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You lunatics out on the West Coast are just getting pounded raw at those prices.
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Oct 1, 2016 22:03
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I live in an area with pretty low labor costs and a pretty good regional hardware chain. Is putting a steel roof on our house going to add value?
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Oct 17, 2016 01:04
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Alereon posted:I would note that there are different kinds of metal roofs. Cheap thin exposed-fastener metal roofing tends to signal crap housing and will be a liability when the fasteners start to leak. A well-installed standing-seam roof using thicker steel panels will last the lifetime of the building and seems to be accepted as a signal of quality. I think you should do it if it makes sense from a total cost of ownership and quality of life (indoor temperatures) perspective, not just because you want to increase your home's value. The roof on the building currently was asphault shingles installed at construction in 2005. I don't think we're due for a new roof yet, and I'm sure there are some other hidden expenses we're going to encounter before then. I guess I'll just wait and put it on the house we build when we get sick of this one and decide to move on. The roof in question was going to be a professionally installed standing-seam roof with the G100 coating. I think they look very sharp, and they're supposed to last 50 years. Thanks for the insight.
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Oct 17, 2016 16:29
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Jealous Cow posted:Update on cheap house for mom: Congratulations on the house purchase, hope it works out ok!
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Nov 4, 2016 23:13
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KirbyJ posted:Is this also the thread to talk about selling a house? I'm considering selling in a timeframe between ASAP and next spring and while I have a general gameplan - try to move out to a short term lease place and repair the place before I put it on the market and hope my savings last long enough for me to sell/get a job - I might have questions because this is the first time I've done this and I don't really have anybody who I can talk to about this, and I'd rather not get taken for a ride out of ignorance. This sounds like a lot of moving parts. That isn't a condemnation that it won't work, but the only way I've seen this kind of plan executed is if you can really clearly draw a line between every dollar you have, every day between you and the sale and every thing that needs to be done. Without this level of planning and accountability, it sounds like a recipe for financial disaster. and speaking of financial disaster congratulations Alereon on the purchase of your new home!
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Nov 15, 2016 14:55
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Yeah we didn't unfortunately, and we didn't have the equity at the time to refinance prior to this point. However, if we stretch I think we will be able to pay off our mortgage within the 5 years our ARM is guaranteed. Is this the smartest way to do this or should we suck it up and refinance into a 15? We picked the 5/1 because we are pretty sure we'll be moving up within the half decade but I don't know what the smartest way to save for this decision is versus putting money in the house for equity.
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Dec 14, 2016 20:57
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Glass of Milk posted:What to do when a house is vastly overpriced? It's an estate sale, but the price is...$200k or so over what it's worth. Interior is all original from when it was built a in the early 70s and the deck needs to be replaced. With mortgage rates going up and (it now being winter), there's a chance the market has cooled locally, but it depends what part of the country you live. The sellers are going to have an absolutely outrageous opinion of what their house is actually worth. How long has it been on the market?
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Dec 23, 2016 13:30
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That sounds an awful lot like the "gently caress you" price to me.
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Dec 23, 2016 19:24
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Can I get my insurance through USAA just by working at the VA?
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Jan 9, 2017 22:44
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This is the post I've always wanted to read.
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Feb 6, 2017 19:37
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Real estate agents are, largely, predictable, childish scum.
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Feb 14, 2017 21:12
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Bozart posted:The downside of banks is that they are, uh, idiots. Yeah, and they have an incentive to get this money loaned to you, with ultimately pretty minimal downside that they're going to end up owning the property.
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Feb 15, 2017 14:02
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minivanmegafun posted:If you search yelp reviews (particularly the Not Recommended area), you'll find them. This a review for my inspector, who was fantastic: It's the inspector we've been looking for!
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Feb 15, 2017 15:53
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We're currently kind of at a crossroads about that idea ourselves. We bought a house with 0% down, sparing ourselves PMI because of a special "physician loan" program 20% second mortgage, but the first mortgage is a 5/1 and the second mortgage is a 5 year interest only with a balloon payment. Fortunately, we have sufficient cash flow to pay off both mortgages in 3.5 years after we've maxed our tax advantaged retirement space and paid down non-forgivable loans. My question is... should we? On the one hand, I know the float on the ARM could prove really costly but on the other, I'm not sure I want to stay in the house longer than six or seven years. So is paying to refinance to a 15 or a 30 fixed once we've paid off the "second" mortgage worth it? Should we pay off the house, keep it, hire a property management company and take the cash flow from renting it? It's not a very strong rental market, unfortunately, chiefly because of a glut of new construction and cheap mortgages, but that might change in 5 years, when we could be renting out a paid-off house.
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Feb 20, 2017 15:13
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Pryor on Fire posted:You were not "spared" anything, your mortgage is not special or better because of your job, that's irrelevant. You just got taken advantage of and are stuck in a lovely arm mortgage like everyone else stuck in a lovely arm mortgage. Just so we're all on the same page as far as what is reality is. Plainly untrue, but thanks for your insight and addressing literally zero of the questions I posed.
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Feb 20, 2017 17:44
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H110Hawk posted:I would nuke the balloon loan asap unless you have a lump sum sitting there in a CD or something to cover that call. You can re-fi for around $2500 all in, less if you pay exactly $0 for points. Cost of capital goes down in the future, but maybe look at it as though one of you might take a hit to your job for unknown reasons, where would you want to be? (As I recall you are two doctors married? Trump outlaws orthopedic surgeons(I don't know your specialty), medicare for all tanks your income, your spouse decides staying at home with the kids is better, whatever.) Yeah our plan is to pay the balloon in the next 8-12 months. If either of us got fired we would still comfortably cover our mortgage and that would tip us toward refinancing I think. You don't really need to know our specialties except to say we are about as protected from market forces in healthcare as two human beings can be. I like the sound of the second paragraph here, but sort of dislike the idea in the third paragraph. I guess my question was a little vague, I know it's not good to treat your house like a big wooden savings account but - short of getting geared down by having it paid in full, I don't see a lot of opportunities outside our tax advantaged space I would rather put money than home prices in our market, and paying off our mortgage gives us a better margin on that equity, right?
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Feb 20, 2017 17:50
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QuarkJets posted:tl;dr I think you should pay down the interest-only loan first and then the ARM as soon as you are able, ARMs suck and interest-only loans especially suck. If you don't want to do that then definitely refinance to a traditional note once it looks like you have >20% equity; refinancing costs money, but leaves you more liquid, but it's not clear whether or not this is an advantage in your situation I agree with the first bit, I just don't know what I would do with the "added liquidity." We max our tax advantaged space every year already, but I guess I could just refi onto a 15 year fixed.
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Feb 21, 2017 14:47
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Thoguh posted:Welp, the clothes washer died today. Guess I get to find out if the Home Warranty the sellers included is a scam or not. Warning, there are versions of the home warranty that don't include washer and dryer because they die so readily.
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Feb 21, 2017 14:47
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baquerd posted:Just a regular taxable brokerage. If you want to retire early or in style, you will need more than just tax advantaged space, unless you mean maxing the full 53?k space for two. Not early, but in style would be nice. And our advantaged space is 106 plus an additional 36 in a 457. I guess taxable brokerage is fine but it really irks me to be paying 45% on the money I put in the brokerage and then 15% on the money I take out of the brokerage. What a goddamn racket.
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Feb 21, 2017 15:31
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H110Hawk posted:You only pay hilariously low long term cap gains on profits above your basis as you realize them. Give me more tax advantaged space daggum it!
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Feb 21, 2017 17:09
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The complaint isn't really that I'm taking CG on the gains (although yeah I do hate tax, which is weird because I'm a liberal but you raise a really fair point), it's really whether (anticipated future gains - CG) > (cost of mortgage + refinancing). Obviously it is, but it's just taking some time to settle myself to that perspective.
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Feb 22, 2017 19:47
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Bozart posted:Just wait until he figures out that in private practice partners can get paid in such a way that they only pay capital gains haha Believe me when I tell you I have absolutely no desire for that job or any of the problems that accompany it.
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Feb 22, 2017 22:21
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QuarkJets posted:Well from your posts so far I'm assuming you're sinking all of your excess income into house payments + a checking account or something? Regardless of whether you refinance or not, you should put some of that revenue into a brokerage account because it's silly to save all of your money in checking/savings accounts. It's better to be taxed on more money than on less Yeah, we are early enough in our process that we were still knocking off bad debts until our taxes cleared this year and now are faced with the decision about whether to sink excess income into house payments or - presumably our best and other option - a brokerage account. Our emergency fund, which earns us > 2%, has a "cap" for the amount we can earn that much interest on so we're looking to very quickly find that next best thing to do. I guess it'll be Vanguard, then. We have such substantial exposure to VINIX in our retirement funds already that I don't know what 'next' asset class to invest, and having read the Four Pillars, I'm not really certain about any asset class except stock for the long run, so I guess I'll need to do more reading.
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Feb 22, 2017 22:24
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Just leave California. Speaking bluntly, you don't make enough money to do all that poo poo you want and get a 600k house (responsibly) on your 90k salary. You'd have literally no problem pulling this off in the Midwest.
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Feb 23, 2017 17:25
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HEY NONG MAN posted:Wtf does BWM mean It's a brand of German luxury cars and motorcycles?
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Feb 23, 2017 17:46
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mattfl posted:Are they super huge celebrities there? They're super huge celebrities EVERYWHERE including the coasts but in Middle America it's something even more devout, yes. I can't imagine what it's like in actual Waco.
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Feb 24, 2017 16:34
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How much should I anticipate paying for my refinance?
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Feb 28, 2017 16:47
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Large Hardon Collider posted:Well, both lenders I talked to actually will lock in the rate for an eighth over today's rate. So 3.5% instead of 3.375%. That's less of a jump than I expected, so I will lock for peace of mind. Not bad, nice work.
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Mar 9, 2017 22:35
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OTOH, if they're sustainably built, density as a goal is fine to me. Do I wish these spaces were more charming and eclectic? Sure, but that's not really reasonable with brand new construction. If they're efficient and proximal to things like transit and not utterly wasteful, this kind of SFH construction seems preferable to the "classic" detached house, car-as-king, low density suburban sprawl we see so much.
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Mar 14, 2017 18:20
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5 RING SHRIMP posted:Those are outright hideous Yeah so? They're like high capacity frat-houses for aging Snake People.
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Mar 14, 2017 19:54
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Sundae posted:Would it kill them to use a color, maybe? Brown is a color! Look how nicely it contrasts with the gray, taupe, slate, earth, clay and asphalt colors already present! It's Denver, not Bermuda or San Francisco.
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Mar 14, 2017 20:35
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Thoguh posted:A bunch of new development around here in flyover country is duplexes and fourplexes and I don't understand why. Land is plentiful and cheap so for like 20% more you could get a single family home and not have to share a wall with anybody. Duplex condos are certainly super popular in Iowa, I think because a lot of people see it as an incremental upgrade to renting and that 20% is what stops them from doing so, so they get their starter condo and in 3 years go to upgrade.
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Mar 14, 2017 20:43
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QuarkJets posted:You seem strangely defensive of these monstrosities, did you personally build them or something? No, I just think they are light years better than McMansions, so I'm willing to overlook a lot of the warts. I'm sure they're really gorgeous on the inside, too, because it turns out it's a lot more important to your quality of life to enjoy the inside of your home than the outside. It's kind of debatable to me whether private homes should be subject to scrutiny as works of public architecture. Like, who cares? It can be massively utilitarian if it wants, it's not like the face of some corporation or public office.
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Mar 15, 2017 15:08
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God I'm glad I don't have to live in the West.
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Mar 15, 2017 16:20
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I've been thinking about these houses all night and they've really grown on me.
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Mar 15, 2017 16:53
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Mutar posted:So how long after signing a PA does it take for the slight nausea to go away? The second you have your first major homeowner catastrophe you'll wish for that nausea back.
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Mar 27, 2017 22:56
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I explored this thread, which has been around since the throes of the great recession, for some insight into how people approach home prices. You can get insight into various long-term posters perspectives by seeing what they were advocating when the market was near bottom. Some of us are always more conservative than others, but there was a surprising amount of optimism around pages 65-85 when prices were at historic lows relative to their pre-crisis valuations. It was an interesting look backward.
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Apr 2, 2017 13:21
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Nobody has been a total Polyanna the entire time, in '09 after the crisis there was a lot of "wait, wait, prices still are correcting," and although some people bought (they had to for whatever reason), the sentiment actually seemed to brighten when prices had really corrected downwards and were nearing the bottom. It's nice to have hindsight, but it does seem to be a pretty savvy group of people making suggestions in here. #macro
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Apr 2, 2017 16:43
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ElGroucho posted:I don't know how the gently caress they plan on paying for anything. I mean not to be rude but you can't really know what their books look like. Even among my best friends (very open about matters of finance) the exact size and scope of peoples' wealth and priorities aren't totally clear to me.
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Apr 4, 2017 19:53
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moana posted:Yes, and I did that for my last house - paid cash and immediately refinanced for as much as I could. It's a great leveraged hedge against inflation and if you itemize deductions, the interest is even cheaper. I get that emotionally people don't like debt, but w/e. I also had car payments for three years back when they were doing a 0% rate. Yes, please, give me millions and millions of low interest debt! The rate on "millions" isn't as good as the rate on "couple of hundreds of thousands."  Also, while I share your enthusiasm, with a car it's a little different because the underlying asset has a depreciation of negative whatever enormous percent for a new car, compared with buying a cheaper used car in cash.
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Apr 5, 2017 03:27
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