Home buying thread

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Joeboo

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Maybe it's the governments way of trying to normalize housings costs for people who don't make a lot of money but happen to live in an expensive area? I'm not overly familiar with Virginia but I assume that getting a home for $138K anywhere even remotely near that area isn't really an option?

Here in the midwest, $138K is a completely respectable home. Probably 1200-1500sq feet, 3 bedroom, 2 bath, 2 car garage type home with a decent sized yard.
 
Vinen

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joeboo_sl said:
Maybe it's the governments way of trying to normalize housings costs for people who don't make a lot of money but happen to live in an expensive area? I'm not overly familiar with Virginia but I assume that getting a home for $138K anywhere even remotely near that area isn't really an option?

Here in the midwest, $138K is a completely respectable home. Probably 1200-1500sq feet, 3 bedroom, 2 bath, 2 car garage type home with a decent sized yard.
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I don't know. This feels like a program for leeches on society.

This guy is worse then Sean.

He's more or less admitting to gaming the system in this thread. Why the fuck do my taxes have to go to jackasses like him.
 
Noodleface

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So because me and my wife make pretty good money, we have to pay 2-3x the amount for a house. Seems reasonably fair.
 
S

SaidBetterThan_sl

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It's been awhile since I've read anything posted by Sean, probably since the EQ days. I will assure you I am not "as bad as Sean" because I'm not bad at all.

I'm not gaming any system, I am following the rules of the program per the state and federal codes. You're naive if you think that one should not take advantage of opportunities available to them.

This life is a competition, and if you see fit to hinder yourself by not capitalizing on opportunity...well best of luck, sir.


Edit- and your jealousy is what fuels your current anger. I assure you programs exist that you qualify for, yet lack the desire to put in the effort to discover them. For example, I'm quite sure it's article 5 of the affordable care act that essentially gives you a full scholarship for getting a degree in the medical field. Or if you make 10 years of student loan payments as a public employee you get the remaining balance of your student loans forgiven.
 
Deathwing

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I was going to take your middle paragraph and change a few of the words and it would be almost verbatim something Sean has said repeatedly. But that would probably get me banned, so nevermind!


Just because something is allowed doesn't mean it's not immoral.
 
Noodleface

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Deathwing_sl said:
I was going to take your middle paragraph and change a few of the words and it would be almost verbatim something Sean has said repeatedly. But that would probably get me banned, so nevermind!


Just because something is allowed doesn't mean it's not immoral.
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You'd only get banned if Sean saw it, and I don't think he's coming to this thread any time soon
 
Deathwing

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SaidBetterThan_sl said:
Edit- and your jealousy is what fuels your current anger. I assure you programs exist that you qualify for, yet lack the desire to put in the effort to discover them. For example, I'm quite sure it's article 5 of the affordable care act that essentially gives you a full scholarship for getting a degree in the medical field. Or if you make 10 years of student loan payments as a public employee you get the remaining balance of your student loans forgiven.
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I'll let you think on this one a bit. What's the difference between the examples you provided and what you're doing?
 
Noodleface

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Reminds me of where I live currently. Some of the people are Section 8 (they have a special building, but it's the same as ours). They get to pay 30% of their monthly income (most don't work), whereas we get to pay full rent because we have jobs.

I think the difference is most of these tenants are crackheads, not sure if this guy is.
 
S

SaidBetterThan_sl

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If the moral thing to do is to continue renting at $1,500 a month for a 600 sq feet apartment...consider me a prime candidate for Hell. I'm not going to sit back idly and watch my position in the world erode because of the local housing market. A solution presented itself, and after many laborious days devoted to this program, I was rewarded.

I'm sorry the same opportunity is not necessarily available to you. I assure you I am a productive member of society who comes into work early and leaves late. I am college educated, and pay all of my taxes on time.

I understand that currently allocation of tax dollars is a hot topic. This program is but the tip of the iceberg...if you want to get real hot and bothered, look into Land Use Assessment Programs offered across the country, and specifically Open Space.
 
wormie

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Everyone who is whining here is missing the fact that the value of the guys house is to be depressed for at least 15 years . Its not like he bought a fucking house for 180k and its actually worth 400k. Its worth 180k because of all the restrictions imposed on it by the country.
 
McCheese

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As much as I'd like to condemn SaidBetterThan, I really can't. Prices for housing are so insanely fucked up in this area (VA/DC/MD) that I can't realistically see myself buying a house in a safe area without taking advantage of some kind of program like that. The difference between salaries and house prices (and even rent) are just so absurd that it would be almost impossible for me to save up for a decent house otherwise.
 
wormie

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Deathwing_sl said:
So, you're saying he'll be taxed less too?
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That is likely. The county uses fair market value to assess taxes so since this residence's fair market value is 180k (or w/e the fuck it is) it will be taxed that way. And also, the county website says this property will remain affordable housing blah blah blah for 50 years from the date of first sale from the developer. Its an asset that is worth 180k, not 400k so i dont see why everyone is up in arms about it.
 
Joeboo

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Not to derail, but I work with a guy who owns a TON of rental properties and they are all classified as Section 8 and he loves it because the government pays like 70-80% of the rent, he only has to collect the rest from the renters. So even if someone stiffs him or doesn't pay for months at a time he's still getting 75% of his money guaranteed.

I would also assume this housing program probably has some stipulations that the home can't be flipped/resold within a certain amount of time(maybe 5 years minimum or something) to keep people from taking quick advantage of the system for profit.

A buddy of mine is a fireman and there is some DAMN nice government programs for firemen and policemen as well. He recently purchased a house in the city where he is a fireman, and HUD basically sets the home up with 2 home loans, each for 50% of the loan. If he stays in the home for 5 years they basically just erase one of the loans & he gets half of his home immediately paid for. Damn nice program for those people that work in those jobs.
 
Brando

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joeboo_sl said:
Not to derail, but I work with a guy who owns a TON of rental properties and they are all classified as Section 8 and he loves it because the government pays like 70-80% of the rent, he only has to collect the rest from the renters. So even if someone stiffs him or doesn't pay for months at a time he's still getting 75% of his money guaranteed.

I would also assume this housing program probably has some stipulations that the home can't be flipped/resold within a certain amount of time(maybe 5 years minimum or something) to keep people from taking quick advantage of the system for profit.

A buddy of mine is a fireman and there is some DAMN nice government programs for firemen and policemen as well. He recently purchased a house in the city where he is a fireman, and HUD basically sets the home up with 2 home loans, each for 50% of the loan. If he stays in the home for 5 years they basically just erase one of the loans & he gets half of his home immediately paid for. Damn nice program for those people that work in those jobs.
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This only works on HUD owned property which is usually crack houses.
 
Falstaff

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They have a similar situation for teachers but the houses are always in the worst neighborhoods or suburbs.
 
Khane

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Again, I have no issue with people who need assistance being given assistance to live a normal life.

I DO have a problem with giving someone who doesn't actually need assistance a brand new, nice home in an affluent area for pennies on the dollar just because he's a fucking loser. People like him, using programs like this, is the reason these programs are such a hot topic and end up in heated debate. Nobody NEEDS a 1900sq ft 3 bed 2.5 bath house. This fucker gets to have one for almost no money at all just because this program is retarded and he's taking advantage of every single one of his neighbors.

And that's exactly what he's doing. Every time he shakes the hand of someone in his community or waves hello he's silently saying "Thanks for the free money asshole, I appreciate you paying for me to live beyond my means in this beautiful and completely unnecessary home". But he's OK with that because he thinks of it as "well it's available so I'm gonna do it".
 
wormie

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Khane_sl said:
Again, I have no issue with people who need assistance being given assistance to live a normal life.

I DO have a problem with giving someone who doesn't actually need assistance a brand new, nice home in an affluent area for pennies on the dollar just because he's a fucking loser. People like him, using programs like this, is the reason these programs are such a hot topic and end up in heated debate. Nobody NEEDS a 1900sq ft 3 bed 2.5 bath house. This fucker gets to have one for almost no money at all just because this program is retarded and he's taking advantage of every single one of his neighbors.

And that's exactly what he's doing. Every time he shakes the hand of someone in his community or waves hello he's silently saying "Thanks for the free money asshole, I appreciate you paying for me to live beyond my means in this beautiful and completely unnecessary home". But he's OK with that because he thinks of it as "well it's available so I'm gonna do it".
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"First-time homebuyers desiring to purchase a home must have a total household income more than 30% and less than 70% (65% for condominium purchases) of the area median income based on the Primary Washington Metropolitan Statistical Area). "(Loudoun County, VA - Official Website - Affordable Dwelling Unit Program
)

So this guy you are crying about fits the requirements set forth by the county. What exactly is he abusing again?
 
ZyyzYzzy

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The dude is buying a house way out (in DC terms). Anything that size and closer to DC (Alexandria, Arlington, Bethesda) will easily go for 700k. Housing prices in the area are fucked, even where he is buying because from there any commute towards DC will be hell.
 
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