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Location: San Luis Obispo and Santa Barbara Counties
6,390 posts, read 9,686,006 times
Reputation: 2622
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Quote:
Originally Posted by TNEC_Dad
null may play the lotto but I hope not unless it is for entertainment and not a financial solution.
You seem perversely interested in trying to prove people are wrong.
Why do you do this?
The function of my original post was to show that a home can purchased in California.
I showed that.
What more do you want?
What is your motivation to return again and again and again make rude comments each time?
What are your goals and objectives?
I cannot imagine a happy and contented person who claims to be a Christian would act in such an un-Christ-like manner.
I can imagine an unhappy, discontented, person unfamiliar with the teachings of Christ doing as you are doing.
Consider exactly what you are doing, remember that by claiming to be a Christian you then become a witness for Christ in every thing that you do.
Here: $500,000 @ 4% 30 years fixed is:
$2387.08 per month
add T&I ... equals? About $2800 give or take $100 depending on area tax rates.
Now who, earning $10K a month doesn't have sufficient deductions to keep at least 80% of that?
Comes to? 35% of take home.
Fact is right now, rates are as much as a full 1% lower than 4%, (that's 3% for your challenged mind) ... making it even more doable.
Quote:
Originally Posted by TNEC_Dad
After tax, a CA annual salary of $120k equates to $8k per month.
In addition to the monthly mortgage of $2,700, there is the monthly home owners insurance (cheapest from a list) of $40 and property tax (from actual CA home for sale in Fresno) of $500. Add another $300 for HOA, repairs and maintenence, and additional utilities.
Again, 45% of take home income is not reasonably affordable for the average person.
Sir ... As I challenged you repeatedly before: Go. Run. The. Industry. Calculators.
Now, also, go back and read the payment I quoted @4% on a $500,000 mortgage ...
it is: $2387.08 per month
not your "$2700"
$2700 a month would include payment with T&I in many locations
Furthermore, rates are now available @ 3% a month ... where the payment would be $2108.02
which is *calculator keys clacking* ----- $279.06 even less.
Now you are adding HOA dues, utilities, and maintenance?
Nuh-uh sir ... that's called fudging.
Most people don't even have HOA dues.
Utilities are an entirely separate, and separately controllable on an individual basis, issue. Just ask Fontucky how much he pays for utilities.
Maintenance? D.I.Y. and scrounge. Hell, I the last house I BUILT, from scratch (it's a nice little rental cottage for two), for under $30,000 including granite counters, double French glass entry doors, all thermopane windows and doors, laminate flooring, all plumbing fixtures, wiring, roofing ... some salvage materials, some new. Want to be a homeowner on a tight budget? Learn a screwdriver from a hammer and get to work with your pencil and square.
Reading and comprehension skills are valuable as well.
Sir ... As I challenged you repeatedly before: Go. Run. The. Industry. Calculators.
Now, also, go back and read the payment I quoted @4% on a $500,000 mortgage ...
it is: $2387.08 per month
not your "$2700"
$2700 a month would include payment with T&I in many locations
Furthermore, rates are now available @ 3% a month ... where the payment would be $2108.02
which is *calculator keys clacking* ----- $279.06 even less.
Now you are adding HOA dues, utilities, and maintenance?
Nuh-uh sir ... that's called fudging.
Most people don't even have HOA dues.
Utilities are an entirely separate, and separately controllable on an individual basis, issue. Just ask Fontucky how much he pays for utilities.
Maintenance? D.I.Y. and scrounge. Hell, I the last house I BUILT, from scratch (it's a nice little rental cottage for two), for under $30,000 including granite counters, double French glass entry doors, all thermopane windows and doors, laminate flooring, all plumbing fixtures, wiring, roofing ... some salvage materials, some new. Want to be a homeowner on a tight budget? Learn a screwdriver from a hammer and get to work with your pencil and square.
Reading and comprehension skills are valuable as well.
Not sure about taxes. In Riverside County, not the most expensive County, I paid over $3500.00 a year on a $230,000.00 home (Year 2000 price). I did not pay taxes as part of my payment but wrote a check at the end of the year.
Sir ... As I challenged you repeatedly before: Go. Run. The. Industry. Calculators.
Now, also, go back and read the payment I quoted @4% on a $500,000 mortgage ... it is: $2387.08 per month not your "$2700"
$2700 a month would include payment with T&I in many locations
Furthermore, rates are now available @ 3% a month ... where the payment would be $2108.02 which is *calculator keys clacking* ----- $279.06 even less.
Now you are adding HOA dues, utilities, and maintenance?
Nuh-uh sir ... that's called fudging.
Most people don't even have HOA dues.
Utilities are an entirely separate, and separately controllable on an individual basis, issue. Just ask Fontucky how much he pays for utilities.
Maintenance? D.I.Y. and scrounge. Hell, I the last house I BUILT, from scratch (it's a nice little rental cottage for two), for under $30,000 including granite counters, double French glass entry doors, all thermopane windows and doors, laminate flooring, all plumbing fixtures, wiring, roofing ... some salvage materials, some new. Want to be a homeowner on a tight budget? Learn a screwdriver from a hammer and get to work with your pencil and square.
Reading and comprehension skills are valuable as well.
Perhaps you should read the original post i responded to so that you can get the numbers straight. The post refered to 5%.
Adding related cost to home ownership is called reality. Reality may be fudging in your world.
Again, you can try to squirm around but the fact remains that buying a $500,000 house with a $120,000 salary as presented in that post is not prudent for the average couple.
You seem perversely interested in trying to prove people are wrong.
Why do you do this?
The function of my original post was to show that a home can purchased in California.
I showed that.
What more do you want?
What is your motivation to return again and again and again make rude comments each time?
What are your goals and objectives?
I cannot imagine a happy and contented person who claims to be a Christian would act in such an un-Christ-like manner.
I can imagine an unhappy, discontented, person unfamiliar with the teachings of Christ doing as you are doing.
Consider exactly what you are doing, remember that by claiming to be a Christian you then become a witness for Christ in every thing that you do.
Sorry, but pointing out that the numbers don't work is not a personal judgement.
Now, after unable to address that, you seem to want to address Christianity. There is a group of threads related to that in the religion section.
You seem confused about what discussion involves. Things such as interaction. You seem to dislike interaction other than affirmation to your ego. We all enjoy that but discussion between adults sometimes involves different views and sometimes even dispute. Please don't take it personal if I disagree with you.
Perhaps you should read the original post i responded to so that you can get the numbers straight. The post refered to 5%.
Adding related cost to home ownership is called reality. Reality may be fudging in your world.
Again, you can try to squirm around but the fact remains that buying a $500,000 house with a $120,000 salary is not prudent for the average couple.
Sir, you are dancing ... but with two left feet wearing two right shoes.
You made a declaration that home ownership of a $500,000 house on a $120,000 salary is not realistic, possible, prudent. You have been shown otherwise. With facts and figures straight from the industry. You, on the other hand, have backed up nothing. In fact, you just made up a false payment number of $2700 to try and fit your position. Why use a 5% rate when 3% is available? Hell man, I gave you 4% to work with ... and we haven't even factored in what the payment would be with down payments of 4% or 10%, let alone 20% on a $500,000 home ... how many gimme's do you expect to get that favor your false declaration?
You talk about "reality". Here's "reality" for you:
$500,000 less 10% down = $450,000 at best rateof 3% (hell, the buyers are earning $120,000 in a tough economy which is higher than the combined household income of 85% of the nation according to user_id's claims ... with 10% down they'd get best rate unless they screwed their credit previously.)
$1897.22 base monthly payment on 30 year fixed.
you want higher taxes, as expatCA suggests? Fine.
Call taxes $7K a year / 12 = $583 monthly
Throw in another $50 a month for insurance.
Total monthly payment = $2530.22
I just showed you reality on HOA, maintenance, and utilities was bunk.
Your whole premise is bunk.
Sir, you are dancing ... but with two left feet wearing two right shoes.
You made a declaration that home ownership of a $500,000 on a $120,000 salary is not realistic, possible, prudent. You have been shown otherwise. With facts and figures straight from the industry. You, on the other hand, have backed up nothing. In fact, you just made up a false payment number of $2700 to try and fit your position. Why use a 5% rate when 3% is available? Hell man, I gave you 4% to work with ... and we haven't even factored in what the payment would be with down payments of 4% or 10%, let alone 20% on a $500,000 home ... how many gimme's do you expect to get that favor your false declaration?
You talk about "reality". Here's "reality" for you:
$500,000 less 10% down = $450,000 at best rateof 3% (hell, the buyers are earning $120,000 in a tough economy which is higher than the combined household income of 85% of the nation according to user_id's claims ... with 10% down they'd get best rate unless they screwed their credit previously.)
$1897.22 base monthly payment on 30 year fixed.
you want higher taxes, as expatCA suggests? Fine. Call taxes $7K a year / 12 = $583 monthly
Throw in another $50 a month for insurance.
Total monthly payment = $2530.22
I just showed you reality on HOA, maintenance, and utilities was bunk.
Your whole premise is bunk.
Too funny. If the room is spinning, it is you, and not the room.
Again, you are changing the situation. While doing so, why not make the down payment a little higher, increase the salary, and throw in a pool because, hey, its CA.
I truely hate to see you digress like this.
It is obvious that you feel the need to address my posts, even when they are not addressed to you, for reasons you only know. If I have offended you, I appologize. I hope your day is a good one.
Too funny. If the room is spinning, it is you, and not the room.
Again, you are changing the situation. While doing so, why not make the down payment a little higher, increase the salary, and throw in a pool because, hey, its CA.
I truely hate to see you digress like this.
It is obvious that you feel the need to address my posts, even when they are not addressed to you, for reasons you only know. If I have offended you, I appologize. I hope your day is a good one.
If ole null can come up with some more down payment (he's still adjusting the numbers), I may have to get the tennins court put in as well. Are Tuesday nights good for some tennis?
Too funny. If the room is spinning, it is you, and not the room.
Again, you are changing the situation. While doing so, why not make the down payment a little higher, increase the salary, and throw in a pool because, hey, its CA.
I truely hate to see you digress like this.
It is obvious that you feel the need to address my posts, even when they are not addressed to you, for reasons you only know. If I have offended you, I appologize. I hope your day is a good one.
As I keep saying: go back read the posts. But you don't. You just keep on trying to cover your tracks with misstatements, moved goalposts, and false accusations and deflections.
I have printed out the scenarios, using industry statistics and standards.
They are in your face.
You do not respond to those realities.
I printed out the scenarios using zero down payment ...
You declared a higher interest rate than is in place in the market.
I point this out ... you declare I am changing the situation.
Yes, because your "situation" is wrong, false, phoney ... get it?
I gave several different scenarios that cover the range of today's possibilities ...
every one of them realistic ,
every one of them proves you wrong.
You have ignored every one of them.
Now you declare I am addressing your posts which are not addressed to me?
Two things, sir
1. this is an open forum ... this is what people do ... I read bullsh*t ... sometimes I respond.
2. many of your posts do in fact address me specifically ... as anyone can plainly see by the fact you quote me and speak directly to my comments
You don't offend me. You amuse me. I am toying with you.
You don't apologize. You are disingenuous -- at best.
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