Home Improvement

Well, kinda... Bought this in Queen Creek AZ. It is really nice.

 

Freaking sweet!!! Love the pool...truck on front of house is AWESOME!!!!

 

Nice one!

 

It has been a difficult decision, and I will always be in and out of Colorado, but at this point in my life it is just about being happy. I love the desert, got up at four and climbed this.



But honestly, its dollars to donuts, I would of paid double+ in Colorado, and I don't have enough $ to go build my fortress in the mountains, not yet. Plus I live right by SDHQ. Been a great day and now I'm done and drinking my favorite beer!

 

Bushhhhhhhhhhhhhhhhhhhhhhhhhh

 

Thanks!

 

We are a lot alike, I could just buy a nice TT and roam where I please, but wife kids all my junk. I feel terrible, but I am able to do what I do cause I'm not foolish with money, and every available option in Colorado was foolish at the least. Tough market here as well, 5 days on the market had to offer more than asking to get it. I don't get it, I've bought tons of properties and never paid asking, strange times, I worry...

 

It's coming, a lot of people are going to be really disappointed when they find out what there house/property is really worth.

 

Another pic.

 

Sucks to say but I'm "hoping" for another crash. That's the only way I'll be able to buy a house where I live. My wife and I have good jobs, but around a million dollars for a single family/1500sq foot house is outrageous. We need this bubble to pop... between the current cost to rent and home prices we'll never save up 100k+ for a down payment.

 

Beautiful house man. Congrats

 

Believe me I know. If that's the case we're outta here. Not gonna be renting our whole lives and not gonna settle living in some dumpy city just so we can afford a house.

 

What is MMJ? I am a real estate appraiser in Texas and where I live is experiencing same kind of growth it is just exploding in my little town. No a lot of older homes here some almost everything is new spec and you can build a custom for what they want for spec houses here. God blessed us last year and we found bought a preforecluser for $25 a square foot under value. Needed work and we have done it and picked up a good bit of equity.

 

Heading back to CO.

This is my in-laws house in Scottsdale AZ, I have no idea what the value is, but I do know the value holds steady and never jumped way up in a year or two. It is absolutely beautiful.

 

tell me about it. We just bought a house not too far from you, havent moved in yet and the house already appraised 50K more...
I'm done renting so we jumped on the house buy this year. With interest rates still low and about to increase it was time to do it or else we would never own.

 

@Vizsla nice compound !

 

I can relate to your situation. Santa Cruz isn't exactly the most affordable. The last crash caught me with my pants down and I lost BIG. A couple years ago, after having to go back to renting for 5 yrs, my wife and I bought our latest house with a HUD rehabilitation loan. We put very little down and purchased a real piece of sh**. It was still over 400k, only .5 acre and not "in town" but about 10 min. from town. This was a great way to get our feet back in the door, so to speak. Our monthly payment is less than what we were paying for rent, though construction costs still make it a lot more than the rent we were paying. Luckily I can swing a hammer and the house is almost completely rebuilt. Now that I'm almost done building, it will be cheaper than renting and we've accrued a sh** ton of equity as this place is worth about double what we paid for it initially. So, you might want to talk with a mortgage broker to see if this is a possibility for you. I sincerely hope this can help you out. Fu** the 1%!

 

I'm fine with interest rates up if home prices fall to where they were 10yrs ago. I'm giving this Orange County/LA bubble 2-3 more years while we save, if prices fall in that time we'll just put a huge down payment and do like a 15yr fixed. Even if rates are say 6-8% if we buy a house that's 200-300k cheaper we'll still come out on top than getting a place now and only putting 40-50k down for some 30-40yr fixed with a low rate.

Plus relatively speaking where we live now i have nothing to complain about. Large apartment, 30 sec walk and on the sand, it just gets old not having a yard/garage etc. We could be much worse off.

 

honestly I have been living in LA/OC for 14 years and it always been going up. CA is a market on its own. I wish it would be cheap and I'm still waiting for that market crash so I could scoop a cheap house but I dont think it will ever happen.

Also you can always put more money every month on your mortgage, it goes directly to your principle. On a 30 years fixed you are saving yourself close to 100K if you put an extra $300 a month. Also you are getting somewhat of tax break on interest and home expenses.

 

Thread jacked sorry op.

It is a crazy market for sure but it's definitely in a bubble, prices will go down, just a matter of how much and when. If I had the cash for 20% down now I'd buy in a heartbeat. Problem is I'm not buying an 800k+ little starter home near Seal Beach where we live without at LEAST a 100k to put down. At the end of a loan that big that's like 600-700k in interest on top of having a huge monthly mortgage. I'd rather rent and invest that money (even conservatively), which would be more sound financially in the long run. In the end the real smart move is to just move to another coastal area (gotta have surf) out of state which is what I want and buy a home that actually is an investment, just hard to leave mine and my wife's family behind when they help with childcare so much.

 

Crazy - I got that sized house for $140k here in NE Illinois.

 

I hear you but prices will never go down by the beach. 12 years ago I almost bought a condo in Santa Monica: 2 bedrooms for like 550K ish. At the time, I was like damn that's expensive for a tiny 2 beds. Now, the same one, is $1.1mil.....man I should have bought it !

yeah for sure you want 20 to 25% down if you can. Keep the mortgage to a decent amount per month = more $$ for the Tundra