Won the bid on a 900k house and now I feel sick

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, I think you're going to love the house. Congratulations!

Unless they are dramatically cash poor, then it will suck.

If they are cash poor they will be motivated to get higher paying jobs or work harder for promotions. That is how the free market works.

[Anonymous]

are you putting down a lot of money? i'm not sure how your monthly payment will only be 4100, especially on a jumbo
loan? has this been confirmed by your lender?

[Anonymous]

We must be cheap. We make about $200K together. We paid $550K for our 5 BR home. We wouldn't even go up to $600K.

It's not worth being house poor. You never know what can happen in the future. sick spouse, divorce, fired

no way

I've seen too many foreclosures and short sales in my life.

not worth it

Yeah, with an income of 200K, we wouldn't go to 600K either. Have been through two layoffs (one when in contract to buy a house in Brooklyn, which... had we bought for 410K, would now be worth 2 million, but oh well), have seen salaries go DOWN, and then up a little, and then stagnate. Have seen promised bonuses never materialize. We pay 3K a month in rent, in a neighborhood where houses go for 700-1MM. I don't think we can afford to buy here. I'm looking at 400K bungalows that aren't flipped.

[Anonymous]

^^^ However, also, you couldn't pay me to live in North Arlington. So there is that.

[Anonymous]

Anonymous wrote:^^^ However, also, you couldn't pay me to live in North Arlington. So there is that.

Why are there so many posts having non sequitur attacks on No Arlington like the thread about moving to dream home with bad schools; some mentioned an example of how people move once kids are school age from Alexandria to Arlngton (just an example) and people piles in saying private would be better than Arlington

Unclench people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, I think you're going to love the house. Congratulations!

Unless they are dramatically cash poor, then it will suck.

If they are cash poor they will be motivated to get higher paying jobs or work harder for promotions. That is how the free market works.

Actually, being tied to a home is one of the key factors that keep people from moving to better paying jobs and advancements. Once you are committed to an area, your options are generally limited.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, I think you're going to love the house. Congratulations!

Unless they are dramatically cash poor, then it will suck.

If they are cash poor they will be motivated to get higher paying jobs or work harder for promotions. That is how the free market works.[/quote

yes

b/c it's really that easy . . .

[Anonymous]

Anonymous wrote:

We must be cheap. We make about $200K together. We paid $550K for our 5 BR home. We wouldn't even go up to $600K.

It's not worth being house poor. You never know what can happen in the future. sick spouse, divorce, fired

no way

I've seen too many foreclosures and short sales in my life.

not worth it

Yeah, with an income of 200K, we wouldn't go to 600K either. Have been through two layoffs (one when in contract to buy a house in Brooklyn, which... had we bought for 410K, would now be worth 2 million, but oh well), have seen salaries go DOWN, and then up a little, and then stagnate. Have seen promised bonuses never materialize. We pay 3K a month in rent, in a neighborhood where houses go for 700-1MM. I don't think we can afford to buy here. I'm looking at 400K bungalows that aren't flipped.

too bad about the $410K home! But real estate is always a gamble. You just never know!

[Anonymous]

Anonymous wrote:

Anonymous wrote:^^^ However, also, you couldn't pay me to live in North Arlington. So there is that.

Why are there so many posts having non sequitur attacks on No Arlington like the thread about moving to dream home with bad schools; some mentioned an example of how people move once kids are school age from Alexandria to Arlngton (just an example) and people piles in saying private would be better than Arlington

Unclench people.

Sorry you're offended but lots of folks avoid Arlington like the plague.

[Anonymous]

Why are there so many posts having non sequitur attacks on No Arlington like the thread about moving to dream home with bad schools; some mentioned an example of how people move once kids are school age from Alexandria to Arlngton (just an example) and people piles in saying private would be better than Arlington

jealousy

[Anonymous]

I'd be ill, too! We are financially conservative and live well below our means (HHI $240K +), kept our mortgage at $417K.

[Anonymous]

Anonymous wrote:

Why are there so many posts having non sequitur attacks on No Arlington like the thread about moving to dream home with bad schools; some mentioned an example of how people move once kids are school age from Alexandria to Arlngton (just an example) and people piles in saying private would be better than Arlington

jealousy

I looked at a few places in Arlington before I settled on my place in DC.

I bought in 2008, and even then I couldn't understand Arlington. You're paying high prices for a house in a neighborhood that looks like the ghetto. Yes, I understand that the schools are good, but where I come from - the ghetto looks like Arlington. The fact that the gas from my car was stolen while it was parked overnight in one of the nice neighborhoods in Arlington made me see it in a worse liight.

And now normal houses in Arlington are $1M??! It's madness.

[Anonymous]

I looked at a few places in Arlington before I settled on my place in DC.

I bought in 2008, and even then I couldn't understand Arlington. You're paying high prices for a house in a neighborhood that looks like the ghetto. Yes, I understand that the schools are good, but where I come from - the ghetto looks like Arlington. The fact that the gas from my car was stolen while it was parked overnight in one of the nice neighborhoods in Arlington made me see it in a worse liight.

And now normal houses in Arlington are $1M??! It's madness.

My neighborhood, Country Club Hills, looks much like the area we moved from in upper NW DC. Either you never ventured outside of Route 50 in your home search, or you don't know what the meaning of "ghetto" is. In any event, I have happily enjoyed a tripling of my home value since we purchased, our safe neighborhoods and excellent schools. The general increase in Arlington's livability over the past decade (bike ability, walkability, etc.) is just icing on the cake.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^^^ However, also, you couldn't pay me to live in North Arlington. So there is that.

Why are there so many posts having non sequitur attacks on No Arlington like the thread about moving to dream home with bad schools; some mentioned an example of how people move once kids are school age from Alexandria to Arlngton (just an example) and people piles in saying private would be better than Arlington

Unclench people.

Sorry you're offended but lots of folks avoid Arlington like the plague.

Such idiotic hyperbole. You're have delusions of grandeur or something; you are an outlier and seem to believe you are the norm. Weird.

[Anonymous]

Anonymous wrote:I'd be ill, too! We are financially conservative and live well below our means (HHI $240K +), kept our mortgage at $417K.

I suppose I'll play your game.

Are you bragging about buying a $417k house after putting down $600k as a downpayment?