Your friend will only get $3.6K tax credit. It's 10% of purchase price, with a maximum credit of $8K, assuming he qualifies for the credit.nlsme1 wrote:
A friend of mine just bought a 3 bed/2 bath home on 2.8 acres for 36k. After 8k credit from the gov, he is picking it up for less then I paid for 12 acres 3 years ago.
You got it Kmarion, my max though is not permitting me to save money right now, also consider that I'm alone. No wifey in my life. I have set aside some money from the buyback of my ex, something like 3 mths ahead. Also if ever I loose my job I'll get an easy no brainer job the day after to cover the basic and then do wood working in my garage. I have a lot of options there that I wont describe here. Shit I wont let myself go down that easily to loose that investment. I see my budget in Excel for a year in advance, I'm secured. And I'm working 4 days a week not even full time. Max is relative ftw! (Mortgage is fix over 5 years at 3.99%.)Kmarion wrote:
Maximum is relative.. it could be that he was saying that this was the max he was willing to spend because he needs to have financial insurance as well (a safety net). The fact that he is budgeting his money shows some responsibility.Harmor wrote:
With all due respect, why are you buying a house that is at your maximum budget? If either you or your wife loose your job you'll be up shit-creek very soon. Have at least a 6 months in savings for all your expenses.Jean_Peste_tu? wrote:
When I came in I offered my max budget and saying them that this was my only offer, take it or leave it.
I also hope you didn't get an adjustable loan - those things are what helped cause this whole mess.
Some people have to move to get work elsewhere Mek ... and if you live in CA and have to move to another state you have the extremely shitty end of the stick ...Mekstizzle wrote:
Just wait it'll go back up again, for the time being, just use your house for what you bought it for. To fucking live in
Wait behind the line ..............................................................
That's because the housing market is the biggest legal scam in history. A few years ago you could sell your little house in CA and buy a big ass house somewhere else.Varegg wrote:
Some people have to move to get work elsewhere Mek ... and if you live in CA and have to move to another state you have the extremely shitty end of the stick ...Mekstizzle wrote:
Just wait it'll go back up again, for the time being, just use your house for what you bought it for. To fucking live in
Bubbles you mean.Red Forman wrote:
That's because the housing market is the biggest legal scam in history. A few years ago you could sell your little house in CA and buy a big ass house somewhere else.Varegg wrote:
Some people have to move to get work elsewhere Mek ... and if you live in CA and have to move to another state you have the extremely shitty end of the stick ...Mekstizzle wrote:
Just wait it'll go back up again, for the time being, just use your house for what you bought it for. To fucking live in
scam
Naw, just idiots and plain old greed.Red Forman wrote:
scam
Agree that is part of it. But, it takes idiots and greed to pull off a scam.Ilocano wrote:
Naw, just idiots and plain old greed.Red Forman wrote:
scam
So true.Red Forman wrote:
Agree that is part of it. But, it takes idiots and greed to pull off a scam.Ilocano wrote:
Naw, just idiots and plain old greed.Red Forman wrote:
scam
Well ... that's the free market in a nutshell for ya ... praise it one day, feel the consequenses of it the next ...Red Forman wrote:
That's because the housing market is the biggest legal scam in history. A few years ago you could sell your little house in CA and buy a big ass house somewhere else.Varegg wrote:
Some people have to move to get work elsewhere Mek ... and if you live in CA and have to move to another state you have the extremely shitty end of the stick ...Mekstizzle wrote:
Just wait it'll go back up again, for the time being, just use your house for what you bought it for. To fucking live in
Wait behind the line ..............................................................
I never praised the housing crap...especially in the socal area. Always thought it was bullshit.
It was a housing bubble, the houses were hugely overpriced. They are now dropping back to what they are realistically worth. Same as the internet stock bubble, pets.com and the others were overpriced and then rapidly dropped down to what they were realistically worth.Mekstizzle wrote:
Just wait it'll go back up again, for the time being, just use your house for what you bought it for. To fucking live in
They will not go back up again.
We just sold our house for $634'000 and we paid $500'000 three years ago.
Dance a merry jig then. Most people won't be so lucky/smart.Hakei wrote:
We just sold our house for $634'000 and we paid $500'000 three years ago.
We just had a massive bubble too.
The difference is ours was still motoring along up right up to Lehmann Brothers. Then it kind of flatlined, but there are signs it might be picking up pace again (interest rates are extroadinarily low compared to just 18 months ago)
The difference is ours was still motoring along up right up to Lehmann Brothers. Then it kind of flatlined, but there are signs it might be picking up pace again (interest rates are extroadinarily low compared to just 18 months ago)
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
~ Richard Feynman
PureFodder wrote:
Dance a merry jig then. Most people won't be so lucky/smart.Hakei wrote:
We just sold our house for $634'000 and we paid $500'000 three years ago.
http://mysite.verizon.net/vzeqrguz/hous … states.png
I think this is more relevant.
The Fed in the United States has devalued the dollar. What you see there is real Purchasing Power in the United States dropping I think? Austrailia has been the one of the least affected countries in this whole global recession.
