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Posted by Leonard (Member # 2) on October 17, 2005, 10:09 AM:
 
Where will it end?

I'm going to sell my house and buy Nebraska.
[Smile] LB

See ya Thursday

SAN FRANCISCO (Reuters) - Soaring prices in California's housing market have shut out a record 86 percent of households from buying a typical home with a traditional down-payment, according to a study released Thursday.

Home prices across California have more than doubled since late 2001, increasing pressure on home buyers, who needed a minimum household income of $133,800 to buy a home at the August median price of $568,890, the California Association of Realtors said in its report.
 
Posted by Norm (Member # 240) on October 17, 2005, 10:36 AM:
 
go for it.... at least you are having a lucrative retirement...
 
Posted by Cdog911 (Member # 7) on October 17, 2005, 03:25 PM:
 
Q's gonna be pissed now.

Like me. I just found out that trhe contract with my buyer went tit's up about 3 today. The guys failed to provide a letter to my realtor to confirm his financing, which was due on the 12th./ We just wrangled him up today to find out he hasn't found a job yet. Can you spell P-I-S-S-E-D!!! [Mad] [Mad] [Mad]
 
Posted by 2dogs (Member # 649) on October 17, 2005, 04:51 PM:
 
To bad, Lance. Did ya atleast get his "Earnest money" [Confused]
 
Posted by Cdog911 (Member # 7) on October 17, 2005, 07:43 PM:
 
2dogs,

They put $500 down in earnest money. Fact is, there are twop realtors involved and the other one (other than the one I chose) decided to keep the fact that this buyer didn't have gainful employment until now, 5 days after they were to have provided proof of financing. I meet with realtors tomorrow to find out how/ why in the hell I was led into a contract with someone that they knew, for all intents and purposes, didn't have the means to meet the terms of the contract and no one told me. If I have my way, I made $500 off these putzes - a hundred bucks for each of the past five days when they willfully chose to try and screw me.
 
Posted by 2dogs (Member # 649) on October 17, 2005, 08:01 PM:
 
Roger that, Lance.
Sounds like a new rifle coming, to you [Cool] .

Flush'em out Teddy, get'em [Wink]

edited; Because I'm tired.

[ October 17, 2005, 08:36 PM: Message edited by: 2dogs ]
 
Posted by Jack Roberts (Member # 13) on October 17, 2005, 10:19 PM:
 
The absolute minimum upfront money is 2% and that only when the rest of their financials look good. 5% upfront is not an unreasonable amount to demand.

Jack
 
Posted by Jack Roberts (Member # 13) on October 17, 2005, 10:37 PM:
 
Leonard,
I could tell you stories about east coast housing prices that make CA look like bargain basement stuff.

How about a typical 1900 farm house, one bathroom and 2 bedrooms on the second floor, parlor, dining room and kitchen on the first floor, no insulation, all wood exterior. Field stone foundation with a dirt partial basement. An absolute maintenance nightmare and will cost probably $10,000 a year to heat and AC. It does have central heat if you can consider central heat as one heating vent in the center of the ground floor? It is on a 3/10 acre lot, but except where the house sits is too steep for anything. The reason I noticed this house for sale is because it was my great aunt's till she died 30 years ago.
And all this can be yours for only $699,000(firm). I would not accept it as a gift.

Jack
 
Posted by Timberghozt (Member # 707) on October 18, 2005, 03:18 AM:
 
Dayummm [Eek!] That is unbeleivable the price some of you fellas have stated..You all could get a super nice home here in Texas for way.way less... [Confused]
As a bonus,the coyote hunting here in Texas is pretty good too... [Wink] [Wink] [Big Grin]
 
Posted by Bud/OR (Member # 450) on October 22, 2005, 11:04 AM:
 
Boy-oh-boy... Guess I'll have to keep our little house on 1/3 acre, that we bought in '74 for $21,500. We are in the proccess of my retirement..again. I retired once in 1990(30 yrs. as a bricklayer) then went to work for the Dep. of Transportation in '93. My kids are always ragging at me to 'buy Mom a new house'.

Luckily, Mom is 'as happy as a pig...', Oh, sorry. Thats already on the 'Analogies' thread.

Bud
 




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