House Plac: From Bag End to Balls Deep

Building Bag End? Did your front fall off? More leaks than a Chinese steamboat? Show us your pinterest projects!
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Apex wrote: Wed Jul 11, 2018 9:33 am
Tarspin wrote: Wed Jul 11, 2018 9:27 am

We can do fixed but it's almost a point higher and caps at 5yr commitment. So every five years the rate gets renegotiated on the balance.
Interesting... Here in the US we can go up to a 30 year fixed rate.

:themoreyouknow:
:impressive:
That would take the guess work out of payments. I bet the rates are higher for a guarantee like that. The best fixed I've seen on a give year lock in is 3.44%
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Checking out another house tonight...this one hasn't officially hit Zillow yet even.

:popcorn:
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Tarspin wrote: Wed Jul 11, 2018 9:37 am
Apex wrote: Wed Jul 11, 2018 9:33 am

Interesting... Here in the US we can go up to a 30 year fixed rate.

:themoreyouknow:
:impressive:
That would take the guess work out of payments. I bet the rates are higher for a guarantee like that. The best fixed I've seen on a give year lock in is 3.44%
A very quick look shows 30 year rates around 4.5-4.625%
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Detroit wrote: Wed Jul 11, 2018 9:41 am Checking out another house tonight...this one hasn't officially hit Zillow yet even.

:popcorn:
:ohmy: :popcorn:
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Tarspin wrote: Wed Jul 11, 2018 8:54 am
Big Brain Bradley wrote: Wed Jul 11, 2018 8:17 am

oh, 25-30 year loan makes more sense, but the logic still holds water.
They offer a 3 yr or 5 yr guarantee on rates. The three is sometimes cheaper but i always go with a longer timeframe
wait, you are going Variable rate?!?! :wtf:
Tarspin wrote: Wed Jul 11, 2018 9:27 am
Apex wrote: Wed Jul 11, 2018 8:59 am

Canadia doesn't do long term fixed rate? Ie. 15, 20, or 30 year notes?
We can do fixed but it's almost a point higher and caps at 5yr commitment. So every five years the rate gets renegotiated on the balance.
what....what the actual fuck?
Detroit wrote: Wed Jul 11, 2018 9:41 am Checking out another house tonight...this one hasn't officially hit Zillow yet even.

:popcorn:
you are now buying a house no matter what, congrats. :disgust:
brain go brrrrrr
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Big Brain Bradley wrote: Wed Jul 11, 2018 10:05 am
Tarspin wrote: Wed Jul 11, 2018 8:54 am

They offer a 3 yr or 5 yr guarantee on rates. The three is sometimes cheaper but i always go with a longer timeframe
wait, you are going Variable rate?!?! :wtf:
Tarspin wrote: Wed Jul 11, 2018 9:27 am

We can do fixed but it's almost a point higher and caps at 5yr commitment. So every five years the rate gets renegotiated on the balance.
what....what the actual fuck?
Detroit wrote: Wed Jul 11, 2018 9:41 am Checking out another house tonight...this one hasn't officially hit Zillow yet even.

:popcorn:
you are now buying a house no matter what, congrats. :disgust:
Umm yeah, thats the plan :salty: :fax:

This isn't airboat country, i will likely make some solid gains dude. We are talking about one of the top three hottest resort destinations within a five hour drive of Toronto/Detroit. Property prices are rapidly catching up to the rest of the province and need another 200k to get there.
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brb. buying a pintrest palace in the mountains.

:fuckyeah:

https://www.zillow.com/homedetails/822- ... lpage=true

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Also, variable rates aren't going to be moving much in the next 5 yrs. Probably up a quarter point a couple of times. We can option to lock in fixed rate after the fact. Breaking a variable only costs three months of interest payments here.
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Tarspin wrote: Wed Jul 11, 2018 10:49 am

Umm yeah, thats the plan :salty: :fax:

i was quoting dplac

my :wtf: for you is this weird non-fix but fixed interest rate you are talking about
brain go brrrrrr
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Big Brain Bradley wrote: Wed Jul 11, 2018 10:05 am
Tarspin wrote: Wed Jul 11, 2018 8:54 am

They offer a 3 yr or 5 yr guarantee on rates. The three is sometimes cheaper but i always go with a longer timeframe
wait, you are going Variable rate?!?! :wtf:
Tarspin wrote: Wed Jul 11, 2018 9:27 am

We can do fixed but it's almost a point higher and caps at 5yr commitment. So every five years the rate gets renegotiated on the balance.
what....what the actual fuck?
Detroit wrote: Wed Jul 11, 2018 9:41 am Checking out another house tonight...this one hasn't officially hit Zillow yet even.

:popcorn:
you are now buying a house no matter what, congrats. :disgust:
JUST PAY NO MIND TO 2008. EVERYONE NEEDS MORE HOUSES.
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Big Brain Bradley wrote: Wed Jul 11, 2018 11:20 am
Tarspin wrote: Wed Jul 11, 2018 10:49 am

Umm yeah, thats the plan :salty: :fax:

i was quoting dplac

my :wtf: for you is this weird non-fix but fixed interest rate you are talking about
Haha it's so hard to keep track with your :wtf: but i read that afterwards and felt like saying sorry.

Would you go fixed, i assume you are in the :doomed: mindset for housing, so any minute now we will have imploding property values and interest rates of 18-25%?
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dubshow wrote: Wed Jul 11, 2018 11:23 am
Big Brain Bradley wrote: Wed Jul 11, 2018 10:05 am

wait, you are going Variable rate?!?! :wtf:



what....what the actual fuck?



you are now buying a house no matter what, congrats. :disgust:
JUST PAY NO MIND TO 2008. EVERYONE NEEDS MORE HOUSES.
My feelz are that 2008 was a serious and proper reset. It will be a while before we have another one. :thisisfine: 😁
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Tarspin wrote: Wed Jul 11, 2018 11:26 am
Big Brain Bradley wrote: Wed Jul 11, 2018 11:20 am

i was quoting dplac

my :wtf: for you is this weird non-fix but fixed interest rate you are talking about
Haha it's so hard to keep track with your :wtf: but i read that afterwards and felt like saying sorry.

Would you go fixed, i assume you are in the :doomed: mindset for housing, so any minute now we will have imploding property values and interest rates of 18-25%?
i 100% would go fixed, one because it allows you to plan in insulates to to a degree from inflation and 2, yes interest rates have been historically low for a long time now and they will have to go up at some point.
brain go brrrrrr
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dubshow wrote: Wed Jul 11, 2018 11:01 am brb. buying a pintrest palace in the mountains.

:fuckyeah:

https://www.zillow.com/homedetails/822- ... lpage=true

Image
:fax: found :dat:

:fax: wants :dat:
:drool:
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Big Brain Bradley wrote: Wed Jul 11, 2018 11:30 am
Tarspin wrote: Wed Jul 11, 2018 11:26 am

Haha it's so hard to keep track with your :wtf: but i read that afterwards and felt like saying sorry.

Would you go fixed, i assume you are in the :doomed: mindset for housing, so any minute now we will have imploding property values and interest rates of 18-25%?
i 100% would go fixed, one because it allows you to plan in insulates to to a degree from inflation and 2, yes interest rates have been historically low for a long time now and they will have to go up at some point.
Fed Funds rate is projected to increase 150bps, or 1.50% over the next 18-24 months.
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Apex wrote: Wed Jul 11, 2018 11:37 am
Big Brain Bradley wrote: Wed Jul 11, 2018 11:30 am

i 100% would go fixed, one because it allows you to plan in insulates to to a degree from inflation and 2, yes interest rates have been historically low for a long time now and they will have to go up at some point.
Fed Funds rate is projected to increase 150bps, or 1.50% over the next 18-24 months.
Oh man, 1.5% would be a shocker, that sounds aggressive. I better look at projected estimates are here. :like:
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Tarspin wrote: Wed Jul 11, 2018 12:38 am Mortgage on the beach house is currently sitting at 2.65%, variable on a 5 yr. I'm pushing to find lower tomorrow but i think I'm scraping the bottom. The absolute moronic thing about lenders is that if I didn't dig up 20% I probably would have secured an even lower rate. Like another 0.2%. Why the fuck would a bank want to give a better rate to someone with less skin in the game??
wut
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Tarspin wrote: Wed Jul 11, 2018 12:13 pm
Apex wrote: Wed Jul 11, 2018 11:37 am

Fed Funds rate is projected to increase 150bps, or 1.50% over the next 18-24 months.
Oh man, 1.5% would be a shocker, that sounds aggressive. I better look at projected estimates are here. :like:
I'll share some :illuminati: knowledge where I can!
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Desertbreh wrote: Wed Jul 11, 2018 12:24 pm
Tarspin wrote: Wed Jul 11, 2018 12:38 am Mortgage on the beach house is currently sitting at 2.65%, variable on a 5 yr. I'm pushing to find lower tomorrow but i think I'm scraping the bottom. The absolute moronic thing about lenders is that if I didn't dig up 20% I probably would have secured an even lower rate. Like another 0.2%. Why the fuck would a bank want to give a better rate to someone with less skin in the game??
wut
:dat:
Something about insured loan vs 20% down and qualifying for an uninsured loan.
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Apex wrote: Wed Jul 11, 2018 12:50 pm
Tarspin wrote: Wed Jul 11, 2018 12:13 pm

Oh man, 1.5% would be a shocker, that sounds aggressive. I better look at projected estimates are here. :like:
I'll share some :illuminati: knowledge where I can!
:impressive: , elitist connects are :fuckyeah:

Found a prime minus 1% variable so 2.45% vs fixed 3.45%

I wonder if we can absorb four rate hikes (that are always twenty five basis points at a time)? The Canadian interest rates typically don't move super fast but anything is possible if the US moves a full 1.5% in two years. Wow! It gives me pause on the variable front for sure.
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Tarspin wrote: Wed Jul 11, 2018 12:57 pm
Apex wrote: Wed Jul 11, 2018 12:50 pm

I'll share some :illuminati: knowledge where I can!
:impressive: , elitist connects are :fuckyeah:

Found a prime minus 1% variable so 2.45% vs fixed 3.45%

I wonder if we can absorb four rate hikes (that are always twenty five basis points at a time)? The Canadian interest rates typically don't move super fast but anything is possible if the US moves a full 1.5% in two years. Wow! It gives me pause on the variable front for sure.
Jumps are typically done in multiples of 25bps. Ie. either 25 or 50 basis points at a time. Rates are still low enough where I'd only be expecting 25bps at a time.
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Welp, another offer placed. House is perfect in every way for us. Massive yard, massive garage (2.5 car, deep with a loft), small houses sq ft for the area, :tits: "dream kitchen".

:waxer: but YOLO I guess. This thing will never drop in value, even in a down turn it's a super desirable area. Our current house is at its max, we want to cash out while we can.

https://www.zillow.com/homedetails/15-P ... lpage=true

Current owner of new house had to have her leg aputated due to a bone infection (hence the ramp), so they're motivated to sell. Under any other circumstance, this would be over 500k.

:popcorn:
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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That is very yellow.

Otherwise :notbad: :like:
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Apex wrote: Thu Jul 12, 2018 9:00 am That is very yellow.

Otherwise :notbad: :like:
Fucking McDonald's color scheme on the outside is pretty bad, but whatever. Paint is NBD. Hopefully it deters others. It is stucco on most, so maybe it could be sand blasted.

New furnace, AC, windows, roof. It just needs some cosmetic freshening, which is NBD to us. Could paint the bish in a week.
Desertbreh wrote: Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Detroit wrote: Thu Jul 12, 2018 9:05 am
Apex wrote: Thu Jul 12, 2018 9:00 am That is very yellow.

Otherwise :notbad: :like:
Fucking McDonald's color scheme on the outside is pretty bad, but whatever. Paint is NBD. Hopefully it deters others. It is stucco on most, so maybe it could be sand blasted.

New furnace, AC, windows, roof. It just needs some cosmetic freshening, which is NBD to us. Could paint the bish in a week.
I don't know why so many houses I see are yellow... :lol: But in reality, painting something like that isn't a huge deal. Hopefully it deters others and you guys can get it! Sounds like it's a solid house, just needs some paint/pinshit.
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