[audio-pals] Re: Older Houses

  • From: Thomas McMahan <shadowmonstrosity@xxxxxxx>
  • To: audio-pals@xxxxxxxxxxxxx
  • Date: Fri, 13 Mar 2015 10:49:55 -0500

Go for it, lets see if we can get her going.  

> On Mar 13, 2015, at 10:33 AM, Josh <lawdog911@xxxxxxxxxxx> wrote:
> 
> I will tell her that in a later email you mentioned accidentally switching 
> mine and her name around *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 11:01 AM
> To: audio-pals@xxxxxxxxxxxxx <mailto:audio-pals@xxxxxxxxxxxxx>
> Subject: [audio-pals] Re: Older Houses
>  
> Go for it.  
>  
> I still keep original copies, it will be interesting to see what she says.  
> She actually may agree with it.  Or maybe not.  
>  
>> On Mar 13, 2015, at 9:00 AM, Josh <lawdog911@xxxxxxxxxxx 
>> <mailto:lawdog911@xxxxxxxxxxx>> wrote:
>>  
>> I’m going to have to tell Amanda you called her salty *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 9:18 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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