- Jul 29, 2012
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I got 2 FHA loans <3% interest and Gonna be a minute until I can refi out of them cause interest rates might not get back down there for years
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
- Mar 12, 2017
- 236
- 444
You'll never have mortgage insurance on a VA loan.
- Feb 23, 2006
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Right, which is why he'll be good.
- Apr 5, 2012
- 4,051
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The return on investment for your dollars might be worth paying PMI anyways.
That’s why I put 5% down instead of 20%. I figured that if I take the $125,000 i’m not putting down and invest it the return I can get on it outweighs the monthly cost of the PMI. I also have that cash accessible and not tied up into the house.
That’s why I put 5% down instead of 20%. I figured that if I take the $125,000 i’m not putting down and invest it the return I can get on it outweighs the monthly cost of the PMI. I also have that cash accessible and not tied up into the house.
- Oct 28, 2013
- 42,769
- 178,624
- Apr 9, 2017
- 17,026
- 47,239
Damn... bath tub in the kitchen huh? Just make sure the toaster isn't on the counter next to it... especially if you like cats.
- Jun 22, 2018
- 5,267
- 6,482
Squatters rights is some scary ****. People can break a lock, move their stuff in your house and you gotta jump through hoops to get them out unless you're willing to go to jail.
sneakaprince
Supporter
- Apr 29, 2007
- 16,590
- 20,410
Younger me was really ready to go to jail. Older me will prolly just cut power and have somebody take the door off.
- Sep 20, 2007
- 13,236
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I’m rollin in on squatters in da middle of the night with some ski masks on ngl
Play dirty let’s play dirty then
Play dirty let’s play dirty then
- Feb 5, 2013
- 39,431
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my dawg will do it for a louis belt
mplsdunk
Supporter
- May 25, 2004
- 30,367
- 40,981
squatter’s right to a 
in the ***. 
in the ***. 
- Sep 5, 2012
- 383
- 46
When is it gonna be a good time to buy a house. Someone tell me
sneakaprince
Supporter
- Apr 29, 2007
- 16,590
- 20,410
Not now but no telling what interest rates will look like in the future.
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- Apr 5, 2012
- 4,051
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it really hurts me to not have had money 2008 to 2020. Not sure we’ll ever see home price appreciation like that again in California. Buying a home in 2022 and seeing the tea leaves of the next 5 years it’s painful.
sneakaprince
Supporter
- Apr 29, 2007
- 16,590
- 20,410
I got my first crib in 2015, I live in a relatively low cost of living area so starter homes were in abundance at sub 150k pricing.
Seeing how things look now and in conjunction with the interest rates it somewhat scares me. I've been thinking a crash is coming for a full year now but the market keeps on chugging along.
At this point I'm really starting to believe this is the new norm.
- Sep 20, 2007
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Truth be told at this point it’s when you can afford the monthly payment comfortably on something you can stay in for a while.
- Jul 29, 2012
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California appreciation going to keep chugging along. Southern California been on fire for last 10 years and Bay area still competitive market even with these crazy interest rates. I'm looking to buy in a couple years and have kept my eye on the market in the Bay area, most properties are gone within 2 weeks
- Apr 5, 2012
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I’d be truly shocked if the 2021 to 2030 is similar rate of appreciation as 2011 to 2020.
I think in the long run there will be some years of huge jumps though but seems like the next 3-5 years going to be rough. It’ll really depend on if / when a president or political change happens and if interest rates plummet. Will create an all out frenzy for sure and I think prices will sky rocket. TBd though if demand and supply is the same by that point though from a need perspective. I’m just saying a lot of words but just jelly i can’t do what most of my friends did - which was buy a place and then sold it 3 or 4 years later for a $300-500k+ profit.
Lot easier to buy a second place and sit out the bad years once you got that backup funds sitting there
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- Mar 14, 2011
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Just keep going up like gas in cali
- Jul 29, 2012
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Like the graph posted there’ll be peaks and valleys, but even in this high interest rate environment, home inventory is low in California. Going to need to take a breather here as just had a run up. Instead of selling 10% above list price, they’re selling at list for a bit.
I’d be truly shocked if the 2021 to 2030 is similar rate of appreciation as 2011 to 2020.
I think in the long run there will be some years of huge jumps though but seems like the next 3-5 years going to be rough. It’ll really depend on if / when a president or political change happens and if interest rates plummet. Will create an all out frenzy for sure and I think prices will sky rocket. TBd though if demand and supply is the same by that point though from a need perspective. I’m just saying a lot of words but just jelly i can’t do what most of my friends did - which was buy a place and then sold it 3 or 4 years later for a $300-500k+ profit.
Lot easier to buy a second place and sit out the bad years once you got that backup funds sitting there
I’ve sold 2 properties in last 5 years and I’m probably not going to sell anymore. Lose 2%+ to realtor commission, another 1% closing costs, and profit is taxed at your income rate (probably 24%+ tax rate for most). Selling overrated. Got 200k profit with inflation at its highest, and buying another property at +5% interest rate with housing prices higher? Back to square one
- Nov 5, 2012
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Speaking of 2020 and Southern California– salute to all y’all who didn’t have no handouts along the way and made it on your own. I respect whatever it took for you to get here especially the ones who did it single
I know the sacrifices
Can’t believe it’s been 3 years already, beyond thankful everything fell into place how it did
I know the sacrifices
Can’t believe it’s been 3 years already, beyond thankful everything fell into place how it did
- Nov 5, 2012
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Damb. Can you break down that last part of the tax? I know the realtor and closing costs and assumed 10% or so total off the top but never heard of income rate?
That’s rough, at that point it’s like why even sell especially if the interest rates are how they are to buy again
- Jul 29, 2012
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When you sell state and federal want their piece of the pie. In California they’re looking for 1-13% (income tax rate which varies based on state). Then federal tax you at this rate for long term capital gains assuming you wait at least a year to sell, otherwise you’ll get short terms capital gains (which is less favorable rates):
Single Filers long term capital gains:
0%-$0 to $41,675
15%-$41,676 to $459,750
20%- $459,751 or more
There’s a great capital gains exclusion (no federal tax) if you meet certain criteria: selling your primary residence, lived in it at least 2 years, haven’t claim the exclusion within last 2 years
- Nov 5, 2012
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Yup on that very last part, my agent schooled me on that a year back
Appreciate the info
- Aug 31, 2012
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Saw this while I was browsing. This is actually a pretty decent deal for Long Island. ~2 acres in this area is unheard of and it looks turnkey:
Wish I could afford this.
Wish I could afford this.
