jtval 0 #1 March 23, 2008 Holy fucking mother of fucking God. What a headache. While I'm at it, who else wants money? I may as well give away the rest of what I have. The HOA is a fucking mandatory rape crime. They want 1596/year to pay for my water and sewage. (There has GOT to be more bonuses but I havent read the covenants yet.) That 133 month payment could go towards so many other things. They want more than the gov't does for taxes.(1220/year) I should be able to afford it but I'll be house broke for a while until all my bonuses kick in. (or I'll have to scale down my investments) Shit, If I were married the military would give me more money to live. Who wants to get married out of convenience?My photos My Videos Quote Share this post Link to post Share on other sites
NWFlyer 2 #2 March 23, 2008 I managed accounts for our four-unit townhouse association for a few years. Our water and sewer bills averaged $300/month for all four units (two units are 3 BR 2 1/2 BA units, two are 2 BR 1 1/2 BA units). So if you figure $75-100/month, that $133 is a bit higher, but may merely reflect a difference in your local market cost for water and sewer services. Quite possibly not that far out of line, and may include other HOA services. If $133 is your total monthly HOA dues, that's actually quite low. If it's just for water and sewer, be sure to evaluate the dues payment separately against what is covered in the dues payment. Typically HOA dues cover different stuff like maintenance on common areas, reserves for repairs/replacement of common areas, insurance on common areas, etc."There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences." -P.J. O'Rourke Quote Share this post Link to post Share on other sites
jtval 0 #3 March 23, 2008 Thanks Yea, I figured about the same figure for the water if I were to pay on my own. There is a rec center that we can use. Though at this point, I can only assume that the HOA covers the usages etc. If I actually buy this house I'll be getting about $30,000 in equity as soon as I close. Its a foreclosure. I the only VISIBLE repair that I see is the carpet.(and paint but that's expected) I'll obviously have the place inspected before I sign the papers. I am hoping that there is no major issues.My photos My Videos Quote Share this post Link to post Share on other sites
jtval 0 #4 March 23, 2008 oh yea, If all is good, I'll be geting a 2209 sq.ft. home for the same price that the 1000 sq.ft. houses are going for.My photos My Videos Quote Share this post Link to post Share on other sites
AggieDave 6 #5 March 23, 2008 Its the biggest purchase of your life and once its all done and the pain of the process goes away, you'll be very happy. Before that, though, you'll hate life, you'll hate realitors, you'll HATE your bank and it'll be everything you can do to not toss a couple of flash bangs and run for the hills. Trust me, once you're done, you're moved in and you start to make the place your own, you'll be really happy. In order of big money spent and the largest pain in the ass you could go through: 1. Buying a house 2. Buying a car 3. Ordering a simple coffee at Starbucks --"When I die, may I be surrounded by scattered chrome and burning gasoline." Quote Share this post Link to post Share on other sites
wojoe 0 #6 March 23, 2008 3. Ordering a simple coffee at Starbucks Ain't that the truth!!! Quote Share this post Link to post Share on other sites
jtval 0 #7 March 23, 2008 Quote 3. Ordering a simple coffee at Starbucks NO such thing! I know what you mean about hating everyone. I do. I decided to take some money out of my IRA to pay down the laon so I can get the monthly bills to an affordable level. Once I get settled and gather my mind I will work on repaying it. I'd like to shott the whole fucking system. They (gov't) rapes the fuck out of us. If I took out a 14700 loan (very cheap) at current rates I would pay MORE in interest then I would on the inital loan, the fucking scumbags. 178836 in interest I'm on the verge of just taking what I want and daring anyone to come get it back.My photos My Videos Quote Share this post Link to post Share on other sites
ryoder 1,590 #8 March 23, 2008 Quote The HOA is a fucking mandatory rape crime. They want 1596/year to pay for my water and sewage. Just say "No" to any property that has an HOA. My total water & sewer for 2007 was $301.47."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
jtval 0 #9 March 23, 2008 THe Dude doesnt shower? LOLMy photos My Videos Quote Share this post Link to post Share on other sites
billvon 3,121 #10 March 24, 2008 >I would pay MORE in interest then I would on the inital loan, the fucking scumbags. So don't get the house. If it's going to make you that mad, it's not worth it. >I'm on the verge of just taking what I want and daring anyone to come get it back. That generally doesn't turn out well. Quote Share this post Link to post Share on other sites
AggieDave 6 #11 March 24, 2008 It all depends on the HOA. My HOA is actually pretty cool, its really cheap, we have the use of the community pool and they don't come around with a tape measure checking your lawn. There are many that remind me of Pol Pot's "administration."--"When I die, may I be surrounded by scattered chrome and burning gasoline." Quote Share this post Link to post Share on other sites
ryoder 1,590 #12 March 24, 2008 Quote It all depends on the HOA. My HOA is actually pretty cool, its really cheap, we have the use of the community pool and they don't come around with a tape measure checking your lawn. There are many that remind me of Pol Pot's "administration." Rent the X Files DVD containing the episode titled "Arcadia". Mulder & Scully go undercover to investigate the disappearances of entire families in an upperclass community with an HOA. It not only satirizes HOA's but when Mulder introduces himself and Scully as "Mr and Mrs Rob Petrie", I nearly spit a perfectly good Guinness all over my carpeting."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
jtval 0 #13 March 24, 2008 Ive still got to read the convenants. I am hoping they arent a bunch of nazi's. That would make me walk away.My photos My Videos Quote Share this post Link to post Share on other sites
jtval 0 #14 March 24, 2008 Yea I hear you. I'll be here for at least years and this will hopefully prove to be a fruitful investment. I'm buying low and hoping to sell high. in 5 years.My photos My Videos Quote Share this post Link to post Share on other sites
PhreeZone 20 #15 March 24, 2008 The real estate market is not set to do a turn around in that short of a 5 year peroid. Seriously sit down with a financial advisor to see if now is the right time to buy or not if you know you will be selling in 5 years. There is a really good chance that if the markets continue to fall and correct themselves your $30,000 of equity will evaperate and you will have no equity at all. The old formula was about 5 years in 1 spot was the break even point over renting when you figure in the taxes, the maintiance, the fees at selling, etc. I heard on one of those financial shows on TV they are now saying in some spots its a 7-10 year break even point unless the markets do a sudden 180 but that is not going to happen for a lot of reasons. I bought 3 years ago and its going to take me another 2-3 years to reach that break even point and thats after doing a lot of upgrades to the house to boost its value.Yesterday is history And tomorrow is a mystery Parachutemanuals.com Quote Share this post Link to post Share on other sites
BillyVance 35 #16 March 24, 2008 Quote Quote The HOA is a fucking mandatory rape crime. They want 1596/year to pay for my water and sewage. Just say "No" to any property that has an HOA. My total water & sewer for 2007 was $301.47. That sounds pretty good. Mine was between $400 and $450. I'm in a small town, but I'm damn glad not to be living 30 miles west in Birmingham where they're getting raped in the ass because the sewer authority fucked up big time financially. "Mediocre people don't like high achievers, and high achievers don't like mediocre people." - SIX TIME National Champion coach Nick Saban Quote Share this post Link to post Share on other sites
Misternatural 0 #17 March 24, 2008 Yes, What you said, however market conditions are highly localized-What goes for FL and CA does not hold up for lets say Boston or NYC. Most of the analysts though agree that a house is generally not a good investment by its own merit for speculation purposes so it's best to do some upgrades and repairs and enjoy living in it at least for a while.Beware of the collateralizing and monetization of your desires. D S #3.1415 Quote Share this post Link to post Share on other sites
jtval 0 #18 March 24, 2008 I took that advice when I live in vegas for 5 years. My friend didn't. He sold his house and make appro 100,000 profit. I gave 75000 to my landlord.!My photos My Videos Quote Share this post Link to post Share on other sites
Misternatural 0 #19 March 24, 2008 Timing....Good timing on his part. There's lots of people now who are drowning in the negative equity trap because of the fucked up loans they got talked into. Chances are you'll be safe from that now that Bear Stearns got burned at the stake - the lenders are now skeered straight.Beware of the collateralizing and monetization of your desires. D S #3.1415 Quote Share this post Link to post Share on other sites
jtval 0 #20 March 24, 2008 I barely heard o fthe bear sterns ordeal as I have been traveling and not getting the news lately. I heard they crumbled and sold for pennies on the dollar, yea?My photos My Videos Quote Share this post Link to post Share on other sites
Misternatural 0 #21 March 24, 2008 The Fed had them sacrificed for the greater good, at least the stock market was happy. But it was kind of tragic for the employees, their fierce competitor Leahman Bros took them over for $2 a share....Wall St can be wicked brutal! edit oops, JP Morgan Chase bought Bear, Lehman may be nextBeware of the collateralizing and monetization of your desires. D S #3.1415 Quote Share this post Link to post Share on other sites
jtval 0 #22 March 24, 2008 werent they upto 80/share?My photos My Videos Quote Share this post Link to post Share on other sites
ryoder 1,590 #23 March 24, 2008 Quote That sounds pretty good. Mine was between $400 and $450. I'm in a small town, but I'm damn glad not to be living 30 miles west in Birmingham where they're getting raped in the ass because the sewer authority fucked up big time financially. Only one person lives in my house. IIRC, you have at least three."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
Misternatural 0 #24 March 24, 2008 Yeah up around 90 a share before the poop hit the wind tunnel, one of the oldest brokerage firms....wham in a matter of weeks... anyway this is supposed to be good news for the rest of us as it gives an indication that the Fed has some control over a domino effect in the financials by weeding out the bad apples and providing some liquidity which keeps the gears of the system greased. So it bodes well for you all looking to jump into an investment like a house.at least for now... lets see what happens this week with Lehman Beware of the collateralizing and monetization of your desires. D S #3.1415 Quote Share this post Link to post Share on other sites
jtval 0 #25 March 24, 2008 Is lehman another situation where the rates should drop? This makes it seem like Lehman will do ok. Unless it's another inflated numbers scandal.My photos My Videos Quote Share this post Link to post Share on other sites
