Comments on: Appraise The Lord http://www.younghouselove.com/2009/04/appraise-the-lord/ Two Young People + One Old House = Love Thu, 09 Feb 2012 05:19:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Soleil Smith http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-161372 Soleil Smith Sat, 03 Apr 2010 01:36:27 +0000 http://www.thisyounghouse.com/?p=10049#comment-161372 Sherry & John, my husband and I are the same way! Our mortgage is our only debt and it makes us sick. We want it gone as soon as possible and also want to be able to retire early. We have also been told that paying off your mortgage isn't the best investment to make first with your money, but we just hate having debt. We are about to refinance our mortgage for the 2nd time in the 1 1/2 hears we've been in the house so far. The first time we didn't pay any closing costs but we had to pay some small fees and government taxes and we chose to buy down the rate which was rolled into our mortgage. I hated to start over back at our beginning loan amount, but we went ahead and payed it back down the next month with a huge overpayment. Now we are about to refinance again to a 15 year fixed instead of a 30 year (once again using a company with no closing costs) and I think our monthly payment is actually going down about $20.00. So that was "the biggest no brainer in the history of earth" as the ad says. I am absolutely giddy at the idea of taking 15 years time and interest off of our loan and hopefully we'll be able to pay it off even sooner since we pay a little extra every month. Sherry & John, my husband and I are the same way! Our mortgage is our only debt and it makes us sick. We want it gone as soon as possible and also want to be able to retire early. We have also been told that paying off your mortgage isn’t the best investment to make first with your money, but we just hate having debt.

We are about to refinance our mortgage for the 2nd time in the 1 1/2 hears we’ve been in the house so far. The first time we didn’t pay any closing costs but we had to pay some small fees and government taxes and we chose to buy down the rate which was rolled into our mortgage. I hated to start over back at our beginning loan amount, but we went ahead and payed it back down the next month with a huge overpayment. Now we are about to refinance again to a 15 year fixed instead of a 30 year (once again using a company with no closing costs) and I think our monthly payment is actually going down about $20.00. So that was “the biggest no brainer in the history of earth” as the ad says. I am absolutely giddy at the idea of taking 15 years time and interest off of our loan and hopefully we’ll be able to pay it off even sooner since we pay a little extra every month.

]]> By: Julie http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-44202 Julie Fri, 10 Jul 2009 06:04:48 +0000 http://www.thisyounghouse.com/?p=10049#comment-44202 Gosh, you guys are all lucky you don't live in CA. My house just appraised for about $200,000 less than what I paid for it 2 years ago :( Oh well, we are decorating anyway. Might as well live enjoy it - at least until we foreclose along with everyone else in our neighborhood! Gosh, you guys are all lucky you don’t live in CA. My house just appraised for about $200,000 less than what I paid for it 2 years ago :( Oh well, we are decorating anyway. Might as well live enjoy it – at least until we foreclose along with everyone else in our neighborhood!

]]> By: sandy http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-32314 sandy Sun, 31 May 2009 22:15:37 +0000 http://www.thisyounghouse.com/?p=10049#comment-32314 As a former realtor & someone who bought & sold 7 homes in southern California --- upgrading your homes should be done because you will enjoy living with it. Many times, the buyers don't like what you've done - and change it when they move in. Sales prices of homes are determined by the "market" and the location of the house within the tract & surrounding area. As a former realtor & someone who bought & sold 7 homes in southern California — upgrading your homes should be done because you will enjoy living with it. Many times, the buyers don’t like what you’ve done – and change it when they move in. Sales prices of homes are determined by the “market” and the location of the house within the tract & surrounding area.

]]> By: CAROL S. http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22670 CAROL S. Sun, 12 Apr 2009 12:44:14 +0000 http://www.thisyounghouse.com/?p=10049#comment-22670 Great post, loved the links, and had to take another peek at the royal bread post. fwiw, I took NO offense to the headline here on Easter Sunday from a devout Catholic, lol. You did a great job on that appraisal and if you'd invested that 35K in the stock market two years ago it would be worth about 60% of that now. Instead you enjoy the fruits of your labor every day! Can't think of a better investment than that. Where we are from near Chicago, we purchased 15 years ago for what we thought then was a whopping $270K. We loved watching home prices in our area rise, to close to $550K for comparable homes. Now, they're down to something like $400K, but we are mid-forties, not going anywhere real soon. You'll see over the long haul your value will rise dramatically (we all hope) and you have the pleasure of enjoying your investment along the way. Great post, loved the links, and had to take another peek at the royal bread post. fwiw, I took NO offense to the headline here on Easter Sunday from a devout Catholic, lol. You did a great job on that appraisal and if you’d invested that 35K in the stock market two years ago it would be worth about 60% of that now. Instead you enjoy the fruits of your labor every day! Can’t think of a better investment than that. Where we are from near Chicago, we purchased 15 years ago for what we thought then was a whopping $270K. We loved watching home prices in our area rise, to close to $550K for comparable homes. Now, they’re down to something like $400K, but we are mid-forties, not going anywhere real soon. You’ll see over the long haul your value will rise dramatically (we all hope) and you have the pleasure of enjoying your investment along the way.

]]> By: Julie http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22400 Julie Wed, 08 Apr 2009 19:38:01 +0000 http://www.thisyounghouse.com/?p=10049#comment-22400 I also want to thank you for the window information! When we bought our 35 year old rancher four years ago, one of the first things we looked into was replacing windows. We contacted two big box home improvement stores and wasted two evenings of our lives listening to sales presentations. Both estimates were over $13,000! For only 10 windows! We were so disappointed/flabbergasted that we shelved that project. But now that I know about some more options, we may be revisiting that project. Thanks! I also want to thank you for the window information! When we bought our 35 year old rancher four years ago, one of the first things we looked into was replacing windows. We contacted two big box home improvement stores and wasted two evenings of our lives listening to sales presentations. Both estimates were over $13,000! For only 10 windows! We were so disappointed/flabbergasted that we shelved that project. But now that I know about some more options, we may be revisiting that project. Thanks!

]]> By: ASHLEY http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22395 ASHLEY Wed, 08 Apr 2009 19:15:30 +0000 http://www.thisyounghouse.com/?p=10049#comment-22395 Hey again. I was back reading the comments. Thanks for being honest about the true cost of replacement windows. As the daughter of a window salesman, I know that people are often fooled by the $99 replacement window. If your new window cost $99 than it's not a very good window. So many of these companies say that the windows are cheap but then charge a fortune for window removal, reinstalling the trim etc. Also, vinyl replacement windows look great on some homes but out of place on others. An old Tudor with original wood casement windows would look funny with new replacement vinyl windows in my opinion. Sometimes custom storm windows can be a better option... Hey again. I was back reading the comments. Thanks for being honest about the true cost of replacement windows. As the daughter of a window salesman, I know that people are often fooled by the $99 replacement window. If your new window cost $99 than it’s not a very good window. So many of these companies say that the windows are cheap but then charge a fortune for window removal, reinstalling the trim etc. Also, vinyl replacement windows look great on some homes but out of place on others. An old Tudor with original wood casement windows would look funny with new replacement vinyl windows in my opinion. Sometimes custom storm windows can be a better option…

]]> By: Anthony http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22370 Anthony Wed, 08 Apr 2009 15:59:33 +0000 http://www.thisyounghouse.com/?p=10049#comment-22370 Hey Sherry/John, Great news with the appraisal. Any increase in home value at this point is good news and since you've mentioned that you're not looking to sell in the very short term, I'm sure you'll see significant improvement in your home value when the time comes! We went through the same nervousness/excitement when we had our home appraised in Feb. for our refi and were also pleasantly surprised! At that time, we had invested about $30k into our home and our value, even in today's market, had gone up $70k! We were able to pull some equity out and finish up some long awaited reno work! We (my wife and I) both enjoy following your blog and are determined to send you some before's and afters soon! Hey Sherry/John,

Great news with the appraisal. Any increase in home value at this point is good news and since you’ve mentioned that you’re not looking to sell in the very short term, I’m sure you’ll see significant improvement in your home value when the time comes! We went through the same nervousness/excitement when we had our home appraised in Feb. for our refi and were also pleasantly surprised! At that time, we had invested about $30k into our home and our value, even in today’s market, had gone up $70k! We were able to pull some equity out and finish up some long awaited reno work! We (my wife and I) both enjoy following your blog and are determined to send you some before’s and afters soon!

]]> By: Summer Smith http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22343 Summer Smith Wed, 08 Apr 2009 13:02:28 +0000 http://www.thisyounghouse.com/?p=10049#comment-22343 that is so great! Keep up the good work you crazy kids! that is so great! Keep up the good work you crazy kids!

]]> By: Kellie Alkayam http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22331 Kellie Alkayam Wed, 08 Apr 2009 04:43:15 +0000 http://www.thisyounghouse.com/?p=10049#comment-22331 Mine appraised for $5000 less than what I paid, and that's even with updating the wiring, remodeling the bathroom, etc. etc. But my payment went down about $300 and I still think my house is the best house in the world, so I'm pretty darn happy. Mine appraised for $5000 less than what I paid, and that’s even with updating the wiring, remodeling the bathroom, etc. etc. But my payment went down about $300 and I still think my house is the best house in the world, so I’m pretty darn happy.

]]> By: Fred @ One Project Closer http://www.younghouselove.com/2009/04/appraise-the-lord/comment-page-1/#comment-22327 Fred @ One Project Closer Wed, 08 Apr 2009 03:28:30 +0000 http://www.thisyounghouse.com/?p=10049#comment-22327 Congrats on the higher appraisal, certainly a rarity in this market! Congrats on the higher appraisal, certainly a rarity in this market!

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