Every day that passes wVU becomes more right than the sellers. But not if he cannot find a better deal on a home he likes equally.
But still, if you love the home, and are financing 50%, why not just finance 52% and not suck the additional 20k out of your savings acct.?
Do you have to finance EXACTLY 50%? :think2:
But still, if you love the home, and are financing 50%, why not just finance 52% and not suck the additional 20k out of your savings acct.?
Do you have to finance EXACTLY 50%? :think2:
Check out this shit. This is arguably in the BURBS!!!!! http://www.vallagio.com/expressive_homes/villas.aspx
FROM the 800s? 400s? WTF????????
FROM the 800s? 400s? WTF????????
I am by no means a hillbilly nor am I uneducated. I am closing on a nice 3200 square foot house in 10 days or so. There was a contract on this house for 579k about 15 months ago, but the deal fell through (probably couldn't get financed). I have been talking to the realtor and I know the sellers are desperate. They reluctantly accepted my offer for 420k. The only comparables in this area for a house this size are going for 700-800k. Neither agent can believe that I am getting this house for this price. The owner of the appraisal company has already offered me 500k which I declined.
My plan is to move into this property and rent out my current residence. After 6-12 months I will list this new house and refinance it, taking out about $200k in equity and putting it down on a 1m house that I will eventually live in long term.
My plan is to move into this property and rent out my current residence. After 6-12 months I will list this new house and refinance it, taking out about $200k in equity and putting it down on a 1m house that I will eventually live in long term.
Mostly had to keep my fingers away from the keyboard regarding this thread while he was a mod and thanks for bumping it 5tp.
The above post from WVU is among the most ridiculous and foolish post in the history of therx.
Actually, for WVU to even begin a thread such as this, in the midst of the largest real estate crash the US has ever went through, shows how hubris can quickly bankrupt once wealthy people.
He literally caught a falling knife and Im sure his ego has been cut to pieces from the ongoing real estate trainwreck.
Thankfully, for his sake and wallet, he only bought a 420k home instead of a 700k home.
He regularly mentioned he had all his money in real estate, so if he isnt already broke, most likely wvu will be broke before this time next year.
Would you decline 500k for the house now WVU?
:wink:
