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CU Medallion [60234]
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Oculus Spirit [81078]
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CU Medallion [60234]
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On Monday, October 23, 2023, national average 30-year fixed mortgage APR is 8.03
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Oct 23, 2023, 9:51 AM
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first line of your link.
I know you can get some below 8%. Far cry from the <3% a couple years ago.
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Oculus Spirit [81078]
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Houses prices are a far cray from where they were 3 years ago
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Oct 23, 2023, 10:00 AM
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too.
A house under a million on Isle of Palms...lulz. Never again in my lifetime.
First rate I see from Bankrate.com is 6.625%.
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All-In [31518]
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Re: Mortgage rates officially hit 8 percent
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Oct 23, 2023, 9:48 AM
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I got in a 7-1 ARM this summer. The clock is ticking baby, let that recession happen and lets slash some rates.
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Lot o points [155948]
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Glad youre a rocket surgeon, cause
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Oct 23, 2023, 9:48 AM
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It’ll be 12 when that arm’s fixed period ends.
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All-In [31518]
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Re: Glad youre a rocket surgeon, cause
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Oct 23, 2023, 9:58 AM
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I’ll burn my documents and flee the country before I pay 12% interest
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Lot o points [163012]
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LOL. My first loan in 1980ish was 12% negative amoritzation
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Oct 23, 2023, 11:47 AM
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which means it really was more than 12%.
And I was happy to get it.
House costs $60k though.
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Hall of Famer [24108]
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Re: LOL. My first loan in 1980ish was 12% negative amoritzation
Nov 8, 2023, 3:31 PM
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I remember when we moved from the Upstate to the Midlands in the 90s, my parents bought at 8 percent. They thought that was pretty good. All perspective.
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Heisman Winner [135980]
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Maybe it will slow the southern invasion***
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Oct 23, 2023, 9:49 AM
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Lot o points [163012]
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Neighbor just sold their house for $600,000 cash
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Oct 23, 2023, 11:50 AM
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or about $333 per sq ft and new houses are still being built for about the same price.
I don't get it. We paid about $160 per sq ft Feb 2019, the good ole days.
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Oculus Spirit [85339]
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6 years before that, we built ours for $82-$83***
Oct 23, 2023, 1:32 PM
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Oculus Spirit [81078]
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Its crazy to see what houses have done in just 3 years.
Oct 23, 2023, 1:49 PM
[ in reply to Neighbor just sold their house for $600,000 cash ] |
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When I was renting on Isle of Palms I looked at buying this house, but felt it was too much for how big the house was and how much work it needed.
https://www.zillow.com/homedetails/25-21st-Ave-Isle-Of-Palms-SC-29451/10935333_zpid/
Looking back, I should have bought every one of those houses for sale at that price. That Zestimate is probably a little low now. In reality it's prob closer to that $1.2-$1.3 million range, which would essentially be doubling the price in just 2.5 years.
I've mentioned this one before:
https://www.zillow.com/homedetails/20-25th-Ave-Isle-Of-Palms-SC-29451/10936144_zpid/
That house was for sale $635K in 3/21. I put an offer for $655k the first day it was for sale, was out bid immediately, and it sold for $685K--$50K over asking. The owner, whether its a company of a person, has done absolutely nothing to it--the way it looks in pics is the way it looked in person for sale in 2021. They have never lived in the house--it has ben a rental since it sold; they only made payments for 2 years, and almost doubled their money with almost zero investment.
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All-In [46825]
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I get emails daily wanting us to refinance
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Oct 23, 2023, 9:54 AM
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and leave 2.8 for 8%
lulz
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All-In [40936]
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You might be able to lower your payment
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Oct 23, 2023, 9:54 AM
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if you spread it out long enough
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All-In [46825]
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I'm good where I am. Got one ####### neighbor but that
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Oct 23, 2023, 9:56 AM
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2.8 covers that.
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All-In [40936]
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I feel bad for one of my kids that wasn't able to buy a house pre covid
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Oct 23, 2023, 9:54 AM
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now it's tough for her. I told her to keep saving and not worry about it. The time will come soon when it will be a good buyers market.
I'm liking my 2% mortgage right now.
I bought a car a week or so ago and got 1.5% financing, which is like free money right now too.
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All-In [46825]
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####. At 1.5 I'll buy a new car as well.***
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Oct 23, 2023, 9:56 AM
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110%er [7004]
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Oculus Spirit [85339]
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You can get 0.9 right now if you finance a Honda Ridgeline for 24-36 MOs***
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Oct 23, 2023, 10:07 AM
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All-In [46825]
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That's because perverts and serial killers purchase Honda Ridgelines***
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Oct 23, 2023, 10:08 AM
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Lot o points [163012]
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And old guys who never owned a truck
Oct 23, 2023, 11:51 AM
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but I did sell mine about four months ago.
Tired of driving a truck.
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All-In [40936]
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36 months 1.5% Manufacturer Financing
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Oct 23, 2023, 10:20 AM
[ in reply to How did you swing 1.5?*** ] |
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huge payment, but I could have paid cash so it's not a big deal.
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Oculus Spirit [81078]
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All-In [40936]
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Lincoln***
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Oct 23, 2023, 10:21 AM
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Lot o points [155948]
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Man, I wish Id have been a slave back in the day
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Oct 23, 2023, 10:38 AM
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Ida been like “S my D, master! I ain’t picking no cotton! Then Ida hopped in my MF Lincoln and drove the F off. “
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Lot o points [155948]
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Woe the state of the lounge, when a man
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Oct 23, 2023, 1:11 PM
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Can’t even tee up an Eddie Murphy line and have it completed……
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All-In [31518]
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Re: Man, I wish Id have been a slave back in the day
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Oct 23, 2023, 1:13 PM
[ in reply to Man, I wish Id have been a slave back in the day ] |
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I was assuming this was some Gen X pop culture reference, but didn’t even know where to start googling to find out
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Hall of Famer [24108]
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Re: Man, I wish Id have been a slave back in the day
Nov 8, 2023, 3:52 PM
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Unfortunately, your generation decided to murder humor
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All-In [31518]
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Re: Man, I wish Id have been a slave back in the day
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Nov 8, 2023, 3:52 PM
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I find that extremely offensive.
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Orange Blooded [3389]
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We got a Toyota last month
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Oct 23, 2023, 10:24 AM
[ in reply to What brand of car? ] |
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for 2.9% 36 months through Toyota Finance.
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Oculus Spirit [85339]
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You owe a lot of money on your current home?
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Oct 23, 2023, 10:01 AM
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Interest rates don't care if you trading a house for a house.
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CU Medallion [60234]
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Re: You owe a lot of money on your current home?
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Oct 23, 2023, 10:31 AM
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I paid mine off about 3 years ago.
It's AMAZING how much different your bank account becomes without a monthly mortgage payment. Freedom from debt may be the greatest type of freedom.
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Legend [17294]
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Run that chart back to the 80s and then talk to the Boomers
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Oct 23, 2023, 11:44 AM
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Bought two houses in the 80’s …. 1st around 15% and the other over 10%.
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All-In [31518]
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Re: Run that chart back to the 80s and then talk to the Boomers
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Oct 23, 2023, 11:46 AM
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Must have sucked saving up for the down payment for that $80,000 house
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Oculus Spirit [81078]
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Yeah salary to house price ratio now isn't near as favorable
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Oct 23, 2023, 11:49 AM
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as it was 40 years ago. But of course, most houses were a lot smaller than they are now, too.
Unless you live in the old village in Mt Pleasant, and its the EXACT same 1100 sq ft houses from 1960 selling for a $1.5 million now.
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Orange Blooded [3227]
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Re: Mortgage rates officially hit 8 percent
Oct 23, 2023, 1:24 PM
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What do you think that will mean for the renters in this country? I was thinking about moving in a year or two and renting my place out.
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All-In [46825]
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Unless you have multiple houses for rent it's not worth it***
Oct 23, 2023, 1:27 PM
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Orange Blooded [3227]
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Re: Unless you have multiple houses for rent it's not worth it***
Oct 23, 2023, 1:30 PM
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I wasnt thinking about living off of the money. I was just wondering about rents generally. I may be renting if I move away as well with these interest rates. I just dont want to sell due to investment.
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Oculus Spirit [81078]
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Interest rates aren't going down any time soon.
Oct 23, 2023, 1:33 PM
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Theyt may never get under 4-5% again. And housing prices will never again be what they were in 2019.
I wouldn't sell unless you have to. If you can afford to keep it and rent it out and buy somewhere else, that would be the best answer IMO.
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All-In [31518]
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Re: Interest rates aren't going down any time soon.
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Oct 23, 2023, 1:45 PM
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Think the US Gov is going to keep paying 5% on 10 year T notes? Rates will come back down, and it won’t be that long before they do.
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Oculus Spirit [81078]
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If they do..house prices will double again.***
Oct 23, 2023, 1:50 PM
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Orange Blooded [3227]
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Re: Interest rates aren't going down any time soon.
Oct 23, 2023, 1:46 PM
[ in reply to Interest rates aren't going down any time soon. ] |
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I havr no plan on selling. Zilch. I have better chance of Clemson winning the National Title than I would deciding to sell. I am just talking about rents. I want to rent it possibly and move in a couple of years for a few years. I will be renting if I move as well. My place is an amazing investment. I am thrilled with it. I am just wondering where the rents are going for me renting my place out, as well as rents elsewhere.
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Oculus Spirit [81078]
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Rents are only going up.
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Oct 23, 2023, 1:51 PM
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As long as houses stay high and interest is high..count on rents doing the same.
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Orange Blooded [3227]
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Re: Rents are only going up.
Oct 23, 2023, 1:55 PM
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Then I might get stuck where I am then. I like moving around, but my cost of living and mortgage is really low, so I am keeping it for decades, if I live that long. I want to see other places though and would rent with interest rates so high, if the rents were just ridiculous. Time will tell. Wilmington is a nice spot. Just want toive in a couple more places before is kick the bucket one day.
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Oculus Spirit [81078]
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Defnitely.
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Oct 23, 2023, 1:58 PM
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I'd love to live in the keys for a bit, but I think price wise for me, that ship sailed about 3 years ago.
I wouldn't mind checking out living ex pat somewhere..like Mexico/Cost Rica/Curacao..something in the Caribbean. It may end up that's the only place I can afford. I better learn some Spanish now.
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Orange Blooded [3227]
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Re: Defnitely.
Oct 23, 2023, 2:09 PM
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Vietnam if things get tight. Ha
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All-In [27149]
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Not necessarily.
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Oct 23, 2023, 2:05 PM
[ in reply to Rents are only going up. ] |
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Some metro areas are finally understanding they need more density and are building again, and adjusting other regulations. In Auckland, NZ, these changes helped steady rent increases.
https://onefinaleffort.com/auckland
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Oculus Spirit [81078]
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Auckland, NZ?
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Oct 23, 2023, 2:09 PM
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I'm not sure you can compare what's going on in another country vs what rents are doing regionally (IE the southeast US).
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All-In [27149]
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Why not?
Oct 23, 2023, 2:16 PM
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Rent is a function of supply/demand. What about those mechanics change in major metro areas? Maybe demand fluctuates based on domestic policy, but the impact of supply on price is agnostic, economic law. If Auckland was able to stabilize rent by allowing for more supply, the principle holds for US cities.
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Oculus Spirit [81078]
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check, please
Oct 23, 2023, 2:26 PM
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All-In [27149]
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Oculus Spirit [81078]
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AWESOME! Moar apts in the second worst part of SC
Nov 8, 2023, 4:22 PM
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Hey FBcooch...they building any in your hood?
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Hall of Famer [21940]
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neighbor just sold their house for
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Nov 8, 2023, 3:24 PM
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$1.7M...cash. listed on Friday, sold by Sunday supper time.
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All-In [27149]
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dawg and neighbors be lik
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Nov 8, 2023, 3:28 PM
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Hall of Famer [21940]
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that's why I was trying to be calm this morning
Nov 8, 2023, 3:29 PM
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the Arrow Exterminator was for the new buyers as part of the expansion haha
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Hall of Famer [21940]
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inspection*** not expansion
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Nov 8, 2023, 3:32 PM
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yikes.
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Oculus Spirit [81078]
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Replies: 57
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