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Old 03-01-2015, 11:07 PM
 
Location: Greenville, NC
2,309 posts, read 6,084,498 times
Reputation: 1430

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Quote:
Originally Posted by pokeable View Post
$1K for a $300K loan IS negligible. It typically is wrapped into closing costs, and amortized over 30 years at 4%, it really is next to nothing.
You don't understand either. A $300,000 home in not an affordable home for the blue collar working class. Try to imagine this. A husband and wife just starting out. They've been married a few years. They have a 24 month old baby and another on the way. He's a forklift operator. She works the front desk at a local dentist office. I'm thinking a $100k to $120k starter home would be more in line than a $300k house would be. What do you think?

Not everybody is college material nor should they be. We still have to have people that do the grunt work. These are the types of people that are being forced out of the state or into slum type housing. It's ridiculous.
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Old 03-02-2015, 12:48 AM
 
2,180 posts, read 2,669,273 times
Reputation: 2601
Quote:
Originally Posted by Richard Martin View Post
You don't understand either. A $300,000 home in not an affordable home for the blue collar working class. Try to imagine this. A husband and wife just starting out. They've been married a few years. They have a 24 month old baby and another on the way. He's a forklift operator. She works the front desk at a local dentist office. I'm thinking a $100k to $120k starter home would be more in line than a $300k house would be. What do you think?

Not everybody is college material nor should they be. We still have to have people that do the grunt work. These are the types of people that are being forced out of the state or into slum type housing. It's ridiculous.
So then what on earth were you talking about a .25-.75% transfer tax for? Good grief. You can't even decide what you're trying to complain about. I can't believe you just refuse to produce any real-world ideas. We get it; you think people with low salaries should be given nice homes in whatever area they want. That's not reality in this country or any other capitalist country. Just accept it as fact or produce an idea that you believe is better than our current economic system. Just whining over and over isn't at all productive. Do you think MD should provide more subsidized housing? Do you think MD should raise the minimum wage so low-skill workers are paid more? Do you think MD should encourage up-zoning/urbanizing more areas so that more units are built? Give me something. Any legitimate idea from your head that goes beyond "housing is expensive in some places and in other places it's cheaper. I want it cheap everywhere!"
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Old 03-02-2015, 05:21 AM
 
Location: Greenville, NC
2,309 posts, read 6,084,498 times
Reputation: 1430
Quote:
Originally Posted by bufflove View Post
So then what on earth were you talking about a .25-.75% transfer tax for? Good grief. You can't even decide what you're trying to complain about. I can't believe you just refuse to produce any real-world ideas. We get it; you think people with low salaries should be given nice homes in whatever area they want.
Because coming up with the transfer tax money is part of the problem. I just pointed that out as being a part of the problem and it is. I never said anybody should be given anything. What I do believe is that hard working people should be given the opportunity to at least purchase a starter home in the area in which they work. 1,000 to 1,200 sq ft., 3 bed 1 bath for around $100,000. Like these. http://www.realtor.com/realestateand...56-50852?row=4
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Old 03-02-2015, 05:34 AM
 
Location: On the Chesapeake
45,114 posts, read 60,226,663 times
Reputation: 60714
Several years ago one of the things the Legislature tried to fix was the relatively high transfer taxes/fees in the State. So, apparently, it is a problem. There were changes on the margins but they are still somewhat of an issue.


And it's just not transfer fees, you also have to include impact fees/excise taxes levied on new construction, recreational fees which are levied, tap fees for water and sewer.

To use an example, in North Beach the fees on new construction are $18K for water and sewer taps (you can thank ENR upgrades for that) ,$2K for capital connection and almost $15K for the Calvert County excise tax. That's before a shovel of dirt is turned for site prep.
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Old 03-02-2015, 07:52 AM
 
581 posts, read 1,169,817 times
Reputation: 509
OK, so hypothetically take all the fees/taxes out of the transaction and your 300k house is now 275k? your mortgage payment just went from about $1500 to about $1480. That is pretty negligible if ask me...or anyone.
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Old 03-02-2015, 08:04 AM
 
Location: Greenville, NC
2,309 posts, read 6,084,498 times
Reputation: 1430
Quote:
Originally Posted by ay jayy View Post
OK, so hypothetically take all the fees/taxes out of the transaction and your 300k house is now 275k? your mortgage payment just went from about $1500 to about $1480. That is pretty negligible if ask me...or anyone.
You too fail to see the full scope of the problem.
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Old 03-02-2015, 08:07 AM
 
Location: PROUD Son of the South in Maryland
386 posts, read 653,622 times
Reputation: 189
Quote:
Originally Posted by Richard Martin View Post
You don't understand either. A $300,000 home in not an affordable home for the blue collar working class. Try to imagine this. A husband and wife just starting out. They've been married a few years. They have a 24 month old baby and another on the way. He's a forklift operator. She works the front desk at a local dentist office. I'm thinking a $100k to $120k starter home would be more in line than a $300k house would be. What do you think?

Not everybody is college material nor should they be. We still have to have people that do the grunt work. These are the types of people that are being forced out of the state or into slum type housing. It's ridiculous.
Agreed. But the Problem in the DMV isnt just for blue collar workers anymore. Seems to be tough for anyone bellow the upper middle class that is struggling in some way or another.

Quote:
Originally Posted by Richard Martin View Post
Because coming up with the transfer tax money is part of the problem. I just pointed that out as being a part of the problem and it is. I never said anybody should be given anything. What I do believe is that hard working people should be given the opportunity to at least purchase a starter home in the area in which they work. 1,000 to 1,200 sq ft., 3 bed 1 bath for around $100,000. Like these. http://www.realtor.com/realestateand...56-50852?row=4
EXACTLY my point too. There is no such thing as affordable housing in the DMV anymore. Instead of having a lower class nieghborhood and a middle class neighborhood and then rich neighborhoods where everyone can find the housing that fits their budget we have nothing but over price expensive housing. Heck even the housing that used to be cheap is driven up which only helps investors while screwing people who cant afford to live where they work.

Quote:
Originally Posted by North Beach Person View Post
Several years ago one of the things the Legislature tried to fix was the relatively high transfer taxes/fees in the State. So, apparently, it is a problem. There were changes on the margins but they are still somewhat of an issue.


And it's just not transfer fees, you also have to include impact fees/excise taxes levied on new construction, recreational fees which are levied, tap fees for water and sewer.

To use an example, in North Beach the fees on new construction are $18K for water and sewer taps (you can thank ENR upgrades for that) ,$2K for capital connection and almost $15K for the Calvert County excise tax. That's before a shovel of dirt is turned for site prep.
My family was going to gift my wife and I some of the family farm to build on and the building was going to be much cheaper then buying a house. Then they pointed out taxes and fees. Youd be surprised at how much extra it is to build a house on land that is already subdivided, perked and has a well and area setup for septic. Was going to add another 100k making the option impossible. Then there was the grey area of taxes that if gifted would circumvent them but if not thatd be another 30000 +. Oh and yod think just down size from a normal to smaller sized house to make up the diffrence....then the builder wont build as its not enough profit and the community bylaws state the house has to be a certain size or cannot be built. So screwed once again by affluence.

So a family farm thats been in the family forever cannot be gifted without being fee'd to death in this state. Its really sad as the only chance to live my dream of taking the family farm and continuing it is out of reach.
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Old 03-02-2015, 08:08 AM
 
581 posts, read 1,169,817 times
Reputation: 509
I dont think you understand. Why would a seller sell a house for 100k when they can sell it for 300k or more with the same effort?
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Old 03-02-2015, 08:13 AM
 
581 posts, read 1,169,817 times
Reputation: 509
Quote:
Originally Posted by North Beach Person View Post
Several years ago one of the things the Legislature tried to fix was the relatively high transfer taxes/fees in the State. So, apparently, it is a problem. There were changes on the margins but they are still somewhat of an issue.


And it's just not transfer fees, you also have to include impact fees/excise taxes levied on new construction, recreational fees which are levied, tap fees for water and sewer.

To use an example, in North Beach the fees on new construction are $18K for water and sewer taps (you can thank ENR upgrades for that) ,$2K for capital connection and almost $15K for the Calvert County excise tax. That's before a shovel of dirt is turned for site prep.
The builders just pass these on to the buyer who pay over 30 years. Its better than having the county's taxpayers footing the bill.
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Old 03-02-2015, 08:21 AM
 
Location: Greenville, NC
2,309 posts, read 6,084,498 times
Reputation: 1430
Quote:
Originally Posted by ay jayy View Post
I dont think you understand. Why would a seller sell a house for 100k when they can sell it for 300k or more with the same effort?
What about those people that can't afford a $300,000 house. Like I wrote previously...

A husband and wife just starting out. They've been married a few years. They have a 24 month old baby and another on the way. He's a forklift operator. She works the front desk at a local dentist office. I'm thinking a $100k to $120k starter home would be more in line than a $300k house would be. What do you think?

The whole system in Maryland and it's counties encourages expensive housing because it pays more in taxes. I don't blame the builders. As Andrew_s said, there are $100,000 in total fees before you even break ground.
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