Im LOSIN MY HOUSE WHINING THREAD!

[LaL 418]

I wax & wane with what we should do with our FL home that has been on the market for 10 months. We have had 4 foreclosures in my small subdivision alone, and most of the comparables are short sales. I might have moments of freak outs that we cannot unload, or don't have equity from FL to buy here in KS, but we aren't in the red, and the mortgage is low. It would be nice and a weight off our shoulders to sell and move on, but we aren't screwed.

[w¡n9Nµ7 §£@¥€r 123]

Woohoo! We have nothing to lose!

........This affects people with actual skin in the game. Most of y'all don't.

What does " skin in the game" mean?.....Serious question.......I know very little about finances and trading and all that-so we go to an IFA.

Having skin in the game means having a stake in the outcome - having something to lose.

Oh ok, Thanks....

Well, I guess Mark and I DO have skin in this game, but I am thinking that we protected it as much as possible....Not so worried here.... We should make out big time when the markets recover.....

Yeah, I'm not sweating my 401ks and other equities. I was planning to continue buying through the next 30 years or so anyway - those plans don't change.

But it does appear likely that any plans to upgrade into a nicer home may be on hold for a while. And I work for a company that is heavily dependent on the Street so who knows what will happen there. Time will tell. I'm not too worried.

[SpiritAlight 1]

I wax & wane with what we should do with our FL home that has been on the market for 10 months. We have had 4 foreclosures in my small subdivision alone, and most of the comparables are short sales. I might have moments of freak outs that we cannot unload, or don't have equity from FL to buy here in KS, but we aren't in the red, and the mortgage is low. It would be nice and a weight off our shoulders to sell and move on, but we aren't screwed.

Tough times.

[tmma 467]

Woohoo! We have nothing to lose!

........This affects people with actual skin in the game. Most of y'all don't.

What does " skin in the game" mean?.....Serious question.......I know very little about finances and trading and all that-so we go to an IFA.

Having skin in the game means having a stake in the outcome - having something to lose.

Oh ok, Thanks....

Well, I guess Mark and I DO have skin in this game, but I am thinking that we protected it as much as possible....Not so worried here.... We should make out big time when the markets recover.....

Yeah, I'm not sweating my 401ks and other equities. I was planning to continue buying through the next 30 years or so anyway - those plans don't change........

Us too!!!

[w¡n9Nµ7 §£@¥€r 123]

It's good being young. I wish this was happening 10 years ago when I was even younger, though

[SpiritAlight 1]

My SIL is trying to buy a house in Chicago.

She already owns a nice condo here and had rented it to friends because she moved for work.

Well she came back a while ago and the bank would not lend her money although she owns already, and works full-time getting paid well.

Nuts!!

She offered to pay cash....and that didn't work out.

So she stopped looking for awhile (a few months) and now she is back on and with another bank, another house and realtor...I believe it might work out now.

It takes so long and it is unreasonable....kinda like USCIS.

Bah!

[doodlebugg 10]

I'm kicking myself for not selling my house a couple of years ago when it was way up there. My plan had been to save the extra for the kids' college tuition.

Now my house is only about $30k over what my mortgage is, the kids' college fund is just pathetic due to the stock market and I don't even want to look at my 401k right now.

That being said, no houses are moving at all right now where I am so we'll just sit tight, save some $$$ for repairs (since homeimprovement loans are out of the question now) and sell as soon as the market picks up, hopefully in the next couple of years. Then I'm going to re-join the world of renting until my kids are out of school and then hopefully relocate to a cheaper state. Someplace with no snow but not brutally hot, either.

[IAMX 3,055]

I know using a search engine is too much of a strain for you.

What the hell does travel have to do with anything on home prices? Your method for determining homes prices consists of you driving around looking for signs at new developments for price ranges?

Well, genius, if you travel, and if you pay attention, you also tend to know what prices are in the vicinity. I guess you don't ever read the local paper which has both classifieds and real estate sections. Instead just make Google searches.

no wonder you don't know what's going on beyond your hovel.

No wonder you keep making asinine statements that further prove your know-nothingness.

And if prices have fallen that much there then my sweetie's stance on "It's too expensive in California!" may juts have to be rescinced.

Yippee!!!

I wouldn't bet a substantial amount of my earnings on what SRVT says. The guy is probably a realtor pushing crappy houses on gullible out-of-staters.

I would bet SRVT knows his local prices a lot more than some guy in a southern state across the country.

It is not difficult whatsoever to find, if big cities aren't your thing, SpiritAlight, to find a suburban home for far less than $500,000 now. Morgan Hill, for instance, is a very nice suburb of San Jose. Has several public transit options (Caltrain, VTA), average sized family homes are in the $400,000 range. This place also has many new parks, and a city near it, Gilroy, also price has gone down. Of course, the reason for this is the market tumbling and many foreclosures. You could got a bit further suburban where houses (like in Hollister or San Juan) used to be in the $600,000 range a few years back, but now is in the $300,000 range.

Wouldn't listen to alien, though, he tends to talk out of his a$$ without knowing anything.

[SpiritAlight 1]

...

It is not difficult whatsoever to find, if big cities aren't your thing, SpiritAlight, to find a suburban home for far less than $500,000 now. Morgan Hill, for instance, is a very nice suburb of San Jose. Has several public transit options (Caltrain, VTA), average sized family homes are in the $400,000 range. This place also has many new parks, and a city near it, Gilroy, also price has gone down. Of course, the reason for this is the market tumbling and many foreclosures. You could got a bit further suburban where houses (like in Hollister or San Juan) used to be in the $600,000 range a few years back, but now is in the $300,000 range.

Wouldn't listen to alien, though, he tends to talk out of his a$$ without knowing anything.

Thanks SRVT.

I am most interested in being where the action is so to speak...

mostly where the artist communities are, in the city, but not where the skyscrapers are...know what I mean?

I am not a suburb kinda person.

Bleh...they are the antithesis of culture!

I like being in a creative community, and (or) in such rural places where I am either having to chop wood for my wood-stove (no one around for miles...mmm quiet), or living on a boat, preferable in a part of the ocean where you can do that year round.

Any recommendations of where to explore for urban, creative, community type living?

We could get a condo, hmmm...it does not need to be a house...preferably rent to start and see how we like it (for 6 months or so).

We are thinking of doing this move in June or so (that is when my partner is looking at leaving his current job), maybe I will move sooner.

Winter is coming...

Edited September 30, 2008 by SpiritAlight

[SpiritAlight 1]

I am listening (again) to NPR.

A woman started crying when the interviewer asked her how she was doing in paying her mortgage.

She said she had been doing alright and when the rate went up 2% (meaning $200/mth) she is fearing that she cannot keep up.

She was saying how she as well as others were not explained about how "tricky" these loans were.

sigh...

9000 homes are foreclosed a day here in the U.S.!!

Wow!

[w¡n9Nµ7 §£@¥€r 123]

She said she had been doing alright and when the rate went up 2% (meaning $200/mth) she is fearing that she cannot keep up.

She was saying how she as well as others were not explained about how "tricky" these loans were.

I am so torn between my contempt for idiots like that who signed notes without understanding them, and my realization that a substantial tightening of credit (which is what will happen if a 'bailout' does not occur) will hurt most Americans. Underlying credit transactions lie at the heart of most of what we do today, from direct deposit to ATM withdrawals.

[IAMX 3,055]

...

It is not difficult whatsoever to find, if big cities aren't your thing, SpiritAlight, to find a suburban home for far less than $500,000 now. Morgan Hill, for instance, is a very nice suburb of San Jose. Has several public transit options (Caltrain, VTA), average sized family homes are in the $400,000 range. This place also has many new parks, and a city near it, Gilroy, also price has gone down. Of course, the reason for this is the market tumbling and many foreclosures. You could got a bit further suburban where houses (like in Hollister or San Juan) used to be in the $600,000 range a few years back, but now is in the $300,000 range.

Wouldn't listen to alien, though, he tends to talk out of his a$$ without knowing anything.

Thanks SRVT.

I am most interested in being where the action is so to speak...

mostly where the artist communities are, in the city, but not where the skyscrapers are...know what I mean?

I am not a suburb kinda person.

Bleh...they are the antithesis of culture!

I like being in a creative community, and (or) in such rural places where I am either having to chop wood for my wood-stove (no one around for miles...mmm quiet), or living on a boat, preferable in a part of the ocean where you can do that year round.

Any recommendations of where to explore for urban, creative, community type living?

We could get a condo, hmmm...it does not need to be a house...preferably rent to start and see how we like it (for 6 months or so).

We are thinking of doing this move in June or so (that is when my partner is looking at leaving his current job), maybe I will move sooner.

Winter is coming...

Well, if you don't like the extra hot weather, I'd look to Santa Cruz (very liberal, very outgoing people there -- great place to be, beautiful scenery, got the beaches and forests around), or maybe, if you want a bit chillier, Half Moon Bay. Santa Cruz is a bit more affordable right now, and if you haven't finished college yet, UCSC is one of the best in the state and country for normal people.

Communities are springing up in the San Jose area, particularly places like Rivermark, which would be more appealing to me in wanting to live in the city with other working class people, lower crime, around more things to do, not too far from the beach (1 hour), not too far from the snow (4 hours), and lots of excitement around like sports bars, entertainment centers, theme parks, museums, zoos, clubs/concert venues, and the list goes on and on.

Lots to do and quite a diversity of people.

Ironically, I was on the phone with Betty (she just called me at work a few mins ago) and telling her about your post, and we both still are 50/50, in some ways leaning a bit more toward Saskatchewan, pending visits of course, especially during the winter.

Plus, I would just kill to get the CBC. Hockey Night in Canada ftw.

Edited September 30, 2008 by SRVT

[Chica Yeyé 41]

I didn't discuss it in the other thread, but holding off until we have saved enough to lower the interest rates and monthly to where we can either pay off the house quickly or have enough extra to enjoy ourselves, likely with kids. But, another big IF, is where. Right now we're 50/50, stay in California, or move to Canada (Saskatchewan has been looking nice, but their financial status matters too).

Uhm, baby, no one from California or Greece for that matter can live in Saskatchewan!!

What are ya, nuts?

I mean that respectfully.

Please visit for a week in the heart of winter and PM me then.

Heat (comfort) is where it's at!

Saskatchewan is where I'm from! There is nothing wrong with Saskatchewan.

WORD

[Gigli2008 70]

She said she had been doing alright and when the rate went up 2% (meaning $200/mth) she is fearing that she cannot keep up.

She was saying how she as well as others were not explained about how "tricky" these loans were.

I am so torn between my contempt for idiots like that who signed notes without understanding them, and my realization that a substantial tightening of credit (which is what will happen if a 'bailout' does not occur) will hurt most Americans. Underlying credit transactions lie at the heart of most of what we do today, from direct deposit to ATM withdrawals.

I agree. I still don't get how people do not pay attention to such details.

I'm one of the ones who played every way I could to go Zero down and got $12,000 in various gifts (towards the mortgage), from the mortgage company, the builder and other companies who recognize or give credit for 1) being a single mother....at the time, 2)Minority status 3) First time home-buyer. All in all, my loan amount was $125K (for a 2182 SqFt single story home) in one of the best School Districts in North Texas (very high in property taxes though). So I paid Nill and my first mortgage payment ofcourse started from the second month after closing. In the 4 years I have had the home, I pay $1,165 per month (@5.25% fixed interest) and the value of my home has gone up ........and stayed at $152K.

Shouting to all North Texans, I don't think we have anything to worry about............yet.

[KiKi 0]

...

It is not difficult whatsoever to find, if big cities aren't your thing, SpiritAlight, to find a suburban home for far less than $500,000 now. Morgan Hill, for instance, is a very nice suburb of San Jose. Has several public transit options (Caltrain, VTA), average sized family homes are in the $400,000 range. This place also has many new parks, and a city near it, Gilroy, also price has gone down. Of course, the reason for this is the market tumbling and many foreclosures. You could got a bit further suburban where houses (like in Hollister or San Juan) used to be in the $600,000 range a few years back, but now is in the $300,000 range.

Wouldn't listen to alien, though, he tends to talk out of his a$$ without knowing anything.

Thanks SRVT.

I am most interested in being where the action is so to speak...

mostly where the artist communities are, in the city, but not where the skyscrapers are...know what I mean?

I am not a suburb kinda person.

Bleh...they are the antithesis of culture!

I like being in a creative community, and (or) in such rural places where I am either having to chop wood for my wood-stove (no one around for miles...mmm quiet), or living on a boat, preferable in a part of the ocean where you can do that year round.

Any recommendations of where to explore for urban, creative, community type living?

We could get a condo, hmmm...it does not need to be a house...preferably rent to start and see how we like it (for 6 months or so).

We are thinking of doing this move in June or so (that is when my partner is looking at leaving his current job), maybe I will move sooner.

Winter is coming...

Sounds like you would like Portland.

I left So-cal 13 years ago and have never regretted it!