ConsiderAgain_IHB
New member
Closing is the 25th of this month to a cash buyer. We are through inspections with only an A/C service requested which is now complete and cost $97. The title search is done and Chicago Title has our release of liens confirmed with the county.
<a href="http://www.irvinehousingblog.com/forums/viewthread/3058/#69371"><strong>This</strong></a> is the house we rode out hurricane Ike in. After several fights with AllState we got them to pay for most of a new roof earlier this year.
We paid this house completely off last month, so for about six weeks we know what it is like to own free and clear. The funny part is we haven?t seen the house since sending BofA the last payment and getting the release of lien and pay-off confirmation.
The subtle pressure to buy here in SoCal is there. For the first time in 12 years my wife and I will be homeless renters. We make more than enough to buy just about anything up to around $1.2MM (heaven forbid one of us lose our job).
The $29k/yr rent we pay TIC weighs on me. I gain some solace in that we are DINKs well within AMT territory which negates any mortgage interest deduction a big mortgage would otherwise provide.
I have a realtor calling me monthly with the rising home prices/don?t get priced-out carrot.
I had a discussion today with my coworkers about renting vs. buying. I had five guys telling me the O.C. market is unpredictable and I had better buy now so I don?t miss the next inevitable leap in property values. I replied in my usual measured tone that without the free money made available during the bubble I do not see how property values can sustain based upon incomes. Everyone had a laugh at that and assured me they always find a way to buy expensive properties.
Time for another turkey and coke.
<a href="http://www.irvinehousingblog.com/forums/viewthread/3058/#69371"><strong>This</strong></a> is the house we rode out hurricane Ike in. After several fights with AllState we got them to pay for most of a new roof earlier this year.
We paid this house completely off last month, so for about six weeks we know what it is like to own free and clear. The funny part is we haven?t seen the house since sending BofA the last payment and getting the release of lien and pay-off confirmation.
The subtle pressure to buy here in SoCal is there. For the first time in 12 years my wife and I will be homeless renters. We make more than enough to buy just about anything up to around $1.2MM (heaven forbid one of us lose our job).
The $29k/yr rent we pay TIC weighs on me. I gain some solace in that we are DINKs well within AMT territory which negates any mortgage interest deduction a big mortgage would otherwise provide.
I have a realtor calling me monthly with the rising home prices/don?t get priced-out carrot.
I had a discussion today with my coworkers about renting vs. buying. I had five guys telling me the O.C. market is unpredictable and I had better buy now so I don?t miss the next inevitable leap in property values. I replied in my usual measured tone that without the free money made available during the bubble I do not see how property values can sustain based upon incomes. Everyone had a laugh at that and assured me they always find a way to buy expensive properties.
Time for another turkey and coke.