[waltchan]

Originally Posted by Commander666

I thought all mortgages in California were 60 years, 30 for the original buyer and 30 for their heirs.

It's now 30 year max today, since Dodd-Frank reform in 2010. Home prices continue to appreciate and easily build equity, while we cannot increase loan-terms powered by Fannie-Mae, making it very unaffordable today for many. Doesn't make sense.

[airics]

Originally Posted by waltchan

It's now 30 year max today, since Dodd-Frank reform in 2010. Home prices continue to appreciate and easily build equity, while we cannot increase loan-terms powered by Fannie-Mae, making it very unaffordable today for many. Doesn't make sense.

that was what the previous idiot president signed into law... instead of making things more affordable, it went the other way....

[Commander666]

Originally Posted by airics

that was what the previous idiot president signed into law... instead of making things more affordable, it went the other way....

Dodd Frank was another piece of terrible legislation. I love the part that states govt pension funds can't own a stock under $6. One of the teachers funds owned billions in Bank of American stock which dipped down below $6 for about two days, they had to sell the stock, which of course went up to $30. Now the dems have Maxine, the cocktail waitress, and pocahontas regulating our Financials.

[Commander666]

There was a must see moment when Maxine the regulator grilled the COEs of financia institutions about forgiving student loans, to which the first answered we haven't done student loans in 15 years, right down the line of Ceos, to which they had to explain to her the govt handles student loans. It was the most shameless behavior in recent times.

[ddeemo]

Originally Posted by 2sleepy

I don't see how those rates are possible in Las Vegas unless you have a very small home. I lived in Northern Nevada and our bill combined gas and electric ranged from $250-$400 a month. We now live in Sacramento and have Smud. Our average electric bill in Sacramento is $60, gas is PG&E and averages $30, our home here is about 500 sq ft smaller than our home in Nevada.

Peak TOU rates in Southern Nevada $0.44/KWH. (noon to 7) In Sacramento peak rate is 5-8pm and is $0.28/KWH. Our average electric bill in Sacramento is $60, gas is PG&E and averages $30. I just can't make the math work for what you are saying, unless you are talking about the 200 days when the weather is mild in LV, but the summer has to kill you with those tou rates.

San Diego is a bit of an outlier for California, their utility rates are very high and I'm not sure why the residents of San Diego haven't tried to do something about it (or maybe they have and I just haven't heard about it)

I have a little over 4000 SqFt both in SD and LV, not too small.

In San Diego it is much worse - the rates are all much higher and for much longer periods at the higher rates. For the EV TOU it is at $0.52 peak for 6 months each afternoon (4-9pm) and the standard $0.26 for most of the rest of the time all year and drops to $0.09 mainly overnight (and only if pay extra service charge). The only things I have running at peak in SD are refrig and freezer and have thought about putting a timer to limit that.

The LV $0.44/Kwh Standard TOU Rates are 1-7pm only on week days Jun-Sept. Rest of the year and off peak is $0.05-0.06 If don't use electricity for those 6 hrs during the week for 4 summer months, you would not pay the peak. The peak only applies to 6% of the hrs in a year. There is an EV TOU option which drops the peak to $0.36 and off peak to $0.045-0.06 the rest of the year with reduced $0.04 10pm to 8am for EV charging.

I assumed the contract for a solar system (installed by previous owner) to pay a fixed $0.044/kwh rate for all electricity produced and I am on standard rate so pay $0.11 for any excess used but get back $0.10 for any extra produced. The average produced by the system is about 100 KWhr/day at $0.044/kwh which comes to about $120/mo in the summer and I average about 90KWh use when I am in town running AC. Without solar I would pay about $300 on standard rate and about $180 on the EV TOU rate.

In SD I pay $450/mo without AC and in LV $120/mo with AC - about 75% less. If I was using the TOU in LV I would still be paying much less (60% less) in LV.

The system overproduction covers all other utility costs - technically I guess I pay less than the $125 because I get back money at the end of the year. If I started to regularly go over what the system produced, I would switch to the EV TOU Rate, right now I get higher credit for standard rate and not using all Electricity produced.

My house is pretty efficient and with solar panels covering almost the entire roof, keeping the attic cooler.

[waltchan]

Originally Posted by waltchan

Some day, I'm going to create my own new-home builder business constructing only 3 bedroom, 1.5 bath, 2 car garage, single-story, detached homes, all under 899 sq. ft. . Eliminate the hallway, please, 3 bedrooms connect directly to the Great Room. Main entrance door opens at the right/left side of wall with narrow walkway. When you enter, you will immediately see 3 bedrooms and doors connecting directly to the Great Room at opposite end of side-wall, kitchen at front corner of house, laundry room located in kitchen (stackable only) next to kitchen sink with separate pull-out closet door, powder room left side of kitchen near entrance door, and main bathroom right side of kitchen. One main large drain pipe to sewer is all you need. Most 2-story new homes today can come with up to 5 main drain pipes (why?), and pass the extra cost to you.

I squeeze in over 1,000 brand-new, under 899 sq. ft homes (with only one, single floor plan type), built into one community onto one parcel land, which also easily bond neighbors and make new friends so closely. HOA fee never more than $30-$40 per month with no pool, in addition to creating my own lending mortgage company with the only standard 50-year term mortgage out there. This business will be successful to many first-time African-American home buyers, while uniting diversity. How hard is that...

Will people buy our sub-899 sq. ft. new homes if I charge always up to $100,000 less than any major builders' starting price, because they build the houses too big, that's why? If buzz is strong with demand, and I can afford to build identically and match to DR Horton's Express quality using only one universal 899 sq. ft. floorplan (meaning, everything base option with only white interior paint, no option or upgrade is available), let me know...?

Ready to build at Primm and Jean, NV. Why are there no houses?

[luckydogg]

Bakersfield is whispering in your ear: "me love you long time".

Bakersfield or bust.

[EA]

Originally Posted by luckydogg

Bakersfield is whispering in your ear: "me love you long time".

Bakersfield or bust.

That's like all the worst parts of everything in one place.

[kttam186290]

Originally Posted by luckydogg

Bakersfield is whispering in your ear: "me love you long time".

Bakersfield or bust.

Originally Posted by EA

That's like all the worst parts of everything in one place.

Bakersfield isn't the worst place to have to live. Anything west of 99 is pretty nice, as is the old Stockdale and Rosedale neighborhoods. Lots of older, oil money in those parts, plus a branch of California State University. The far-east side, Rio Bravo area, is very nice as well. It's a quick drive to Lake Isabella, Kern River, Kings Canyon, the Sequoias, etc. Going the other way is a couple hours to the Central California coast: Cambria, Morro Bay, Pismo, San Simeon, etc.

Bakersfield is actually enjoying a growth-spurt of sorts right now, as it is being discovered by Millennials as an affordable alternative to the coast. The same thing is happening in the Antelope Valley and the Inland Empire.

My only complaint with regard to living there would be the air quality at certain times of the year when the climate causes a back up of smog around the Tehachapi mountains.

[JonathanLB]

Originally Posted by JohnG72

I am not a fan at all of Summerlin. I get why families want to live there, but it takes forever to get places and it’s miles of bland sameness.

Can’t afford the scotch 80’s, but the surrounding areas are still nice enough and much more character to the neighborhood. I’d be thrilled if the areas parallel to LV BL with all the law offices were converted to residences.

That was my feeling. I felt you would have to be extremely boring and only concerned with “the family life” to tolerate that place. Everything looked extremely bland, way more brown and beige than Green Valley (which was actually green), and it felt forever away from anything with far less shopping and restaurants. When I heard about 5 people say they used to live in Henderson and moved to Summerlin “for the kids,” I knew I wanted to avoid that place at all costs. No thanks.