Hey apparently I got a raise.

[dquan97]

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

 

[Slew Foot]

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

West Sac? It'll be 200K in two years

Housing in the central valley is dropping and the pace is picking up.

Watch the prices fall!

 

[ubercaffeinated]

Originally posted by: Modular
I can't wait for the housing bubble to burst wide open.

Graduating in 1 year and I'm confident ti will happen right about then.

I think housing costs have stabilized and that there is no bubble. Not like the one from 15 years ago. Why? Though real estate prices have cooled, people are STILL trickling into CA looking for housing, and the people who come here, are able to afford it, not to mention, there are many, many people who are like you, waiting for a bubble to happen when it's not. Granted, it's not going up, but it's not gonna go down. Even during a cool period like this a 3-5% decrease isn't going to do jack for most people. The best 500k can buy right now is a 2 bed 1.5 bath townhouse, unless you go to the boonies - which is freaking sad.

In any case, I hope I'm wrong, but it doesn't look like it at this point T.T

 

[JS80]

Originally posted by: Modular
I can't wait for the housing bubble to burst wide open.

Graduating in 1 year and I'm confident ti will happen right about then.

I wouldn't get my hopes up if I were you. CA housing demand is still high and supply is ALWAYS low.

 

[sygyzy]

Being the smartest guy in your whole department, nay, organization, you deserve it.

 

[FrequencyX]

It's most likely a COLA or Cost of Living Adjustment like Aquaman said. Our new year budget started in July and every year we receive about a 3% raise due to Cost of Living.

 

[Slew Foot]

Originally posted by: JS80

Originally posted by: Modular
I can't wait for the housing bubble to burst wide open.

Graduating in 1 year and I'm confident ti will happen right about then.

CA housing demand is still high and supply is ALWAYS low.

BS. San Diego, Sacramento, and the central valley are at RECORD HIGH unsold inventories with more being added every day. The rest of the state has been trickling up this year as well.

 

[JS80]

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Modular
I can't wait for the housing bubble to burst wide open.

Graduating in 1 year and I'm confident ti will happen right about then.

CA housing demand is still high and supply is ALWAYS low.

BS. San Diego, Sacramento, and the central valley are at RECORD HIGH unsold inventories with more being added every day. The rest of the state has been trickling up this year as well.

high inventories don't mean jack. If seller's aren't willing to sell at a lower price, prices won't come down.

 

[compuwiz1]

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Modular
I can't wait for the housing bubble to burst wide open.

Graduating in 1 year and I'm confident ti will happen right about then.

CA housing demand is still high and supply is ALWAYS low.

BS. San Diego, Sacramento, and the central valley are at RECORD HIGH unsold inventories with more being added every day. The rest of the state has been trickling up this year as well.

high inventories don't mean jack. If seller's aren't willing to sell at a lower price, prices won't come down.

And do you think they will just sit on these homes indefinitely? Something is gonna have to give, and it will be the price. Oh, and wait til people start walking away from homes, where the ARM has caused them to not be able to afford the payment, and the house isn't worth what they owe. :shocked:

 

[Slew Foot]

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Modular
I can't wait for the housing bubble to burst wide open.

Graduating in 1 year and I'm confident ti will happen right about then.

CA housing demand is still high and supply is ALWAYS low.

BS. San Diego, Sacramento, and the central valley are at RECORD HIGH unsold inventories with more being added every day. The rest of the state has been trickling up this year as well.

high inventories don't mean jack. If seller's aren't willing to sell at a lower price, prices won't come down.

The flippers and investors will be forced to sell in the face of negative cash flows (see the link I posted a few posts ago). Toss into the fray the people who cant afford their ARM resets, and the 20-55% of CA "homeowners" who have NEG-AM mortgages, youll see prices come crashing down in the next two years (already down in the Central Valley and SD about 10%, on a YOY/sqft basis). No one ever HAS to buy, people sometimes HAVE to sell, that's where the market will drag prices down.

 

[mrchan]

Originally posted by: Slew Foot

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

West Sac? It'll be 200K in two years

Housing in the central valley is dropping and the pace is picking up.

Watch the prices fall!

Fantastic. I will hopefully buy in 2 years.

At the moment, I rent a gigantic room for $300/month.

 

[BrokenVisage]

Lucky it was you and.... wait for it.... NOT Fred.

 

[SampSon]

Most of you have no idea what you're talking about when it comes to real estate.

 

[slsmnaz]

Originally posted by: dquan97

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

Then your budgeting skills are bad. $50k on that should be plenty, even cosidering a car payment too.

 

[isasir]

Originally posted by: BrokenVisage
Lucky it was you and.... wait for it.... NOT Fred.

Well, if it was a cost of living increase than i'm sure Fred got it as well.

 

[Kelvrick]

Originally posted by: slsmnaz

Originally posted by: dquan97

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

Then your budgeting skills are bad. $50k on that should be plenty, even cosidering a car payment too.

Yea, unless you're married or got some other obligations, takehome pay for about 3.2 per month should be plenty for a 40 year 225 mortgage.

 

[ebaycj]

Originally posted by: notfred
I wwent into the mailroom on my way out to lunch today, since I rarely go in there and I thought I'd check and seeif I have any mail (I rarely do). There was one envelope in there with a peice of paper inside titled "NOTIFICATION OF PERSONNEL ACTION".

Apparently I've gotten a raise from $36,449/year to $37,625/year, It's a whole 3.2%, but considering I didn't even know I got it, not bad.

Apaprently they do something similar every year I just never remember it.

NEW JOB FTW !!!

 

[wasssup]

Originally posted by: notfred
I wwent into the mailroom on my way out to lunch today, since I rarely go in there and I thought I'd check and seeif I have any mail (I rarely do). There was one envelope in there with a peice of paper inside titled "NOTIFICATION OF PERSONNEL ACTION".

Apparently I've gotten a raise from $36,449/year to $37,625/year, It's a whole 3.2%, but considering I didn't even know I got it, not bad.

Apaprently they do something similar every year I just never remember it.

Sounds like a gov't job. Pay sounds kind of low though...I didn't read through this thread yet (too lazy) but what do you do if you don't mind me asking?

 

[thomsbrain]

awesome thread hijack.

congrats on your raise! save that extra money!

 

[bennylong]

I live in Southern CA and lived in San Francisco, so , how does anyone survive making $37k a year unless you live with 8 roommates or with your parents? You can't afford to live by yourself

 

[compuwiz1]

Originally posted by: SampSon
Most of you have no idea what you're talking about when it comes to real estate.

Well, please, praytell, what has your contribution to this thread been?

 

[bennylong]

Originally posted by: slsmnaz

Originally posted by: dquan97

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

Then your budgeting skills are bad. $50k on that should be plenty, even cosidering a car payment too.

You do realize that $50k is considered very low income in San Francisco and qualify you for Section 8 housing(low income government housing assistance)?

 

[slsmnaz]

Originally posted by: bennylong

Originally posted by: slsmnaz

Originally posted by: dquan97

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

Then your budgeting skills are bad. $50k on that should be plenty, even cosidering a car payment too.

You do realize that $50k is considered very low income in San Francisco and qualify you for Section 8 housing(low income government housing assistance)?

Read the post I was quoting. I'll wait...

A $225k mortgage on $50k a year should be very reasonable. Rough estimate is $1300 payment from over $3k takehome pay. If you can't do that then your budgeting skills are bad. I stand by my statement.

 

[Kelvrick]

Originally posted by: bennylong

Originally posted by: slsmnaz

Originally posted by: dquan97

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

Then your budgeting skills are bad. $50k on that should be plenty, even cosidering a car payment too.

You do realize that $50k is considered very low income in San Francisco and qualify you for Section 8 housing(low income government housing assistance)?

SF is a different beast from Sacramento though.

 

[bennylong]

Originally posted by: slsmnaz

Originally posted by: bennylong

Originally posted by: slsmnaz

Originally posted by: dquan97

Originally posted by: Demon-Xanth

Originally posted by: compuwiz1

Originally posted by: mrchan

Originally posted by: Demon-Xanth
<-- makes about the same as notfred and lives in the same area.

I'm looking at getting into a town house, it won't be good and it'll be pushing it. But prices have been slowly falling.

There will be a new 1500 sq ft house @ about $300k in the W. Sac area soon. PM if interested.

Will 37,625 per year buy that?

If you devote 100% of your take home pay, that's about right. (literally)

$37K/yr doesn't buy much in Sac. Even at $50K, I have a tough time affording my $225K mortgage.

Then your budgeting skills are bad. $50k on that should be plenty, even cosidering a car payment too.

You do realize that $50k is considered very low income in San Francisco and qualify you for Section 8 housing(low income government housing assistance)?

Read the post I was quoting. I'll wait...

A $225k mortgage on $50k a year should be very reasonable. Rough estimate is $1300 payment from over $3k takehome pay. If you can't do that then your budgeting skills are bad. I stand by my statement.

Aahahaha. That's too funny. It would work if you don't have a car and never eat out and never pay property taxes.

And a $225k mortage at today's mortage rate is over $1,450.00, we're not even talking about property taxes.

Principal Loan Balance: $225,000.00
Annual Interest Rate: 6.75%
Amortization Length: 30 years
Calculate Again
Summary of Payments and Interest

Monthly Payment: $1,459.35