House Hunters

Discussion in 'Off-Topic' started by dmclone, Dec 22, 2010.

  1. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    Anyone else watch this? I like the international shows the best.

    Right now I'm watching one on Palo Alto, CA and the prices are amazing. Houses that would cost $200K in DM are going for $1.5 million even though were in a recession.

    So I thought I would do a little research:

    CNNMoney-Best places to live

    Palo Alto
    Median Family income=$132K
    Median home price=$929K

    Best place Average
    Median Family income=$76K
    Median home price=$260K


    How does this work?
     
  2. brianhos

    brianhos Moderator
    Staff Member Bookie

    Jun 1, 2006
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    Computer geek
    Trenchtown
    Massive debt!
     
  3. Wesley

    Wesley Well-Known Member

    Apr 12, 2006
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    Omaha
    For one thing is if you sat in your Cal home awhile, the taxes are low. They could be as low as one third so money savings can go to pay interest. Not much to heat and cool.
     
  4. CloneBack

    CloneBack Member

    Apr 17, 2007
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    West Des Moines
    An interest only loan.
     
  5. cyrocksmypants

    cyrocksmypants Well-Known Member

    Dec 29, 2008
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    Being Totally Awesome
    Honolulu, HI
    I love HH International. Just seeing the views of all of the islands or European countries. I guess it's a daydream of what I would want. On the flipside, it disgusts me to watch these people buy a 1.5 million dollar vacation home in the Carribeans and things of the like.
     
  6. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    I saw a guy last week that was looking at 40K homes in an Italy countryside. It was refreshing and scary at the same time.
     
  7. SvrWxCy

    SvrWxCy Well-Known Member

    Aug 6, 2010
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    The wife and I watch the show all the time! I always get disgusted watching the International version as people buy multi-million dollar homes to spend just a few weeks there during the year...

    You can learn some things though, which is why we started watching it this Fall as we are looking to purchase a home early next year. There are some episodes where the price range is still $200-$400k and out of range for most, but there are still quite a few that are under $200k and more reasonable to watch.
     
  8. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    Even if you pay $0 in taxes, just the payment and interest on a 30 year loan $800K loan is over $4k/month. For me to be comfortable with those types of payments I would need to make at least $500K/year to be comfortable.
     
  9. ericlambi

    ericlambi Well-Known Member

    Mar 24, 2006
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    That seems a little off. If you are making $500k/year you are taking home something like $300k/year. You can't afford $48k in mortgage payments? And that is before a mortgage interest deduction (if you qualify for one). I think you can do an $800k home pretty comfortably on ~$300k/year. I guess that assumes you don't have some other huge expenses, like student loans from medical school or something.
     
  10. CycloneGamecock

    Apr 13, 2006
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    I love this show, I agree with the above though its sickening to watch some episodes of the International version.
     
  11. simply1

    simply1 Well-Known Member

    Jun 10, 2009
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    Portland, OR
    What size downpayment? Large dp would certainly help.
     
  12. MeanDean

    MeanDean Well-Known Member

    Jan 5, 2009
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    Retired Civil Engineer
    Clarence IA-Jensen Beach FL
    #12 MeanDean, Dec 22, 2010
    Last edited: Dec 22, 2010
    I like the international when they are looking in Coastal/Caribbean or other Island locations. I'd love to find a place with a spectacular water view. With a very few exceptions I would worry about a significant home investment in some Latin American, Middle Eastern, or Southeast Asian countries. I saw one where a guy was moving to Hanoi?! Another to Nicaragua. I guess I've just paid too much attention to historical unrest in some of these places

    I'm in Florida now looking for a retirement place to spend winters and be a snow bird. There are a butt-load of places for sale here in the Tampa area and the prices are quite reasonable. You can get a house similar to one in Iowa for about 75 cents on the dollar if not less. Of course anything with a Gulf, Bay, or Intra-coastal view is a premium.

    Also have a place in Iowa I need to sell before I can get serious. :confused:
    Anybody need a nice 3 bedroom on a beautiful wooded lot in Blue Grass, give me a holler!

    It would be nice if the Big XII would get a Florida bowl tie-in, too.
     

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