Probably at least 900 per, I think it will b more though. Reclaiming a house in bankruptcy isn’t cheap well house and car. Although that is easier on the rest of us than moving her, that would be a nightmare in itself with all that stuff in there, then there’s all the animals, umm, no thanks. She has to stay there and out live most of those animals *lol*. > On Mar 13, 2015, at 7:47 AM, Josh <lawdog911@xxxxxxxxxxx> wrote: > > So, is she looking at going up to 10.00 or 11.00 a month? I think I could > afford 10 or 11 dollars a month *LOL*. > > From: audio-pals-bounce@xxxxxxxxxxxxx > <mailto:audio-pals-bounce@xxxxxxxxxxxxx> > [mailto:audio-pals-bounce@xxxxxxxxxxxxx > <mailto:audio-pals-bounce@xxxxxxxxxxxxx>] On Behalf Of Thomas McMahan > Sent: Thursday, March 12, 2015 12:21 PM > To: audio-pals@xxxxxxxxxxxxx <mailto:audio-pals@xxxxxxxxxxxxx> > Subject: [audio-pals] Re: Older Houses > > I think my neighbor’s which is Patti’s mother that her house is around 6.40 > per month. That is going to change though, but that is all her own fault. > >> On Mar 12, 2015, at 10:12 AM, BethAnn LaPresta (Redacted sender >> "bela28_02@xxxxxxxxx <mailto:bela28_02@xxxxxxxxx>" for DMARC) >> <dmarc-noreply@xxxxxxxxxxxxx <mailto: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 <mailto:lawdog911@xxxxxxxxxxx>> >> To: audio-pals@xxxxxxxxxxxxx <mailto: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> >> [mailto: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 <mailto: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 >>> <mailto: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 >>>> <mailto: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.