It also means that when I reach 20% LTV, my payment will make a more significant drop. Overall, there aren't many downsides, just a smaller advantage. All because some nameless clerk with Metlife somewhere took their sweet time filing my application.
Got a second quote today on a refinance, which is near enough to the previous one that I'm probably going to go with my original lender. His offer still hasn't been beaten. I actually started this whole process in November before getting discouraged. It turned out that even though I closed on my home in April of 09, it wasn't technically endorsed by FHA until June 10. Legislation since then has caused a very significant increase in PMI on FHA loans like mine that were endorsed after May 31, 2009. I missed the cut off by 10 days, through no fault of my own, because the lender and FHA took forever to get my paperwork straight. Right now my PMI is $66/month out of my mortgage payment. After refinancing, that's going to go up to about $166. I'm dropping 1.5% off my current mortgage rate, so in the end I'm still saving money month to month, but not nearly as much as I would. I'm lowering my payment about 10%, when it would be more like 18% if it weren't for my PMI missing the grandfathered cutoff date.
There's at least one small silver lining in that PMI is a tax write off, so a higher portion of my overall payment will be tax deductible. That will hopefully let me keep my refund about the same, while paying less overall. It also means that when I reach 20% LTV, my payment will make a more significant drop. Overall, there aren't many downsides, just a smaller advantage. All because some nameless clerk with Metlife somewhere took their sweet time filing my application.
Sparko
Silver Knight of the Realm
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- 31
Winter is the time to get a pool if you're going to get one. Business is slow for the pool companys, so chances are you can get a pretty good deal. I've seen pretty nice saltwater pools done here in AZ for under 25k.
Fuck the maintenance of a pool. Fuck that shit in the ear. There's enough shit to do around the house that I don't need to add keeping chlorine levels proper and then cleaning it.