[audio-pals] Re: Older Houses
- From: Thomas McMahan <shadowmonstrosity@xxxxxxx>
- To: audio-pals@xxxxxxxxxxxxx
- Date: Fri, 13 Mar 2015 10:03:51 -0500
I think he’s already doing it, and it sounds like squirrels chattering.
> On Mar 13, 2015, at 9:08 AM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>
> Why not do as one of my philosophy professors did and create your own
> language complete with new alphabet.
>
> -----Original Message-----
> From: audio-pals-bounce@xxxxxxxxxxxxx
> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
> Sent: Friday, March 13, 2015 9:10 AM
> To: audio-pals@xxxxxxxxxxxxx
> Subject: [audio-pals] Re: Older Houses
>
> I don't think the term elderly is exactly a new term in the English language
> come to think of it.
>
> Why not use the term youngerly? You could invent a whole new term. Why be
> happy with just chocolate sponge when there's a whole language you can
> modify?
>
>
>> On Mar 13, 2015, at 7:36 AM, Daniel Crone <averagegrabbag@xxxxxxxxx>
> wrote:
>>
>> Just curious as to why the term, elderly, is used, rather than old.
>> After all, people in their 20's are not said to be youngerrly.
>> I think it is fear of aging, and maybe fear of death that causes some to
> do that.
>> On Mar 12, 2015, at 8:24 PM, "Josh" <lawdog911@xxxxxxxxxxx> wrote:
>>
>>> Well. Tennessee does have a tax break for elderly, disabled, and disabled
> veteran home owners. The reimbursement or payment is 145.00. The relief goes
> on to define further who is approved under the "disabled" or "disabled
> veterans". I found it slightly comical that one of the qualifying events to
> get your tax break is "Killed in Action". I am not sure that the individual
> who died tragically in action will be worried about getting their tax break
> on their property. Another thing that Tennessee offer is freezing property
> taxes for the elderly. However, I do not qualify for any of it. In order to
> qualify for the elderly status I need to be 65, so that one is out. Then for
> all of them there are income requirements. We exceed the allowed amounts.
> Thank you for letting me know about this though. I wonder if Amanda could
> get a tax break for raising her two kids (i.e. me and Little Man *LOL*).
>
>>>
>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
>>> Sent: Thursday, March 12, 2015 4:47 PM
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> Or do a search for tax breaks for disabled citizens Tennessee. Remember
> Homesteader's Act as far as I know is an Illinois thing, and if you search
> with that term it may bog you down in Springfield, and you don't want to be
> there *lol*. I don't think there was a Federal version, but maybe Tennessee
> has a similar thing. Don't know.
>>>
>>> I suppose you could search with term Homesteader's Act Tennessee and see
> if anything relevant comes up. But I doubt it, if there's such a thing
> there, it's likely another name.
>>>
>>>
>>> On Mar 12, 2015, at 3:37 PM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>>>
>>> I wil have to call tomorrow to check on that Home Steaders Act. I may be
> able to find something online regarding this if I dig around on the city and
> county websites. I know that they freeze taxes for senior citizens. Well, I
> am off to study for a quiz that I can hopefully take tonight before bed.
>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of Thomas McMahan
>>> Sent: Thursday, March 12, 2015 4:16 PM
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> Yes. I am suspicious about this too even if they are 2014's taxes and
> 2013'2 taxes and 2014's are due this year like here, why are they two years
> behind, and is the mortgage behind too?
>>>
>>> Yep better do some digging on this one.
>>>
>>> Also Josh, check with your State here in Illinois they have what is
> called Homesteader's Act, which reduces property taxes for people with
> disabilities. It's not a big reduction, but any reduction helps. Here it's
> done through the County. We got Pat's sister in on that too since she draws
> SSDI. Maybe your State doesn't have this though, but might want to check
> and see.
>>>
>>> On Mar 12, 2015, at 2:56 PM, BethAnn LaPresta (Redacted sender
> "bela28_02@xxxxxxxxx" for DMARC) <dmarc-noreply@xxxxxxxxxxxxx> wrote:
>>>
>>> This would HAVE to be disclosed to you by the sellers at the time you
> placed an offer (if you were going to). When the agent selling a home takes
> the listing, they usually "open" title with a title company that would spell
> all of that out. So, everyone should be very aware of this...if your agent
> isn't yet and you are interested, I would ask her. This becomes a
> negotiating point. The seller is required to sell you a home with a clear
> title, if the city and/or county has placed a lien on the property (or
> anyone else for that matter), this would be something that you must insist
> is paid up before closing. It may also be something that you negotiate in
> as far as you guys may be willing to pay the back taxes, but it will come
> out of the proceeds of the house. Honestly, this one sounds a little
> scary...why are they behind? Is the mortgage also behind? Are they in
> foreclosure yet with the lender? Are they going to do a short sale? Lots
> of questions if you're really interested.
>>>
>>> From: Josh <lawdog911@xxxxxxxxxxx>
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Sent: Thursday, March 12, 2015 12:22 PM
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> Hey this may be a question that you can answer here, I was doing some
> rsearch on the property that Amanda and I are potentially interested in.
> Well, I called the city tax office and found out that this property has both
> city and county taxes which I already knew. However, I also found out that
> they are upside down in their taxes. I found out the property owners are two
> years delinquent on their taxes at both the city office and the county
> office. The city office mentioned that I would want to go through a title
> company to purchase this property. I do not know why the title company was
> recommended though. Do you have any knowledge regarding properties that are
> delinquent on their taxes and up for sale?
>>>
>>>
>>>
>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of BethAnn
>>> LaPresta (Redacted sender "bela28_02@xxxxxxxxx" for DMARC)
>>> Sent: Thursday, March 12, 2015 3:01 PM
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> I found a 3% down program in 2011---you had to have a 680 credit score or
> better at that time through my credit union. A true conventional loan is
> 20% down, but there are exceptions depending on your bank. There are also a
> lot of low down payment options for first time home buyers, so it's good to
> check around.
>>>
>>> From: Josh <lawdog911@xxxxxxxxxxx>
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Sent: Thursday, March 12, 2015 11:45 AM
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> That sounds about right, since the lender has only talked about that
> option. However, if we end up getting a house that is around 100 K then we
> may be able to do conventional. Conventional requires what 10% down or 5%
> down?
>>>
>>>
>>> From: audio-pals-bounce@xxxxxxxxxxxxx
>>> [mailto:audio-pals-bounce@xxxxxxxxxxxxx] On Behalf Of BethAnn
>>> LaPresta (Redacted sender "bela28_02@xxxxxxxxx" for DMARC)
>>> Sent: Thursday, March 12, 2015 11:11 AM
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> I am fairly certain that with an FHA loan, you will have the taxes and
> insurance in your monthly payment already.
>>>
>>> From: Josh <lawdog911@xxxxxxxxxxx>
>>> To: audio-pals@xxxxxxxxxxxxx
>>> Sent: Thursday, March 12, 2015 3:40 AM
>>> Subject: [audio-pals] Re: Older Houses
>>>
>>> Well, before we decide that any house is the house we want, we make sure
> that we can afford it with the rest of our bills. As far as escroe goes we
> have not discussed that so that is something that we will have to discuss as
> the time draws near. As I read on down through your email it appears that we
> have discussed the whole escroe aspect. We definitely have had each payment
> considered with tax and insurance in mind with the payment.
>>>
>>>
>>> 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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