|
08-16-2006, 07:47 AM
|
|
Sunshine And Palm Trees
|
|
Join Date: Mar 2006
Location: Minnesota
5,258 posts, read 1,867,916 times
Reputation: 7860
|
|
|
like home depot..yep that was 1 of them I closed. No interest for 12 months and they accrue the interest and after 12 months if you still have any balance they got ya.
|
|
08-16-2006, 07:51 AM
|
|
Member
|
|
Join Date: Aug 2006
Location: Va. Beach (but not for long)
15 posts, read 24,199 times
Reputation: 11
|
|
So the fact that as of TODAY I am officially DEBT FREE can be seen as a bad thing? Guess I need to carry a small balance on a card while we're looking to buy in a couple of months.  |
|
08-16-2006, 07:52 AM
|
|
Member
|
|
Join Date: Jul 2006
19 posts, read 16,774 times
Reputation: 16
|
|
Thanks for replying to what was asked
Quote:
Originally Posted by cltsig
Getting back to the title of this thread, I just recently sold my house in Pasco county north of St. Pete. Here are the stats:
-paid roughly 250k for it in early 2004
-original listing in 02/2006 (2 year capital gain point) was for 407k. Pie in the sky, but what the heck. We based this on what was for sale, not what has sold lately.
-April-ish lowered to 389k. A few showings, nothing to speak of.
-May-ish lowered to 375k. A few showings, nothing to speak of.
June - received offer for 365k and we pay up to 14k of closing costs. We countered at 369/14k and it went under contract. It closed in July with us paying 11k in closing, not the original 14, so we received about 100k over what we paid 2 years ago. Not too shabby!
Our mindset was "Well, we're still coming out ahead by quite a bit and it's tax free." instead of "We just lost 40k by not getting 400k, so now we can't buy that new BMW". Readjust, lower your price to early last year's price and it will sell. Pricing is the biggest thing. Our house was also extremely clean, landscaped and marketed well.
|
GREAT that it sold and thanks for getting back to what was asked, it seems that this thread went off key to debate the real estate market instead of the simple question that was asked. Trying to find out how many other people are going through the same problems.
|
|
08-16-2006, 07:53 AM
|
|
Sunshine And Palm Trees
|
|
Join Date: Mar 2006
Location: Minnesota
5,258 posts, read 1,867,916 times
Reputation: 7860
|
|
|
And some cc companies dont report your whole available credit line and this will hurt you too.I have that with one of my cards,I really should have that fixed.
|
|
08-16-2006, 07:55 AM
|
|
Sunshine And Palm Trees
|
|
Join Date: Mar 2006
Location: Minnesota
5,258 posts, read 1,867,916 times
Reputation: 7860
|
|
Quote:
|
So the fact that as of TODAY I am officially DEBT FREE can be seen as a bad thing? Guess I need to carry a small balance on a card while we're looking to buy in a couple of months.
|
I heard this before too. |
|
08-16-2006, 07:57 AM
|
|
Sunshine And Palm Trees
|
|
Join Date: Mar 2006
Location: Minnesota
5,258 posts, read 1,867,916 times
Reputation: 7860
|
|
oops
Quote:
|
GREAT that it sold and thanks for getting back to what was asked, it seems that this thread went off key to debate the real estate market instead of the simple question that was asked. Trying to find out how many other people are going through the same problems.
|
sorry phinsfan my bad |
|
08-16-2006, 07:59 AM
|
|
Member
|
|
Join Date: Jul 2006
19 posts, read 16,774 times
Reputation: 16
|
|
Quote:
Originally Posted by mystree66
sorry phinsfan my bad
|
That's OK threads always go off on there own at some point or another this ones just gone wild  |
|
08-16-2006, 10:13 AM
|
|
One Ostrich at a time....
|
|
Join Date: Jun 2006
1,843 posts, read 1,537,433 times
Reputation: 407
|
|
Quote:
Originally Posted by Dee2e
Actually, you need total combined monthly income of about $75000 for a $250000 loan and you could get 100% financing with good credit.
|
Yes...but why would anyone go with 100% financing right now with the way home prices are going? Sorry, but I think that is bad advice...especially if it's a first time buyer.
Quote:
Originally Posted by mystree66
But you would probably be stuck with a predatory loan or an ARM that you may not be able to afford later and possibly have trouble refinancing later.
Way to risky to buy too much house imho. Then throw high property taxes and high insurances on top of it..ouch.
7500 a month is 90000/yr and if your credit is good enough,so yeah firemans pretty close.
|
My sentiments exactly mystreet!!
Last edited by markablue; 08-16-2006 at 10:38 AM..
|
|
08-16-2006, 10:58 AM
|
|
Moderator
|
|
Join Date: Mar 2006
Location: So. Dak.
13,375 posts, read 9,703,761 times
Reputation: 13880
|
|
CC Debt
Quote:
Originally Posted by 2fla
So the fact that as of TODAY I am officially DEBT FREE can be seen as a bad thing? Guess I need to carry a small balance on a card while we're looking to buy in a couple of months. |
2Fla. I don't think the fact that you have no credit card debt will have an adverse effect on your home loan. We have one credit card and use it frequently. At the end of the month, we pay the total amount that we owe in order to avoid the tremendously high interest rates. Our credit rating is good. It's always good to have a credit card or two or even take out a car loan, even if you could pay it off right away. You get a good credit rating just for the fact that they know your active, pay your bills on time, etc. Try the link that someone else posted. I'll bet your rating is very good. |
|
08-16-2006, 09:50 PM
|
|
Senior Member
|
|
Join Date: Jun 2006
Location: Central Florida
759 posts, read 768,204 times
Reputation: 218
|
|
Quote:
Originally Posted by shannon94
Yes...but why would anyone go with 100% financing right now with the way home prices are going? Sorry, but I think that is bad advice...especially if it's a first time buyer.
|
Even when times are good, I never recommend 100% financing. That doesn't mean it's not available. |
Please register to post and access all features of our very popular forum. It is free and quick.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
Linear Mode
