House Hunters

[dmclone]

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?

 

[brianhos]

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?

Massive debt!

 

[Wesley]

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?

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.

 

[CloneBack]

Massive debt!

An interest only loan.

 

[cyrocksmypants]

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.

 

[dmclone]

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.

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.

 

[SvrWxCy]

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.

 

[dmclone]

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.

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.

 

[ericlambi]

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.

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.

 

[CycloneGamecock]

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

 

[simply1]

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.

What size downpayment? Large dp would certainly help.

 

[MeanDean]

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.
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.