New England B.S. Thread

https://www.youtube.com/watch?v=t88QUqCuOuk

 

Thanks Rob!

 

I did a refi in 2020 to drop down to a 15 year and didn't need one for that, either. But I never had PMI, so they only wanted to see 10% equity and an appraisal was good enough for them there.

 

That’s neat. How does that not freeze in winter? If the home is in a cold weather climate.

 

We went with loan Depot pay off is in 2034. Not too far away.

 

What in the world? I've never heard of such a thing!


https://www.extremeterrain.com/taco...vuyx51XvFI9WtM5smfUaAu7xEALw_wcB&gclsrc=aw.ds

 

Mine's also 2034 - it's technically a 13-1/2 year since it's a bi-weekly mortgage. I kind of wanted to buy a place with more land by 2027, since I'll be 35 then and would be able to pay it off by the time I'm 50. But, with real estate prices how they are it's looking unrealistic. I may start putting money into a kitchen, deck, etc. in my current house around that time instead.

 

Oh, I'm sure it does. There's a second ball valve in the basement that I told her to turn off for the winter. Hopefully she did it. I had 1 degree this morning.

 

The thing I can't understand is how someone could place an offer over list price and still get it to appraise for a loan. The required down payment must be substantial to close the gap between the appraised value and the loan amount (as far as I am aware, no bank would secure a loan over the appraised value). Not to mention a few of the appraisers I seen/worked with always ask what the offer amount of the house is and try to push up the numbers to meet it.

We bought our house in 2012 for a fair price, and the market value today is bananas. My younger brother has been working towards buying his first house and I honestly feel bad for him - trying to crack into the market now is damn near impossible without having a place to sell and fund the next purchase.

 

2017 for us. I think we offered a shade under asking, but it wasn't too much. I think we ended up at 232 on a 240 list. We got SUPER lucky.

1. The house wasn't even a good listing. The seller realtor was a family friend, great guy but I think he had time off before this sale. The pictures he took were not flattering.
2. We didn't even plan on going to this one. We had one nearby and it was an open house so we just swung by.
3. It was under contract before us, that fell through, so it came back on market a bit lower, which fell into our price radar.

My MIL was down to see another house we were looking at, and she was going to try to pump the brakes and encourage us to just look at renting another year, it's not the end of the world. We saw this house - "BUY IT". HUGE back yard (for the area), amazing neighborhood and area, great shape, seller was an awesome guy.

Anyway, long of the short, yeah, we went in a shade under ask, inspection brought us down another 2-3k I think, ultimately we were at 235ish. Now I get zillow reports it's at 400.

Ain't shit for prices. Rates are going up, prices went up and are staying up in the US, in the UK they're STILL going up.

The valve specific or in general? I have a ball valve on my bib in my garage. LOVE it. Hate them twist things. Want to replace the other one but it's one of those "it ain't broke" things. Sawing off hose pipes just 'cuz, when there's other stuff that needs attention....

Same here - we went from a 30 to a 30 though, we can overpay if we want, but 2.625% for 30 years NO complaints there. We dropped PMI. They didn't even do an appraisal, they asked what it was worth. I asked what it needed to be worth to drop PMI, so I said "That much", and they used it! It was close enough though that I think they let it ride. Probably some software that gives a MIN/MAX to "accept without verification" type of thing based on comps or whatever.

https://www.cbsnews.com/news/home-prices-underwater-mortgage/

This doesn't paint the whole picture though, since a LOT of these were when rates were stupid low - they're underwater but their payments are 12, 1300 a month. Unlike 2008 with balloon payments that jacked up everything.

https://flexbooks.ck12.org/cbook/pr...lated/rwa/how-balloons-destroyed-the-economy/

so, it's not GREAT, but it's not the same situation as 07/08.

 

I kind of want to get one just to test it out and see what it is like......For that place though........You can get a basic Leer cap for that.

 

Mine's 3% for 15 - had I waited a few more months I could have gotten it to 2% or so, but who knew it would go even lower?

My refi appraisal was barely an appraisal at all. He basically just drove by. The report said all over it that the numbers were "based on the assumption that the interior is in similar condition to the exterior"

 

Can get 2 new soft toppers/3 used ones, and a prime rib + bottle of good whisky for that cost. I'm assuming they can fold down though.

https://getflated.com/products/air-topper?variant=40058622050472

I think that's what my original appraisal was - basically a fly by. Then again, refi just didn't have one.

We did our refi with the same mortgage guy though, so maybe that helped.

 

Mine were shut off last week. Crack the outside spigots a smidge from there. In case of trapped water.

 

Same boat here but @ 2.75 I’ll keep it there

 

Absolutely..you are 100% correct. I would never just purchase and keep it lol......I was just thinking that I would get one just to test it out lol. I just watched a couple of videos on them and they are Waaaaaaaaaaay overpriced for what you get and a hell of a lot of downsides. it even looks like a 6 foot soft topper is more durable as well. lol

 

No picture of the collapsed/folded up one here, but I think this is basically the same thing.

Guide Gear Truck Tent for Camping, Hunting, Tents for Pickup Trucks, Fits Truck Bed Length 79-81", Waterproof Rainfly Included, Sleeps 2

https://www.amazon.com/Guide-Gear-F...267&sprefix=truck+bed+tent,aps,90&sr=8-7&th=1

 

Or worse buy a nice car and never drive it! You’re just saving it for the next owner at that point. My neighbor has a rouse mustang. And never runs it mebbe 3 times a year. Crazy.

 

We are due for about a foot and a half by the looks!

 

All the talk is which way the low tracks. Watch the whole eastern seaboard gets walloped with a few feet. Lol.