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Thread: Tomorrow's Moving Day (FINALLY!)

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    Gold Vwls's Avatar
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    Tomorrow's Moving Day (FINALLY!)

    I've been camping out at a friend's place for more than a month, waiting for the house I rented to get vacant, cleaned and inspected. SO tired of living out of boxes and bags, I could scream! Can't wait to have all my stuff where I can get at it and then just sink into MY bed and breathe a sigh of relief.

    Anyone wanna help unload a full sized Pod into a 2 story house?

    Might be AFK for a few days while it all goes down - I actually won't get the Internet hooked up till next Monday. There's always iPhone though if I get desperate to talk to you fags ;o)

    Wish me luck!

     
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      FRANKRIZZO: good luck best wishes
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    Feelin' Stronger Every Day tony bagadonuts's Avatar
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    Quote Originally Posted by Vwls View Post
    I've been camping out at a friend's place for more than a month, waiting for the house I rented to get vacant, cleaned and inspected. SO tired of living out of boxes and bags, I could scream! Can't wait to have all my stuff where I can get at it and then just sink into MY bed and breathe a sigh of relief.

    Anyone wanna help unload a full sized Pod into a 2 story house?

    Might be AFK for a few days while it all goes down - I actually won't get the Internet hooked up till next Monday. There's always iPhone though if I get desperate to talk to you fags ;o)

    Wish me luck!
    Good luck vwls, and I can think of a certain guy in San Jose who I'm sure would be happy to help.

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    Gold Vwls's Avatar
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    LOL might have to get him out here - it's gonna be a ton of work - I have a dining set with a glass top that has to weigh 300 pounds.
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    I must of missed this. Last I heard you moved back with your ex husband, got remarried and all was well and you were making pancakes Sunday morning.

    Not passing judgement, as I am the least person to do so, but WTF happened?

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    Gold Vwls's Avatar
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    Hi PHA - it's a short but familiar story. I had a house I bought in 2005 - market crashed and the value spiraled down from $226,000 to $55,000. Bank refused to settle with me for a reasonable price - I went into short sale mode out of desperation and some stranger off the streets bought it for 55... they refused my offer of 95 just three months prior. So now I'm a renter and my credit is shot. Two years to rebuild is what they say.
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    Platinum Rollo Tomasi's Avatar
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    congrats Vwls

    "May your home be a place of happiness and health,
    of contentment, generosity and hope,
    a home of creativity and kindness.
    May those who visit and those who live there
    know only blessing and peace."
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    Look Corrigan, you've been a sideshow clown around here from the jump
    It's tough to take you seriously when you've made your bones acting the fool.
    Quote Originally Posted by Brittney Griner's Clit View Post
    Which one is he?

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    Gold Vwls's Avatar
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    That is so sweet. What's the story behind your avatar?
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    Renting is fine. Not sure why people feel the need to buy anymore. Every thing I have seen lately, home ownership will not be an investment again for a generation. In other words, home prices will continue to fall and foreclosures will continue to come onto the market as the government loses interest in trying to save homeowner's faulty loans. Banks always win in the end. Every time.

    Now that said, home ownership has its moral advantages. My brother and his family are staples in their community and he is about paid off on his house on a 15 year note. So there is that. Although he just got tuned up for a new roof which set him back like 20.

    I think is absolutely retarded to buy a home in today's market. The whole idea you are buying some type of investment vehicle is ridiculous. There is NO appreciation. If there is no pressing moral advantange, I see no advantage today to buy a place only to see it stagnate while paying insurance and property taxes

    Look on the bright side Vwls. No more taxes, and when shit breaks call your landlord. You just got a raise.

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    Silver TheTemplar's Avatar
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    Quote Originally Posted by Vwls View Post
    I've been camping out at a friend's place for more than a month, waiting for the house I rented to get vacant, cleaned and inspected. SO tired of living out of boxes and bags, I could scream! Can't wait to have all my stuff where I can get at it and then just sink into MY bed and breathe a sigh of relief.

    Anyone wanna help unload a full sized Pod into a 2 story house?

    Might be AFK for a few days while it all goes down - I actually won't get the Internet hooked up till next Monday. There's always iPhone though if I get desperate to talk to you fags ;o)

    Wish me luck!
    Good luck miss. Wish you the best.
    Of all the money e'er I had, I spent it in good company

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    Gold Vwls's Avatar
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    Quote Originally Posted by The PHA View Post
    Renting is fine. Not sure why people feel the need to buy anymore. Every thing I have seen lately, home ownership will not be an investment again for a generation. In other words, home prices will continue to fall and foreclosures will continue to come onto the market as the government loses interest in trying to save homeowner's faulty loans. Banks always win in the end. Every time.

    Now that said, home ownership has its moral advantages. My brother and his family are staples in their community and he is about paid off on his house on a 15 year note. So there is that. Although he just got tuned up for a new roof which set him back like 20.

    I think is absolutely retarded to buy a home in today's market. The whole idea you are buying some type of investment vehicle is ridiculous. There is NO appreciation. If there is no pressing moral advantage, I see no advantage today to buy a place only to see it stagnate while paying insurance and property taxes.

    Look on the bright side Vwls. No more taxes, and when shit breaks call your landlord. You just got a raise.
    The thing is, it's not a raise. Buying right now is dirt cheap plus you get the tax write off. Renting is sky high because they are gouging. It's def a step down. I suppose where one lives makes a difference, but here, there's simply no reason not to buy if you can. Sure its not the great investment it once was, but it's certainly a lower cost solution.
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    Quote Originally Posted by Vwls View Post
    Quote Originally Posted by The PHA View Post
    Renting is fine. Not sure why people feel the need to buy anymore. Every thing I have seen lately, home ownership will not be an investment again for a generation. In other words, home prices will continue to fall and foreclosures will continue to come onto the market as the government loses interest in trying to save homeowner's faulty loans. Banks always win in the end. Every time.

    Now that said, home ownership has its moral advantages. My brother and his family are staples in their community and he is about paid off on his house on a 15 year note. So there is that. Although he just got tuned up for a new roof which set him back like 20.

    I think is absolutely retarded to buy a home in today's market. The whole idea you are buying some type of investment vehicle is ridiculous. There is NO appreciation. If there is no pressing moral advantage, I see no advantage today to buy a place only to see it stagnate while paying insurance and property taxes.

    Look on the bright side Vwls. No more taxes, and when shit breaks call your landlord. You just got a raise.
    The thing is, it's not a raise. Buying right now is dirt cheap plus you get the tax write off. Renting is sky high because they are gouging. It's def a step down. I suppose where one lives makes a difference, but here, there's simply no reason not to buy if you can. Sure its not the great investment it once was, but it's certainly a lower cost solution.
    1) You do not have a 20-40% down payment on a new house

    2) Your tax write off on "your" $200,000 house was inflated by your own admission. Real write off was based on $55,000. Do math. You essentially were overpaid.

    3) How is "Buying right now is dirt cheap" when you do not have the money? How can you make that statement?

    No offense, but what planet are you on? You paid 5x for a house, the bank took it back, the LAST THING you should be doing is doing math equations on renting versus buying. Just be thankful you have a decent place to stay.

    Your conversations about renting versus buying is when you have 50% of a downpayment in your savings.

    What an odd response you gave. Oh well, who cares.

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    Platinum Muck Ficon's Avatar
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    Good luck Vwls. Hope everything goes smooth.
    Quote Originally Posted by Baron Von Strucker View Post
    Quote Originally Posted by kmksmkn View Post
    Does anybody know if u can get a work visa for playing online poker in the UK
    I have had Issues with credit cards in Europe
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    you're more consumed with accumulating wealth than achieving spiritual enlightenment
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    Getting a little surf and turf tonight. In my world that is Sea Bass with a nice lobster tail on the side. And grilled asparagus. It's nice having money.

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    Welcher jsearles22's Avatar
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    Quote Originally Posted by The PHA View Post
    Quote Originally Posted by Vwls View Post
    The thing is, it's not a raise. Buying right now is dirt cheap plus you get the tax write off. Renting is sky high because they are gouging. It's def a step down. I suppose where one lives makes a difference, but here, there's simply no reason not to buy if you can. Sure its not the great investment it once was, but it's certainly a lower cost solution.
    1) You do not have a 20-40% down payment on a new house

    2) Your tax write off on "your" $200,000 house was inflated by your own admission. Real write off was based on $55,000. Do math. You essentially were overpaid.

    3) How is "Buying right now is dirt cheap" when you do not have the money? How can you make that statement?

    No offense, but what planet are you on? You paid 5x for a house, the bank took it back, the LAST THING you should be doing is doing math equations on renting versus buying. Just be thankful you have a decent place to stay.

    Your conversations about renting versus buying is when you have 50% of a downpayment in your savings.

    What an odd response you gave. Oh well, who cares.

    PHA, you are simply wrong. There has been no better time in the past 50 years in America to buy a house then today. House prices are extremely low, the government is forcing lenders to give optimal terms for buyers, and the economy is in the shit tank. Every economist in history has realized that the best time to buy is at the bottom. The housing market has no where to go but up. If you plan on staying somewhere 10+ years and you have the means, you would be insane not to purchase at this point. Vwls is 100% correct that renting isnt necessarily advantageous right now. People rent to make a profit. Many of these places that are being rented are still stuck on sub prime mortgages. If they are renting to you, covering their mortgage payment plus expenses, and turning a small profit then how is it not better for you to just cut out the middle man?

    And your point #3 just shows your intelligence level. Let me give an example: Say a brand new Chevy 4X4 truck is worth $35,000 brand new. My local dealership is selling them for $10,000 this weekend only. I dont have 2 nickels to rub together. By your logic, Im not allowed to tell someone that they are selling the truck dirt cheap, because I dont have the money to buy it?

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    Quote Originally Posted by Vwls View Post
    That is so sweet. What's the story behind your avatar?
    ty

    just think she is cute


    Quote Originally Posted by tony bagadonuts View Post

    Look Corrigan, you've been a sideshow clown around here from the jump
    It's tough to take you seriously when you've made your bones acting the fool.
    Quote Originally Posted by Brittney Griner's Clit View Post
    Which one is he?

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    Gold Vwls's Avatar
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    Quote Originally Posted by The PHA View Post
    Quote Originally Posted by Vwls View Post
    The thing is, it's not a raise. Buying right now is dirt cheap plus you get the tax write off. Renting is sky high because they are gouging. It's def a step down. I suppose where one lives makes a difference, but here, there's simply no reason not to buy if you can. Sure its not the great investment it once was, but it's certainly a lower cost solution.
    1) You do not have a 20-40% down payment on a new house

    2) Your tax write off on "your" $200,000 house was inflated by your own admission. Real write off was based on $55,000. Do math. You essentially were overpaid.

    3) How is "Buying right now is dirt cheap" when you do not have the money? How can you make that statement?

    No offense, but what planet are you on? You paid 5x for a house, the bank took it back, the LAST THING you should be doing is doing math equations on renting versus buying. Just be thankful you have a decent place to stay.

    Your conversations about renting versus buying is when you have 50% of a downpayment in your savings.

    What an odd response you gave. Oh well, who cares.
    If you buy a 300,000 house for 75,000 (this is the time to do that), it's true it will never regain the inflated value it once had and you won't be sitting on a nestegg. But you're going to get a really nice upscale home and it doesnt require a huge down. Your monthly payments will be the same as renting a much crappier place. That's just how it is in my area right now.

    The tax write off on the mortgage interest versus the maintenance on a newer build and the annual taxes are pretty much a wash, so it comes down to what you want to pay a month and how much of a hovel you're willing to settle for. With all the foreclosures and short sales going on, the rental market is on fire right now, so they are gouging. It's not like it was even a year ago - what was $1200 a month then is now $1600 to $1800.

    The tax write off comment you made seems odd. I had a write off that reflected my mortgage payments and they were never based on the real (new) value. That's what I was fighting with the bank about to begin with.
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    Diamond Sloppy Joe's Avatar
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    Quote Originally Posted by Vwls View Post
    Quote Originally Posted by The PHA View Post

    1) You do not have a 20-40% down payment on a new house

    2) Your tax write off on "your" $200,000 house was inflated by your own admission. Real write off was based on $55,000. Do math. You essentially were overpaid.

    3) How is "Buying right now is dirt cheap" when you do not have the money? How can you make that statement?

    No offense, but what planet are you on? You paid 5x for a house, the bank took it back, the LAST THING you should be doing is doing math equations on renting versus buying. Just be thankful you have a decent place to stay.

    Your conversations about renting versus buying is when you have 50% of a downpayment in your savings.

    What an odd response you gave. Oh well, who cares.
    If you buy a 300,000 house for 75,000 (this is the time to do that), it's true it will never regain the inflated value it once had and you won't be sitting on a nestegg. But you're going to get a really nice upscale home and it doesnt require a huge down. Your monthly payments will be the same as renting a much crappier place. That's just how it is in my area right now.

    The tax write off on the mortgage interest versus the maintenance on a newer build and the annual taxes are pretty much a wash, so it comes down to what you want to pay a month and how much of a hovel you're willing to settle for. With all the foreclosures and short sales going on, the rental market is on fire right now, so they are gouging. It's not like it was even a year ago - what was $1200 a month then is now $1600 to $1800.

    The tax write off comment you made seems odd. I had a write off that reflected my mortgage payments and they were never based on the real (new) value. That's what I was fighting with the bank about to begin with.
    Good luck with your transition. I'm flirting with the idea of buying a small house but there are so many variables to consider.

    How the fuck do you know when the right time is? I'm 26 and currently happy with my life but who can forecast what lies ahead?

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    Welcher jsearles22's Avatar
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    Quote Originally Posted by Sloppy Joe View Post
    Quote Originally Posted by Vwls View Post
    If you buy a 300,000 house for 75,000 (this is the time to do that), it's true it will never regain the inflated value it once had and you won't be sitting on a nestegg. But you're going to get a really nice upscale home and it doesnt require a huge down. Your monthly payments will be the same as renting a much crappier place. That's just how it is in my area right now.

    The tax write off on the mortgage interest versus the maintenance on a newer build and the annual taxes are pretty much a wash, so it comes down to what you want to pay a month and how much of a hovel you're willing to settle for. With all the foreclosures and short sales going on, the rental market is on fire right now, so they are gouging. It's not like it was even a year ago - what was $1200 a month then is now $1600 to $1800.

    The tax write off comment you made seems odd. I had a write off that reflected my mortgage payments and they were never based on the real (new) value. That's what I was fighting with the bank about to begin with.
    Good luck with your transition. I'm flirting with the idea of buying a small house but there are so many variables to consider.

    How the fuck do you know when the right time is? I'm 26 and currently happy with my life but who can forecast what lies ahead?
    A real good rule of thumb is don't ever buy house unless you plan on living there 5 years minimum.

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    Bronze HEX's Avatar
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    So you're with your husband? The whole family is camping on someone's couch? I don't get it.

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    Quote Originally Posted by jsearles22 View Post
    Quote Originally Posted by The PHA View Post

    1) You do not have a 20-40% down payment on a new house

    2) Your tax write off on "your" $200,000 house was inflated by your own admission. Real write off was based on $55,000. Do math. You essentially were overpaid.

    3) How is "Buying right now is dirt cheap" when you do not have the money? How can you make that statement?

    No offense, but what planet are you on? You paid 5x for a house, the bank took it back, the LAST THING you should be doing is doing math equations on renting versus buying. Just be thankful you have a decent place to stay.

    Your conversations about renting versus buying is when you have 50% of a downpayment in your savings.

    What an odd response you gave. Oh well, who cares.

    PHA, you are simply wrong. There has been no better time in the past 50 years in America to buy a house then today. House prices are extremely low, the government is forcing lenders to give optimal terms for buyers, and the economy is in the shit tank. Every economist in history has realized that the best time to buy is at the bottom. The housing market has no where to go but up. If you plan on staying somewhere 10+ years and you have the means, you would be insane not to purchase at this point. Vwls is 100% correct that renting isnt necessarily advantageous right now. People rent to make a profit. Many of these places that are being rented are still stuck on sub prime mortgages. If they are renting to you, covering their mortgage payment plus expenses, and turning a small profit then how is it not better for you to just cut out the middle man?

    And your point #3 just shows your intelligence level. Let me give an example: Say a brand new Chevy 4X4 truck is worth $35,000 brand new. My local dealership is selling them for $10,000 this weekend only. I dont have 2 nickels to rub together. By your logic, Im not allowed to tell someone that they are selling the truck dirt cheap, because I dont have the money to buy it?
    I always laugh when I hear people say, "Now is the time to buy". People generally hear a soundbite from a CNBC analyst pimping his sector and parrot it as gospel.

    Here is a recent article from April 26, 2012 and those who listened to those pimps. The numbers simply don't lie:

    (Reuters) - More than 1 million Americans who have taken out mortgages in the past two years now owe more on their loans than their homes are worth, and Federal Housing Administration loans that require only a tiny down payment are partly to blame.

    That figure, provided to Reuters by tracking firm CoreLogic, represents about one out of 10 home loans made during that period.

    It is a sobering indication the U.S. housing market remains deeply troubled, with home values still falling in many parts of the country, and raises the question of whether low-down payment loans backed by the FHA are putting another generation of buyers at risk


    The whole article is here http://www.reuters.com/article/2012/...83P12E20120426

    Home prices fell 3.5% in February and there is plenty of talk they could drop another 10% and that does not even take into account the potential economic collapse in Europe which would lead to unemployment here and further declines in prices.

    I am not bashing home ownership, it provides stability for communities and families. But for a lot of people, it became a right rather than a privilege.

    If you cannot put 20% down, and have 12 months of payments in reserve, and most of all, can EASILY afford the monthly payment, you have no business owning a home. You need to rent

    In the past, most foreclosures were due to illness, death in the family by an earner, or some other type of traumatic event. Today's foreclosures, its people that took out teaser rate loans that reset in their face, had no money in the bank in the event of something unforseen like a temporary job loss, or the attitude "Prices only go up never down".

    Most people that get foreclosed deserve it 100% as they never should have been in the house in the first place. A former friend of mine and his wife bought a $350,000 house, the loan reset 3 years later in their face and he got foreclosed and he and their 3 kids ended up in an apartment. Even though he lived 8 months rent free in the house during the process, this fucking guy blamed everyone but himself. Finally after months of listening to him gripe about his own stupidity I told him it was his own fucking fault and the only one who really lost was the bank because you did not live up to your contract. We never spoke again.

    Houses traditionally are a shiity investment (outside the bubble years where it was gambling), but like I said, there is plenty of other reasons to own a home other than trying to get rich.
    Last edited by The PHA; 05-09-2012 at 10:33 AM.

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    Owner Dan Druff's Avatar
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    PHA raises some good points, but he is incorrect that real estate is traditionally a bad investment.

    You know this guy?



    That's Lakers owner Jerry Buss.

    Was he born wealthy? Did he start a traditional business that blew up huge?

    No.

    Jerry Buss was a middle-class engineer who started off investing apartment buildings in the 1960s, when he was around 30 years old.

    He was very good at choosing which properties to invest in, and was enormously helped by the rapid escalation of real estate values (especially in the 1970s). By 1979, he and business partner Frank Mariani had enough money to buy the Lakers.

    There are many lesser-profile people who made a lot of money in real estate by simply buying as much as they could during the '60s, '70s, '80s, and '90s. There was a moderate real estate market slump in the early '90s, but it recovered with quickly escalating property values between 1995 and 2007.

    So real estate wasn't just a good investment right before the 2007 bubble burst. It had been a good investment for at least 50 years prior. It was a terrible investment for a few years, specifically 2007-2010 in most areas.

    So what about right now?

    It's flat. I agree with PHA that we are not likely to see much appreciation for quite some time, but I also don't see it falling much further, except in some still-depressed areas (like Las Vegas) that haven't flattened out yet.

    Bottom line: Buying a house these days isn't going to make you rich, but it also probably won't result in a loss of investment, unless your own circumstances change and you are unable to make mortgage payments.

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