Random Thoughts - Part III The Search for Spark (No Politics)

[NoHaveMSG]

Originally Posted by spike021

I think the main issue at this point is the interest rates being like 7.5%. If they can drop to like 3-4% or even better by January it would make this an easier decision. That's basically what's keeping me out of the area I'd prefer here.

They still plan to raise rates more to slow it down. I think we are 3 or 4 quarters into 8 that they planned on raising the base rate. It's been a while since I looked since I would like to refi when I can but figure I am a couple years out now at the least. Also keep in mind that the two universal drivers for home prices are demand and interest rate. Until the rate goes up enough to thin the pool of eligible buyers it's not going to get better since demand seems to be pretty high still. I wouldn't put a timeframe into buying. Just keep your eye out and if something pops up that fits it's a win.

[humfrz]

Originally Posted by NoHaveMSG

I aggravated my sciatic pretty bad helping my buddy dig a trench to lay the new pipe for his new well. Can't hardly drive, sit, or stand from a seated position. Once I am up and moving I am mostly okay but what a MF'er. Made coming in to work at 4:30am to finish an order a ordeal.

Yikes, I know that can be painful. A while back, I had to go for about 6 weeks NOT sitting down. Standing or laying down were my only non painful options. I remember eating Thanksgiving dinner standing up.

My real estate partner had to do all the driving. I would just lay down in the passenger seat of her Mercedes. She would look down at me from time to time and say "I don't know WHY I bring you along"?

I hope your condition improves soon.

[humfrz]

Originally Posted by Sapphireho

San Jose is one giant suburb, by design.

Just all the orchards vanished over the years.

Yep, San Jose was in a beautiful valley ...... before it got siliconized.

[humfrz]

Originally Posted by spike021

So many replies since last night, so I won't try to quote-reply/@-mention all of you's, lol.



But we'll see, still ~6 months until I'd start trying to look more seriously.

OK, back to basics. If you haven't already done so, I suggest you contact a mortgage lender and get a "pre-approval letter". NOT just a pre-qualification letter.

This will give you an idea of what house price range you are eligible for.

Don't forget to factor in taxes, insurance and any HOD.

Ask your lender what down payment would be required for that type of loan.

Now, jump on Zillow (or similar site) and start looking around.

When you find interesting candidates, we can go from there.

[NoHaveMSG]

Originally Posted by humfrz

I hope your condition improves soon.

It's been steadily getting better. I just keep having to remind myself to not overdue it.

[Spuds]

I find myself watching tiny dragonflies picking aphids off my flower baskets and cheering them on...

[spcmafia]

Originally Posted by spike021

So many replies since last night, so I won't try to quote-reply/@-mention all of you's, lol.

@humfrz yep we've had similar conversations on this topic here before.

My main considerations:

1. My current apartment isn't rent-controlled. I'm basically paying $3000/mo right now ($2800 for the rent itself, then $200 or so for utilities that the apartment management is a proxy for, like water, garbage, gas for the pool heater/hot water heater for my building, maintenance, etc.). This is my third year living here. Every year so far the rent has gone up 10%. So next year I'll likely be paying around $3300. It's a conglomerate place and they basically refuse to negotiate every year so far, but I'm also not into the idea of constantly switching apartments every year to find a lease worth $200 less per month or whatever. If I could find a decent place where the total monthly (mortgage + HOA) is maybe up to $4000 or even up to $4500 I think I'd be okay with it simply because like Spuds said (I think), a mortgage will basically stay the same (unless I refinance but that should only improve the monthly cost) whereas the rent will keep increasing and eventually get to that point anyway within 5 years.

2. Typically I stay pretty long-term in my apartments. When I was in downtown San Jose I lived there almost 9 years. I'll probably continue living here for now since other than the monthly rent it's a really great location. I think generally people say to only buy if you plan to stick around minimum 5 years, so that'd work well for me unless for some reason I screwed up my research and it's a bad place or I somehow lose my career and all savings (but I'd say that's a risk most people take on when buying unless they're completely rich).

3. Also, I was in my mid-20's 5 years ago I'm almost 31 now. Still young, of course, but also getting into the point where I don't see myself hugely changing my lifestyle I guess. I've basically had roots anyway so I don't see this kind of decision as an unexpected anchor that would keep me someplace I may want to leave.


As for the other comments like moving elsewhere where it's cheaper and you get more for your money, property-wise, while that's true I think there's still enough here in this area/state that I care about enough that it has value that makes staying worthwhile to me. I'm close to the beach/mountains, great driving roads, still in a tech center for as long as I stay in software, diversity in cultures and stuff that I know is much harder to find elsewhere.

I think the main issue at this point is the interest rates being like 7.5%. If they can drop to like 3-4% or even better by January it would make this an easier decision. That's basically what's keeping me out of the area I'd prefer here.

But we'll see, still ~6 months until I'd start trying to look more seriously.

Holy shit, that's more than my mortgage. Almost triple.



I believe you're a software engineer correct? Pretty sure my company would love to have you. CT is expensive, yes, but not CA expensive. In CT I would at least have one of you close haha.

[NoHaveMSG]

Originally Posted by spcmafia

Holy shit, that's more than my mortgage. Almost triple.



I believe you're a software engineer correct? Pretty sure my company would love to have you. CT is expensive, yes, but not CA expensive. In CT I would at least have one of you close haha.

I did not see that. It is over twice mine lol. Of course spike's apartment is probably a lot nicer than my house and probably just as big

[Ultramaroon]

Originally Posted by NoHaveMSG

I did not see that. It is over twice mine lol. Of course spike's apartment is probably a lot nicer than my house and probably just as big

Bay area is insane. Easily twice the rate as here.

[spike021]

Originally Posted by spcmafia

Holy shit, that's more than my mortgage. Almost triple.

I believe you're a software engineer correct? Pretty sure my company would love to have you. CT is expensive, yes, but not CA expensive. In CT I would at least have one of you close haha.

Yeah it's nuts! I think my current apartment is really only worth 1500-2000 max, but because of the area and how most people here are in tech they know they can get away with this. This isn't even the most expensive...

If i were to move to CT most likely I wouldn't be paid as much. We have offices in Atlanta and engineers there don't get paid as much either. So a good chunk of base salary is just proportional to cost of living for the area.

This rent is a good chunk of my income and I'm just grateful I can afford it at all. A lower-paying job would make it nearly impossible.

Originally Posted by NoHaveMSG

I did not see that. It is over twice mine lol. Of course spike's apartment is probably a lot nicer than my house and probably just as big

My apartment is just 1bed/1bath, 740ish sqft. It does have a dishwasher and built-in clothes washer/dryer, which is SUPER handy (my old place was super cheap but lacked convenient amenities).

The benefits to me are: nice quiet neighborhood, great area for haru, lots of great food options nearby, my favorite driving roads not even 15 mins away, etc.

Originally Posted by Ultramaroon

Bay area is insane. Easily twice the rate as here.

yeah, it's lame. I'd take a lower-paying job if it meant still getting to live here and enjoy the stuff I enjoy.

[ichitaka05]

Pass 2 weeks, I’ve ordered several T-shirt testing different printing provider with their printing quality. Conclusion… can’t take ppl’s rating to heart. Ordered from 2 different printing shops. One from 9.0 rating & other from 9.6 rating. 9.0 had better printing quality than 9.6 shop. I’m not just comparing 1 T-shirt. I’m comparing 3 printings each (so total of 6 tshirts).

[humfrz]

Originally Posted by spike021

...............

My apartment is just 1bed/1bath, 740ish sqft. It does have a dishwasher and built-in clothes washer/dryer, which is SUPER handy (my old place was super cheap but lacked convenient amenities).

The benefits to me are: nice quiet neighborhood, great area for haru, lots of great food options nearby, my favorite driving roads not even 15 mins away, etc.

Welp, spike021, that sounds like a pretty good situation to me, for a 30 some year old, single man -

There are other ways to build wealth besides real estate - so I'm told - but I just haven't been able to figure it out -

[Sapphireho]

Originally Posted by Ultramaroon

Bay area is insane. Easily twice the rate as here.

Found a comparable place to my house now in South bay. It is 16 times what I paid for my house 4 years ago.

[weederr33]

When I am having a bad day at work or it's just boring as shit, I like to remind myself that I'm actually pretty well off. I was reading some posts on the ol' interwebs of people bitching about having a hard time finding a job, affording X, Y, or Z, or having shitty working conditions. Then I start thinking about my job. I can afford most of what I need (though I do have to plan around some things), my job security is pretty good, and no one is breathing down my neck. All in all, I get paid to do a pretty awesome job. It's always interesting to put things into perspective.