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Old 12-29-2014, 03:21 PM
 
56,335 posts, read 80,579,507 times
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Quote:
Originally Posted by VintageSunlight View Post
Seriously? That's the equivalent home? Try again.

$7,292 a year in taxes too. Geez.

Or not drive more, since Wake Forest is as far from built-up areas as Greece is. But nice try.
Look at the monthly payments and the Greece home had more square footage and slightly more land. You do realize that Greece touches Rochester. So, much of it would be within city limits if Rochester was a Southern metro.

Also, the taxes listed many times are before or without STAR. So, they may be a little bit lower and the max STAR exemption is $721 for Greece/Greece SD. There is still a good $114-115,000 difference in home price too.

I noticed that the Wake Forest home is very close to other homes as well.

All weather tires would suffice up here.

Last edited by ckhthankgod; 12-29-2014 at 03:44 PM..
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Old 12-29-2014, 03:25 PM
 
56,335 posts, read 80,579,507 times
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Quote:
Originally Posted by AJNEOA View Post
Yeah, I believe in buying a house as a home not as an investment, but blindly buying in a far flung exurb among a flurry of new housing seems risky to me. Places like Vegas, NOVA, etc. really suffered from this last bust and I'm sure it's not the last time by any means.
I'm with you. If I moved Down South, I probably would go with an outer city or first ring suburb, given the difference in terms of city limits and my current situation.

Last edited by ckhthankgod; 12-29-2014 at 03:47 PM..
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Old 12-29-2014, 03:50 PM
 
Location: Deep in the Woods
2,549 posts, read 2,667,397 times
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Quote:
Originally Posted by ckhthankgod View Post
Look at the monthly payments and the Greece home had more square footage and slightly more land. You do realize that Greece touches Rochester. So, much of it would be within city limits if Rochester was a Southern metro.

Also, the taxes listed many times are before or without STAR. So, they may be a little bit lower and the max STAR exemption is $721 for Greece/Greece SD. There is still a good $114-115,000 difference in home price too.

I noticed that the Wake Forest home is very close to other homes as well.

All weather tires would suffice up here.
Wake Forest touches Raleigh as well. Its not a far flung suburb. Angier is considered a far flung suburb.

The monthly payment on that 1970's Brady Bunch house is almost as much as the Wake Forest house with taxes included. Are you honestly saying that you'd prefer the home in Greece?! That's a serious question.

The 115k difference is nearly equivalent to the home price. With taxes, your money is gone. With equity, you pay and get the money back when you sell. That's a huge difference.

One will sell for $140k in 10 years, the other for $300k when all is paid off. The $300k house will need less, and have $300k in equity, the Rochester Brady Bunch house will be falling over, and you'll owe $10k in taxes in 10 years.

Think about it...
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Old 12-29-2014, 04:25 PM
 
56,335 posts, read 80,579,507 times
Reputation: 12439
Quote:
Originally Posted by VintageSunlight View Post
Wake Forest touches Raleigh as well. Its not a far flung suburb. Angier is considered a far flung suburb.

The monthly payment on that 1970's Brady Bunch house is almost as much as the Wake Forest house with taxes included. Are you honestly saying that you'd prefer the home in Greece?! That's a serious question.

The 115k difference is nearly equivalent to the home price. With taxes, your money is gone. With equity, you pay and get the money back when you sell. That's a huge difference.

One will sell for $140k in 10 years, the other for $300k when all is paid off. The $300k house will need less, and have $300k in equity, the Rochester Brady Bunch house will be falling over, and you'll owe $10k in taxes in 10 years.

Think about it...
Wrong.....It was built in 1987 and keep in mind that Rochester is only 36 square miles, while Raleigh is 143 square miles and sprawls its limits to the north. Wake Forest would be a second or third ring suburb in the Rochester area. Greece also has about 96,000 people and there is shopping on Ridge Road.

Also, Raleigh would/may be more prone to booms and busts, given its fast growth and the monthly payment for the Greece home is still about $150 less a month. This is for a bigger home and yard.

20% down on the Greece home is about 27-28,000, while it is about 50,000 for the Wake Forest home.

Last edited by ckhthankgod; 12-29-2014 at 04:58 PM..
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Old 12-29-2014, 04:28 PM
 
1,206 posts, read 906,977 times
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Quote:
Originally Posted by VintageSunlight View Post
Wake Forest touches Raleigh as well. Its not a far flung suburb. Angier is considered a far flung suburb.

The monthly payment on that 1970's Brady Bunch house is almost as much as the Wake Forest house with taxes included. Are you honestly saying that you'd prefer the home in Greece?! That's a serious question.

The 115k difference is nearly equivalent to the home price. With taxes, your money is gone. With equity, you pay and get the money back when you sell. That's a huge difference.

One will sell for $140k in 10 years, the other for $300k when all is paid off. The $300k house will need less, and have $300k in equity, the Rochester Brady Bunch house will be falling over, and you'll owe $10k in taxes in 10 years.

Think about it...

Here you go...brand spanking home in Greece built in 2014 for 167,400.

51 Rangers Court, Greece, NY 14612

So this home is 10 years newer than your listed home and is 75 grand less.

Oh and your claim that you'll pay $1,300 is an assumption. You pay the asessed value in taxes. Here is a post from a Realtor in Wake Forest who stated that the taxes on a house listed for 262,000 was $3,319.

Home Buying: What is the property tax rates in Dansforth, Wake Forest, NC ? Thanks - Trulia Voices

I highly doubt you'll pay $1300 for a home in Wake Forest listed at over 250 grand.
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Old 12-29-2014, 07:47 PM
 
Location: Rochester NY (western NY)
1,021 posts, read 1,612,429 times
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Lol, the taxes on that Rangers Court home are going to be upwards of 7 grand before STAR, which would still only knock it down by another $700-800, which is only ~$65/month. New homes in new developments in Greece right now are getting absolutely raped by taxes.
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Old 12-29-2014, 09:03 PM
 
Location: Deep in the Woods
2,549 posts, read 2,667,397 times
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Quote:
Originally Posted by db2797 View Post
Here you go...brand spanking home in Greece built in 2014 for 167,400.

51 Rangers Court, Greece, NY 14612

So this home is 10 years newer than your listed home and is 75 grand less.

Oh and your claim that you'll pay $1,300 is an assumption. You pay the asessed value in taxes. Here is a post from a Realtor in Wake Forest who stated that the taxes on a house listed for 262,000 was $3,319.

Home Buying: What is the property tax rates in Dansforth, Wake Forest, NC ? Thanks - Trulia Voices

I highly doubt you'll pay $1300 for a home in Wake Forest listed at over 250 grand.
Not an assumption on the Wake Forest house- I took the real actual taxes and divided the yearly amount by 12. What you are posting here are OPINIONS of other people. The actual cost of that Wake Forest house is $1303 a month using current interest rates and 20% down.

Even you can't believe it.

$75 grand less will be way more than eaten up by the $750 a month in taxes you'll be paying to live in that house.
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Old 12-29-2014, 09:18 PM
 
Location: Deep in the Woods
2,549 posts, read 2,667,397 times
Reputation: 2855
Quote:
Originally Posted by ckhthankgod View Post
Wrong.....It was built in 1987 and keep in mind that Rochester is only 36 square miles, while Raleigh is 143 square miles and sprawls its limits to the north. Wake Forest would be a second or third ring suburb in the Rochester area. Greece also has about 96,000 people and there is shopping on Ridge Road.

Also, Raleigh would/may be more prone to booms and busts, given its fast growth and the monthly payment for the Greece home is still about $150 less a month. This is for a bigger home and yard.

20% down on the Greece home is about 27-28,000, while it is about 50,000 for the Wake Forest home.
Rochester and Syracuse are in a perennial bust. Where is the upside? You're really scraping the bottom of the barrel to come up with something here.

Also, I'm not saying you need to buy a $250k house. Plenty of cheaper homes are out there too. For example, this is all the house I'd ever need:

http://www.realtor.com/realestateand...7_M52236-58728

$800 a month with taxes, same as the taxes alone on some homes up there.
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Old 12-29-2014, 09:34 PM
 
1,206 posts, read 906,977 times
Reputation: 2041
Quote:
Originally Posted by VintageSunlight View Post
Not an assumption on the Wake Forest house- I took the real actual taxes and divided the yearly amount by 12. What you are posting here are OPINIONS of other people. The actual cost of that Wake Forest house is $1303 a month using current interest rates and 20% down.

Even you can't believe it.

$75 grand less will be way more than eaten up by the $750 a month in taxes you'll be paying to live in that house.
Oh the mortgage amount of $1,303 including taxes is believable. I thought you were saying the taxes on the house you listed were $1,303 a year.

Ok the house I listed is $ 1,178 a month using current interest rates and 20% down and using the current tax rates in Greece.
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Old 12-29-2014, 09:45 PM
 
1,206 posts, read 906,977 times
Reputation: 2041
Quote:
Originally Posted by VintageSunlight View Post
Rochester and Syracuse are in a perennial bust. Where is the upside? You're really scraping the bottom of the barrel to come up with something here.

Also, I'm not saying you need to buy a $250k house. Plenty of cheaper homes are out there too. For example, this is all the house I'd ever need:

http://www.realtor.com/realestateand...7_M52236-58728

$800 a month with taxes, same as the taxes alone on some homes up there.
Or you could just get this in Rochester. A nice home built in 1996 vs the 1990 home you listed and this is 110,000. Also 800 a month with taxes.
http://www.nothnagle.com/Properties/...S=19&M=R262312
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