Yeah And I don’t think she would sell on dollars against her hundreds *lol*. For some reason she likes that big monstrosity of a house over there. > On Mar 13, 2015, at 8:46 AM, Josh <lawdog911@xxxxxxxxxxx> wrote: > > Oh we are talking hundreds, I thought we were talking dollars *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: Friday, March 13, 2015 9:24 AM > To: audio-pals@xxxxxxxxxxxxx <mailto:audio-pals@xxxxxxxxxxxxx> > Subject: [audio-pals] Re: Older Houses > > 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 >> <mailto: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.