Seriously considering moving out of Florida

[CarolineM 0]

I didn't say you said you thought she was wrong

[chri'stina 190]

I have lived here in Florida for about 16 years all together...my home state is Mississippi, I moved to Florida when I was 17 years old. I consider Florida my home now, but I still have this blasted accent, it is not nearly as bad as it was, but you can still tell I am from a southern state even though I have been surrounded by Northerners for 16 years now. Once you get an accent, it is hard to get rid of it..especially if you are born with it. But, you know I really don't mind my accent because it is a part of me and who I am. So, I guess it is just how you look at it. Accents are just accents. I don't see anything wrong with southern accents personally, I think they are charming. Redneck accents are a different story......... there is a big difference, that is for sure. I would never leave Florida now that I have lived here for so long, like I said it is now my home. I think it is the only place that I would ever feel comfortable now.

Stacey

It's good you feel totally at home here.

Too muggy in Florida...

yes!!

Good question Gupt...(racism in quotes)

To show why we think it's a good idea to move to this area...

In 2-3 years we could probably make at least $30K profit on our house because our area still is growing. It has slowed dramatically from last summer, but it's still slowly moving up.

If we put all $30K down on this house, our mortgage would be only $49,900!! Which would be $300-something/ month. And there are jobs in the Birmingham area that pay almost as much as in Tampa, where Sujeet works, and our monthly mortgage payment(which includes tax+insurance) here is $1120/month. Now if the jobs in Birmingham or Huntsville payed half the Tampa pay, we wouldn't think of going there. But that does not seem to be the case. Imagine what we can do with all the extra money and how much we can save for things.

And I think this house is ADORABLE!!! (3 bedroom/2 bath)

...

Florida houses are so blehhh to me. But I guess it's because I grew up here. I want a cozy country looking house.

Prolly wouldn't be 300/mo cos it's based on things that we have no control over what number they'll be at in 3 years' time. Things like interest rates/insurance/taxes....in theory, it's a good thing on paper, but the situation can drastically change a lot in a few years.

Good luck tho guys

True, I know things can change within a couple years easily. If for some reason their house prices jumped like they did in Florida, we'd consider other options or other areas. I'm just hoping their housing prices stay lower. And their property tax currently is dirt cheap and so is the insurance. So we'll adjust plans as time goes by, if need be.

[Fandango 1,440]

Has nowt to do with the price of the house, but the terms which affect what a payment is going to be.

Borrowing 50k - depending on terms - could fluctuate a payment amount easily a few hundred

Yes...interest rates could go up, but the house prices themselves probably won't increase by much, if at all.

Again, I'm not addressing the property values....I knew of ppl years ago in a different state who borrowed $52k and their payment was $700/mo.

they had excellent credit...both were above 800 credit scores, and got an excellent rate for the time. Interest rates vary by the day, so no one knows what 3 years from now will bring. We've had the lowest rates in decades, so to see that sustaining itself over years will be a speculative issue at best.

This couple was in a lower-taxed area as well...but again, millage rates can change. Same goes for homeowner's insurance, which is required with a mtg. So who's to say what 3 years will bring.

I understand your point about house prices, but as I haven't addressed that at all, I am slightly confused by you 'countering' my posts with a factor that I have already said is completely irrelevant to the point I am making.

[w¡n9Nµ7 §£@¥€r 123]

Again, I'm not addressing the property values....I knew of ppl years ago in a different state who borrowed $52k and their payment was $700/mo.

they had excellent credit...both were above 800 credit scores, and got an excellent rate for the time. Interest rates vary by the day, so no one knows what 3 years from now will bring.

What if they had a fixed rate mortgage like most people?

[almaty 19]

in 2-3 years allot can change...

[AnaAndDaniel 0]

in 2-3 years allot can change...

but in 'Bama?

Daniel

:energetic:

[almaty 19]

in 2-3 years allot can change...

but in 'Bama?

Daniel

:energetic:

well the creek can rise and paw got some new roebuckers

[Mirorgate 0]

in 2-3 years allot can change...

but in 'Bama?

Daniel

:energetic:

well the creek can rise and paw got some new roebuckers

and Unclegrandpa is gettin married again to Cousinaunt Nadine

[Fandango 1,440]

Again, I'm not addressing the property values....I knew of ppl years ago in a different state who borrowed $52k and their payment was $700/mo.

they had excellent credit...both were above 800 credit scores, and got an excellent rate for the time. Interest rates vary by the day, so no one knows what 3 years from now will bring.

What if they had a fixed rate mortgage like most people?

it was

[w¡n9Nµ7 §£@¥€r 123]

Again, I'm not addressing the property values....I knew of ppl years ago in a different state who borrowed $52k and their payment was $700/mo.

they had excellent credit...both were above 800 credit scores, and got an excellent rate for the time. Interest rates vary by the day, so no one knows what 3 years from now will bring.

What if they had a fixed rate mortgage like most people?

it was

Ok, then why would interest rates increase if you have a fixed rate? I understand increasing property taxes and increasing insurance. I don't get what you mean by increasing interest rates; a fixed-rate mortgage is supposed to have a fixed rate, isn't it?

[LaL 418]

Ok, then why would interest rates increase if you have a fixed rate? I understand increasing property taxes and increasing insurance. I don't get what you mean by increasing interest rates; a fixed-rate mortgage is supposed to have a fixed rate, isn't it?

i believe what she meant was the fixed rates of today probably wont be the fixed rates of tomorrow.

[w¡n9Nµ7 §£@¥€r 123]

Ok, then why would interest rates increase if you have a fixed rate? I understand increasing property taxes and increasing insurance. I don't get what you mean by increasing interest rates; a fixed-rate mortgage is supposed to have a fixed rate, isn't it?

i believe what she meant was the fixed rates of today probably wont be the fixed rates of tomorrow.

And that matters, why? If I get a fixed rate today I get to keep it on that home for 30 years. If my payments go up it won't be because of increasing rates, but because of other increases in things like prop taxes and insurance.

Am I missing something here?

Edited September 27, 2006 by Gupt

[LaL 418]

Ok, then why would interest rates increase if you have a fixed rate? I understand increasing property taxes and increasing insurance. I don't get what you mean by increasing interest rates; a fixed-rate mortgage is supposed to have a fixed rate, isn't it?

i believe what she meant was the fixed rates of today probably wont be the fixed rates of tomorrow.

And that matters, why? If I get a fixed rate today I get to keep it on that home for 30 years. If my payments go up it won't be because of increasing rates, but because of other increases in things like prop taxes and insurance.

Am I missing something here?

lol no, your not missing anything there, I believe what Lisa is addressing is using a mortgage calculator 3 year ahead off time when you will be purchasing does not give a clear picture at all, many factors are involved and one can only guess as one of the factors what the interest rate could be.

[Fandango 1,440]

Again, I'm not addressing the property values....I knew of ppl years ago in a different state who borrowed $52k and their payment was $700/mo.

they had excellent credit...both were above 800 credit scores, and got an excellent rate for the time. Interest rates vary by the day, so no one knows what 3 years from now will bring.

What if they had a fixed rate mortgage like most people?

it was

Ok, then why would interest rates increase if you have a fixed rate? I understand increasing property taxes and increasing insurance. I don't get what you mean by increasing interest rates; a fixed-rate mortgage is supposed to have a fixed rate, isn't it?

Sorry, looked back at my post & I see where the confusion is....that was two seperate trains of thought.

What I meant was, that was an example of a high rate...and then seperate thought to say that since interests rates change daily, there's no saying what it'll be in 3 years.

This is what happens when I try to chat while working Sorry guys

[w¡n9Nµ7 §£@¥€r 123]

Ok NOW i get it

thanks!