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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59775  
Subject: intercst a Homeowner Date: 10/14/2012 2:49 PM
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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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