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Holy poo interest rates are low right now...


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#46 Jase

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Posted 04 January 2012 - 02:37 PM

I am convince that if a realtor can do it, anybody can do it.


yep, lol, you just have to make sure to take into account things like achitectural & land features that aren't in the county records. And then assign values to them. It isn't just straight up $/sqft.

#47 pantherfan49

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Posted 04 January 2012 - 02:44 PM

yep, lol, you just have to make sure to take into account things like achitectural & land features that aren't in the county records. And then assign values to them. It isn't just straight up $/sqft.


Architectural features aren't a problem since most homes now are cookie cutter, cheap work product.

As far as land features, just make sure you aren't near the highway, a cattle farm, etc, and maybe bump up just a bit if you are in a culdesac or have a larger than normal lot. Not exactly rocket science.

#48 Niner National

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Posted 04 January 2012 - 03:09 PM

is there anything, site wise that's close to knowing what your house might really be worth...I've heard that Zillow blows goats


Try Trulia.

#49 Mrs Pantherfan

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Posted 04 January 2012 - 03:16 PM

that one is a little better but there's absolutely no way we can sell right now..we'd have to rent if we wanted to move. ...and renting scares the sh*t out of me..

#50 Jase

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Posted 04 January 2012 - 03:27 PM

trulia has my 3-BR listed as a 4-BR and it's comparables are $30k higher than my house's astronomical tax value.

#51 Boner Champ

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Posted 04 January 2012 - 03:29 PM

"good debt" i.e. student loans, mortgage, etc.... Is a misconception, there is no such thing as good debt. That is a word made up by credit companies. Screw a credit score. If you are debt free, have no bills, everything you make will goto your pocket (or to hookers and blow)

#52 Niner National

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Posted 04 January 2012 - 03:53 PM

trulia has my 3-BR listed as a 4-BR and it's comparables are $30k higher than my house's astronomical tax value.


Has the townhome I just bought almost spot on.

#53 Carolina Husker

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Posted 04 January 2012 - 04:30 PM

I just re-fied my mortgage last week from 4.75% to 3.625%. Saves me $105 on my minimum payment.

Anybody paying ahead on their mortgage? Have a plan to pay it off early? What is it? I have a plan where I increase my monthly payment by $50/year. Seems to be working great so far. My goal is to be mortgage-free by the time my daughter enters college (2028, 19 years from origination).

Home values seem to be sinking again. Checked zillow yesterday and from december to january my house value dropped 3.5%, and has dropped 8.3% from its 2011 peak.


Care to say who you used to refinance? I'm in the same boat and about to hit 20% equity, so getting a lower rate and losing my PMI would be awesome.

#54 Jase

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Posted 04 January 2012 - 04:35 PM

I have a private mortgage from an individual who will honor a rate quote from any bank, so I can't be of much help to you there.

#55 pantherfan49

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Posted 04 January 2012 - 04:37 PM

Care to say who you used to refinance? I'm in the same boat and about to hit 20% equity, so getting a lower rate and losing my PMI would be awesome.


where are you located at?

#56 pantherfan49

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Posted 04 January 2012 - 04:39 PM

Care to say who you used to refinance? I'm in the same boat and about to hit 20% equity, so getting a lower rate and losing my PMI would be awesome.


also, when you get to 22% equity, the PMI disappears.

For most of us, the 7/1 ARM is the best option out there. You get the low rate associated with an ARM and the chances of you being in that house at year 8 are relatively low.

#57 Carolina Husker

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Posted 04 January 2012 - 04:43 PM

where are you located at?


Charlotte.

#58 Panthro

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Posted 04 January 2012 - 04:44 PM

Home values seem to be sinking again. Checked zillow yesterday and from december to january my house value dropped 3.5%, and has dropped 8.3% from its 2011 peak.


ive read how wildly inaccurate Zillow is.

#59 Carolina Husker

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Posted 04 January 2012 - 04:51 PM

It's off about 10-15% in my neighborhood from what I can tell.

#60 MadHatter

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Posted 04 January 2012 - 05:22 PM

I just re-fied my mortgage last week from 4.75% to 3.625%. Saves me $105 on my minimum payment.

Anybody paying ahead on their mortgage? Have a plan to pay it off early? What is it? I have a plan where I increase my monthly payment by $50/year. Seems to be working great so far. My goal is to be mortgage-free by the time my daughter enters college (2028, 19 years from origination).

Home values seem to be sinking again. Checked zillow yesterday and from december to january my house value dropped 3.5%, and has dropped 8.3% from its 2011 peak.


If you have a fixed mortgage at those low rates, you are CRAZY for wanting to pay it off early.

You are paying an effective interest rate of less than 3% (given the tax dedictibility of the interest)

You would be much better served to take the additional amount that you would pay and invest it. Over a 20 year period, the market will return much more than a 3% return.

Jsut a thought.


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