[audio-pals] Re: Older Houses
- From: Thomas McMahan <shadowmonstrosity@xxxxxxx>
- To: audio-pals@xxxxxxxxxxxxx
- Date: Sat, 14 Mar 2015 20:36:19 -0500
Morton?
> On Mar 14, 2015, at 8:05 PM, Daniel Crone <averagegrabbag@xxxxxxxxx> wrote:
>
> There is another company like General Steel, but I cannot remember the name.
> On Mar 14, 2015, at 4:50 PM, Thomas McMahan <shadowmonstrosity@xxxxxxx> wrote:
>
>> Yes, they are pretty large, but an acre of land he could put one up. Those
>> are for commercial or warehouse storage or churches, you were in one when
>> you were up here, the one over at Onarga is a General Steel building.
>>> On Mar 14, 2015, at 12:50 PM, Daniel Crone <averagegrabbag@xxxxxxxxx> wrote:
>>>
>>> Sometimes I would hear ads for all steel buildings.
>>> Are they mainly commercial or otherwise?
>>> On Mar 13, 2015, at 12:48 PM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>>>
>>>> My dad recommended a guy that sells these buildings. He said that he or
>>>> well his crew woiuld come out and set the building up so there is really
>>>> no labor involved if buying from him. He said he does payments, but if we
>>>> can save enough buying the house then we may not need to make payments.
>>>>
>>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
>>>> Sent: Friday, March 13, 2015 11:42 AM
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> Great an acre of land, as long as there aren’t to many trees right upon
>>>> the house you can get a building, line it’s side door up to where you want
>>>> it to go into the house, and with a little work, well it’s attached, even
>>>> cheaper if you can use an existing door on the house, it’s doable with a
>>>> little thinking power.
>>>>
>>>> The acre around it is a strong point verses just bing on a lot with
>>>> structures already around. But of course if you could find a place with a
>>>> garage already there that would be cool too, because yes storage is going
>>>> to be a problem, that is a draw back of our house. The good side is that
>>>> we don’t have a basement that floods like most basements around here
>>>> *lol*. We’ve already told our family that if a flood comes we’ll just cut
>>>> away from the utilities and float away, and everybody then has said “like
>>>> Noah’s ark.” Wonder why they would say that to us? Maybe something about
>>>> all of the animals here. Well that were here in the past more than now.
>>>>
>>>> On Mar 13, 2015, at 10:27 AM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>>>>
>>>> Sounds like space issues. Space issues concern me because the house that I
>>>> really lke does not have a basement or an attic. It has a shed, but that
>>>> will be full of yard stuff. Perhaps they sell storage buildings that I can
>>>> put in the yard. The house sits on an acre of land. Little Man and I are
>>>> having lunch with my Dad here in just a few minutes so I am going to talk
>>>> to him about the potential problems and how difficult they would be to
>>>> remedy. It seems like I have seen storage buildings at Lowes back when I
>>>> could see. The unfortunate thing is there is an open house on it Sunday
>>>> and my agent is out of town till Tuesday.
>>>>
>>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of BethAnn LaPresta
>>>> (Redacted sender "bela28_02@xxxxxxxxx" for DMARC)
>>>> Sent: Friday, March 13, 2015 10:36 AM
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> My garage is in front of the house, not my favorite scenario, but it
>>>> works. Also, they made about a third of it into finished space with a new
>>>> vinyl window, carpeting, etc. so you can't park a car in it. But, with
>>>> all the lawnmower, gardening, storage stuff, there probably wouldn't be
>>>> room to park in it anyway.
>>>>
>>>> From: Josh <lawdog911@xxxxxxxxxxx>
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Sent: Friday, March 13, 2015 5:40 AM
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> Talking about a detached garage, Amanda had a couple of houses on her list
>>>> that were detached garages, but I ruled them out before ever going to
>>>> them. I think a detached garage is useless. The main reason I would want a
>>>> garage in the first place is to stay out of the elements when they are bad
>>>> and if I had a detached garage well then I am still going outside at some
>>>> point in order to get in the house. Now, that the criteria has changed and
>>>> shifted a bit so that we have more options though it may be that we
>>>> reconsider detached garages at some point. After all we are now
>>>> considering houses with carports whereas before we were not.
>>>>
>>>>
>>>>
>>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
>>>> Sent: Thursday, March 12, 2015 2:37 PM
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> No he couldn’t, we he won’t once the property tax comes around. Not in
>>>> Chicago. Detroit maybe though.
>>>>
>>>> On Mar 12, 2015, at 1:19 PM, BethAnn LaPresta (Redacted sender
>>>> "bela28_02@xxxxxxxxx" for DMARC) <dmarc-noreply@xxxxxxxxxxxxx> wrote:
>>>>
>>>> Actually for $120K, he could probably buy an entire block in Chicago...
>>>>
>>>> From: Thomas McMahan <thomas.mcmahan@xxxxxxx>
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Sent: Thursday, March 12, 2015 11:08 AM
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> Why didn’t you tell us you lived in Chicago? Sounds very much the same as
>>>> it is up there.
>>>>
>>>> Hey Josh, I just thought of another option. There are lots of houses
>>>> available in Detroit. Heck you can probably buy yourself a school
>>>> building there. That would be a big house for you. Utilities might be a
>>>> little high though.
>>>>
>>>>
>>>> On Mar 12, 2015, at 11:57 AM, BethAnn LaPresta (Redacted sender
>>>> "bela28_02@xxxxxxxxx" for DMARC) <dmarc-noreply@xxxxxxxxxxxxx> wrote:
>>>>
>>>> My house is in a neighborhood that is definitely considered "the hood". I
>>>> refinanced in January at $130K and my payment is about $800/mo. My
>>>> property taxes are spendy though, over $2K per year, so that adds almost
>>>> $200/mo right there. They tossed 26 of my cottage style single detached
>>>> homes on little 3900 sq ft. lots, so our cul-de-sac is very busy with all
>>>> of us stacked up right against each other. But, living out west, things
>>>> cost much more, it is shocking actually.
>>>>
>>>> I could've purchased a 100 yr. old home where Heather lives in Ohio with
>>>> about the same size lot for $60K, just to give perspective. The guy who
>>>> got himself into trouble with my house paid $263K for it in 2006 when real
>>>> estate prices were obscene out here. Because he was short selling the
>>>> home, I was able to get it for just $110K in 2011. A house on my street
>>>> has just gone up for sale and they're asking $200K for 3 bedrooms (and
>>>> they are tiny), 2 baths with one car detached garage. So, if I need to
>>>> sell, I should still be able to make a little.
>>>>
>>>> Thought I should explain my monthly payment since I was saying I didn't
>>>> think the $600/mo. seemed like enough.
>>>>
>>>> From: Thomas McMahan <shadowmonstrosity@xxxxxxx>
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Sent: Thursday, March 12, 2015 9:23 AM
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> Oh mine btw was $162, because we’re cheap! *lol*. Then it went down to
>>>> $150 then down to $128, but again we’re cheap and live in a piece of s—
>>>> house, but as Pat used to say, “it’s our piece of S— *lol*.
>>>>
>>>> On Mar 12, 2015, at 10:12 AM, BethAnn LaPresta (Redacted sender
>>>> "bela28_02@xxxxxxxxx" for DMARC) <dmarc-noreply@xxxxxxxxxxxxx> wrote:
>>>>
>>>> I am not sure that $600/month figure is accurate. I just refinanced at
>>>> 3.25% and my payment is $800/mo. (this does include property taxes and
>>>> insurance though).
>>>>
>>>> From: Josh <lawdog911@xxxxxxxxxxx>
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Sent: Thursday, March 12, 2015 4:44 AM
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> Amanda did some figuring using a mortgage calculator online and the
>>>> 120,000 house was going to run us roughly 600 something a month for I want
>>>> to again say it was 1700 sq. ft. We currently live in a 1100 sq. ft.
>>>> apartment and pay 714.00 a month. So, given the differences there and the
>>>> fact that we have nothing to show for it at the end of the year is a
>>>> little much in my book. So, if the 120,000 was going to be 600 something
>>>> it would go to reason that the 112,000 would be less money than that. Now,
>>>> as far as utilities go, Knoxville Utilitiy Board (KUB) will give us high
>>>> and low figures for the last 12 months. The last 12 months is a good thing
>>>> providing there has been someone living in the house, but if the house has
>>>> sat empty then the numbers that KUB quotes are not in the least bit
>>>> accurate. I really like the idea of rolling insurance and taxes into the
>>>> monthly payment so that way at the end of the year or whenever land taxes
>>>> are due we are not hit with a big lump sum of money to pay. Sure it would
>>>> be nice to think that I could just put that money back each month and not
>>>> touch it, but the minute something needs to be paid for guess where the
>>>> land tax money goes that was being put bac into an account. If it is
>>>> figured into the monthly payment then for the most part the majority of it
>>>> will be paid throughout the year. The thing that really sucks is that
>>>> stinking PMI payment each month.
>>>>
>>>>
>>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
>>>> Sent: Thursday, March 12, 2015 4:58 AM
>>>> To: audio-pals@xxxxxxxxxxxxx
>>>> Subject: [audio-pals] Re: Older Houses
>>>>
>>>> I accidentally hit the send before cleaning up that mail darn it.
>>>>
>>>> Here’s another little exercise to work on. Lets say you guys decide to go
>>>> for this house. You should have a ballpark of the monthly payment. Sit
>>>> down and plot out a budget around it on one paper, as well as a list of
>>>> possible repairs to do on another list and their costs. Yes a house
>>>> payment can be cheaper than rent, but their are other realities such as
>>>> the taxes, and insurance. Are you going to escrow your insuranc and tax
>>>> payments into your house payment? Most people do that and it usually
>>>> works out well until they assess your house taxes up and then you have to
>>>> make up the short fall. Of course if they assess them downward you get a
>>>> chunk of money back in the mail like my sister-in-law has done the past
>>>> two years. I didn’t escro my other payments. I deal with insurance as I
>>>> would any other utility, and we would do our taxes on our own. Because of
>>>> that I now pay my insurance once a year and it’s cheaper, and once the
>>>> house was paid for there was less entanglement with the bank. I even
>>>> removed the automatic withdraw for house payment because they double
>>>> dipped us a couple of different months, and didn’t have a very good
>>>> explanation as to why. So it put us into over draw land, which isn’t a
>>>> place you want to be. They did the same to my sis-in-law too and she went
>>>> in and practically threw a fit because she wasn’t working at the time and
>>>> didn’t have income yet. They refunded her money on that one, but as she
>>>> asked them, “now how am I supposed to pay the rest of my bills? You think
>>>> you guys are my only bill to pay?” Banks and their computers can be
>>>> sloppy sometimes.
>>>>
>>>> Now when you do your budget here’s another game to play which may be
>>>> beneficial. Can you run your whole budget on one income? Everybody that
>>>> lives as a couple should do this whether renting or paying for a house.
>>>> Most of us find we can’t, but it is a nice goal. The guy we had going
>>>> along with us to check out houses etc and sort of pointed and guided us
>>>> along through the process gave us that little bit of wisdom. As he said,
>>>> what happens if Pat loses her job and can’t get one very fast? Can you
>>>> live on just your income alone, because if you can get to that point, then
>>>> you can start paying extra against your house on it’s principle and have
>>>> more paid off faster which is good for the credit rating, but if you
>>>> decide to move in 20 years you are carrying less of a load thus will get
>>>> more money back to leverage against your next place should you decide to
>>>> do that. Or you can both pay some extra on house and car, then put the
>>>> rest in the bank against major repairs which are going to come even if you
>>>> buy a house that was built today, in 30 years you will have to had to
>>>> replace things, they just don’t build stuff that good anymore and
>>>> sometimes that includes homes btw.
>>>>
>>>> Lots of decisions, but at least it looks like you guys aren’t just jumping
>>>> right and grabbing what shines in front of you which is good.
>>>>
>>>> Btw, I don’t think our budget is currently within the lowest income level
>>>> of the house here at this time which would be Patti’s income, although
>>>> it’s not way above that amount. It is a good goal to work for actually,
>>>> so we will be able to start seriously working on this place. Get a lot of
>>>> little stuff done over time, then do a loan down the road and fix the
>>>> major stuff such as re doing the roof etc. I don’t think I am going to
>>>> lift the house and work on foundation, but it would be nice to do
>>>> actually.
>>>>
>>>> But it’s a good exercise to do. I would run it on your income Josh
>>>> because it is likely to always be there and Amanda’s income is the
>>>> variable one, it can be lower if she’s out of work, but can also be a lot
>>>> higher should land a great paying job. Drop in everything, credit cards
>>>> the whole deal, then figure out once you get to where you’re going which
>>>> angles to cover and get paid off in the budget.
>>>>
>>>> I am guessing you guys have done some of this already though in preparing
>>>> for checking out the housing market and talking to lenders because they
>>>> are going to do roughly the same thing when checking your credit etc.
>>>> Especially if it’s a conservative bank.
>>>>
>>>> Now I think I’ve completed all I was going to say. Took two e-mails, but
>>>> if I had been able to clean up the other one first it would have fitted
>>>> into one probably *lol*.
>>>>
>>>> Instead you get two.
>>>>
>>>> On Mar 12, 2015, at 3:34 AM, Thomas McMahan <shadowmonstrosity@xxxxxxx>
>>>> wrote:
>>>>
>>>> Wouldn’t worry about a house on market for 5 months. Most around here are
>>>> on a year or so. To many deals fall through each time that happens that
>>>> just adds more time that the house is sitting there. Age, is only a
>>>> problem if the house hasn’t been kept up and modernized over the years.
>>>> There are people who prefer older houses simply because they are more
>>>> solid. The house I live in was placed here in 1922. Yes it came from
>>>> somewhere else. The house next door is older and was also brought in here
>>>> from another place too. Fairly common in a town that springs up by a
>>>> railroad. I wouldn’t worry so much about that as apposed to how it’s
>>>> fundamentally built, there are a lot of newer places that are likely to
>>>> give you just as much trouble if not more.
>>>>
>>>> Any house is going to have ongoing mantainence of some kind. Sided house
>>>> are nice but siding fades over the years for example and eventually would
>>>> need replacing. Wooden houses have their things that have to be done, and
>>>> so would brick, but brick is the best option as far as I’m concerned
>>>> accept maybe when a big earthquake comes, then I would favor a wooden
>>>> house, but what are the chances of that huh?
>>>>
>>>> I don’t know the market down there anymore so don’t know if that is a low
>>>> ball figure on that house or not, but I can tell you it is larger than
>>>> mine is and mine is two stories, but so is it’s price too.
>>>>
>>>> Go through it with a fine tooth comb with the idea of what has to be fixed
>>>> now, and then in the next 5 years and what would be ongoing over the
>>>> years, I don’t think for the long term ongoing it will be much different
>>>> than a 10 year old house verses the 60 year old house, but agin it is a
>>>> matter of what would immediately have to be worked on. When was the house
>>>> last occupied too? A house that hasn’t been occupied for a good while can
>>>> have problems such as drainage because they haven’t been flushed etc. It
>>>> sounds like you already have someone with you who knows how to examine a
>>>> foundation well and give you an idea of what would have to be done and
>>>> when which is good. Same with tuck pointing brick etc.
>>>>
>>>> It may be sitting on market because folks think it’s to high also, but you
>>>> are going to drop in a price and they will take it or leave it, or you
>>>> both the buyer and seller will eventually come up with something in the
>>>> middle, or the seller is going to have an empty house on their hands.
>>>>
>>>> What heating and cooling does it have, and when was it installed too that
>>>> is a factor, a 30 year old furnace is getting kind of old in this part of
>>>> the world, but most of our furnaces are gas and they do have to work
>>>> pretty hard for a good part of the year. Does it have any chimnies, and
>>>> where do they run through the house. Ones that run through centers of
>>>> houses on the surface are nice, but when they have to be worked on they
>>>> are a lot more work. Of course where you live a lot of homes are electric
>>>> heat and electric water heat, which is another thing to add to your check
>>>> list, how old is the water heater and when will you be replacing that. A
>>>> brand new house obviously you would get to wait a while before doing that,
>>>> but chances are you would have to do it eventually, or have your price
>>>> knocked down when you are selling it, or when your descendants are selling
>>>> it. But that goes with any house again.
>>>>
>>>> What neighborhood is it in? How accessible is it to you. Pretend Amanda
>>>> had to leave town for a Month and start your math, what is easy to get to
>>>> via walking etc. Maybe that isn’t a problem for you at this moment, but
>>>> life can always hand you changes, and well, next thing you know, you are
>>>> walking to the grocery store if you know what I mean.
>>>>
>>>> Find out what their highest bills were for each utility in the last year
>>>> it was occupied if you can, you need that in planning a general budget. I
>>>> don’t know your property tax situation anymore, but here they just give an
>>>> estimate from the seller, but the problem is, that if the sell lived in
>>>> the house for a long time you might get a little surprise when the annual
>>>> taxes come. Our’s wasn’t a surprise because the previous owner hadn’t
>>>> lived or owned the house for to long.
>>>>
>>>> So it becomes also a matter of do you get a house that you won’t have to
>>>> do any work or as little work as possible on, verses one that may have to
>>>> have some work done, or one that is a fixer upper. We bought a fixer
>>>> upper, but when we bought it was a seller’s market, it definitely isn’t
>>>> that nowadays, so we went for a house we knew we could likely get. Well
>>>> the trade off is that it’s needed work done on it and still does actually,
>>>> but likely we would at least get some money back when we sell it. Maybe
>>>> not a lot but probably some when all is said and done, and of course the
>>>> sell of this place could be the lverage to getting a better place. It’s
>>>> probably what you parents did, if not them then your grand parents did,
>>>> that is more the normal thing in history. Well up until recently where
>>>> you have people who expect to buy a brand new house that is larger than
>>>> what their parents owned as their first house. Well if it can be swung,
>>>> go for it, but to me it’s a little unrealistic, well to my income level it
>>>> is *lol*.
>>>>
>>>> What appliances are already there, and how quickly do you think you will
>>>> be having to replace say: stove, washer, or more of a bear dishwasher?
>>>> What about cabinetry etc, is Amanda happy with that, having that done can
>>>> also be expensive unless you have someone who works with you to give you a
>>>> break. How much stuff will you guys do on your own for modifications
>>>> verses having to hire outsiders. So yes the advantage of a new place is
>>>> that you won’t have to do that, but I guarantee you will pay up front for
>>>> that, but that is why newer houses don’t stay on market long.
>>>>
>>>> So then it falls back to degree of work and mantainence that has to be
>>>> done.
>>>> On Mar 11, 2015, at 9:41 PM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>>>>
>>>> Hello,
>>>> We are finding tons of older houses that we absolutely love. When I say
>>>> older I am talking 1950’s. I am struggling with this a bit though because
>>>> I am looking ahead, past when I am living there. Or rather to the point
>>>> that I am ready to not live there anymore. So, when I get to the point of
>>>> not wanting to live there anymore it could be 10, 20, 30 or more years
>>>> down the road, but I am sure there will come a time that I am ready to
>>>> move on. If this is not the case and I stay there until I die then it is
>>>> not a concern, However, a 1950 house that I live in for 20 years will then
>>>> be 85 years old. I know the specific house that we are looking at has been
>>>> on the market for right about 5 months. So, what do you all think, do you
>>>> think I would have trouble selling an 85 year old home? It is on the
>>>> market for 5 months at the age of 65 years old. It is right about
>>>> 112,000.00 right now without negotiating a lower price. Do you think I
>>>> would be able to get my money back? If it is not a major concern, the age
>>>> of the house, then I will not let it sway my decision, but taking into
>>>> consideration that it is an all brick rancher with over 1700 sq. ft. and
>>>> it is almost 100,000.00 and still on the market concerns me regardless how
>>>> beautiful the house seems right now.
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>
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