Comments on: Burning down the house…

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Sun, 19 Oct 2008 01:12:04 +0000

[...] S. Weasel [...]

By: S. Weasel

S. Weasel — Thu, 02 Oct 2008 23:31:06 +0000

It got so hot here the year I bought, if a house was listed at $100K, you’d offer $110K to keep some scumbag from buying it out from under you (which happened to me on my first attempt to buy a house). It was thoroughly nuts.

My sellers were assholes. I got in WAY over my head (I was able to buy a house I couldn’t afford because I had scraped together a better-than-average down payment) and I was in the shit for years.

The day I closed on the house, I bought myself a little celebratory bottle of Jack Daniel’s, pulled into the driveway of my house (my house!), got out of the car…and dropped the whisky. It shattered into a zillion wet pieces.

I really resent the lack of subtlety in modern metaphors.

By: S. Weasel

S. Weasel — Thu, 02 Oct 2008 23:26:11 +0000

I bought at the top of the biggest real estate spike Rhode Island has ever seen (houses were undervalued but went up — no shit — 50% in the year before I bought). There was (of course) a crash soon afterward, so I was in negative equity for a decade. Since which I refinanced twice to cover basic but large maintenance expenses (like the roof), I took out an equity loan and…I will do a couple thou better than break-even after I pay off the real estate agent, the fees and the movers. And sell my car and guns and shit.

So it’s far worse than my hopes but far better than my fears.

By: Blake

Blake — Thu, 02 Oct 2008 23:14:32 +0000

And I live in a hovel.

By: Blake

Blake — Thu, 02 Oct 2008 23:13:49 +0000

I don’t get how you could live in the same place for 20 years and not have more equity. Shouldn’t you be, uh, equitized about 25-40%, in that range? If the price just stayed the same? (And you didn’t refinance.)

Granted, I tend to have a distorted view out here in SoCal. I could look at it like $250K was stolen from me, but that $250K was funny money anyway. I expect to “lose” another $100-$150K before it’s all over.

By: Hector Owen

Hector Owen — Fri, 26 Sep 2008 22:48:11 +0000

Sell them fast if you can; the bridge will be going to EZ-Pass as fast as can be done. By New Year’s, they say, for sure.

By: S. Weasel

S. Weasel — Fri, 26 Sep 2008 22:37:49 +0000

Newport! Beautiful newport. I’m going to quit town with a glovebox full of bridge tokens, if I’m not careful…

By: Hector Owen

Hector Owen — Fri, 26 Sep 2008 22:33:55 +0000

Thanks for that from a fan in Newport. Linked it. Best wishes on the move.

By: Allen

Allen — Fri, 26 Sep 2008 15:54:58 +0000

Yeah, that's my summer hat. On the right is Greyhawk, and on the left is Grim from Blackfive. Grim has his own separate blog as well, Grim's Hall I had way too many cigars on that little roadtrip. But what the hell it's Vegas. You know what they say, "What happens in Vegas, hopefully doesn't follow you home to humiliate the hell out of you." Or, something like that.

By: S. Weasel

S. Weasel — Fri, 26 Sep 2008 15:45:45 +0000

You’re the lanky dude in the white hat? Cool. None of the pictures are labeled, so I had no idea who was who (not that I’m blaming anybody. I hate my picture escaping onto the ‘net).