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bluering
Trad climber
Santa Clara, CA
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Topic Author's Original Post - Sep 29, 2016 - 07:44pm PT
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Just scored a house in South San Jose for 550k. It's no gem, but it will be made to be a proud residence.
Life just may be good!
You'd have to understand this market to understand my situation.
Pretty good deal. Listed at 565, we took it at our peak value of 550k. This should be a done deal. Unlike the last one, we got f*#ked at the last second!
Mind-blowing. Half a million on a house in South San Jose.
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zBrown
Ice climber
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Sep 29, 2016 - 07:47pm PT
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I'm glad for you bluering.
First house I ever bought (and it's not like there have been a lot) was a partnership. Come to think of it so was the second.
I would imagine you got a much better interest rate than I did.
Thanks to Carter and Reagan (by far the highest rate I've ever paid).
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rottingjohnny
Sport climber
Shetville , North of Los Angeles
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Sep 29, 2016 - 07:47pm PT
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Does that include the cockroaches...? congrats...What part of San Joser...?
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ontheedgeandscaredtodeath
Social climber
SLO, Ca
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Sep 29, 2016 - 07:48pm PT
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Congrats! No easy feat in the bay area / silicon valley!
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ruppell
climber
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Sep 29, 2016 - 07:49pm PT
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Congrats man. Remember all that free time you used to have in a few months. It's still worth it though. lol
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bluering
Trad climber
Santa Clara, CA
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Topic Author's Reply - Sep 29, 2016 - 07:49pm PT
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My wife did observe cockroaches! Good question!
Estate sale house has been sitting. It will be cleansed.
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i-b-goB
Social climber
Wise Acres
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Sep 29, 2016 - 07:52pm PT
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Cool, congrats, as long as it doesn't belong in The Beautiful Decay Thread!!
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Flip Flop
climber
Earth Planet, Universe
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Sep 29, 2016 - 07:54pm PT
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Yer gunna die
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bluering
Trad climber
Santa Clara, CA
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Topic Author's Reply - Sep 29, 2016 - 08:01pm PT
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Remember all that free time you used to have in a few months. It's still worth it though. lol
I've been dying for this slowly. After I quit drinking I had visions of this with all the energy you get when you don't drink.
I've been waiting for this little blessing. I'm not sure anyone can understand what this will mean for me and for my future life. It changes everything. For the good!
I have been very blessed in my life, but this is huge for my family.
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survival
Big Wall climber
Terrapin Station
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Sep 29, 2016 - 08:09pm PT
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Congratulations Blue!
Now get to work with what was left of your free time!
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bluering
Trad climber
Santa Clara, CA
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Topic Author's Reply - Sep 29, 2016 - 08:16pm PT
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I'm on it, Bruce! My Guitar/Woodshop workspace is going to find a new, better home.
Buying in winter is good! I'll be in climbing shape in Spring!
My new pad is not far from Guadalupe Rocks, they will get immediate reviews. I hope they've been upgraded! I have other work to do.
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Edge
Trad climber
Betwixt and Between Nederland & Boulder, CO
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Sep 29, 2016 - 08:19pm PT
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Well done!
Enjoy your new adventure, but don't let it overwhelm. All work and no play leads to resentments which are best avoided. Good luck!
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SC seagoat
Trad climber
Santa Cruz, Moab, A sailboat, or some time zone
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Sep 29, 2016 - 08:25pm PT
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Congrats!
Susan
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bluering
Trad climber
Santa Clara, CA
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Topic Author's Reply - Sep 29, 2016 - 08:27pm PT
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Yeah, Edge, I get it.
I'm rock'n'roll, the wife is country. After 11 yrs of marriage we know what we both want.
We got it! it's good.
Bottom line? With rent rates at their current levels, you could be paying a similar mortgage rate payment, WITH A GOOD DOWN PAYMENT.
If you have a 401K, borrow 50k from your account for a down payment. That's a 150 dollar monthly payment on the loan.
If you have CO-BUYER (partner/wife), you have a place easily. Somewhat.
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Reilly
Mountain climber
The Other Monrovia- CA
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Sep 29, 2016 - 08:46pm PT
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It's not a good idea most of the time to 'borrow' from yer 401K. You'll be
heavily penalized by the IRS plus your house isn't going to make nearly the
return on investment your 401K is.
That said, best of luck!
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WBraun
climber
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Sep 29, 2016 - 09:13pm PT
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What's so sad is that house probably originally went for 10 grand ....
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this just in
climber
Justin Ross from North Fork
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Sep 29, 2016 - 09:15pm PT
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F*#king a Steve. Happy for you.
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apogee
climber
Technically expert, safe belayer, can lead if easy
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Sep 29, 2016 - 09:23pm PT
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Congrats, bluering.
The only regret I had in not buying a home was not doing it sooner. Hopefully you'll find the same.
Now the work (and the fun!) begins...
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Studly
Trad climber
WA
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Sep 29, 2016 - 09:31pm PT
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Stoked for ya Bluey!
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this just in
climber
Justin Ross from North Fork
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Sep 29, 2016 - 10:03pm PT
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F*#king a dmt. Lol. I see what you did there
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