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Shoelayce, what neighborhood are were you thinking of buying in? Im currently living in Bankers Hill. I recently got approved for a loan and have been think going South Park/Golden Hill. Shitty area, but I certainly believe the investment could be very worth it.
QuoteWe are more used to the notion that people are complex and multi-faceted because we have grown up with more exposure to resolutions founded in actual contact versus the single dimension of Internet commentary.
definitely some good food for thought.
A graph like this would give me nightmares: http://www.zillow.com/san-diego-ca/home-values/
Can US banks demand more security if property values go down? Having to pull another $100k out of thin air would be bad.
On the plus side it has mostly just recovered from the housing bubble, and the tech sector has been extremely bullish the last couple of years. On the down side, the housing bubble was arguably a bubble, and tech seems to be slowing down lately. Still, if you think it's expensive now, and property values continue going up like this, there is an unfortunate risk that it won't get much more affordable in the near future either.
Generally speaking, your mortgage payment should be less than a rent payment for the same house based on a 30-year mortgage.In the area Solayce is talking about, this isn't the case. He'd be looking at about $2800ish for a house payment (400k price point in the area he wants to live/currently lives in) and his rent would be about 2kish.
Don't forget about property taxes. If you add them to your mortgage payment your monthly payment will shoot up quite a bit.
Irs has one in their site
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I'm kind of jelly
it's awesome watching xanon turn into jxands