Shamoozal.com - Smorgas Board

cuz its the worst fucking thing in the world.

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if you have a dick, it will eat it off into a vagina. if you have a vagina, it will make you grow a dick. thats how awful it is.

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Explain

if you've ever had the distinct displeasure of buying/selling property, you know what i mean. its fucking criminal.

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You trying to sell right now?

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My parents invested in a property, sold it just in time to make about 600 bucks on a 700,000 lot hahaha, it's worth like 200,000 now.

JW, yeah this summer im moving in with my girlfriend. however, i currently own a one bedroom condo so we cant go there. renting it will not cover the mortgage, and selling it means ill be loosing signifigant money invested. and its like, what if i continue to hold on to it. will its value just continue to decrease?

bottom line, this fucking economy sucks cocks. im glad that the fucking crooks involved with the housing bubble are all making out just fine with their fucking government bailouts. meanwhile, im eating my shirt. the fuckers.

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im in the same boat. I had a bunch of foreclosures and short sales on my street and it tanked the whole street. my house has lost about 20-30% of its original value and i have put like 15k into it, so yeah it sucks total ass.

I am staying in it for now..but i decided to refinance at a lower rate to drop my monthly payment so I could rent if I wanted to. Check with your lender, there is this "making homes affordable" program they are offering. it doesn't require an appraisal so even if your mortgage is more than your homes worth you get approved. plus it makes closing costs a bit lower and you can just roll that into the refi. but it has to be through your original lender and they have to offer it. rates look down today, so its a good time to lock it in.

im with you, even if i get out of this house, i dont know if i want to do this again. but then again, paying rent is like throwing money in the toilet. basically you are fucked either way.

yeah it just throwing money into a toilet no matter how you look at it. i fucking hate it.

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Are home is worth shit compared to what we paid for it. It's depressing, but we don't plan on going anywhere for a long while.

yeah, i was wanting to move really bad because my neighbors are all fukin renters now. which basically means they don't take care of the house and are generally of the slimy variety. i should have really thought about possible repercussions of moving into a neighborhood with older people. I liked it cause it was quiet and they left me alone..but then they started dropping like flies and their kids either couldn't afford the mortgage and let it get foreclosed or they short sale the property. leaving me fucked. plus the fact i bought close to the height of the bubble doesn't help either. you know who i really hate? the people who bought after the burst and got like thousands of dollars form the government for buying homes. Such horseshit..how about a tax credit for those of us who got raped by the bubble?

Yeah, I do feel for everyone... I sort of lucked out in that with the market tanking, I didn't buy a home when I was going to (since I would have taken a huge beating on my investments had I dumped them to get the capital needed for the house). I'm really close to doing so now though. I don't think the market is going to get a whole lot worse (or better) for a while (unless the banks just finally say "F it", and dump all the houses the foreclosed on and have been sitting on into the market, which will drop prices that much more, but finally clear the market of all the fears of all those foreclosed homes sitting in limbo, which would hopefully let the market correct itself quicker).


There is a place I have been eyeing the last few weeks since it went on the market. And its just down the street from Phil's, but on the West Deptford/Therofare side of the road.

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a guy bought the house next to me for 50k less than I bought mine for. Sure the house was not in the same shape as mine and wasn't updated at all, but man..that just raped my property value.

Yeah, that is one thing that sucks. If the house was built by the same guys at about the same time as yours, and in the same neighbourhood, even if your had the entire insides completely gutted and redone, your value will still take a huge hit when someone just dumps their home like that.

Well, I am looking at a different place now. The one I had been considering has way too much work that needs to be done to it. I have a question into another realtor about a home they have on the market (they didn't list what the heating/ac was on the property, and with it being an older house (built 1911), the heat/ac is sort of a deal breaker for me, or at least a major cost factor). That said the place looks awesome. Great architecture, good solid brick construction, recently re-done full basement. It has a lot of good personality since they paid attention to details in the place (moldings, archways, etc).

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yeah, they were both built at the same time, same footprint, older houses, 1970's. i will end up renting it out. even though i really don't want to.

if it is just the system being dated, depending on your location you can find people to replace for not too much. when i say not too much, i mean less than 4-5k. But you could easily just knock that much off the asking price for that reason. although if it doesnt have central heat/air at all, thats a pass for sure. good luck with it.

irate, thats what i decided to so. i have a tennant who is going to rent my place form me. of course, i cant ask for the amount of rent to cover my costs so i'm still paying the balance every month. still my monthly expenses will a little cheaper as my half of the new rent combined with the balance of the mortage is still cheaper by a few bucks from what im used to paying.

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yeah, im just glad i got my refi when the rates took a dump a month ago, so i dropped my rate 1.25% and my monthly payment $150 without increasing my term. Although, some of the closing shit pissed me off. Like I had more than enough in my current escro to cover the first years insurance and taxes, but instead of just using that money for that, they used it to pay down the first mortgage, then lumped the first year of tax and insurance into the new loan. It only ended up to where it maybe raised my monthly payment $10, but it still pissed me off. The mortgage industry is crooked and I hate it.

everything about realtors is crooked. i just had my new tennant and her realtor here tonightt o sign the lease. there was a section in there about if i wanted to possibly sell my tennant my apartment, then weichart would get their commission. but you know what? fuck that horseshit. if i want to sell my place and my tennant wants to buy it from me after the lease is up, they can go fuck themselves. needless to say, i am trying to change that clause in the lease.

word of advice to anyone out there. though they act as if they are realtors are NOT your friends. they will fuck you in the ass the momment they can.

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oh yeah, realtors are just used car salesmen who do less for more money. stick it to em frank.

So I am ready to gtfo out of my house. Stupid since I just built a 600 sq ft deck, but idc. I am tired of spending money on a house that is never going to be recouped. This was meant to be a starter home and I feel like I have already been in it too long. So because the housing market sucks, I am faced with 2 choices, rent my house out and worry about 2 mortgages, or sell it at an extremely discounted rate and walk away with a pretty huge loss. The loss wouldn't be such an awful thing, because the investment potential of the place I would be buying would more then make up for it.. because they would be dealing with the same thing. Basically I would be losing about 40k I have invested in the property and they would be losing out on more then 100k.

I don't want to do the typical sell my house and then scramble to find a place to buy before I close strategy. I feel like that would put me into a place that wasn't exactly what I wanted. So I am just going to search and then if I find one that is right, put in an offer and then put my place on the market, first for sale and then for rent if I get no interest. Houses in my neighborhood for rent only stay vacant like a month tops. They go real fast and rent for about $300 more a month than my mortgage. I have enough saved for 10% down on the new place and almost a years worth of mortgage payments on the old one. Based on the numbers I make enough to cover both for a longer term as well, should that be necessary.

People seem to do this all the time, but I feel a little stupid doing it. But I am just ready to get into a place that I can customize the way I want, without worrying about getting that money back. But I know that it would be hard for me being a landlord if I was forced to rent.. the knowledge of someone fucking up my investment would make me lose sleep and I would probably be a wreck. But it is a very real possibility that will be my only choice since the market is such a crap hole right now and I can't walk away with nothing. Am I stupid for following this strategy? Should I just say fuck it and stay where I am? Decisions like this make me want to puke.

You should move here.



Then you won't have to deal with anything.

Housing prices will probably fall lower so if you are looking to buy, you may want to wait a few more months. It doesn't appear there will be any sustained recovery in housing until mid 2012 at this point. An article you may want to read:

http://www.rew-online.com/2011/05/31/do ... es-tumble/

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thanks man. I will take a look. the flip side is that also means it will be more difficult to sell as well. right now comps in my neighborhood are holding at a point where I could still walk away with some cash in hand. I am worried if I wait I will be doomed to rent no matter what.

plus i would be ok if what i bought took a bit of a hit next year, simply because I actually plan on staying there for a long period of time. but yeah, shit changes a lot in a few months. it honestly at this point depends on whether i can find the right deal and the right house. if I don't find the right house, im not buying shit.

that would be awesome. i could ride polar bears instead of your mom. they are pretty much the same size and smell, so it wouldn't be much of an adjustment at all. good lookin out man.

ahahahahahahahahaha