Author |
Message |
Serate
Member
08-21-2001
| Sunday, February 08, 2009 - 12:03 pm
My dad and brother have been heating their house with space heaters since their oil burning furnace went kaput over 2 years ago. [Oh they have a brand new one down there to be installed, and gas was under $2 a gallon when it happened but we won't even GO there.] They got their electric bill last week and it was $400. But for the majority of the time covered it was well below 20^s out, and a week of below 0^, all with tons and tons of wind. My brother said as bad as their electric bill was, the oil bill would have been alot worse. You just confirmed it Sadiesmom. Ours for that same time period for electric and gas was around $200, and was higher cuz for 2 of those weeks we had bonus daughter & niece here so had the thermostat higher than normal for us and ran the space heater downstairs almost nonstop. [Hubby and I ran around in shorts most of the time.] I'm so proud of my hubby! We're putting all of our federal refund on bills, and HE's the one that brought it up. One of the major things we're doing is paying an extra mortgage payment. We're already sorta kinda a month ahead. It's due on the 1st, not late until the 16th, and we pay it out of hubby's disability that come's on the first. But when I mailed out the mortgage payment on February 1st, it was the one due March 1st. So we're going to mail out the one due April 1st when it comes in, and then May 1st will be paid on March 1st. It'll help out on the interest, plus it's also a savings account we won't just piss away. If we have a major need for the money, come the first of the month instead of paying the mortgage we have the $1050 available. If it were in saving's it would be easier for us to think, oh well we REALLY need this. Wish we had a Vons nearby!
|
Wargod
Moderator
07-16-2001
| Monday, February 09, 2009 - 12:00 am
Woo hoo on an extra mortgage payment, Serate! That's always fun to do. I read a few years ago that if you pay just one extra mortgage payment a year, you'll shave off time (can't remember how much but it was at least a couple years) for your mortgage overall. That was quite a while ago that I read it though and don't remember the specifics of it. And like you say, if something comes up, you can afford to skip a payment without it being a problem. I wonder how common it's becomming for people to not only turn down the heat but turn it off altogether? Caleb's buddy spent the night last night and he got here about half an hour after Darren started a fire. He kept commenting on how warm it was and told us that after his mom got the gas bill last week, she hasn't turned the heater on at all. They use an electric space heater in the living room, he said the rest of the house was cold so that's where they've been spending all their time. Once again, I'm thankful for the woodburning stove...may not make the house hot, but at least it keeps it from being so cold!
|
Pamy
Member
01-02-2002
| Monday, February 09, 2009 - 5:32 am
aprx 8 years!!! we have done it since the beginning of our loan. It's easier to do a little each month toward principal than sending the whole 1300 at one time. fyi..extra payment must be marked 'for principal only' and will not be like a payment in whole where you can skip a month in the future...
|
Wargod
Moderator
07-16-2001
| Monday, February 09, 2009 - 8:43 am
Thanks Pamy! I knew it was some years but didn't think it was that much!
|
Karuuna
Board Administrator
08-31-2000
| Monday, February 09, 2009 - 8:50 am
For those of you who are interested - here is an online site where you can calculate the savings on your mortgage if you pay extra on principle. It gives you the amount of time you will save on your mortgage. You do need to be clear with your mortgage company about whether you are making a payment in advance, or if you want the total amount to go to principle. I've personally found it easiest to divide my mortgage payment by 12, and add that extra amount in principle to each payment. http://www.banksite.com/calc/prepay
|
Serate
Member
08-21-2001
| Monday, February 09, 2009 - 1:00 pm
Pamy we sent an extra payment because we want to be a payment ahead, kinda like an savings in advance savings account so if something comes up - like hubby getting laid off, which luckily for us/unluckily for veterans probably won't happen - or sick or car problems or something we have the extra money at the first of the month. I do try to send $50 extra for principal whenever I can. At the end of the year it's only $600 if I could do it each month and I think our actual house payment- escrow is $823, but that's close enough for me at the moment. I'm really not too worried about 20+ years from now because I'm 99% sure that within the next 2 years hubby will transfer and we'll be selling the house. [Good thing is even after only paying 2 years on it, loan balance and appraised value are pretty much spot on, company will buy the house at appraised value after 2 1/2 months on the market if it doesn't sell. We might have gotten a tad bit higher interest rate going through the VA for a fixed rate loan, BUT we didn't get screwed on the appraisal and end up paying more than it was worth.] When he transfers next, we'll only buy IF we can't find someplace to rent that will allow the kitties and pup dog. [Esp if we end up in California or Florida - I can't believe the prices for itty bitty houses in those states!] Not buying again until we know it's our pretty much for sure forever home. If then.
|
Pamy
Member
01-02-2002
| Monday, February 09, 2009 - 6:36 pm
Serate, sounds like you have a great plan in place, plus VA loans dont make you pay PMI so that's a plus too 
|
Serate
Member
08-21-2001
| Monday, February 09, 2009 - 7:11 pm
You got that right Pamy. Plus they controlled alot of the charges that the seller's RA was trying to add.
|
Dipo
Member
04-23-2002
| Tuesday, February 10, 2009 - 12:56 pm
Serate, you can get a great deal on a big house right now in California! probably Florida as well.
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 1:23 pm
Not so sure about that but even so I couldn't afford the utilities. We might be hicks, but we be cheap lightin and heatin here in the Midest. 
|
Beekindpleez
Member
07-18-2006
| Tuesday, February 10, 2009 - 1:31 pm
you can get a great deal on a big house right now in California! Where?? My middle son has been trying to buy a small attached house for about three months now. Price: $230,000. Where are the big ones? With the good deals? (I simply cannot believe the way this home purchase has gone! Lenders going out of business; appraisers taking the check to appraise then going out of business; banks getting HUD numbers wrong; back-dues from HOAs being owed by the potential buyer (huh???) and now some rule about no homes being allowed to sell until 90 days have passed.) Dipo...if you know where "big" homes with "great" deals are, could you please tell me? Thanks.
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 2:18 pm
OT: What is an "attached house"?
|
Beekindpleez
Member
07-18-2006
| Tuesday, February 10, 2009 - 2:22 pm
Serate...the two houses share a wall.
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 2:25 pm
Oh here we call that a Duplex. Thanks.
|
Beekindpleez
Member
07-18-2006
| Tuesday, February 10, 2009 - 2:37 pm
They probably call it that here, too. I'm just not very savvy. lol
|
Wargod
Moderator
07-16-2001
| Tuesday, February 10, 2009 - 2:56 pm
I used to say the Antelope Valley (Lancaster/Palmdale/Quartz Hill/etc) was a pretty affordable area of California. When we bought our house in '97 the houses in our neighborhood were appraising for 50k-75k, with one or two that had been completely remodeled around 100k. 3-4 years ago the appraisals skyrocketed to 200k-300k. Now, like probably everywhere else they've dropped and last I heard a couple months ago they were down to 150k which is still pretty high. Our neighborhood was built in the early to mid '50's. 3 bedroom, 1 bath houses, around 1,100 sq ft give or take a few ft. By the time we moved here (we paid 54k and then refi'd a few years later) most of the houses had had rooms built on or 2nd bathrooms built, ours had a den put in that bumped the sq ft up to just under 1,500. At the time, the price was pretty typical for what we were looking for, old or new, and they weren't staying on the market too long. Our area isn't too affordable anymore for those looking to start out. House next door was up for sale for about 8 months (175k) last year and after no serious offers they put it up for rent for $1200 a month. It's been vacant now over a year I guess. I'm not staring out my window, so I could be wrong, but I've only seen two or three people even look at that house since it's been up for rent. Not too unusual, another house down the street was on the market a couple years before someone finally moved in and to tell the truth I'm not sure if they bought it or the people decided to rent it out.
|
Dipo
Member
04-23-2002
| Tuesday, February 10, 2009 - 5:22 pm
Attached housing - Duplex is ususally owned by one person; zero lot line = housing with one common wall two owners each have land; attached PUD = housing that can have one or more common wall but each has land. Condo - can have one or more common walls but no one has land unless you are on the first floor and have a small patio. I think our attached housing is sort of like rowhouses in the east. I guess it depends on what you think is reasonable. To me, $200,000 to $300,000 is reasonable. Used to be that houses were $400,000 and up, and that wasn't a good neigborhood or a fixer upper. I am in Northern California and you can get good size houses on a lot in Pittsburgh, Antioch, Brentwood, Benicia, Sacramento, etc. Condos are going from $150,000 and up. I have actually seen some in good areas for under $100,000. Amazing. I don't know what is going on down in the LA and Southern California area, but we have some great deals here.
|
Beekindpleez
Member
07-18-2006
| Tuesday, February 10, 2009 - 6:02 pm
Thanks, War and Dipo. I like the little house and I sure hope they get it. This same house sold in 2006 for $365,000. But TPTB sure aren't making it easy on them. They have a good down payment amount, high credit score, proven income, etc...and still they wait. I'm glad they saved for this purpose...and keep on hoping it will work out for them.
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 6:37 pm
To give you a perspective of why I would think $300 for a small attached house is unreal, here's what $300,000 - $400,000 can buy you where I live [we spent less than 1/3 of this amount and have a decent house and huge yard.] $399,900 5 Bed, 4.75 Bath | 3,297 Sq Ft on 0.41 Acres (17,859 Sq Ft Lot) Plenty of room to spread out in this large family home situated on a beautiful treed corner lot in convenient south side location in x. There are three master suites, one on the main floor with handicapped accessible bath. The other two are upstairs and one could serve as a mother in law's apartment with Bedroom, sitting room, bath and kitchen/laundry area and separate entry. There are three other bedrooms as well. The walkout lower level has a large game room and cozy sitting area by the wood burning fireplace. There are 2 additional gas fireplaces. Over $90,000 of recent exterior upgrades include new roof, siding, shutters, family room windows, garage doors, gutters with leaf guards and landscaping. The interior has newer carpet, paint and kitchen counters and sink. This is a must see for your growing family! $399,000 5 Bed, 3.5 Bath | 2,239 Sq Ft on 0.31 Acres (13,503 Sq Ft Lot) Outstanding custom built walkout ranch w/over 4,000 sq.ft. of finish located in x Golf Community is sure to impress. Brick/vinyl exterior, wide baseboard trim, rounded drywall corners, & designer colors show quality from inside out. The open floor plan w/wide plank hardwood floors lead to the kitchen w/white washed cabinets complemented w/granite counters, stainless steel appliances & sliders leading to partial covered 2-tier deck over looking pond w/fountain. Dining area shares views of the large great room. 1st flr laundry is near bath & 3 car garage. 3 bedrooms on the main include generous closet space & master suite w/treyed ceiling & bath holding walk-in closet, bubble tub, dbl sink vanity & extra lg tiled shower. Incredible space can be found in the lower w/rec room, 2 bedrooms or den, full bath, family room, & sliders to patio. x schools, amusement park, Aquatic Center, bike trails & easy access to downtown & suburbs make it an ideal location. Absolutely stunning! $390,000 10 Bed, 5.5 Bath | 5,536 Sq Ft on 2.19 Acres Property Information for 4000 Colfax Save Listing Must see formal entry, 3 fireplaces, office with french doors, formal living room, close to bike trail. Enough room for horses $349,000 4 Bed, 3.5 Bath | 2,642 Sq Ft on 0.37 Acres (16,117 Sq Ft Lot) Wonderful South side location. House has been completely updated and 1500 sqft added to make it 2700 sqft plus ranch. Beautiful finish both up and down. Granite and stainless in kitchen. First floor laundry. Master has huge walk in shower and bubble tub. Tax abatement on all improvements. Not a drive by, must see inside. $323,900 5 Bed, 3.25 Bath | 2,414 Sq Ft on 0.47 Acres (20,473 Sq Ft Lot) Plenty of room for the family! This 2 story home features formal dining room, huge eat-in kitchen and sunken family room with fireplace. Second floor has master suite, 3 additional bedrooms all with ample closet space, hall bath and laundry room. Walkout lower level adds another family room with stone fireplace, wetbar, 5th bedroom and 3/4 bath. You will enjoy space having nearly 1/2 acre lot and professionally landscaped yard. Don't miss out on this beautiful x resale. Located just south of x in x School District. Easy access to interstate and downtown x. $309,000 5 Bed, 3.25 Bath | 2,210 Sq Ft on 2.12 Acres You can have the best of both worlds! Close to town - your own space - 2.12 acres! A lot of home! 4,420 sq ft, 5 bedroom, 4 bath ranch. 1st floor laundry/mudroom. Large great room with fireplace, big kitchen with a lot of cupboards, eat-in area with tv nook built into the wall. Three bedrooms on main floor. New addition added a beautiful master bedroom with fireplace, master bath with tile shower & floor and a walk-in closet. Downstairs you'll find a finished basement that includes 2 bedrooms, a bath, exercise room, kids play room and huge family room with a bar area. Must get inside this beautiful home - you will be impressed! "Bonus" - hot tub and big screen tv in lower level stay with the home!
|
Sadiesmom
Member
03-13-2002
| Tuesday, February 10, 2009 - 7:12 pm
Well, I have my furnace serviced when it kept shutting off and I would have to turn it on manually, turned out that furnace was amazingly inefficient because they put in the wrong nozzles. The oil company maintains the furnace, so "we" are having a discussion about a credit because it was their fault. Well, I should say I am discussing it, they are denying it. Ha! Just got another bill for 430 now. I thought the price of oil decreased. I hve to look around at other companies now. No wonder I turn off the heat in April and keep it off until November now. Might not be the best tactic in the north east, but you do what you hve to do. I let the sun heat my house when it can. Open all the blinds in the morning on the south side, have the windows insulated on teh north side.
|
Beekindpleez
Member
07-18-2006
| Tuesday, February 10, 2009 - 7:16 pm
Serate...I'll take that last one! Where are you? Maybe I'll suggest we all move there.
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 7:24 pm
Good ole Iowa.
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 7:34 pm
Here's some pictures of your new house Bee. Call me when you get settled in and we'll do lunch.

|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 7:37 pm
OK I'm done hijacking the thread now. Kinda an after the fact savings, but EVERY SINGLE ITEM I bought for Christmas presents has been on sale for MORE than I bought it for. I'm feeling pretty good, esp for some tools I got hubby. They are on closeout now for $50 more than I paid for them. And I did NOT get anything on Black Friday or even that weekend!
|
Serate
Member
08-21-2001
| Tuesday, February 10, 2009 - 7:37 pm
OK I'm done hijacking the thread now. Kinda an after the fact savings, but EVERY SINGLE ITEM I bought for Christmas presents has been on sale for MORE than I bought it for. I'm feeling pretty good, esp for some tools I got hubby. They are on closeout now for $50 more than I paid for them. And I did NOT get anything on Black Friday or even that weekend!
|
|