Best post Ive seen yet.........theres even a Corvette in it

Well, i have to agree that in a Capitalist country that money is evil just as in a socilaist country capitilism is evil.

So where does that leave us?

The idea that one can turn against money in a country built and run on money is beyond my idea of reality.

The Central Coaster asks a question about money and then he says hes not about money?

He buys a home that he clearly can't afford and then askes about what to do with his back up funds?
There is some common sence here in that anyone who carries two mortagages on a home is in over thier head. In other words they had less than 20% to put down.

In a declining market that is going to come back to haunt them.
The US economy is in the crapper, is there anyone out there who doesn't know that?

The one that I noticed the most about the internet is just how stupid most people are.

But the man in all of his dumb posts has back ups.

The second shoe is about to fall. Ps New Jersey has the highest property tax in the nation. Theres no room to make money there, the state takes it all.

All ignorance aside Im a capitalist and Im proud of it.

Ya, all enjoy your ignorance ya here.

Its youwalkaway.com

A 30 year fixed is the only way to go. Adding on in a good market makes sence, but in a declining market it doesn't.

If you can refi into 30 fixed at say 5.6% do it. Probably the bank will not do it if you owe more than 85% on your home.

If your credit score is 700+ and you owe less than 75% or 80% on your home and the loan is below the jumbo loan cutoff at $417k it might just fly. If you can do it, do it.

When you buy a home you're not really so much buying a home as your really buying money. Up untill 2 years ago money was cheap and plentiful.

When money got tight the speculators started dumping property they weren't in for a home. It was about the money.

So now California, Nevada, Florida are in step declines and equity is a thing of the past. Some folks with good credit scores and the ablilty to pay are walking away from thier homes. Even when they bought in with 20% down with the decline in equity thier finding themselves up side down
with no where to go. So there walking away.

Theres a web-site called walking away .com.

The daughter and her husband bought 1,900 sgft new in Fresno in 2006 for $377,000 with a 1st and a 2nd.
I tried to sell them our rental for $240,000 but he stuck his nose up at it and said we were tring to dump the house on him and then he said we only buy new. "We don't buy used houses".

Today that new house is worth $235,000 and dropping. Our rental is worth $197,000. They've lost not only the equity that didn't happen but also the principal something like $142,000. If he'd bought our used house for $240,000 they would have lost $43,000.

They weren't thinking money, they were thinking I want a new house.

This is the worst housing market since 1929.
08 10% drop in value, 09 15%. In the central valley a 2 year old 2,400 sgft is going for $210,000.

Fix your loan and save as money as you can, its getting to be a buyers market.
Everyone says that real estate is a long term investment. Stocks are real estate is get in make the repairs and sell it.

Always think money...........

Ok, stepping out here, but paying 30 yrears on a motrgage is stupid.
After the 1st ten years you've paid off the house. The next 20 years are all profit for the fat cat wall street investor that bought your house from the bank. Banks dont carry mortages, they sell the contract to a investor on wall street.

Having a 1st and a second means that you put down less than 20%.
In todays market that usually means that youre upside down in your home.

If youre upside down you're wasting your time and money on a house that you'll never own.

Who knows when your property will again gain value. Certainly not in the next 4-5 years.

Real estate will fall 10% this year and 15% next year. Thats more than you can make up for in 5-10 years.

What can you do?

Make all of your payments and keep your credit at 100% and save all of the cash that you can its going to be along haul till real estate becomes profitable again.

It may take 10 years so be prepared for the long haul.

If you can save some money for the next two years you'll be in an excellent position to buy another home at a really reduced rate.

Two homes are twice as good as one home, if one home goes up 10% two homes go up 20%.

A word of caution renters can be real problem and costly there is no profit without risk.

i bought a house in 1997 and refied it 4 years later and bought a house in another city and 2 years later I refied my house again and paied off my second house.

My second house went up in value for enough to pay off my 1st house, but rather than pay off my 1st house I rented my 2nd house for a net of $700.00 a month.

My 1st house I turned into a duplex for a net of $700.00 a month which is 65% of my mortage.

After I paid off the 2nd house I bought a 3rd house that I held with no payments for 4 years and then I refied it to but my 4th house.

I sold my 3rd house after its value peaked and netted $65,000 on it.

I still have 3 homes with a debit of $284,000 on property worth at todays rate of $810,000.

Buying one home and paying it off is stupid.

Money never sleeps it has to keep on moving.
Dont buy one home, buy two.

I like the curvy shit.

I added 900 sgft to my house all the work was done by me and the Kid.
The kids a licensed contractor, that helps a lot.

I had a basement that I turned into a apartment, we added a full kitchen, a full bath, laundry room, living room and one bedroom.

The basement had nothing in it, just concrete. We did all of the electrical,
plumbing water and gas, all of the framing, all of the concrete work, all the cabinets, all of the tile work all 700 12"x12" tiles, all of the dry wall.

Water heator, water heator closet, all the bathroon fixtures, etc.
Its been up for 10 years and its returned about $60,000 in rents.

Total cost was about $18,000
A friend with money remolded his kitchen and gave me his old cabinets.
I cut them to fit my project and it finished off the apartment.

It took about 1 year to finish, I worked on it after work and all day on the weekends. The kid did about 25% of it.

After that I didn't need the kid anymore and I remolded my kitchen up stairs, new cabinets in some areas and in the other areas I built new cabinet doors and cabinets. I intalled a wood parquet floor in the kitchen and I tilled the counter tops, new sink, faucet, crown moulding, all new paint and then I added a 200sgft extension to my balcony.

That got pergo, which is crap.

I have a lot of money in tools just to do the job. If you don't have the time or the skills or the money to buy the tools do as The Central Coaster says and just do a quick make over of the exsisting kitchen in this market nothing comes back.

California, has some of the best roads in the country, and some of the worst drivers. The real problem is no-one slows down when its fogged in or raining.

But on the other hand we also have some of the best drivers in country.
Theres actually few fatals here considering the 38,000,000 people who live here.

They left out Hiway 17 theres something like 300+ accidents there every year, but you put one crusier out there and theres 0 accidents.

Whats that mean?

Back surgery can be more of a problem than a cure.
Sounds like you got a good doctor. Good luck to you and your family.

Pianoguy, I'll try that. THANKS.

Mygraines.

I had severe mygraines since I was 18. The kind that put you in bed for several days.

In the last couple of years, they've gotten so bad that I lose the vision in my left eye for hours, not the complete vision, but rather a "dazzle" in one part of the eye, where everything is blurred and its really hard to see out of that eye.

Its really hard to drive when that happens, but its only happened once by myself on a 300 mile trip.

Most of the time I can see the onset of the mygraine, when my vision starts to blurr ever so slightly. I stop whatever I doing and sit down in a hour or two my vision clears up and theres no headache.

I went to the quacks and they said it was a sinus infection. And they said take a antimistmine. So I did benydryl. Big mistake it triggered the worst mygraine of my life. Extreme pain for 2 weeks. The two weeks were spent in bed with no lights and no food.

Now I can't any allergy meds with antihistamines.

Lately since I lost my last job, and I take a bayer aspirin everyday for my normal everyday headaches I don't get the kick you in balls mygraines.

I still lose my vision but thats the least of it, the hammer in head at close range is gone.

You might try that Bayer aspirin for low doseages.

I usta think that mygranes were the pitts, but my new challenge (last ten years) is even worse. Heartburn and stomache gas.

As far guns go think SATA.
Small compressors are a pain the azz to use. They cycle too much creating water, from condesation.

Warning paint in a enclosed area can KILL YOU.
If the water heator is in there also there can be a FIRE!

You're best bet is to get a book on body and paint and do all the prep and have a pro spray the car.

The finish is in the cut and polish, not so much the spray job.

I've been a automotive paint and bodyman for 40 years and some of the best jobs Ive done were at home in my garage.

If you're going to paint your own car you better get it done before 2011.

After that EPA will make it impossible to buy automotive paint.
After 1/1/11 you'll have to be a certified painter with a $100,000 booth to buy auto paints.

If you think the law is unjust and many in the old car hooby do contactr the EPA before its too late.

www.epa.gov

Source Hemmings magazine feb 08

Don its over, you just don't know it.

Dale its over bro. Cash is king. Real estate is over.
The US and the world economy is going to come chrashing down

Save all the money you can but not in a bank account, bit in a safey deposit box. And keep as much as you can at home.

Gold has always been a good investment.

The stock market is gambling with someone else gambling your with your money.

Real estate is good but you have to invest wisely something like .25 cents on the dollar. Keep in mind that oil is over and energy stocks will rise and fall like the tides.

Whatever you have now is what you will have in the future.

Ya know it really doesn't matter what your mpg oil is over.

Never used the "flux core" but from my experience the gas shield is much easier to use.

Bogus is right the 1st gen Cummings is a good motor.
Diesels can be very exspensive to own though. And diesel has gone up.
But diesel is the future.

The VW TDI is good choice. 50 mpg, but they're hard to find.

All the Mercedes get good mileage, gas or diesel. My E320 gets close to 31 mpg with 225 hp.

My 04 Explorer gets 15 and 22 mpg when its running.

The high cost of fuel is here to stay. Theres maybe 40 years of oil left at the long end of it. The US will exhaust its domestic crude in 2010.

Were at 65% imports now. Soon to be 100%.
With oil at 100% imports and China at close to that it doesn't look good for the US.

The only positive side is Canada has plenty of energy and few roads.
And they don't hate us.

Bogus, you got banned? Hows that possible?
Hot Rod 90 got banned last month.

What do you care?
The internet is out there.

Its like a "party line" useless information.

So thats what happened to all the old guard, banned for life?
Ive never been banned, so you must be bad. :tongue:

Ya know I think the Rover would be a fine tow vechicle. I see them being towed all the time.....................

Im on another site and I rarely go to the C4 section.
Instead its a site with all years of Corvettes and I gotta say that everyone gets along really well. C1's to C6's.

A room like that might get the "other" Corvette owners in here.

You know the ones that "don't wave".

As far as the look of this goes, I think it looks great, but Im not a computer geek. Im a car guy.

C4 guru is self limiting unless theres a site here for all years.
Is there? As far the anit-Dale posts..........funny!

I knew it wasn't "our Dale" but I knew he would take it personal.
Unlike me Dale takes everything personal. Humor it just humor.

Quote:

Thanks.............

Well, thats better than the way that I spent my summa.
I spent 30 days at the county farm, picking up trash on the side of the freeway. Long days.