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  1. #9826
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    Oct 2003
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    Quote Originally Posted by duffski View Post
    no brainer??? more like total knee jerk.
    if you really think you will be able to stay in idaho i would sell that place in colorado, you will never get a better price for it.
    i'll just leave this here
    Attachment 337657
    And as vultures like Kevo snap up homes from distressed mortgage holders, home values will continue to increase, until we start publicly beheading the rich.

  2. #9827
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    Apr 2006
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    Quote Originally Posted by glademaster View Post
    And as vultures like Kevo snap up homes from distressed mortgage holders, home values will continue to increase, until we start publicly beheading the rich.
    Yep, I'm a total vulture for buying a house for $180K more than the previous owner paid back in 2017.

    Interesting chart, Duffski. Thanks for posting.

  3. #9828
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    Quote Originally Posted by Kevo View Post
    Yep, I'm a total vulture for buying a house for $180K more than the previous owner paid back in 2017.

    Interesting chart, Duffski. Thanks for posting.
    Without knowing the source of the chart....are these "real" delinquencies or does it also include those who applied for and/or are included in the federal forbearance plan because of Covid?

  4. #9829
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    Sep 2006
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    That's a sobering chart. Too early for a drink?
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  5. #9830
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    Oct 2012
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    10,525
    Quote Originally Posted by glademaster View Post
    And as vultures like Kevo snap up homes from distressed mortgage holders, home values will continue to increase, until we start publicly beheading the rich.
    Is two homes the new baseline for rich?

  6. #9831
    Join Date
    Mar 2008
    Posts
    189
    chart came from an article on seekingalpha. i believe the deliquency stats include the forebearances as those were required to be counted as delinquencies, which they are. now what percentage of those mortgages would have actually been kept current had the forebearance not been allowed is up for debate but i think the writing is on the wall, lots of people are going to lose their houses once the can stops getting kicked down the road.

  7. #9832
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    Mar 2006
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    Quote Originally Posted by duffski View Post
    chart came from an article on seekingalpha. i believe the deliquency stats include the forebearances as those were required to be counted as delinquencies, which they are. now what percentage of those mortgages would have actually been kept current had the forebearance not been allowed is up for debate but i think the writing is on the wall, lots of people are going to lose their houses once the can stops getting kicked down the road.
    Sure, but I have a hard time analyzing past data with the current data then. Will be more apples to apples once the forbearance ends.

  8. #9833
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    Mar 2008
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    you can read more about the delinquency stats on the mortgage bankers association website here: https://www.mba.org/2020-press-relea...uarter-of-2020

  9. #9834
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    Aug 2006
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    Quote Originally Posted by Timberridge View Post
    ^Have you given a thought to moving to Walla Walla?
    zing
    bumps are for poor people

  10. #9835
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    Aug 2016
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    Quote Originally Posted by duffski View Post
    you can read more about the delinquency stats on the mortgage bankers association website here: https://www.mba.org/2020-press-relea...uarter-of-2020
    Regionalized data is what matters. National aggregate? WGAF. Important piece
    The five states with the largest quarterly increases in their overall delinquency rate were: New Jersey (628 basis points), Nevada (600 basis points), New York (575 basis points), Florida (569 basis points), and Hawaii (525 basis points).
    cuz the MAGA troll is lazy
    Note: An estimated 4.2 million homeowners were on forbearance plans as of June 28. For the purposes of this survey, MBA asks servicers to report the loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage.

  11. #9836
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    Mar 2006
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    Quote Originally Posted by duffski View Post
    you can read more about the delinquency stats on the mortgage bankers association website here: https://www.mba.org/2020-press-relea...uarter-of-2020
    Thanks for the source.

  12. #9837
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    Sep 2006
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    Quote Originally Posted by Deebased View Post
    Is two homes the new baseline for rich?
    Well, if one home is in Aspen or JH, maybe Telluride or DV? And the other is in some posh zip code in a big city, then that could easily define rich. Location, location, location!
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  13. #9838
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    Apr 2006
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    Wasatch
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    I decided I did not want to hassle with rent and sold. Bird in the hand and all. Now I have a friend doing pretty well on the rent places plan I think he’s up to six. It’s worth what someone is willing to pay.


    Sent from my iPhone using TGR Forums
    I need to go to Utah.
    Utah?
    Yeah, Utah. It's wedged in between Wyoming and Nevada. You've seen pictures of it, right?

    So after 15 years we finally made it to Utah.....


    Thanks BCSAR and POWMOW Ski Patrol for rescues

    8, 17, 13, 18, 16, 18, 20, 19, 16, 24, 32, 35

    2021/2022 (13/15)

  14. #9839
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    Quote Originally Posted by Deebased View Post
    Is two homes the new baseline for rich?

    Rich enough to be beheaded, yes it does. And I know that would include my parents, but you have to break a few eggs to make an omelette.

  15. #9840
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    Oct 2011
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    Aspen
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    Quote Originally Posted by Toadman View Post
    Well, if one home is in Aspen or JH, maybe Telluride or DV? And the other is in some posh zip code in a big city, then that could easily define rich. Location, location, location!
    Real estate agents around Aspen have recently told those looking in the $3-5M range that “this is not your market to buy in.” Way too much demand and people buying sight unseen. The rich are here, as strongly and wrongly as they’ve ever been.


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  16. #9841
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    Dec 2009
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    Dirt pimp on a morning radio program out of Charlotte suggesting clients refinance. And consider taking out equity in the process.

  17. #9842
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    Mar 2005
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    Dystopia
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    Kevo, $270k tax free is hard to beat.

    Break even rental is a bad idea. Unless you truly plan to come back.

    Imagine selling in 3 years, having wear and tear, and paying cap gains taxes.
    Plus, this is peak covid pricing. Take the money and run. If you have to come back, will prices really be much higher?

    At the very least, list it higher than your realtor says. See what bites. Might be $300k tax free
    . . .

  18. #9843
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    Oct 2010
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    1,953
    Quote Originally Posted by Mazderati View Post
    Dirt pimp on a morning radio program out of Charlotte suggesting clients refinance. And consider taking out equity in the process.
    Name:  Hey I've seen this one - Imgur.jpg
Views: 555
Size:  34.4 KB

  19. #9844
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    Apr 2004
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    cordova,AK
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    Quote Originally Posted by Kevo View Post
    Thanks, I think that means I can go up to 3 years without living in my CO house and still have the cap gains exclusion, no? (2 years most recently, then 3 years not living in the house = 2/5 years)


    Ended up in Driggs. Wanted to be closer to Targhee (not planning many days at the village) and for backcountry skiing I'll likely ski more via sled access in Teton Canyon than on Teton Pass (a very good friend can sled up Teton Canyon from his house without driving).


    Thanks man. Yeah, the TV house is a second home from a mortgage standpoint at the moment. I won't need to sell my Golden house in order to purchase the TV house, which came in handy in the buying process- Someone from UT made a contingent offer on the TV house for $10k more than I did. the seller didn't like them needing to sell their house in UT as part of the deal so I ended up getting the house since I didn't have a need to sell my current house to buy the TV house.

    I understand that primary home mortgages have better rates. Should I consider buying the TV house with a primary mortgage? Would it require that I Refi the CO house as a second home to make that happen?


    Appreciate your take. I think in the long run Front Range real estate will only go up. My house is against the mountains and backs to open space and MTB trails. There are only so many housing units in CO that have easy commutes to Denver (<20 minutes) and mountain bike/ trail run access without driving.

    I was leaning towards the "rent it out" direction but I've talked to a couple Front Range real estate investor friends today who are advising to sell take the $. They both think cap rates are too low to justify current prices. Now I'm up late doing more research...
    If Golden was so special you would not be leaving. Listen to your friends take the bucks. Who needs two mortgages? Especially when your rent is only covering your payment. Cash in hand is far better than two mortgages.
    off your knees Louie

  20. #9845
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    Apr 2006
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    Quote Originally Posted by Core Shot View Post
    Kevo, $270k tax free is hard to beat.

    Break even rental is a bad idea. Unless you truly plan to come back.

    Imagine selling in 3 years, having wear and tear, and paying cap gains taxes.
    Plus, this is peak covid pricing. Take the money and run. If you have to come back, will prices really be much higher?

    At the very least, list it higher than your realtor says. See what bites. Might be $300k tax free
    I keep going back and forth in my mind.

    One of my buddies reminded me that while renting my house I'll also keep the part of the mortgage payment they goes to principal every month ~$700). So, the rent it out option will actually make me $1,100 per month if I use a property manager or $1,400 per month if I manage it own my own. This is, of course, before maintenance, etc.

    My mortgage is $2,300 including taxes and insurance on a 4 bed, 3.5 bath house in a desirable part of Golden. I looked recently to see what was out there from a rental standpoint and I'd only be able to get a mediocre 2 bed, 2 bath apartment in Golden for the same price in rent.

    Also after looking today I think I'd be able to rent my house for more than the $3k I was thinking it would get.

    I need to make a decision in the next week or so. If I get the go ahead to be perma remote it makes it easier to take the money and run.

    I'm talking to a friend who is a real estate investor this weekend to see what he says.

  21. #9846
    Join Date
    Oct 2007
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    12,611
    Quote Originally Posted by Kevo View Post
    I keep going back and forth in my mind.

    One of my buddies reminded me that while renting my house I'll also keep the part of the mortgage payment they goes to principal every month ~$700). So, the rent it out option will actually make me $1,100 per month if I use a property manager or $1,400 per month if I manage it own my own. This is, of course, before maintenance, etc.

    My mortgage is $2,300 including taxes and insurance on a 4 bed, 3.5 bath house in a desirable part of Golden. I looked recently to see what was out there from a rental standpoint and I'd only be able to get a mediocre 2 bed, 2 bath apartment in Golden for the same price in rent.

    Also after looking today I think I'd be able to rent my house for more than the $3k I was thinking it would get.

    I need to make a decision in the next week or so. If I get the go ahead to be perma remote it makes it easier to take the money and run.

    I'm talking to a friend who is a real estate investor this weekend to see what he says.
    Even w/ a management company, it'll be more work than you think. If you are prepared for that, then it can be a good investment.

    Just know that shit happens at the least opportune times and you will still have a lot of maintenance items that can go wrong with two homes. Two AC units, two dishwashers, two refrigerators, two HOAs etc etc. Even if the mgmt company takes care of it, you will still be paying for it and dealing with it in at least some capacity, if it is only financially.

  22. #9847
    Join Date
    May 2007
    Location
    Sandy, Utah
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    14,410
    Quote Originally Posted by Benny Profane View Post
    NYC in the late 70s had plenty of restaraunts, Broadway was humming, lots of tourists, and a pretty cool music scene. It was gritty, but, things were happening. There would be no punk rock, for one thing. This is very different.
    Gritty is a very nice way to put manhattan back in those days. Ever head to 42nd street back then? Hookers and junkies. Garbage all over. Bum problem at epic levels. Would you walk on the street in spanish harlem in 1984? Today? How about alphabet city in 1984? Nope...today? No problem. Sure there were reasturants, and cbgb's but only the brave and in city residents were enjoying those. Nyc wasn't a pretty place back then imho. Everyone sees things through their own lens though so ymmv.

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  23. #9848
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    Mar 2006
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    19,814
    Across street renters did $80k in damages to property so if your ok with the house potentially getting trashed.

  24. #9849
    Join Date
    Jan 2008
    Location
    The Queen City North Carolina
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    1,436
    Quote Originally Posted by Kevo View Post
    I keep going back and forth in my mind.

    One of my buddies reminded me that while renting my house I'll also keep the part of the mortgage payment they goes to principal every month ~$700). So, the rent it out option will actually make me $1,100 per month if I use a property manager or $1,400 per month if I manage it own my own. This is, of course, before maintenance, etc.

    My mortgage is $2,300 including taxes and insurance on a 4 bed, 3.5 bath house in a desirable part of Golden. I looked recently to see what was out there from a rental standpoint and I'd only be able to get a mediocre 2 bed, 2 bath apartment in Golden for the same price in rent.

    Also after looking today I think I'd be able to rent my house for more than the $3k I was thinking it would get.

    I need to make a decision in the next week or so. If I get the go ahead to be perma remote it makes it easier to take the money and run.

    I'm talking to a friend who is a real estate investor this weekend to see what he says.
    Take the money and run. Long distance renting sucks. Or just buy the TV place as "winter home". Sure your house in Golden is empty for a while, but it's also not being trashed. Try it for one winter before committing. What if employment changes. Job is driggs, victor are slim compared to front range.

  25. #9850
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    May 2007
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    Sandy, Utah
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    14,410
    Quote Originally Posted by 4matic View Post
    Across street renters did $80k in damages to property so if your ok with the house potentially getting trashed.
    Da fuq? What did they do pull all the copper? I'm guessing the 1.5months security didn't help much with repairs.

    Vibes.

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