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| runner140 | Good morning..... | ||
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Master Guru
 
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The market gave us a ride yesterday. The Dow had a 600 point spread, from its morning low to its close. (closed, up 299 points)
Oil closed at 86.99 (Texas crude)(light sweet March). from the Wall Street Journal "the U. S. economy is likely to dodge a recession, but the slowdown will sap revenues and boost govt. spending and widen the budget gap". Congress moved closer to a pact with the white house on emergency tax cuts and benefit increases to stimulate the economy. Dow futures are up now (at 7:30) Have a great day. |
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Posted on: 2008/1/24 12:32
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| biggrizzly | RE:Good morning..... | ||
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2011 Memorial Day Car Show Winner!
 
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Good Morning to you as well!
The feds drop the rates by 3/4 and the DOW goes up a bit, so the Journal says we will dodge the recession. I think it will take more than one day to make people feel secure. Washington Auto Show started yesterday, I plan to go down after work tomorow. Should be fun checking out all the new cars coming out this year. Its supposed to snow again today here in DC. Hopefully we might get a snow day tomorow!!!  Cheers |
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Posted on: 2008/1/24 13:14
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Don Haller Corvette Club of America 94Coupe, 383Stroka, PeteK Trans, 3000stall, 3.54rear, Konis and bigger sways. |
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| runner140 | RE:Good morning..... | ||
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Master Guru
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Good Morning to you as well! I love Washington this time of year. Did seven Marine Corp Marathons in Wash. My sister lives in Md.....kill two birds with one stone. Probably take more than a few interest rate reductions to get the economy running again. |
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Posted on: 2008/1/24 13:46
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| Notorious | RE:Good morning..... | ||
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Elite Guru
 
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This is so much easier than reading The Wall Street Journal!
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Posted on: 2008/1/24 15:35
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| CSS996 | RE:Good morning..... | ||
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Mega Guru
 
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It is stupid to refinance a home loan if you might move within a year, right? I cannot make up my mind if I want to stay in the same house that is a little too small, and pay it off, or move to a bigger home that is 15 minutes closer to work, and start all over at 30 years. Or refinance my balance and have a potentially lower payment. Or slightly higher on a 15 year fixed morgage...
I've got 20 to go on a 6.79 fixed with a $70,000 balance. Been paying ten years, so I will really start to make progress on that balance soon. It would be SO nice to not have a house payment. I think I can pay it off in about ten years or so if I really work at it. But I only have a two car garage, and a nasty taste for bringing home stray vehicles... I need a three car attached and a six car detached to do what I want. But I would be looking at my monthly payment going from about $800 to over $1,200. Not sure if I want to be there...  Any advice on my situation, Financial Gurus? |
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Posted on: 2008/1/24 15:45
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| bogus | RE:Good morning..... | ||
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Grand Imperial Pooh-Bah
 
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gee... run the numbers... then follow what you WANT to do.
There has to be a happy medium, besides, there might be enough equity in your current home to get the bigger one at a 15 or 20 year note. |
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Posted on: 2008/1/24 15:51
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| DaleD | RE:Good morning..... | ||
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Senior Guru
 
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If there's room, put up an outbuilding at your current home.
If there isn't room, then it's a quality of life question. I had a house with a single car garage that I would have had nearly paid off by now if I stayed there. I moved 3 years ago, and owed about 45k on the place. Where I am now, it will be 10 years before I pay this place off. But it's a much nicer place. No regrets. |
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Posted on: 2008/1/24 15:57
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| Notorious | RE:Good morning..... | ||
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Elite Guru
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I should have mine paid off in a few years. I will feel rich when that happens! I have a three car working garage. And inside parking for four more under the house, which I don't need for that purpose. Since I live alone, I really ought to finish the basement, live in it and then rent out the upstairs to make my payments.
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Posted on: 2008/1/24 16:01
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| CentralCoaster | RE:Good morning..... | ||
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It is stupid to refinance a home loan if you might move within a year, right? Probably. There are upfront fees, and maybe points you pay to get that lower rate. So you have to look at the payback period, how long it takes to become cheaper than staying with what you have, it's probably longer than 1 year. I paid mine down and the payback period was only 1.5 years. Also consider if rates are going up or down. And do you have prepayment penalties on your current loan? $800 monthly payment? I hate you. |
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Posted on: 2008/1/24 17:40
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| BillH | RE:Good morning..... | ||
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The Stig Moderator
 
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Quote:
It is stupid to refinance a home loan if you might move within a year, right? I cannot make up my mind if I want to stay in the same house that is a little too small, and pay it off, or move to a bigger home that is 15 minutes closer to work, and start all over at 30 years. Or refinance my balance and have a potentially lower payment. Or slightly higher on a 15 year fixed morgage... Funny, I'm looking to get a smaller house, well less expensive. I spent the last year fixing up the house to sell, then the market goes to hell. Now I have to wait. Before the market went, I had enough equity to get another house with a 2 car and put up a 30 x 50 shop with the payments at $200 a month without tax and insurance. |
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Posted on: 2008/1/24 17:50
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| CSS996 | RE:Good morning..... | ||
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Mega Guru
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Yeah. Land and housing was cheap in Pueblo West when I bought my home.
Brand new construction in 1998. It was just a hole in the ground when we signed the papers, so we got to choose colors and such. $89,000 for 1,100 sq.ft. finished, 1,000 sq.ft. unfinished basement (which we may just finish, but that does not solve my garage problem) Two car attached garage on 1/3 of an acre. It's a big back yard. Not really big enough to ride a dirt bike, but more than I need. The neighborhood is good, and the schools are decent. Probably worth about $130,000 now. But that won't buy crap in the city where I work. So I am making the commute. My wife works about four miles from our house, and the kids have friends houses they can walk to. I don't really wanna mess up their good thing, but we are pretty packed in here. We keep talking about finishing the basement, but I am afraid to commit. My thinking is that if we decide to move, the house we are in will be easier to sell with the unfinished basement. I can ask much less for the house that way, and may have an easier time finding a buyer. The back yard is big enough to build a detached garage, but the Nazi Committee of Architecture will not allow a building that large or that tall on my property, other than the house itself. I have a daughter that may be going away to college, or may be staying home. I probably should wait for that decision before I do anything drastic... But we are kinda unhappy campers the way things are right now. Luckily we all love each other and get along really well. We are truly blessed in many ways. But I always want to make things better, ya know? Lots of things to consider... Sorry for the personal novel. Your thoughts and suggestions are appreciated. |
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Posted on: 2008/1/24 17:54
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| BillH | RE:Good morning..... | ||
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The Stig Moderator
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Yea, I'm not real happy about selling the house, I can see people sking at Lake Tahoe from the deck. And it's on 1.3 acres. But the payments are keeping me from having fun. And I'm tired of having to walk sideways to get past the C4. I got too much chit for a 2 car.
But, us unhappy campers will get around it! May just have to wait a while. Remember this phrase when you're looking for your next place: "No Homeowner's Association" |
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Posted on: 2008/1/24 18:22
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| CentralCoaster | RE:Good morning..... | ||
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Senior Guru
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You guys should all move to San Diego. Then you won't have to worry about what to spend your money on.
You'll all have 100% interest only mortgages, and not a dime to your name to fix it up with. I think I'll rent out the bed of my truck to some illegals for an extra $400/mo. But look on the bright side, you can refi every 5 years and hope the economy gets better, otherwise the only way you'll get out of your mortgage, is by faking your death. |
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Posted on: 2008/1/24 18:43
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| CSS996 | RE:Good morning..... | ||
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From what I hear from folks who have been to San Diego, it is beautiful, and the weather is ideal. But perhaps it is different if you live there. I would love to visit sometime and see what everyone is talking about.
Well, maybe not San Diego proper. But some undiscovered suburb... Do those exist in CA?  |
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Posted on: 2008/1/24 18:46
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| CentralCoaster | RE:Good morning..... | ||
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Not in Socal, and not without a nasty commute.
Most people can't afford to buy within the city limits but do anyways. Or worse, they get a condo with a naggy HOA and 10 neighbors that are a wet fart away from disturbing your peace and quiet. I'm sure there are plenty of other places on earth as nice or nicer without all the people and jacked up real estate prices. What good is living the "San Diego Lifestyle" if you're too broke to afford it, or spend all day working? I only ended up here because of my job. But I'm starting to realize working here is like taking a 40% paycut. |
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Posted on: 2008/1/24 19:13
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| CSS996 | RE:Good morning..... | ||
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Mega Guru
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I've driven about an hour to work (one way) for most of my life. New Eagle PA to Pittsburgh, Mifflinburg, PA to State College and Pueblo West CO to Colorado Springs.
I gotta tellya, I am really tired of it, but I am also used to it. But I covered some serious ground in that hour. Mostly at 85 MPH these days. An hour commute to go 20 miles would send me to the Hotel Silly in a heartbeat. I am alright as long as I'm making forward progress. I get antsy if I have to sit through two light cycles. I probably could not handle California traffic. I suppose I could move closer to work, but then we'd all be eating Ramen Noodles. Not worth it. |
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Posted on: 2008/1/24 19:22
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| CentralCoaster | RE:Good morning..... | ||
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Senior Guru
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1 hr from work down here usually means living 15-25 miles away. Cruising at 85 mph is much less stressful, and uses the same amount of gas as sitting in thick traffic.
I'm 2 miles from work. My car/motorcycle isn't even warmed up by the time I get here. Spending an extra 1.5 hrs on the road (in traffic) is like getting paid 20% less to have a more miserable day. |
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Posted on: 2008/1/24 19:27
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| CSS996 | RE:Good morning..... | ||
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Mega Guru
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Very True. All of my days are 10 hour days. I get paid for 8. Sucks.
 At least I enjoy what I'm doing. And my company is paying for the gas and a company vehicle. I cannot imagine putting that kind of time in on a job you hate. And paying for all that gas out of pocket. I'm sure people do it all the time. |
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Posted on: 2008/1/24 19:30
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| CentralCoaster | RE:Good morning..... | ||
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Senior Guru
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Yeah, my boss got all pissy when I sold my new truck and got my '69 and a motorcycle and starting taking those to work.
But last I checked, he wasn't footing my expensive car payment/insurance OR my gas to feed the porky thing. So he can shove it. |
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Posted on: 2008/1/24 19:31
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| runner140 | RE:Good morning..... | ||
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Master Guru
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My oldest daughter lives in the Dallas area (Arlington) where home values are as low as I've seen anywhere...brand new 3/2 sells for $150000.
vs My youngest daughter lives in southern Oregon and it seems real estate is out of sight. (mobil homes sell for 175000.) The oldest is pisst...no appreciation and the youngest is pisst because she can't afford to buy a house. |
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Posted on: 2008/1/24 20:39
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| CentralCoaster | RE:Good morning..... | ||
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Senior Guru
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Here's a darling 2 bedroom, 1100 sq ft one for you in San Diego for a cool $750K.
http://realestateconsultants3.califor ... ail_r4.aspx?LID=38219013#  |
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Posted on: 2008/1/25 0:06
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| 81c3 | RE:Good morning..... | ||
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Here's a darling 2 bedroom, 1100 sq ft one for you in San Diego for a cool $750K. Thats just absurd....I've been to SD & yes its nice....but C'mon. A house like that in my town is $75k tops...I live in a beautiful 3 year old 4000 sq' house and it was $290k! I put down $30k and now have $66k in equity. I live 45 miles from one major city & 35 from another. The good lord has blessed me & my wife, so we can both work in the same town we live in. Been here 12 years & still love it. |
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Posted on: 2008/1/25 0:27
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| CSS996 | RE:Good morning..... | ||
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Mega Guru
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That's an $80,000 house in my neck of the woods, CC. If you ever want to live the good life, sell your home and move to Colorado. Hell, what's one more Cali transplant?
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Posted on: 2008/1/25 4:56
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| Oaklands | RE:Good morning..... | ||
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This is so much easier than reading The Wall Street Journal! |
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Posted on: 2008/1/25 6:31
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If duct tape or baling wire won't work, it can't be fixed! |
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| Oaklands | RE:Good morning..... | ||
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Mine is a rancher with a basement. Got 1750sq upstairs and looking at finishing about 1200-1300sq downstairs. (Haven't measured yet). Our office is actually a house with 23 storage rental units which stay full most of the time. I am thinking about doing the finishing downstairs, sell my house, and build some extra rooms at the office and move there. I could pay for it all with the sell of my house and then no house payment, just the basic mortgage on the office which we pay through our main business.
The wife really wants to do it since it would be all on 1 level. My cousin is a real estate agent and said I would probably get 2-3 times more on the new finished space vs what it will cost me. What do you guys think? We have a total of about 1 1/4 acres at work w/plenty of room for the expansion. |
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Posted on: 2008/1/25 6:38
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If duct tape or baling wire won't work, it can't be fixed! |
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| CentralCoaster | RE:Good morning..... | ||
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Senior Guru
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That's an $80,000 house in my neck of the woods, CC. If you ever want to live the good life, sell your home and move to Colorado. Hell, what's one more Cali transplant? Yeah, I've lost almost that much in equity in the recent real estate slump. I don't care much though, I am living within my means and can afford the payment. If I moved into an 80K house, I'd have to buy a new ZR1 and start up a cocaine addiction with the extras. Hmm, I wonder how much it costs to get a houseboat and rent garage space. |
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Posted on: 2008/1/25 6:45
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| runner140 | RE:Good morning..... | ||
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Master Guru
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Here's a darling 2 bedroom, 1100 sq ft one for you in San Diego for a cool $750K. In south Florida (Ft. Lauderdale) for 750K, you get 3500 sq ft. and a pool. I still drive almost an hour to the office. |
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Posted on: 2008/1/25 13:03
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| CasetheCorvetteman | RE:Good morning..... | ||
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For $750,000 AUD, youd get 2 of those here, and its better than Florida
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Posted on: 2008/1/25 13:40
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| biggrizzly | RE:Good morning..... | ||
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2011 Memorial Day Car Show Winner!
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I moved from South Carolina in 2004 and relocated to the Washington DC/Maryland area because my wife and I are both in IT and she is a computer security analyst. Her job down there went away and if you didn't work for the military or the DOE Bomb Plant you didn't get to use any of your technical skills and were basically unemployable except at Wal-Mart or Lowes. I knew people there with dual degrees, masters and PhDs working for minimum wage.
In 2004 we sold our home in SC ($800/month mortgage) for a marginal profit of $35k over a 13 year mortgage. It was about 2,100 sq ft and situated on almost an acre of ground and I bought it new. When we moved to the DC suburbs later in 2004 we could not afford to buy because the housing market was screaming here in DC at that time. I had to pay $2400/month to rent a nice two bedroom townhouse with a single car garage (I had to have a place to park the Vette.) In 2006 we moved again to find cheaper rent and try to try to buy a house. Now I have an offer in on a house which some Realtors call a "Short Sale"; the house is close to foreclosure and was listed at $389K which is way under its appraised value. The house sold to the current owners two years ago for $510K. My point here is that I'm getting ready to buy a house that is severely undervalued and not more than a three bedroom two bath split foyer with about 2000 sqft, and as I figure my mortgage payments are going to be in the vicinity of $2600 today, even with the wonderful gift the Federal Reserve just gave me of a reduced mortgage rate. So, in the past few years I have gone from a beautiful home in the South with an $800 mortgage, lots of room, and friendly gun laws, to a fixer upper in the DC/MD suburbs for $2600/month and have to deal with traffic, crime, and gun grabbers!!! All so my wife can stay employed. Ok - I'll stop bitchin' now |
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Posted on: 2008/1/25 14:17
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Don Haller Corvette Club of America 94Coupe, 383Stroka, PeteK Trans, 3000stall, 3.54rear, Konis and bigger sways. |
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| cuisinartvette | RE:Good morning..... | ||
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Elite Guru
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Houses for 80k...Man that sounds tempting. Heck you could work anywhere and pay for that. $1800/mo rent here for 2br townhouse.
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Posted on: 2008/1/25 14:39
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| DrEvil | RE:Good morning..... | ||
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CC, that house in my neck of the woods is about $75k. Unreal.
Our current house 3/2 2car attatched garage, brick/vynil 1700sq' with 1 acre was $135k 4 years ago. I also have a 45 minute commute but I dont mind. $930 a month including taxes and ins on a 30 yr fixed at 5.5%. I was allmost ready to take out a home equity loan, probaly $15k for 5yrs and build a det garage but decided to wait a bit longer. runner140, Im going for my first half marathon this year. I may shoot you a couple questions in the future if you dont mind. Right now I'm off to the doctors office to have my big toenail removed (ingrown  ) so I can start running again. |
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Posted on: 2008/1/25 14:53
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1996 Coupe Hotcam, headers, true duals, 4.10s. 1969 Wife. Stock, special ordered with redhead package and ride control. 2005 Son. Order date Nov27th 2004. Build date Aug 9th 2005 . Stock with blonde hair/blue eyes and hell on wheels package. |
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| CentralCoaster | RE:Good morning..... | ||
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Senior Guru
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Ingrown toenails rock! Then you don't have to clip em anymore.
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Posted on: 2008/1/25 15:36
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| DrEvil | RE:Good morning..... | ||
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Just got back from the Dr. Things didnt start well. The skin on my feet is tough enough so that the needle broke on the 2nd shot. THAT was fun. Then the clippers wouldnt cut the nail, so out came the heavy duty clippers and a pair of needle nose pliers. As soon as the local wears off I'm sure it'll get intresting around here.
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Posted on: 2008/1/25 18:29
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| Notorious | RE:Good morning..... | ||
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Just got back from the Dr. Things didnt start well. The skin on my feet is tough enough so that the needle broke on the 2nd shot. THAT was fun. Then the clippers wouldnt cut the nail, so out came the heavy duty clippers and a pair of needle nose pliers. As soon as the local wears off I'm sure it'll get intresting around here. You should have just done it yourself with a fifth of your favorite and a cut-off wheel.....  |
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Posted on: 2008/1/25 18:38
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| runner140 | RE:Good morning..... | ||
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CC, that house in my neck of the woods is about $75k. Unreal. If and when you can walk without much pain, you can run on it. Down here, this is half marathon season. Miami is this Sunday and Ft. Laudedale will be on the 17th of February. The Walt Disney half was on the 12th in Orlando. Make sure you have a large toe box...Like a New Balance shoe has(model 902) Good luck. :thumbleft: |
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Posted on: 2008/1/25 18:40
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| CSS996 | RE:Good morning..... | ||
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Mega Guru
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Large toe box.....
That is all.  |
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Posted on: 2008/1/25 20:15
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| Oaklands | RE:Good morning..... | ||
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Senior Guru
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Just got back from the Dr. Things didnt start well. The skin on my feet is tough enough so that the needle broke on the 2nd shot. THAT was fun. Then the clippers wouldnt cut the nail, so out came the heavy duty clippers and a pair of needle nose pliers. As soon as the local wears off I'm sure it'll get intresting around here. Damn, guess I better send you a 1.75 liter of Makers Mark. That might help a little along with any pain pills they gave you. |
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Posted on: 2008/1/26 6:39
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