tag:blogger.com,1999:blog-8028421806345240705.post5466948086764986377..comments2024-03-29T02:42:22.177-04:00Comments on Riding with Rickey: House Hunt... The Search Begins.Unknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-8028421806345240705.post-25585408009877051142009-08-25T15:55:44.642-04:002009-08-25T15:55:44.642-04:00Ricky,
Being a math geek, you can also comp to re...Ricky,<br /><br />Being a math geek, you can also comp to rents in the same area where you are looking to move. The wifey and I just recently moved into a gorgeous 3br apt in Downtown Jersey City which even in this depressed real estate market would still be listed for 500k. We rented it for $1450. It would take us 28.74 yrs of renting to just reach the principle balance and 50.9 yrs to reach the cost of principle and interest costs over 30 yrs. Just not worth it. I wouldn't do it if I were you.<br /><br />If you still insist on doing it, listen to these guys, but ignore the nonsense about the $8k, it's $8k...SeriouslySassdawg.https://www.blogger.com/profile/00813276742493198160noreply@blogger.comtag:blogger.com,1999:blog-8028421806345240705.post-30671379581330232282009-08-13T10:32:02.882-04:002009-08-13T10:32:02.882-04:00"And don’t be embarrassed to offer 20-25% les..."And don’t be embarrassed to offer 20-25% less than the listing price (fuck ‘em if they can’t take a joke.)"<br /><br />My current house was on the market for about 8 months. In that time, the sellers were forced to replace the blue shag carpet and the roof to sell. Plus they kept dropping the price. In the end I offered and even lower price based on what I felt I could pay and what I thought the house was worth to me. My realtor said don't bother going that low. I did it anyway. <br /><br />They ended up taking my offer.Bobhttps://www.blogger.com/profile/12669616484991718478noreply@blogger.comtag:blogger.com,1999:blog-8028421806345240705.post-18172963953749138762009-08-12T15:27:10.671-04:002009-08-12T15:27:10.671-04:00Rickey may need to look a little north of Westches...Rickey may need to look a little north of Westchester County or (God forbid) across the Tappan Zee for greater affordability. I bought houses in ’81, ’85, ’89, and ’02 and I don’t believe in any of those years the mortgage rates were as low as today—so you have a lot going for you. If you have a place with structural integrity, kitchens, baths and floors can be done later when you have a little money saved.<br />Roof is important, but take a good look at the plumbing and especially the heating system.<br />Don’t be in a hurry. And don’t be embarrassed to offer 20-25% less than the listing price (fuck ‘em if they can’t take a joke.) Interest rates should remain attractive and if we get another wave of defaults, there could be some more downside in house prices. There is little to be lost in buying after prices start to rise.wftanoreply@blogger.comtag:blogger.com,1999:blog-8028421806345240705.post-16858967495055555542009-08-12T12:13:55.588-04:002009-08-12T12:13:55.588-04:00And if you have to turn up the TV so loud you coul...And if you have to turn up the TV so loud you could wake the dead, be sure you don't live near a cemetery. Just saying.Georgehttps://www.blogger.com/profile/09229058328541626829noreply@blogger.comtag:blogger.com,1999:blog-8028421806345240705.post-35705003093631677192009-08-11T16:49:46.355-04:002009-08-11T16:49:46.355-04:00Ask when the roof was last shingled. Ask how many...Ask when the roof was last shingled. Ask how many times its been shingled-over. Start saving DAY 1 in a "new roof" fund. Found out the hard way that a total roof replacement can be more than $10,000, and that "we can worry about it in five years" goes quicker than you think. Next thing you know...5 years is up and you have a roof that needs an expensive facelift.<br /><br />Also, and this seems trivial, stand in the room in which you will watch tv, and have your spouse flush toilets, run showers, turn on the outside spigot, etc. In our old "1st house," if Mrs. Smitty took a shower upstairs or the heater kicked on, I had to turn the tv up so loud it could wake the dead.Noahhttps://www.blogger.com/profile/14345059376742159966noreply@blogger.comtag:blogger.com,1999:blog-8028421806345240705.post-21047682150684925522009-08-10T23:14:35.452-04:002009-08-10T23:14:35.452-04:00One more thing...
Don't be one of those dumbas...One more thing...<br />Don't be one of those dumbasses that moves an hour away from work to save $4k in taxes and then burns $5k in gas going back and forth. Isn't 10 hours per week of your life spent driving worth something too?Bobhttps://www.blogger.com/profile/12669616484991718478noreply@blogger.comtag:blogger.com,1999:blog-8028421806345240705.post-90455569558616244692009-08-10T23:10:07.445-04:002009-08-10T23:10:07.445-04:00I am now in my third house in 13 years. A few thi...I am now in my third house in 13 years. A few things I have learned:<br /><br />-Do NOT use the inspector recommended by your realtor. They may be just a yes man to get you to close the deal. Learned that one the hard way.<br /><br />-Look at homes owned by old people. The house may have that old person smell and pink shag carpet, but it may also be well maintained. If it has four square walls and a good foundation, the uglier, the better.<br /><br />-Keep in mind the first time homeowners tax credit of around $8k.<br /><br />-Try not to buy the starter home. Moving sucks.<br /><br />-Realtors don’t know everything. They are often house snobs.<br /><br />-“Pottery barn houses” may be pretty, but I will bet you $20 bucks that you replace it with the ugly, yet practical family home that you scoff at today.<br /><br />-Wish I were buying this year, it is a buyers market.Bobhttps://www.blogger.com/profile/12669616484991718478noreply@blogger.com