Slightly OT: Neighborhood foreclosures and my home repairs

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example property value 100k property value, assesment 100% assessed taxed at .05% /$ value= $5,000.00 now example two 100k property value, assesment 80% assessed tax at .0625% /$ value=$5,000.00 so you see at 100% and 80% it comes out same. Tax can be manipulated as our politicians wish there are no standard we do not want put our crooks out of job do we ????????????????????/
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That's what I was trying to get across. You just did it a little better with an example. Bottom line is the budget will be met!
Sometimes it sucks to not really understand things. Sometimes you're better off!
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On Thu, 11 Sep 2008 16:06:08 -0500, Phil Again wrote:

[...]
I think it would be self defeating to do that. If you want decent people to buy (or at least rent) the vacant houses near your home, then keep your own home looking decent.

Unless you're in a truly blighted area, I wouldn't worry about it too much. Not all of those foreclosures will end up as rental property. Some will end up as rentals, but others will be owner occupied, and others will get mostly cosmetic repairs and be marketed for top dollar by house flippers.
Foreclosures go cheap, because the property is almost always "rough around the edges" and you're buying with no recourse against the seller. I'm not complaining; I'm living in a hud repo that I got cheap last year. I paid about 70% of what the surrounding comps are worth.
A house a few doors down from me was auctioned off cheap earlier in the year. It was bought by investors who later sold it for top dollar.
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yeah its bad out there, IF GOVERNMENT HAD SHORED UP THE SUB PRIME LOANS FROM THE GET GO THIS MESS WOULDNT OF TAKEN DOWN OUR ENTIRE ECONOMY!
I would maintain my home as normal, so its iun good shape when the turn aoiund comes. besides ultimately you live in your home its best to maintain it well.
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I think you mean "if the lenders hadn't put out all those sub-prime loans to people who were likely to default if the economy slowed down, which it inevitably does sooner or later, I wouldn't have had to pay so much for my own house."
Yes, I'm a little bitter that I'm being penalized for buying within my means, not taking out an interest-only ARM to save a few bucks, etc. etc. etc.
I guess the only silver lining is in a couple years I'll have one of the highest credit scores around as I'll be one of the few who hasn't defaulted (ASSuming I don't lose my job before values go back up.)
nate
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Phil Again wrote:

Nope. They'll have fewer students. That means fewer buildings and fewer teachers and lower budgets.

With fewer residents, there's less trash to pick up, fewer people get sick or commit crimes, fewer fires, etc. You have a wonderful opportunity to shrink your local government.

If you want those services, you can buy them yourself and eliminate the middle-man.
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Phil Again wrote:

You are ignoring something important and that was the real estate bubble that greatly skewed the market.
Our county is in the process of reassessment and there are numerous complaints because the county commissioners just happened to choose the peak of the bubble as the reference for real estate values. Since it will be a while before greedy banks and clueless people hold a repeat performance the "market values" have nothing to do with real market values. So numerous people are protesting to get them to back down.
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well in life things can change fast, people get married, divorced, change jobs etc etc.
a well maintaained home is easier to sell whenever you want.......
besides often routine maintence saves long term money
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Maybe I wasn't clear.... The only way I am going to leave my current house is to lock the door and walk away.
There is no possibility I can come up with a $40,000.00 or $50k which would make up the difference between my expectation of a selling price and the remainder of my Mortgage. Period. $5,000.00 maybe, but not $40,000.00.
I don't see the prices of homes in my neighborhood rising much above cost of land and replacement value of the house. Which makes the current selling price ($50K below my mortgage) about correct +/- 10%.
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Phil Again wrote: ...

So, what's the question again? What are you actually thinking you're going to do without on maintenance that's going to be a big-ticket difference unless you mean "ever" as opposed to right now.
If this were a discussion to take truly seriously, one would ask how old you are, your level of income and other debt compared to the house, life style and why one doesn't have additional resources other than what, at least superficially, appears to be more house than can afford...
On balance, most of those aren't issues any reasonable person would want to discuss in sufficient detail on usenet for there to be any meaningful answers. One might hazard a guess a call to Dave Ramsay might be fruitful if one were a guessing kind.... :)
As for future values, cycles come and cycles go. Again depending on age and other circumstances, time may (or may not) be on your side...
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