Tony D Posted November 27, 2004 Share Posted November 27, 2004 I'm in SoCal, on 2.5 Acres, and pay about that, but it's on a 10 year loan. You see, I live in a custom Trailer. I just added two 40 foot sea containers to be a "workshop and storage" and my land values have goe to serious heights from money flush yuppies looking for "the country house"... My neighborhood once was lush Orange Groves that smelled so sweet in the spring, you could feel it on your skin---now they are mostly all gone. They are supplanted by the planned subdivisions of the $400K Stucco Yuppie Coops, that for the most part will fall apart in five to ten years. Heck my trailer is a 75, and it's holding it's own against the termites. For now... Quote Link to comment Share on other sites More sharing options...
hanomon Posted November 27, 2004 Share Posted November 27, 2004 I'm what you might call a cold weather whimp. Raised in the Hawaiian islands, I come here to SoCal and if it ain't 75deg. my tropical blood is chilin'. Wow Tim, you're hard core dude. No sox on your feet yet? Last night got way down to <60deg. I had to break out my Ugg-boots! Ok, so would you like a salary or, health care benifits? Quote Link to comment Share on other sites More sharing options...
Mikelly Posted November 27, 2004 Author Share Posted November 27, 2004 I agree with Michael... the entry fee is higher, but the return on my investment (In my house) has gone through the roof. My home was $126K when I bought it in May 1998. It was listed at $220K a little over a year ago without the family room and with out the upstairs access to the garage. I recently had a realitor stop in and ask if I was interested in selling. I said no. He said "You know what it is worth?" and I said "More than your client will pay." He said "How about $350K?" Took everything I had in me to tell him "No Thanks!". I can't imagine ever being "Upside down" in anything. I simply would never "Get there", since it is bad economics. I'd sell my toys and my Z and figure out a better way first. I know that everyone isn't so fortunate, and I once was not. But for the last 8 years I've been investing 12% of my income, regardless of the rate (8 years ago it was about $53K per year) and I've promised myself never to take a job or pay increase without investing a minimum of $10K per year ( IT has always been more) towards my retirement... The goal is to sit on this property and my retirement long enough to gain enough to be able to pay atleast HALF of the next place OFF on closing so I can do a 10 year mortgage and pay it off in short order OR move further away, do something with significantly less income, and pay cash outright for my home. But for now, this is BOOM TOWN, and I'm living in it! Mike Quote Link to comment Share on other sites More sharing options...
hanomon Posted November 27, 2004 Share Posted November 27, 2004 BOOM TOWN huh? Boom-boom-out-go-the-lights! Rocker Pat Travers predicted our current (ha,ha) electrical conditions. Either our state's elected officials were too stupid to forcast the elect. need or, they just like sending our monies to other state's power generators? Quote Link to comment Share on other sites More sharing options...
Mikelly Posted November 27, 2004 Author Share Posted November 27, 2004 Ah yes, California... Great place... To visit! Mike 8) Quote Link to comment Share on other sites More sharing options...
Mikelly Posted November 28, 2004 Author Share Posted November 28, 2004 Crazy280, Trust me, you got nothing to worry about there! Mike 8) Quote Link to comment Share on other sites More sharing options...
Guest Magnum Rockwilder Posted November 28, 2004 Share Posted November 28, 2004 Dig this: I currently live in Tampa Bay, FL, and AVERAGE rent for a 1 bedroom apartment is $550-$750, and AVERAGE rent for a small house is $750-$850 for a "beginner home". A small home costs $80k-$100k. Average income is $33k, due to the fact that most people are retired and living off savings. I just got back from visiting family in Northeast Arkansas, and they own a 3500 sq/ft 2.5 story home with a 2000 sq/ft guest house for $95k. The house behind them is 2500 sq/ft and is for sale for $32k. The house across the street is a 3200 sq/ft fixer upper and is $15k. A house down the street was 2500 sq/ft and was pretty rough, but fixable, and it sold for $6k. I looked through the paper and there were 2br houses for rent for $250/mo, and apartments for $125/mo for 1br and $350/mo for 3br. Average income for the city is $23k. ... so we're moving there this Summer. We're looking at a 2500 sq/ft ranch style house on a 1 acre lot 10 miles out in the country with a detached garage and multiple sheds, and full fence, for $30k owner financed. To research the demographics of different towns, go to Wikipedia.com and type the city name into the search box. Quote Link to comment Share on other sites More sharing options...
z-REX Posted November 28, 2004 Share Posted November 28, 2004 here in the lovely hudson valley of new york, everything exploded after 9/11. there was a huge boom of people looking to high-tail it out of nyc (can't say i blame them... ) the big problem is that they brought their city money up here with them- great for the local economy but not if you lived here in the first place! in the 3 years my wife and i have been together real estate has literally doubled.... if only i owned a home then! we should have bought a home right away like we wanted to. (we moved fast... gabby happened! ) as it is now, i'm joining tony d in the fine yet cramped art of trailer life, but unfortunately mine is in a mobile home community (say trailer park and i'll kick your... ) advantage being that i bought it from my mother for about twice what i paid for my 240. so now the plan is that once this is paid off (really soon 8) ) we'll start looking into land and just move the bad boy, leaving hopefully enough room to build on the site. i'd much rather just buy a home outright without this whole multi-step process but around here even 40k a year, which i thought wasn't bad for a 27-year old with no degree, doesn't really allow for much. it sucks, but at least i didn't go to years of school to be pissed off at what i make! i'm pretty much content for now with my house. it's in really good shape and for being in a community ( ) i actually have a yard. i just wish it was my OWN yard and that i had a garage for my z... oh, and i want an english mastiff and i can't have dogs here. but i'll stop bitching now! Quote Link to comment Share on other sites More sharing options...
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