Woodland Homes

[tammie2]

Originally Posted by HB2HSV

Also, nationwide I think there's another wave of subprime adjustable mortgages are about to reset in 2011. I think Charles showed the chart before.

Agreed, if you read the mortgage forum on any given day there are people still asking about foreclosures, shortsales, modifications, and the like. Nationally I don't think we are out of crisis yet(not even close), locally I don't know what the contributing factors will be, so far things have stayed fairly consistent with the standard ebb and flow of a RE market.

If you ever want to see a town that was reliant upon one industry that went down, see Beaver Falls, PA, it is the most depressing place I have ever visited, it is like time stopped and left these people, it almost reminded me of a third world nation(with a few upgrades, like plumbing and electricity). It is an old steel town relying on Babcocks & Wilcox as the major and US Steel as the minor. From WWII until the 80's it was a happening place with free flowing funds(B&W was doing some exciting things for a bit-nuculear, hydro, etc), the general labor was even making enough to support a family with "extras," and now the median income is $26K/yr. That could be us, we never know. Do I see it as likely? no. But the possibility is greater anytime an area is reliant upon one sector/business.

However, we all still need a place to live. Chris had some major concerns about buying with the current state of things(that engineer thinking and rethinking and then analyzing again ). My point was this, we need a place to live, we need a quality of life, we went FHA to have the option of an assumable mortgage(which could help minimize losses in the future if predictions of interest rate hikes come to fruition). Everything in life is a gamble, but if you plan on staying put for awhile, paper losses don't really mean much(because you still needed a place to live at the time you moved in)-and you can only do so much to keep yourself out of harms way no matter what you do.

[LCTMadison]

Look, alot of these markets that are suffering experienced tremendous housing bubbles...we never did. Yes, 2006-2007 were GREAT times for sellers, and prices have dropped ever so slightly from then, but we still never saw that HUGE false appreciation in property values like so many other markets did.

How's this for numbers...my house in Florida appreciated for $289k in April 2005, up from the $150k we had in it when we built it just a year prior. I sold it in 2006 for $236k. It is on the market right now, and has been for the past year and a half for .....$145k. OUCH. OUCH. OUCH.
And that is not uncommon there. It is really sad to see how the homeowners there have suffered. Really, we should all be thankful and feel very blessed that our market is so stable.

[HB2HSV]

Originally Posted by tammie2

However, we all still need a place to live. Chris had some major concerns about buying with the current state of things(that engineer thinking and rethinking and then analyzing again ).

So, a studio apartment and eating instant noodles & spams was out of question?

One company town is bad. At Boeing, they had a saying in Seattle "When Boeing sneezes, Seattle catches cold". It's much better since then, with Microsoft in town, etc.

[tammie2]

Originally Posted by HB2HSV

So, a studio apartment and eating instant noodles & spams was out of question?

Not that he didn't try to convince me it would be a great life My argument on that one was to think of the medical savings we would realize as we would be tripping over the children and pets.

I don't think he thought I was completely correct until we decended on the small apartment that he had shared with the kitties for the last year, Oy. We were all there 3-1/2 weeks before we closed on the house. It is one thing to fantasize about a smaller place for cost savings, it is another all together to actually live with it.

Luckily with the noodles and spam I do the shopping and cooking, or that might just be the menu, but you forgot the potatoes and rice to round things out.

[madraofthree]

I am a Jeff Benton homeowner and I didn't feel like I bought a "stripped down" house. Instead, I liked that I got to choose what I wanted in my home and I loved going to the design studio to pick my colors and add the extras that I wanted. Jeff Benton had everything priced so I knew right away what my bottom line was going to be. Unlike other builders, where things are included but you never know what they really cost. I shopped other builders in my area (alabama heritage) but there was not consistancy in the houses, they are building a different style home than when they started the neighborhood. Jeff Benton homes has not changed the product or how they build their homes, maybe that's why other builders are starting to do things differently. I checked with my Realtor and if you look at the resale for a Jeff Benton home, it's good. Maybe becuase they don't overinflate the homes with "amenities" that everyone else (the majority) doesn't want to pay for. Just my opinion but I would definetly consider buying another Jeff Benton home in the future.

[HB2HSV]

Originally Posted by madraofthree

I am a Jeff Benton homeowner and I didn't feel like I bought a "stripped down" house. Instead, I liked that I got to choose what I wanted in my home and I loved going to the design studio to pick my colors and add the extras that I wanted. Jeff Benton had everything priced so I knew right away what my bottom line was going to be. Unlike other builders, where things are included but you never know what they really cost. I shopped other builders in my area (alabama heritage) but there was not consistancy in the houses, they are building a different style home than when they started the neighborhood. Jeff Benton homes has not changed the product or how they build their homes, maybe that's why other builders are starting to do things differently. I checked with my Realtor and if you look at the resale for a Jeff Benton home, it's good. Maybe becuase they don't overinflate the homes with "amenities" that everyone else (the majority) doesn't want to pay for. Just my opinion but I would definetly consider buying another Jeff Benton home in the future.

Welcome to CD forum and thanks for posting.

This thing about 'amenities' is really subjective. Take crown molding for example, I can't understand why folks place so much value in it. I remember somre real fancy crown molding in 100 yrs old apartments in NYC, yet I've never hear people who buy them say "oh wow - I buy this apartment because it has crown molding!!". Personally I love some of the exterior sculptures in those NYC buildings, though they serve no functional purpose other than artistic, I would be willing to pay extra for them.

So I guess it is difficult to place a 'value' on amenities. A house is not an apartment rental. Some want 'extras' so they can enjoy & perhap 'spoil' themselves a bit more.

[Maya Blue]

Originally Posted by HB2HSV

Welcome to CD forum and thanks for posting.

This thing about 'amenities' is really subjective. Take crown molding for example, I can't understand why folks place so much value in it. I remember somre real fancy crown molding in 100 yrs old apartments in NYC, yet I've never hear people who buy them say "oh wow - I buy this apartment because it has crown molding!!". Personally I love some of the exterior sculptures in those NYC buildings, though they serve no functional purpose other than artistic, I would be willing to pay extra for them.

So I guess it is difficult to place a 'value' on amenities. A house is not an apartment rental. Some want 'extras' so they can enjoy & perhap 'spoil' themselves a bit more.

Yeah, I've never understood the rave that is crown-molding. The only reason I'm adding to my current house is for perceived resale value. Since crown-molding helps it look more expensive than it is and realtors love to push that aspect. Because if it doesn't have the crown-molding it must be a crap house.

[friday13]

Originally Posted by stewdog1

Yeah, I've never understood the rave that is crown-molding. The only reason I'm adding to my current house is for perceived resale value. Since crown-molding helps it look more expensive than it is and realtors love to push that aspect. Because if it doesn't have the crown-molding it must be a crap house.

I'm annoyed (and turned off to even consider) when a realtor/seller directs my attention to frilly embellishments in order to distract from major "flaws" (e.g. "I realize the bdr is a bit smaller than you want, BUT it has crown molding, or brand new carpet, or plantation blinds stay".) Especially when you plan to live for a little longer while in that house, you can always add the frills gradually (on your own time, and money, and if they're still "in" 20 yrs later). Or on resales: the playground stays, the fridge stays, the window treatments stay at NO COST. Yeah right, who likes to make a bad deal? How about telling me how much you REALLY valued that at, give me a price reduction, and take your stuff on your way out (so I don't have to pay extra for garbage collection).

Borrowing 30-yr money to pay for non-essentials won't cut it for me. But that's just me. I wonder how many like me are out there.
But TG for the "other" people, that we have some spenders helping the economy.

[HB2HSV]

Originally Posted by friday13

Borrowing 30-yr money to pay for non-essentials won't cut it for me. But that's just me. I wonder how many like me are out there.
But TG for the "other" people, that we have some spenders helping the economy.

You must be either a engineer or a finance major.

But what defines as an "essential"? One's essential could be another's frivolous spending.

[friday13]

Originally Posted by HB2HSV

You must be either a engineer or a finance major.

Yes, I am. And If I hadn't been engineer OR finance, I could've been the other one.