Might be escaping Kommiefornia soon

358156 hp

358156 hp

At large, whereabouts unknown.
L Ross said:
Hahahaha, we bought our first home under the peanut farmer admin. 18.2% interest rate. 7.2%, a bargain.
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Mine was 7%. The interest rates started dropping a few years later. I don't think they will ever go as low as they were recently ever again. Wait for housing prices to drop significantly in the next year or so. Does it really matter if you pay several thousand extra in interest if there's an offsetting reduction in the net cost of the home?
 
fiver

fiver

Well-Known Member
well.
i'd wait till next week when the rates drop into the 5's.
those bank crashes will drop the lending rates @2%.... or around by 20% of what it is now.
 
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Ian

Ian

Notorious member
Yep.

Or, you know, rent a house. or buy an RV. If you're happy enough at home, no worries. If you're chomping the bit to move halfway across the country, well, get on about it. Like Lynn wrote, your time is finite. The rest is just....stuff and artificial barriers.
 
Winelover

Winelover

North Central Arkansas
fiver said:
well.
i'd wait till next week when the rates drop into the 5's.
those bank crashes will drop the lending rates @2%.... or around by 20% of what it is now.
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:headscratch:The media is expecting another .5% increase in interest rates...............I'm loving it.

IMO, The peanut farmer's interest rates were right up my investment alley.
 
L Ross

L Ross

Well-Known Member
Winelover said:
:headscratch:The media is expecting another .5% increase in interest rates...............I'm loving it.

IMO, The peanut farmer's interest rates were right up my investment alley.
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One man's burden can be another man's opportunity. The rates back then pushed the price of the house I wanted to buy down and it sat on the market for over 4 months further incentivizing the seller.
 
RBHarter

RBHarter

West Central AR
2 things if my loan interest goes any lower the bank will be paying me to have the loan . I did buy a place to go live not a home . There's a difference, it's becoming a home . I paid less than a new auto for it and have made round numbers 125% payments on it .

Be creative with your financing. I knew a guy that took a loan against his truck to buy an airplane . The house is paid for in Mojave and the kids are going to stay there . Right ? Unless Edwards and plant 42 roll up the sidewalks that house isn't going down in value very much . The kids can make half the payment. Now you're a cash buyer in Oklahoma. That takes about 10% off the purchase and may get all of the fees paid by the seller . Another little break. Once you're settled and getting money back in positive flow you take what's left of the Ca mortgage and you either make a large lump payment or you put it into 4% accounts, CDs or something that pays interest and set up an auto pay for some amount more than the actual payments. Any interest paid on that money is interest the lender doesn't get so you'll have to figure out what's best for taxes and how it works out against the loan and walk that line . Meanwhile the kids in Cali are getting a huge rent break , helping you out , and you're not giving the house away or swapping it . Instead of a 1000-1500+ payment you have a 5-800 payment and the bank is making part of that payment for you . We have a service acct here that pays 4% on the first 10k and 1.5 on everything over that our loan is against CDs that are getting 1.8% and is a 1.67% loan with a 3 yr refi and 20 yr amortization. We get a little interest on monthly roll over , and have a loan that's actually paying 13¢/100 on the CDs .

Buy a semi trailer to move . It'll cost you about $1200 and 10 mpg fuel . When you get to OKC it's a storage unit or you can sell it and get all of your money back and possibly part of the move costs too . Of course you want all of the AA&E in your personal conveyance because of manifest and hazmat regulations , if you're paying the driver it's in commerce....... That starts at 10 # .

I can't say for the urban centers but a comfortable home on 5 ac in Cali buys equal square footage and 10-15x the land here 200 miles ESE .

Also rural doesn't mean the same thing here it does there .
 
P

popper

Well-Known Member
In late 70s I was planning a move to Maitland Fl. Signed for a house, put mine up on contingency but never got a buyer. Called Martin the move was off. 6 mo later, Martin laid off a bunch, didn't get the Apache contract. One good thing that happened to me.
Land is not going down in value and you aren't getting younger.
 
glassparman

glassparman

"OK, OK, I'm going as fast as I don't want to go!"
Well . . . momma did it. She made me buy our retirement home in Blanchard Oklahoma.

3.1 acres and we will build a shop soon.

IMG_3335.png

I know, I know, interest rates are at extorshonist levels. My oldest who also works for Northrop Grumman same as I do, is ready to transfer to OKC as well. The middle kid and his wife are moving within the next 6-8 months down to Temecula with his job.

So that means I'll go back and forth for now until I sell this house within the next year.

I'm doing it fellas! I'm getting outa here!

Looks like the Lexington WMA shooting range is just 20 minutes from the house.

Can't wait to go hunting!!!!!

Mike
 
R

Rushcreek

Well-Known Member
Blanchard is a nice place.
Forget earthquakes, Tornadoes will come by every so often.
But beautiful weather way more often!
Welcome to Red State Central, send us N Texans some rain if you can!
 
glassparman

glassparman

"OK, OK, I'm going as fast as I don't want to go!"
Mow that grass?? No way man, gonna get me a bunch of goats! Just gotta figure out how to keep them on my grass! LOL
 
R

richhodg66

Well-Known Member
You'll like Oklahoma. Nicest folks on average of anyplace I've ever been. Considering retiring there myself. Much as I like Kansas, Oklahoma sure has a lower tax burden.
 
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