GOLFMK8
GOLFMK7
GOLFMK6
GOLFMKV

ChiChat16:Race For 10K Posts - Will Achieve Oct 2019

Status
Not open for further replies.
jay745

jay745

What Would Glenn Danzig Do
RoyB said:
Why do you have to live in the same house for 30 years? Take your 2.3% per year equity and reinvest into another property when you feel like moving.
Click to expand...

In a perfect world scenario where your house holds its value and you find a buyer right away sure. A lot of places sit and rot on the market forever. Or they aren't worth what you paid and you're stuck with the remainder. Ask jawn how that worked out for him.
 
cbaumy34

cbaumy34

Go Kart Champion
It's hard to talk finance on a car forum because according to 99% of financial advisor we are all idiots as cars and modding are horrible investments. If we wanted to be financially wise we would all go out and buy a Toyota Camry and drive that for 20 years....



Sent from my SAMSUNG-SM-G930A using Tapatalk
 
Fastlax16

Fastlax16

Autocross Newbie
That’s why you need to be smart about where you buy in the first place. I’m putting my condo on the market next month after three years. Should be a nice return on investment based on what identical floor plans have sold for. You also get a nice chunk of your property taxes back in your return each year and generally a mortgage is cheaper than what a comparable place to rent would be. For me it’d be another $500 a month to rent in the neighborhood I own in.


Sent from my iPhone using Tapatalk
 
BoostedVW11

BoostedVW11

Drag Racing Champion
My neighbors bought at the wrong time (pre 2007)....one of those you have no choice but to stay till the market gets better cause the hit is too large.


Id encourage everyone to look at 15 year conventional vs a 30 year PMI (which may have points)...for not much more money you end up paying far less. If the payments are too high for you one day, can always refinance back to a 30 year.
 
DASVDUB

DASVDUB

Drag Racing Champion
cbaumy34 said:
It's hard to talk finance on a car forum because according to 99% of financial advisor we are all idiots as cars and modding are horrible investments. If we wanted to be financially wise we would all go out and buy a Toyota Camry and drive that for 20 years....



Sent from my SAMSUNG-SM-G930A using Tapatalk
Click to expand...



Lol amen to that. When my car is paid off, we are getting her a new car, and I’m driving the wheels off her 99 park avenue that has 318k miles on it. Otherwise I’m getting a Honda or Toyota something. lol


Sent from my iPhone using Tapatalk
 
Cadubya

Cadubya

Autocross Newbie
cbaumy34 said:
It's hard to talk finance on a car forum because according to 99% of financial advisor we are all idiots as cars and modding are horrible investments. If we wanted to be financially wise we would all go out and buy a Toyota Camry and drive that for 20 years....



Sent from my SAMSUNG-SM-G930A using Tapatalk
Click to expand...



Meh, everyone has a vice. At least it’s not drugs and drinking. Gotta have fun somehow. Otherwise, what’s the point of living.
 
R

RoyB1

Go Kart Champion
BoostedVW11 said:
My neighbors bought at the wrong time (pre 2007)....one of those you have no choice but to stay till the market gets better cause the hit is too large.


Id encourage everyone to look at 15 year conventional vs a 30 year PMI (which may have points)...for not much more money you end up paying far less. If the payments are too high for you one day, can always refinance back to a 30 year.
Click to expand...

Yea, the recession was nasty and luckily doesn't happen often. If you were smart, you could had used it to your advantage though. Rates dropped to historic lows. I was able to refi my ARM into a 15 year fixed @ 2.75% saving me a ton of money short and long term. If you were sitting on the sidelines waiting to buy, the prime time was within the last 2 years. Housing prices were low and interest rates were low. In the past year prime as gone up like .75% and housing prices have increased like 10% in my neighborhood.

The only thing keeping me in my current house is my property taxes are cheap compared to other houses I am interested in. $5500/yr vs $12K/yr for slightly larger houses. I can't justify an extra $500/mo for taxes at the moment.
 
cbaumy34

cbaumy34

Go Kart Champion
Cadubya said:
Meh, everyone has a vice. At least it’s not drugs and drinking. Gotta have fun somehow. Otherwise, what’s the point of living.
Click to expand...
This is true man. There would be no point. But to an FA. The only goal is to retire and not run out of money lol

Sent from my SAMSUNG-SM-G930A using Tapatalk
 
OmniGLH

OmniGLH

Autocross Newbie
RoyB said:
The only thing keeping me in my current house is my property taxes are cheap compared to other houses I am interested in. $5500/yr vs $12K/yr for slightly larger houses. I can't justify an extra $500/mo for taxes at the moment.
Click to expand...

I would kill for that tax bill lol
 
R

RoyB1

Go Kart Champion
OmniGLH said:
I would kill for that tax bill lol
Click to expand...

I know, right? It creeped up to 7K a few years ago, but I usually fight it and they drop it back down to 6K. This last time it dropped to 5500 and stayed there for another year. I am in Crook County too. The only houses that interest me are ones with 3+ car garages. They all come with property taxes in excess of $11K. I am making due with my 2.5 for now. I widened my driveway a year ago to alleviate some of the congestion. GF thinks I need less vehicles. I think she's nuts. I have started storing them at my work now.

Not sure what's gonna happen when the 14yo starts driving in a couple years and the 18 yo moves back home from college over the summers. I might have to buy the neighbors house and tear it down and build a big garage. That would still be cheaper than moving to a larger house lol.
 
OmniGLH

OmniGLH

Autocross Newbie
I already have a 3-car - and one of the bays has my 4-post in it where I stack two cars. I'm still out of space.

The boy is only a few years away from driving... anywhere he parks is going to be an inconvenience once he gets a car.

As for taxes... yeah I fought mine every year and aside from one, my tax bill never went down. I'd argue the EAV was wrong, they'd give it to me - and then they'd jack up the "tax rate" to compensate and my end bill was the same.

The one year I actually got a nice reduction - the next year, it went right back up... and then some. I'm just shy of $10k on a house worth 230 :/ When I moved here 9 years ago, the tax bill was just shy of $10k and the house was valued at 320.

My EAV is now *under* what the current value is.... so my bill will only continue going UP from here and I won't have any recourse.
 
Last edited:
Cadubya

Cadubya

Autocross Newbie
OmniGLH said:
I already have a 3-car - and one of the bays has my 4-post in it where I stack two cars. I'm still out of space.

The boy is only a few years away from driving... anywhere he parks is going to be an inconvenience once he gets a car.

As for taxes... yeah I fought mine every year and aside from one, my tax bill never went down. I'd argue the EAV was wrong, they'd give it to me - and then they'd jack up the "tax rate" to compensate and my end bill was the same.

The one year I actually got a nice reduction - the next year, it went right back up... and then some. I'm just shy of $10k on a house worth 230 :/ When I moved here 9 years ago, the tax bill was just shy of $10k and the house was valued at 320.

My EAV is now *under* what the current value is.... so my bill will only continue going UP from here and I won't have any recourse.
Click to expand...



Dem Iowa taxes
 
Status
Not open for further replies.
Top