Sold My House
 

Well we sold our home today. Its been on and off the market from almost three years. It has been a painful experience and we finally opted to sell it for less than we bought it five years ago.

Anyway, its kind of like we are starting over as property owners. We are going to sit and wait to see what the market does before we take on a huge amount of debt again. I have a feeling its going to be pretty bad after the holidays.

Anyway, glad to be done with it, glad to get rid of a huge commute for my wife, and glad to finally be moving on with our lives.

Hoov :):)

Good for you. With interest rates where they are don't wait too long.

Congrats. Good luck on the new chapter of your lives...

Congratulations! Cheers to you and your wife!:toast::BLVD:

Hope the next one is better one.

Correct. Rising interest rates are liable to doom economic recovery, and with the slow progression that we've managed to develop there's a good chance we'll be walking backwards very soon. You're looking at a larger threat to budget deficit, which in turn is simply going to exacerbate any further downturn.

Obviously, congratulations on your sell, but as much as it is an imperative to be cautious with your decisions, it's just as important to be aware of what these ridiculous interest rates could actually cause; not just for home-buyers alone but for every citizen struggling with a mortgage. Good luck!

If you kept the garage closed
where your sofa was hanging out
it would have sold quicker

congrats

Now that you're a celebrity, you're moving to the Big house....aren't you.

Great. Now get out there and buy another one while they're cheap. Look at REO's. Make 100 offers at 50%. You'll get one accepted and make your money back.

Glad you got rid of it if that's what you want. Those were cool digs, though.

Don't wait too long - $6,500 tax credit if you buy before April 30th. We are in the process of TRYING to sell our house.

What a dumbasss !!! Rent that sucker out and buy the next!

On your next house, make sure you pay at least 25% extra on your mortgage so you won't get assfucked on interest. Even if you lose money in your house - you'll gain equity soo much faster on a 30 year loan even w/ interest rates low right now. By paying 70% more each month directly to principal I am set to own my house in seven years instead of 30. Even if you pay like 25% more each month I think it'll cut your 30 year loan into like 11-12.

Over the long run I'll save $40,000, and I only have a 4.75% interest rate.

2.93%:D

Well I lived like a King in my little town. Now that I'll be moving to the Des Moines area I'm probably going to have to downsize. I'm cool with it, they wife will have to adjust. We loved our home, but there is no way we could afford something like that in a good neighborhood where we are going. If I'm a celebrity, I'm sure not getting any perks!

yeah, I don't think we will qualify for that. We had our home for 4 years and 9 months or something. Effin government.

you talk fancy.

I didn't know you were moving. If I may ask, what for? New job, or just decided to make a change?

Carthago non delenda est!

I heard on the news that mortgage rates have hit an all time low.

I made a slight career change a few years ago. Instead of focusing on fundraising, I do more consulting and communications work. My wife works in Des Moines and I have an office there now too. The only thing keeping us from making the move was our home. Since we didn't want two mortgages, we held off on moving until we sold it.

My main focus is my political website that focuses on Iowa politics. I also have a national political site that is more video based.

I have my hands in a lot of different things, so I need to start keeping regular office hours. I've been a free spirit for the last two years, it's been great but its time to focus again.

I didn't know it would make that big of an impact. I'm going to check into doing this...that's a huge difference.

So using this payment calculator - http://www.hsh.com/calc-amort.html - you would knock 10.5 years off your loan and save almost 40% on the interest by paying an extra 25% per month. Heck, paying even 10% more per month will cut your loan by 5.5 years and interest by 21%.

Same thing on car loans. With car loans you don't even have to pay more just pay 2-3 weeks earlier than the due date. Say your payment is due the 30th. Pay it on the 15 every month and you can knock off a year on a 5 year loan.

That sucks man. I think - just what a mortgage friend told me - you have to of lived in your house for 5 years and buy another house by April 30th.

Wow. That's good news to know when we get into our new house.

While I don't disagree with anything you have said, it's important to note that all this advice is only relevant if you plan to stay in your home the full 20x plus years. If not, then really you're giving the bank an interest free loan on your money.

Agreed but it’s certainly a gamble to buy a house right now, at least that’s what I told Mrs. Radar when we were looking at the house we bought last summer.

This inspired me to check on the price of the mini-mansion near our house. They lowered the price by $70,000, but it's still notably out of our price range. It's a good buy, though, if anybody is in the market for a Denver mini-mansion.

The haunted mansion a few blocks to our west was a steal if you didn't mind the lost and angry spirits. They lowered the price by more than $250,000 and it's now under contract. The asking price when it sold was only $639,000, so they probably paid less for it. It needed at least $300,000 of stonework repairs, though.

I dip into your website frequently, usually several times per week :thumb:

If ANYTHING, it's best to pay a ton more early in your loan. If you get your principal down real low you won't have much of a compounding interest to start with. I don't care what I'm giving my bank as long as it's helping me. I don't think the bank would even want you to pay the loan back early, less interest for them.

Yeah it's crazy. I was floored when I looked at an amortization chart about how much I was getting screwed w/ interest.

I've alerted moveon.org to that place.

Tell those D-bags I want my $2......Caaaaaaaaash.

I speak English, French, and Newfi
Ya mind translaten?

Awesome! Thanks for popping in.

Yeah, I put 20% down on a relatively low priced home. Interest doubled the overall cost of the loan. Over 30 years. Needless to say, I don't intend to pay the entire 30 years.
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