[audio-pals] Re: Older Houses
- From: Thomas McMahan <thomas.mcmahan@xxxxxxx>
- To: audio-pals@xxxxxxxxxxxxx
- Date: Fri, 13 Mar 2015 09:56:40 -0500
Till wind carry the hail into the carport that is, but you all don’t have as
much wind as up here. Don’t find many carports here actually, probably for the
same reason, don’t want a wind to rip it all down and part of your house too.
I heard our house that we built in Tennessee was up for sell a while back, it
had the garage under the house, but you would be over in Blount County then
East of Maryville for a few miles. It may have been sold by now though likely.
Yep consider all options while you can, you don’t want buyer’s remorse.
> On Mar 13, 2015, at 8:44 AM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>
> Well, perhaps the difference in me preferring a attached garage if I am going
> to have a garage is because growing up all we had was a carport. A carport is
> a lot cheaprer and still protects from hail damage. So, if I am going to have
> more than a carport then I want it to be attached, but that is one of those
> things that if the house is right then the other things may be able to be
> negotiated.
>
> 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: Friday, March 13, 2015 9:18 AM
> To: audio-pals@xxxxxxxxxxxxx <mailto:audio-pals@xxxxxxxxxxxxx>
> Subject: [audio-pals] Re: Older Houses
>
> I think a garage is for storing your car away whether you get wet in the
> process of getting inside or not. They are very handy up here whether
> attached or detached. We have neither, it’s hard on a car sitting outside
> all winter up here, shortens battery life at least, not good for the belts
> either.
>
> Maybe Danny will let you park the car in his tree, but maybe then again you
> won’t like to do that because he might drive it around and thats kind of
> scary.
>
> At this point i would consider all options attached is best but if the place
> is good enough a little rain once in a while on you won’t melt you. Maybe
> Amanda but not you, salt just lumps up with a little water thats all *lol*.
> On Mar 13, 2015, at 7:40 AM, Josh <lawdog911@xxxxxxxxxxx
> <mailto:lawdog911@xxxxxxxxxxx>> wrote:
>>
>> 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>
>> [mailto: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 <mailto: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 <mailto:bela28_02@xxxxxxxxx>" for DMARC)
>>> <dmarc-noreply@xxxxxxxxxxxxx <mailto:dmarc-noreply@xxxxxxxxxxxxx>> wrote:
>>>
>>> Actually for $120K, he could probably buy an entire block in Chicago...
>>>
>>> From: Thomas McMahan <thomas.mcmahan@xxxxxxx
>>> <mailto:thomas.mcmahan@xxxxxxx>>
>>> To: audio-pals@xxxxxxxxxxxxx <mailto: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 <mailto:bela28_02@xxxxxxxxx>" for DMARC)
>>>> <dmarc-noreply@xxxxxxxxxxxxx <mailto: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
>>>> <mailto:shadowmonstrosity@xxxxxxx>>
>>>> To: audio-pals@xxxxxxxxxxxxx <mailto: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 <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.
>>>>>>>
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