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03-15-2020, 08:39 PM | #4096 | |
MVP
Join Date: Oct 2017
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Quote:
I'm doing a 0% down loan. My hesitation in waiting is the way the market is moving. The house we are renting has gone up 120k in 3 years. |
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Posts: 7,333
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03-15-2020, 08:45 PM | #4097 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
If you do a $0 down loan and your house loses $5,000 of value in 3 months that is how foreclosures happen. That’s what happened in 2008 |
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Posts: 56,942
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03-15-2020, 08:48 PM | #4098 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Posts: 45,673
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03-15-2020, 08:50 PM | #4099 |
MVP
Join Date: Oct 2017
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Posts: 7,333
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03-15-2020, 08:58 PM | #4100 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
I find it interesting that people have such different preferences on homes, by the way. I live in a 100+ year old house, and my wife and I love it. It's got nice features and there are no surprises since it's survived for 100+ years. But I know other people who strongly prefer new construction and wouldn't even consider a house like ours. Last edited by Rain Man; 03-15-2020 at 09:08 PM.. |
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Posts: 141,704
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03-15-2020, 09:05 PM | #4101 | |
MVP
Join Date: Oct 2017
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Quote:
The market in my area is what it troubling me. The prices keep going up and I have some worry that I will get priced out of the market. If I found a resale I like I would not hesitate to buy I am more curious what your thoughts were on the current economic situation and its effect on home buying and building. Certainly low rates encourage buying, but people may be feeling economically insecure. |
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Posts: 7,333
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03-15-2020, 09:12 PM | #4102 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
There's a house a few blocks away from mine that's intriguing, and I think it's underpriced. It's also got a guest house, which is the really intriguing part, because I could legitimately make it two rentals. It's too expensive for a cash purchase, which I'd prefer, but it's tempting nonetheless. It's been on the market for a while, so I'm curious if I could throw a lowball offer out there. |
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Posts: 141,704
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03-15-2020, 09:15 PM | #4103 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Also, I've preached this before, but if your market has any developments or zoning that allows mother-in-law apartments in new construction, or if you can buy an existing home with a mother-in-law apartment, jump on one of those. Having an onsite apartment means you'll always have a good tenant (bad ones won't want to be next to you), and it gives you an income stream that goes up each year while the cost of the mortgage stays the same. I've got one, and it prints money for me with very little work or hassle.
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Posts: 141,704
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03-15-2020, 09:15 PM | #4104 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
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Posts: 56,942
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03-15-2020, 09:28 PM | #4105 | |
MVP
Join Date: Oct 2017
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Quote:
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Posts: 7,333
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03-15-2020, 09:30 PM | #4106 | |
MVP
Join Date: Oct 2017
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Quote:
What options would they have if I was making payments? What does jumpy mean? I'm a first-time home buyer and working on paying down educational loans, and would rather not put a significant amount down Last edited by SupDock; 03-15-2020 at 09:36 PM.. |
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Posts: 7,333
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03-15-2020, 09:46 PM | #4107 |
Mahomes or GTFO
Join Date: Feb 2012
Location: KC
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Pro tip: buy inverse ETFs on Friday, sell them on Monday at open.
The markets tank on bad news, which is constantly building up over the weekend, every weekend. (SH, DWT, etc.) I feel dirty profiting on the world’s sadness, but it’s easier than short selling and I’ll take whatever I can get right now. |
Posts: 13,201
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03-15-2020, 09:49 PM | #4108 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
What's an inverse ETF? |
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Posts: 141,704
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03-15-2020, 09:52 PM | #4109 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Posts: 45,673
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03-16-2020, 04:09 AM | #4110 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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If I tried to explain what a ****ing disaster today was at Amazon with all the cancelled orders due to inability of sites to deliver on time and a complete mess for getting things ready, you wouldn't believe a company this size could be this ****ing backwards.
They could be selling 2-3 times more across most major markets. |
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