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http://boards.fool.com/intercst-a-homeowner-30318955.aspx
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| Subject: intercst a Homeowner | Date: 10/14/2012 2:49 PM | |
| Author: intercst | Number: 45824 of 64692 | |
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I just bought a 2-bed, 2-bath, 1-car garage condo for about 6 times its annual rent. I paid cash, but if I assume a monthly payment on a 3.5% mortgage, mortgage + property taxes + HOA fees = 1/2 the monthly rent on a neighboring unit. That's what it takes to get me to put up with the burdens and hassles of owning a home. Unit was a Fannie Mae foreclosure. They put new cabinets in the kitchen and bathroom vanities, new carpet and paint. Place was in move-in condition I believe this marks the turn in the real estate market. intercst |
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