[audio-pals] Re: Older Houses
- From: Thomas McMahan <shadowmonstrosity@xxxxxxx>
- To: audio-pals@xxxxxxxxxxxxx
- Date: Fri, 13 Mar 2015 10:54:22 -0500
Well first she has to come back into audio-pals land.
Text her and ask her if her ears are burning today? Or at least ringing a lot
since she’s being talked about well written about anyway.
> On Mar 13, 2015, at 10:37 AM, Josh <lawdog911@xxxxxxxxxxx> wrote:
>
> This will definitely be interesting… Tom vs. Amanda *LOL*. How much are the
> tickets?
>
> From: audio-pals-bounce@xxxxxxxxxxxxx
> <mailto:audio-pals-bounce@xxxxxxxxxxxxx>
> [mailto:audio-pals-bounce@xxxxxxxxxxxxx
> <mailto:audio-pals-bounce@xxxxxxxxxxxxx>] On Behalf Of BethAnn LaPresta
> (Redacted sender "bela28_02@xxxxxxxxx <mailto:bela28_02@xxxxxxxxx>" for DMARC)
> Sent: Friday, March 13, 2015 11:15 AM
> To: audio-pals@xxxxxxxxxxxxx <mailto:audio-pals@xxxxxxxxxxxxx>
> Subject: [audio-pals] Re: Older Houses
>
> Cue Rocky music here folks...maybe I'll be the one selling the tickets this
> time there Joshie!
>
> From: Thomas McMahan <shadowmonstrosity@xxxxxxx
> <mailto:shadowmonstrosity@xxxxxxx>>
> To: audio-pals@xxxxxxxxxxxxx <mailto:audio-pals@xxxxxxxxxxxxx>
> Sent: Friday, March 13, 2015 8:01 AM
> 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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