Please tell me about the new Pembroke Pines...

[namomof3]

I will get my soapbox now (I have many) LOL!

[Shoegal1075]

Originally Posted by namomof3

I will get my soapbox now (I have many) LOL!

Stop it - no soapbox! Fauve is a very smart woman who I respect. I'm sure she knows where we are coming from with our mind frame. That being said, I think she is probably right - there are less swindlers and more heart wrenching stories than can be imagined! And thank god for the "less swindlers" part because we would be in a lot of trouble! This coming from a person who still leaves my purse open on my desk - terrible habit! But I'm not a thief so, I would never think someone is out to steal from me. Yes, can you believe it born and raised in NY and I still see the best in people LOL.

[fauve]

Originally Posted by namomof3

This is exactly my point- just said better. I have all the compassion for people who have lost jobs, and have situations like that. However- I cannot feel any pity for people who take out home equity loans to buy a nicer car, to pay off maxed out credit cards because they didn't have self control. etc. etc. Yes there are situations that are beyond one's control but we do have control over the amount of "home" we need, the type ofcar we drive, the "toys" we "need" to make us feel worthy. Don'tget me wrong, I wear my coach purse proudly and I like nice things (it's human nature) but there is a line between feeling good and pure gluttony (sp).

Okay, one last point about this and I'll get off my soapbox, lol. Let's say you were the buyer of my house in 2004. He saw his house rise in value 50% (by $200,000) in less than 2 years. He decides (this is true) to get an equity loan to redo the 1970's era floors, bathrooms and kitchen. While he's at it (this is speculation), he decides to pay for his next car with equity funds so he'll save on interest and get the tax deduction. He spends about $100,000, still leaving himself a 20% cushion between the mortgaged amount and the value. Is he really that all irresponsible or greedy? And then to add insult to injury, the banks kick him out and sell the house to me (all fixed up) for $250K, a mortgage amount he could probably have figured out.

(Then there are all the people who paid for their kids' college using equity loans because of the lower interest, the tax deduction and because the stock market was rocking and rolling, or paid for health care, paid off high interest credit cards, paid for a spouse to stay home with the baby, etc).

So let me add the government as another enabler - for giving mortgage interest deductions on equity loans, making equity loans more attractive than any other kind of credit card or loan debt.

[namomof3]

WOW fauve I don't have an answer that is very analytical. I am speaking from whatI have seen people do with my own eyes-- take out home equity loans to buy a cadillac escalade, buying a 300k home right out of college expecting parents to bail them out in a pinch only to find out they wont, knowingly looking athomes that are out of their means but feel they are entitled to them because they have a sense of entitlement (example, my "parents" did it so can I). There are educated people who don't have anounce of common sense- PERIOD. This is not 1952 where dad works 9-5, mom stays home with 2 kids and they own 1 home for 30 years, take 2 vacations etc. etc. You gotta work hard to play hard. Don't even get me started on the work ethic of today's generation-- I'll have to find a different forum for that!



This entire generation needs a paradigm shift in their thinking- it's a different world than it was for mom and dad- you gotta sink or swim (or hope you come across someone that will save your A** before it's too late).
On a side note- I have been told by people close to me that my expectation of others is WAY too high. (and here I thought I was an open-minded girl) LOL

[fauve]

Originally Posted by MisterNY

Now, that's a good deal. I thought you were renting, now. Good for you, Fauve. Is your tax assessment reflective of the $250k price?

Was going to rent and then we found this deal. Not sure about tax assessment yet - we'll know for sure in June. Supposedly, Parrish is saying it will.

I read you loud and clear about these exceptions, but Fauve

, we also have to look at the irresponsible people who knew darn well they could not afford to buy the $400k+ house making the same salary they made when the same house was at $250k two years prior.

Actually the house sold previously for $310,000 in 1999, so a $410K price tag 5 years later wasn't out of line - esp if you had just sold a house reflecting that same price gain.

I think some people thought they'd never be able to afford a house

to begin with, but realized better late than never. Some bought out of desperation, thinking house values would continue to skyrocket, or worse stabilize.

That might be true for $100K houses, but not $400K houses - these weren't starter homes.

I (and most of us) know of people who abused the system as well, trying to be homeowner and landlord, knowing there was no way on Earth they could pay for the house, should anything go wrong. I have no pity for those. Plan accordingly, and respect your budget/salaries.

Like any other business. People take risks. Sometimes the force is with you, sometimes it's not.

I have no problems with people making a profit, but no pity for the flippers who kept pushing house prices to keep ticking upward, thinking it would never end, and got stuck with 3 or 4 houses .

These guys were the first ones to flee the market. You can continue to hate on them because they sold their extra houses to the unsuspecting buyer in 2007.

Again, we the home buyers dictate the market (be it a buyer or seller's market). It is our decision to buy, or not to buy. But we got suckered in the last 8 years to think these properties were going to keep going up. Plenty fell for the scam. I feel for them.

Let's not forget the homeowners who kept pulling out money for nonsense they knew darn well they didn't need. A neighbor who foreclosed on his houses a few years ago purchased a boat, jetskis, motorcycles, two SUVS and countless other things, he knew darn well he could not afford, or be approved for by applying for these items one by one. He foreclosed on both houses. Why should I feel any compassion for his greed, or lack of self-control?

Those are the people, I have absolutely ZERO pity for.

I also think, one of the reasons the Banks are also holding out these days, is because of people who took out these second mortgages to fund things that had nothing to do with their houses. Again, no pity.

Another thing that bothers me is the neighborhoods/residents that have to deal with the irresponsible homeowners mentioned above, and trashed homes that are affecting their property/neigborhood values.

See my post above.

As far as trashing homes, they dont do it because they're evil. They do it because they dont want to put any more money into a house they've already lost everything on...

[Shoegal1075]

Told ya she is smart - LOL!

[fauve]

lol, thanks Chelsa...mostly not so much smart as old, haha

[Shoegal1075]

Originally Posted by fauve

lol, thanks Chelsa...mostly not so much smart as old, haha

My love, you are hardly old - to me you are a wealth of knowledge!

[fauve]

Originally Posted by Chelsa1075

My love, you are hardly old - to me you are a wealth of knowledge!

Nice - TY!