Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There are plenty of professions not limited to Doctors and Lawyers that can support this type of mortgage; Too many to list in fact.
Like.....
I make pretty good money but my "S.O." would have to be a doctor or some such to afford a $600K+ house. I figure both would have to have about 6-figure incomes to do it and unusual circumstances (eg big inheritance etc) notwithstanding.
A $600K house doesn't mean that the people have to finance $600K. Between paying on a home and appreciation, a lot of people end up with substantial equity that they roll over into the next home. And there are tons of people in this area making six figure salaries, not just doctors. Look at the base of jobs in RTP.
I make pretty good money but my "S.O." would have to be a doctor or some such to afford a $600K+ house. I figure both would have to have about 6-figure incomes to do it and unusual circumstances (eg big inheritance etc) notwithstanding.
There are a ton of engineers, scientists, and software developers in CARY and RTP with 6 figure salaries to back it up. And I am not even including sales staff who make a living on large bonuses.
I also wouldn't call inheritance an unusual circumstance. Unfortunately people die everyday. All of those 40+ year old homes in North Hills, Brookhaven, and ITB were bought and paid off long ago and guess who they go to. Inheritance doesn't have to mean millions although there are plenty of those too.
"Then you have buyers who regardless of whether a listing price is high, dead on, or below market want to come in at 85 cents on the dollar. They care less about what house they buy than what deal they get. Hence-GRIDLOCK"
The problem is someone out there that will take that deal right now.
Tough time to sell right now, and the higher priced houses are hit a bit more. I dont think the 150 to 250 range is hurtuing quite as much.
Im in that range and I am struggling to find a buyer (135 DOM and counting). I have posted my dilemma before so I won't remind everybody, but inventory is thick at every price range. I can't figure it out.
a house is a house, just a place to live, nothing more...I've looked around for a while in the area and I could go out tomorrow and find half a dozen that would be fine. As far as I can tell, in the near term supply of homes, in reasonable locations is near limitless...
This may be how you feel and that is great for you. However, for many people, probably more than not, a house is not just a house. A house is location to ammenities, it's flow, it's style, it's comfort, it's memories, it's an investment, it's a means to an end, it's an American dream. A house to many is something very special and they will look for and wide to find that special gem for themselves, which may not be a gem for someone else.
This may be how you feel and that is great for you. However, for many people, probably more than not, a house is not just a house. A house is location to ammenities, it's flow, it's style, it's comfort, it's memories, it's an investment, it's a means to an end, it's an American dream. A house to many is something very special and they will look for and wide to find that special gem for themselves, which may not be a gem for someone else.
I agree with you although, for me, a home's a place to live. That's why I am a happy renter.
In fact, when I see people all upset after their house is ripped apart by a tornado, I see it another way.
I say to myself, what a lucky break. As long as everyone's uninjured and you have replacement value coverage, you now get a new home and all new stuff to fill it.
In fact, when I see people all upset after their house is ripped apart by a tornado, I see it another way.
I say to myself, what a lucky break. As long as everyone's uninjured and you have replacement value coverage, you now get a new home and all new stuff to fill it.
Guess I'm a pragmatist in that respect, eh?
I'm sorry, but that is about the worst thing I have ever heard anyone say. I hardly think it is a lucky break for someone to have their house destroyed by a tornado, so they can get a new one.
In fact, when I see people all upset after their house is ripped apart by a tornado, I see it another way.
I say to myself, what a lucky break. As long as everyone's uninjured and you have replacement value coverage, you now get a new home and all new stuff to fill it.
Guess I'm a pragmatist in that respect, eh?
saturnfan... has everything been going okay for you lately
I agree with you although, for me, a home's a place to live. That's why I am a happy renter.
In fact, when I see people all upset after their house is ripped apart by a tornado, I see it another way.
I say to myself, what a lucky break. As long as everyone's uninjured and you have replacement value coverage, you now get a new home and all new stuff to fill it.
Guess I'm a pragmatist in that respect, eh?
I see what you're saying. Maybe not a lucky break, but you certainly can't change what happened. You can only move forward on a positive note. And that positive note is that everybody is okay. This brick and mortar building can be replaced and I can get everything brand new.
One of my former co-workers had to have the inside of her house gutted and redone because a toilet bowl burst and flooded the place while she went on vacation for 10 days. She lost just about everything - the walls were mildewed, the ceilings were caving. Her insurance company put her up in temp housing with a garage for her antique car for 3 months and gave her $600 to replace her groceries (she was single btw). She lived elsewhere while she picked out her new countertops, the color of her new appliances, the type of flooring she wanted, etc. Got a brand new house without any extra added expense.
She was hurt and saddened by the whole experience initially but as time went on and she was able to see the finished product, her bright smile came back out. I was excited for her.
So I see EXACTLY what saturnfan means.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
