Semi work safe
08-27-2009, 01:55 PM
#1322
I Have Too Much Free Time
Join Date: Oct 2002
Location: Bangor, ME
Age: 45
Posts: 16,003
Re: Semi work safe
ha ... that's an old school thought ... 80% of homeowners (i love arbitrary percentages) that bought when I did will never make money on their house in the next 10 years ..
I also would not have sunk the thousands into pointless home improvements, would not have to buy stuff like lawn equipment, would not have to spend any time or money maintaining said lawn ... wouldn't have to reseal the driveway every year.. etc etc ... i can continue but i think you will get the point
I also would not have sunk the thousands into pointless home improvements, would not have to buy stuff like lawn equipment, would not have to spend any time or money maintaining said lawn ... wouldn't have to reseal the driveway every year.. etc etc ... i can continue but i think you will get the point
08-27-2009, 01:55 PM
#1323
Retired
Join Date: Mar 2003
Location: .
Posts: 37,967
Re: Semi work safe
I owe 150K on something that is now worth 75K. I made a killing on my place......
08-27-2009, 01:56 PM
#1324
I Chose to No Longer Post
Join Date: Apr 2004
Age: 44
Posts: 37,827
08-27-2009, 01:57 PM
#1325
Retired
Join Date: Mar 2003
Location: .
Posts: 37,967
Re: Semi work safe
ha ... that's an old school thought ... 80% of homeowners (i love arbitrary percentages) that bought when I did will never make money on their house in the next 10 years ..
I also would not have sunk the thousands into pointless home improvements, would not have to buy stuff like lawn equipment, would not have to spend any time or money maintaining said lawn ... wouldn't have to reseal the driveway every year.. etc etc ... i can continue but i think you will get the point
I also would not have sunk the thousands into pointless home improvements, would not have to buy stuff like lawn equipment, would not have to spend any time or money maintaining said lawn ... wouldn't have to reseal the driveway every year.. etc etc ... i can continue but i think you will get the point
08-27-2009, 01:59 PM
#1326
I Chose to No Longer Post
Join Date: Apr 2004
Age: 44
Posts: 37,827
Re: Semi work safe
Your house only has to be worth more than you owe. Which will take a long time for some people. What I mean by make money is increase it's value independent of the market. All houses go up and down together, more or less. The trick is increasing the value of your house with improvements that cost less than what you gain. If you rely on the the market to make money, you really don't make anything. If you live in the house, you have to go out and buy another one in that same inflated market.
08-27-2009, 01:59 PM
#1327
I Have Too Much Free Time
Join Date: Oct 2002
Location: Bangor, ME
Age: 45
Posts: 16,003
Re: Semi work safe
I can't believe that you really lost 50% of the value of your home. Regardless, the market will rebound. If you've improved your home to get above what you owe at some point, you will be better off.
08-27-2009, 02:00 PM
#1328
I Chose to No Longer Post
Join Date: Apr 2004
Age: 44
Posts: 37,827
Re: Semi work safe
08-27-2009, 02:01 PM
#1329
Certified
Join Date: Jan 2003
Location: Lauderdale
Age: 35
Posts: 13,773
Re: Semi work safe
thats what bit me in the *** throughout highschool... i never really paid attention to ****... i had the mindset "Im going to MMI, i dont need to pay attention to ****, besides auto mechanics.. i skipped classes to to go to auto and **** around there...
Now im stuck giving ******* **** heads drug tests...
and staring at this hott chick whos in front of me filling out paperwork... wonder why she wont sit down... theres 8 chairs and shes been standing in front of me the last 10 mins... must be the old spice...
08-27-2009, 02:02 PM
#1330
I Chose to No Longer Post
Join Date: Apr 2004
Age: 44
Posts: 37,827
Re: Semi work safe
08-27-2009, 02:02 PM
#1331
I Have Too Much Free Time
Join Date: Oct 2002
Location: Bangor, ME
Age: 45
Posts: 16,003
Re: Semi work safe
I understand what you mean, but I feel your logic is flawed. I probably dumped 20 grand into my house since I bought it if you add up all the big stuff and all the nickel and dime stuff ... I would have made a lot more if I would not have bought a house, or bought a condo for 30 grand less and not had to buy all the extras, and put it all into a 5% money market ... even with the shitty economy. All my improvements were materials only, doesn't mean they offer the return you are assuming ...
08-27-2009, 02:03 PM
#1332
Certified
Join Date: Jan 2003
Location: Lauderdale
Age: 35
Posts: 13,773
08-27-2009, 02:05 PM
#1333
I Chose to No Longer Post
Join Date: Apr 2004
Age: 44
Posts: 37,827
Re: Semi work safe
08-27-2009, 02:05 PM
#1334
I Have Too Much Free Time
Join Date: Oct 2002
Location: Bangor, ME
Age: 45
Posts: 16,003
08-27-2009, 02:07 PM
#1337
I Have Too Much Free Time
Join Date: Oct 2002
Location: Bangor, ME
Age: 45
Posts: 16,003
08-27-2009, 02:11 PM
#1338
Retired
Join Date: Mar 2003
Location: .
Posts: 37,967
Re: Semi work safe
Believe it. My area was one of the worst hit in the nation. It's not going to get back to the break even point in the next 20 years, let alone in the next 3-5 years when I would like to move. Short sale or just walking away are my only choices, I don't have 75K cash to be able to leave my house.
08-27-2009, 02:11 PM
#1339
Certified
Join Date: Jan 2003
Location: Lauderdale
Age: 35
Posts: 13,773
Re: Semi work safe
i make around $700 every 2 weeks... The accident is what is breaking me... i havent even gone to court yet.. and i've spent $1200 bucks already... $700 for All State.. $400 for the lawyer.. $100 for the co-payment for the hospital lol...I still have to pay for the rental car (all state still hasnt emailed me or called for that) and court fees, and my fines...
All in All im going to be broke until Decemeber im thinking
All in All im going to be broke until Decemeber im thinking
08-27-2009, 02:12 PM
#1340
I Chose to No Longer Post
Join Date: Apr 2004
Age: 44
Posts: 37,827
Re: Semi work safe
Oh. I'm saying due to the market. House has still devalued despite improvements. Based on what you've said in the past your area doesn't seem to be affected like most the rest of the country lol.
