General sold my house and bought another, BIG WIN!

[Rambo John J]

You are probably the riches person on here

I am not sir
I work for myself and run heavy equipment and cut trees down and manly shit like that.
A good living yes, but hard work and not extremely lucrative...I am not rich in the dollars...I am rich in positivity, and that is the way I like it....I do live comfortably though.

There are a few millionaires here for sure, but I am not one of them.
If you hang around long enough you will realize who has the fat stacks around this joint.

 

[Tiiimmmaaayyy]

I would love too! I only charge 187%

Sweet. Charge what you want. I plan to default anyway.

 

[FINGERS]

I am not sir
I work for myself and run heavy equipment and cut trees down and manly shit like that.
A good living yes, but hard work and not extremely lucrative...I am not rich in the dollars...I am rich in positivity, and that is the way I like it....I do live comfortably though.

There are a few millionaires here for sure, but I am not one of them.
If you hang around long enough you will realize who has the fat stacks around this joint.

You seem the richest .and happiest.

For what it's worth.

 

[Rambo John J]

You seem the richest .and happiest.

For what it's worth.

possibly happiest, I smile all day every day.

My dwelling is shit tho...it will be paid off in a year or so...at that point I will tear it down and build a nicer one.
Got a rental that is also shit, when it is paid off will I tear that shit down also.

Basically living in a world of shit houses, and smiling 24/7.

 

[Rambo John J]

this is a fantastic market to buy/sell a house right now. at least where I live

bought a new construction house seven years ago this June for $187K, currently owe $146K. listed for $249.9K. less than 24 hours it had 4 tours setup and the first person who toured made an offer before the other 3 could visit. $248K, they pay closing costs, we include the 7-year-old basic washer/dryer and throw in a $675 home warranty. that was Friday morning to Friday night.

house we liked was put on the market Friday afternoon, we toured it first thing Saturday. made an offer and gave them until that evening to decide, they accepted within a couple of hours. list was $274,900. we offered full price but they pay for the first $2,250 of closing (we expect closing costs to be about $4k total), we have a 13 month home warranty, and they leave their washer and dryer (a $2,500 Bosch set)

we close on both houses on March 27th, our rate is 3.25 on a 30-year conventional, we are putting 20% down.

if you are thinking about selling/buying a house now is the time. rates are crazy low, houses are selling quickly

very cool
enjoy
congrats on the good timing and quick sale

 

[FINGERS]

possibly happiest, I smile all day every day.

My dwelling is shit tho...it will be paid off in a year or so...at that point I will tear it down and build a nicer one.
Got a rental that is also shit, when it is paid off will I tear that shit down also.

Basically living in a world of shit houses, and smiling 24/7.

Richest doesn't mean monetary my friend.

I am... gasp....a socialist

 

[Fan_of_Fanboys]

Well rates dropped over the weekend. 3.125%. So locking that in

 

[Wild]

this is a fantastic market to buy/sell a house right now. at least where I live

bought a new construction house seven years ago this June for $187K, currently owe $146K. listed for $249.9K. less than 24 hours it had 4 tours setup and the first person who toured made an offer before the other 3 could visit. $248K, they pay closing costs, we include the 7-year-old basic washer/dryer and throw in a $675 home warranty. that was Friday morning to Friday night.

house we liked was put on the market Friday afternoon, we toured it first thing Saturday. made an offer and gave them until that evening to decide, they accepted within a couple of hours. list was $274,900. we offered full price but they pay for the first $2,250 of closing (we expect closing costs to be about $4k total), we have a 13 month home warranty, and they leave their washer and dryer (a $2,500 Bosch set)

we close on both houses on March 27th, our rate is 3.25 on a 30-year conventional, we are putting 20% down.

if you are thinking about selling/buying a house now is the time. rates are crazy low, houses are selling quickly

Congrats brother. That's the way it's done right there. We are about to refinance on a 20 yr. These rates are awesome.

 

[Fan_of_Fanboys]

Congrats brother. That's the way it's done right there. We are about to refinance on a 20 yr. These rates are awesome.

Heck yeah!
I was tempted to see if they continue to drop, and they might, but the whole bird in a hand thing. 1/4 of a point saves so much money

 

[Wild]

Heck yeah!
I was tempted to see if they continue to drop, and they might, but the whole bird in a hand thing. 1/4 of a point saves so much money

Agreed. We're going to be able to go from a 30 yr to a 20 yr with virtually the same monthly payment. Can't beat that.

 

[Fan_of_Fanboys]

Agreed. We're going to be able to go from a 30 yr to a 20 yr with virtually the same monthly payment. Can't beat that.

Heck no. I spent some time today playing around with an amortization chart and impact of $10/month, $1,000/year, etc extra payments and the impact on interests paid and life of loan. I can only speak for myself but I think so many people don't realize how much the little things matter. Whether it is a fraction of a percentage point or $50 extra a month. In your case saving YEARS without a mortgage. The impact on your retirement or financial freedom for vacations. It's immense

 

[Rambo John J]

Congrats brother. That's the way it's done right there. We are about to refinance on a 20 yr. These rates are awesome.

yep
we bumped to a 15 yr
8 years ago

good move

30 year is crazy talk, that is a long ass time

 

[Fan_of_Fanboys]

yep
we bumped to a 15 yr
8 years ago

good move

30 year is crazy talk, that is a long ass time

At 3.125 and 20% down we feel pretty good about it. Especially with the ability to pay extra each month to principle. Almost zero percent chance I'm there long enough to pay it off. But I totally get why people wouldn't go 30.

 

[Rambo John J]

At 3.125 and 20% down we feel pretty good about it. Especially with the ability to pay extra each month to principle. Almost zero percent chance I'm there long enough to pay it off. But I totally get why people wouldn't go 30.

Not saying 30 is crazy...but it is just a long time
always chipping in some extra can make a 30 a 15

 

[Wild]

At 3.125 and 20% down we feel pretty good about it. Especially with the ability to pay extra each month to principle. Almost zero percent chance I'm there long enough to pay it off. But I totally get why people wouldn't go 30.

I'm 48 yrs old. I assume you're probably in your 30's? Huge difference. I need to get mine paid off by the time I want to retire, at 65. You have 30 more yrs, and statistics say you'll probably move again. You have plenty of time.

 

[Fan_of_Fanboys]

I'm 48 yrs old. I assume you're probably in your 30's? Huge difference. I need to get mine paid off by the time I want to retire, at 65. You have 30 more yrs, and statistics say you'll probably move again. You have plenty of time.

34
First was at 23. The Obama $8k credit.
I do hope to stay here for quite awhile. And bought one that we would happy with forever if needed. Would probably only move to Maine, which is my long term goal

 

[Wild]

34
First was at 23. The Obama $8k credit.
I do hope to stay here for quite awhile. And bought one that we would happy with forever if needed. Would probably only move to Maine, which is my long term goal

You'll move at least one more time lol. Would almost guarantee it. And that's not a bad thing. Make some improvements that will increase value, while paying down equity. Sell, profit, put 20% down on the next one, rinse & repeat...until you settle into your forever home. We're in ours now, but our journey was nearly identical to yours.

 

[Rambo John J]

We settled into your forever home. We're in ours now, but our journey was nearly identical to yours.

You'll move at least one more time lol. Would almost guarantee it. And that's not a bad thing. Make some improvements that will increase value, while paying down equity. Sell, profit, put 20% down on the next one, rinse & repeat.

 

[Fan_of_Fanboys]

You'll move at least one more time lol. Would almost guarantee it. And that's not a bad thing. Make some improvements that will increase value, while paying down equity. Sell, profit, put 20% down on the next one, rinse & repeat...until you settle into your forever home. We're in ours now, but our journey was nearly identical to yours.

if I was to make a bet I would 100% agree with you

big difference between potential long term plan in mid-30s and reality 10+ years later lol

 

[Fan_of_Fanboys]

you are thinking about selling/buying a house now is the time. rates are crazy low, houses are selling quickly

I hope y'all listened to me in March 2020

 

[2oldguy]

We sold at the height of the Covid nonsense, house was overpriced and people still bid 50 grand over list - it sold in a weekend - can’t complain - we rented for a year and found a new place that we quite like - mortgage free!

 

[vad]

We sold at the height of the Covid nonsense, house was overpriced and people still bid 50 grand over list - it sold in a weekend - can’t complain - we rented for a year and found a new place that we quite like - mortgage free!

We were in a starter home, good rate and all but the house was starting to show its age. We had already taken a HELOC to fix a leaky tub and many other things were starting to fall apart. Sold it for almost double what we paid and bought new construction, still at a good rate. I still know the neighbors and after we moved the HVAC went out, the shed out back collapsed, the deck was falling apart, and a whole list of other things. Poor fucks. While my mortgage payment went up, I think we saved money month to month with not having to sink in a fuck ton of cash into an aging home.