Topic: Any tips for a first time home buyer?

[Berto2K]

Holy crap that a cheap house.... Here in CA (at least in the Bay Area), there is just about nothing below $500k for a house. If I ever leave this state, it would be very hard to move back in.

[ShyGuy]

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Originally posted by: Berto2K
Holy crap that a cheap house.... Here in CA (at least in the Bay Area), there is just about nothing below $500k for a house. If I ever leave this state, it would be very hard to move back in.

http://www.realtor.com/search/searchresults.aspx?ctid=2754&mxp=20&typ=1

[Nick DiMola]

Quote
Originally posted by: Berto2K
Holy crap that a cheap house.... Here in CA (at least in the Bay Area), there is just about nothing below $500k for a house. If I ever leave this state, it would be very hard to move back in.

Yeah Cali is ridiculous. I watch alot of those HGTV shows and they show people about to buy houses there for around $750k. A comparable house here is about $200k. Even better, down in the Carolinas a comparable house is around $130-150k. I think you'd have to be insane to buy real estate in Cali at those prices. I'd take my cash and move to the south east and get more bang for my buck. The weather would probably be comparable too which would definitely make adjusting easier. Oh well, to each his own.

[Berto2K]

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Originally posted by: ShyGuy

http://www.realtor.com/search/searchresults.aspx?ctid=2754&mxp=20&typ=1

Ouch, my wallet just jabbed me.  I could almost afford one of those on a year's income if I had no bills or didn't need to eat.

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Originally posted by: Mr. Jack

Yeah Cali is ridiculous. I watch alot of those HGTV shows and they show people about to buy houses there for around $750k. A comparable house here is about $200k. Even better, down in the Carolinas a comparable house is around $130-150k. I think you'd have to be insane to buy real estate in Cali at those prices. I'd take my cash and move to the south east and get more bang for my buck. The weather would probably be comparable too which would definitely make adjusting easier. Oh well, to each his own.

Ya, and those $500k homes are single story too. Its weird, because in most places, that will give you a unfurnished house. But if you go into the central Valley area (Frenso, etc.) you can pay the same and get a furnished house. Of course it varies by where you are in the state too.

I'd have to have a pretty compelling reason to leave CA I think.  Its nice being out here and being able to get to either the snow, beach, or desert within a few hours. Plus all the tech companies are right here (San Jose).

 

[BlackNMild2k1]

Lets compare what you can get in Spokane, WA vs what you can get for the same price in San Jose, CA.

Spokane, WA - $420k <-- Best Case Scenario

San Jose, CA - $420k          <--Worst Case Scenario

Where would you live?

Remember San Jose is minutes away from some really good beaches, hours away from some really good snowy mountains, and don't forget the the girls the clubs and the money. You are close enough to anything that you want to do, recreation, social or financial.

Spokane..... the peace, the quiet and the space?  

[Berto2K]

Quote
Originally posted by: BlackNMild2k1

San Jose, CA - $420k          <--Worst Case Scenario

LOL that house is only about 20 minutes (14 miles) from my house via mostly freeway. And look at the build date on it too...1960!

[Nick DiMola]

Well I finally found a house that should definitely go through! Just have to wait for my mortgage to get approved and I'm ready to go. Time to get packing. Once I get in I'll probably be making a video on youtube to show various people the interior of the house, when that happens I'll throw a link up on here.

[Nick DiMola]

Well looks like after the inspection revealed some issues, and the seller would not make concessions, I am forced to walk away from this house, losing about $1500 and a couple months of time. Stubborn assholes really piss me off, especially when they cause me to lose money. In the mean time, I need to make accommodations with my landlord to stay for some unknown amount of time, which will also cause me to lose around $50 a month because I will have to rent monthly until I find something else. 

[Ceric]

I'm surprised you lost money.

[vudu]

Don't feel bad.  I know someone who lost $10K after a similar experience.

[Nick DiMola]

I'm surprised you lost money.

Well the loss of money is related to the cost of the appraisal, mortgage application and brokerage service, as well as the inspection and lawyer fees. I guess it's more like poorly invested money rather than a flat loss, but considering it was all for naught it may as well be a loss.

As you mentioned vudu, at least it isn't $10k so I'm not sweating it that much, just kind of sucks.