OT - Extreme Makeover Home Edition?

cyberben · 2006-05-05T18:28:07+00:00

I don't know if you think the same way I do about this reality show?I work for an architect firm and even the best designer here will takeseveral days before making up his mind and finalize a project as simpleas a bathroom remodel. Now we're talking of redesigning a completehouse (and not a small one) for a client the designer(s) don't evenknow in the first place. Just the construction alone of a 300K$ isnearly impossible in a week even if you staff it with 10 000 workers.You reach a point where the number of worker becomes a nuisance andslows down the entire project. Plaster, paint, varnishes and all thoseproducts need time to dry too.I think this TV show lies to the public at least on one aspect: theyhave work prepared already before showing up at the door of the luckyfamily. The design and the construction dwgs are already made minusmaybe a few details, the prefab house has been ordered already andready to ship, etc.What do you guys believe?Cyberben

May 05, 2006 50 Replies

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Mark & Juanita 20 years ago

It is. What usually winds up happening is that the giver winds up giving the taxes plus the taxes that cover the gift for the taxes. We used to do this at my employer; back when $100 meant something, one of the incentive gifts for employees was to give them a $100 check after they had done something noteworthy (where I came from, it had to be *very* noteworthy -- our employer wasn't exactly known for its largesse income-wise). In order for the employee to walk away with $100, the actual payment wound up being $100 + all of the applicable taxes so the check would really be the intended amount.

+--------------------------------------------------------------------------------+ If you're gonna be dumb, you better be tough +--------------------------------------------------------------------------------+

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Mark & Juanita 20 years ago

... snip

Thought earlier in the thread, the comment was that they were building

*big* houses. In Kalifornia, isn't a $1M house on the order of a 400 square foot efficiency apartment? +--------------------------------------------------------------------------------+ If you're gonna be dumb, you better be tough +--------------------------------------------------------------------------------+

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Swingman 20 years ago

And that typically dodges the real issue .. it is "property" taxes which are the real burden.

Almost all property taxes are based on "appraised value", so any improvements, no matter what scam is used to make them, will result in an increase in the property's value, which results in higher taxes.

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Brian Elfert 20 years ago

Many of the families are given sums of money or have the mortgage go away or both. The kids usually get college scholarships.

I would bet in most cases the increased property taxes are not going to be any more than the old property taxes and mortgage payments.

Someone whose life is changed by a new house, maybe a new car, and a wad of cash should be able to figure out how to pay the taxes once the money runs out. For the familes that get $100k, they could put it in a bank CD and make enough interest to cover a $4,000 tax bill.

Brian Elfert

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Swingman 20 years ago

You would lose.

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todd 20 years ago

I'd be interested to hear the backup for that statement.

todd

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Edwin Pawlowski 20 years ago

In some cases, yes.

Multi-million dollar lottery winners often end up broke too.

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Doug Brown 20 years ago

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Brian Elfert 20 years ago

One of the families is/was appealing a $4,000 property tax bill.

How many families really have a combined mortgage/property tax bill of less than $400 a month?

Brian Elfert

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Swingman 20 years ago

I give up, how many?

You're running rabbit trails ... read my statement in the context in which it was written as a reply - as answer to the bullshit about "federal and state" taxes being taken care of - not as you're trying to twist/spin it.

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mjmwallace 20 years ago

Well, no. Not in all municipalities. In ours, a $1 mill, gets you a

2000 - 3500 sq ft house and some acreage - anywhere from 1/2 to 3. Depends on the area. Where this couple live, their house was appraised for over a $ 1 mill.

A 400 sq ft house in SF would run about $600k!

MJ Wallace

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