I refinanced around a couple of years ago as well and ended up with 2.5%. I felt that was rock bottom at that time, and it turned out to be the case. Looking back, that was one of the best “bets” I have made to date. It would have made sense to refinance regardless, but I really hit the nail on the head with timing.
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investors. investors make up 33% of all new purchases.
I can appreciate that but it’s a tough pill to swallow knowing I would be paying hundreds of dollars extra per month with todays rates.
I think I’d have a much easier time if I were currently renting or looking to purchase a first home. “You can’t miss what you didn’t have” sort of situation.
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True. We have had 15% rates as well. But starter homes were 70k not 470k back then.
You could buy homes for 70k? When? Where? How?
Mine was 440k back then…
$52k, brand new, today.
https://www.zillow.com/homedetails/807-Sunset-Blvd-Columbus-OH-43223/2061761827_zpid/
But I expect to hear: 1) you won’t live in that type of home, 2) you won’t move to a part of the country with affordable housing, 3) it’s not big enough / doesn’t have a 9-car garage, etc., or 4) all of the above.
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In my development (suburbs of Philly) 3000 sq ft homes still going for 750-800k, high water mark was home that settled in July 2022 for 790k. Home last week pending in 8 days at 750k listing with less amenities. Not sure how many people are paying full cash these days but the higher rates have seem to slow the amount of offers but pricing is still there. Hearing over asking STILL occurring (as of last week) for the right priced home with the right location and amenities.
jesus trailers are going for $52k now? this fucking market is out of this world.
Well, it’s the size of my first apartment that I paid $190k pre 2008 crash😂 so don’t see the issue and these days you can do remote WFH even with Starlink if nessesary to have internet.
That’s about 30 miles from me lol - but you can’t go wrong with Sunset blvd 
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HOA is $450/mn that would be more than the mortgage payment and It is a 55+ community. Personally, I lived a few miles from there years ago and I’d be most worried about my safety.
Right next to a hospital for crazies and the cemetery. Perfect investment for my retirement plan. And it’s only 2 min away from my current house!
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get the fuck out of here. in a mod trailer home park for senior citizens?
holy shit you’re right!
HOA and financial details
HOA
- Has HOA: Yes
- HOA fee: $450 monthly
- Services included: Snow Removal, Trash
this must be another Warren Buffet community. that is criminal. they don’t even get cable with HBO!
Man, the snow removal in the winter (assuming it’s done hourly) it’s well worth it 
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That same trailer would be $152K here on the left coast, and that is fair rent…more like $650 here, likely fire insurance.
whats rent got to do with it?
‘HOA’=space rent in mobile land. At least you don’t pay outrageous property taxes.
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ah i see what you meant.