Debt Dumpers - 2016

[DnA2010]

Awww. We put down his 35 year old pasture mate about 2 years ago. I knew he wouldn't be here forever, but it sure is tough walking into the barn to feed and not hearing him whinny to me. I never realized how quiet it was without that and him banging on his door for his dinner.

Whoops I meant to say the choice wasn't difficult to make but still very sad. Hugs x

 

[bababear_50]

Swimming Swimming Swimming
I finally saved up enough money to open a small R.E.S.P. (registered educational Savings Plan) for my grand daughter.
Very proud of myself,,
Only 6 more days of school and then off I go on Holidays for the summer!
Now getting through the summer without a pay cheque is a whole different story.
Hugs to those swimming along
Mel

 

[bababear_50]

DisneyMandc
Sending healing hugs your way
~~~~~~~~~~Healing Hugs~~~~~~

Gena001
sending
healing hugs your way
~~~~~healing hugs~~~~~~~~~~~~

Hugs Mel

 

[bababear_50]

Bcwife76
Congrats on your Dad's home selling.
The housing market in Canada actually scares me. So many Canadians are in mortgages way above their heads and I'm afraid the whole thing is going to come crashing down upon them.
Hugs to you and BREATHE,,,but no counting chickens yet.
Mel

 

[bababear_50]

Toystoryduo
Sending you a "catcher's mitt" to slow down the curve balls,,,hugs Hon,,,everytime I feel things are going great i get hit with a curve ball. Keep on swimming Hon!
Hugs Mel

 

[ruadisneyfan2]

Bcwife76
Congrats on your Dad's home selling.
The housing market in Canada actually scares me. So many Canadians are in mortgages way above their heads and I'm afraid the whole thing is going to come crashing down upon them.
Hugs to you and BREATHE,,,but no counting chickens yet.
Mel

This happened a few years ago in the US. 19 years ago we couldn't get approved for a mortgage on a home $25k more than the one we're in now. Somehow several years later, people making much less than us were getting approved for homes costing triple the one we couldn't get.
So naturally, one can only live that way so long and then people started foreclosing all over the place. Those who could still swing the payments eventually were "under water" once the housing market readjusted and suddenly a house someone paid $450k for was only worth $300. So now they can't sell and can't refinance when the interest rates dropped.
It's crazy.

 

[Gena001]

So my dad's house sold! It was on the market for less than 10 days; sold $110,000 under asking but considering I thought they would be asking significantly less it's basically $300,000 more than I thought it would go for! They close mid-September so looks like the rest of my inheritance *should* come through before the end of the year (again, early than I was expecting). Now I'm not counting my chickens just yet as I know things can get derailed, take longer, etc, but it's exciting to think that we will be paying off our mortgage in February 2017 instead of renewing it! Still, not counting those chickens until they are in the bank account.....*breathe*

HOW FANTASTIC! So happy for you!!!

 

[Gena001]

This happened a few years ago in the US. 19 years ago we couldn't get approved for a mortgage on a home $25k more than the one we're in now. Somehow several years later, people making much less than us were getting approved for homes costing triple the one we couldn't get.
So naturally, one can only live that way so long and then people started foreclosing all over the place. Those who could still swing the payments eventually were "under water" once the housing market readjusted and suddenly a house someone paid $450k for was only worth $300. So now they can't sell and can't refinance when the interest rates dropped.
It's crazy.

I can't believe how things have rebounded around here. We're in one of the top performing school districts in the state and a highly nationally ranked high school. Everyone wants in. If your house is on the market more than a week or two, there's something wrong. We purchased in 2004, just before the real estate bubble burst and the economy tanked. If we listed our house now, we could ask $75k to $100k over what we paid. We've given it some thought, but my husband has quite a few cars and motorcycles he tinkers with. Our detached garage actually has a little more square footage than our house! It will take a big effort to clean it out. We'd be hard pressed to find another garage like this in our district. He goes crazy without his tools and toys.

 

[Gena001]

Update on the doctor appointment. He called the office back today, but the appointment desk had closed. He promises to call first thing when they open on Thursday. Hope we don't wait too long to get in.

 

[gracie1]

Swimming Swimming Swimming
I finally saved up enough money to open a small R.E.S.P. (registered educational Savings Plan) for my grand daughter.
Very proud of myself,,
Only 6 more days of school and then off I go on Holidays for the summer!
Now getting through the summer without a pay cheque is a whole different story.
Hugs to those swimming along
Mel

Are you traveling this summer?

 

[gracie1]

Update on the doctor appointment. He called the office back today, but the appointment desk had closed. He promises to call first thing when they open on Thursday. Hope we don't wait too long to get in.

I hope everything turns out okay!!

 

[momtosam]

I'm basically addicted to HGTV. I always find it amazing how much house prices vary from area to area. The houses that Chip and Joanna do in Texas seem dirt cheap, but then any of the houses that Taurek and Christina do in California seem outrageous as far as prices go.

I'm not sure it's so much swanky as overpriced! Vancouver BC and the surrounding suburbs are one of the most expensive places to live IN THE WORLD. Not the country. THE WORLD. Housing is incredibly expensive here. The house is 32 years old and has not be renovated since it was built. And it still sold for just over $1.7million. Insanity.

When we bought our house at the end of 2011 we didn't realize just how lucky we were; if we were house hunting today we could not afford it. It makes me realize just how very fortunate my family and I are, honestly.

Wow, I had no idea it was one of the priciest areas in the world! Kind of like here in Denver where 110 year old, 1200 sq ft houses without AC are selling for half a million and up!

 

[DisneyMandC]

I'm basically addicted to HGTV. I always find it amazing how much house prices vary from area to area. The houses that Chip and Joanna do in Texas seem dirt cheap, but then any of the houses that Taurek and Christina do in California seem outrageous as far as prices go.

Agreed! I'm always shocked at the home prices on both of those shows. The area where Tarek and Christina sell houses is right there around DL, and DH and I stayed in that area when we went in January. It's nothing super impressive... I mean, it's fine. Just sort of your little basic ranch style houses, like everything they flip. But I don't even understand how people can afford to live out there. I feel like we're in a pretty median area as far as housing. We paid less than half for our house what Tarek and Christina sell most of their houses for, and that included 17 acres to go with it!

 

[Dentam]

Yeah, I watch the House Hunters episodes on Netflix sometimes and the prices in TX are so cheap! Our area is pretty bad in that wages haven't kept up with demand for housing and the resulting high prices for rent and purchasing homes. There was an article on it last week in the Denver Post saying that this will deter many people from moving here and will also prevent some people from being able to stay. There simply is not enough affordable housing to meet the demand. Developers are mostly building expensive units to cash in on the popularity. Not a good situation.

 

[bababear_50]

Are you traveling this summer?

No
lol,,, I have no plans to travel but this is me racing from work to home in 5 days...I love my job as a educational resource facilitator but I am exhausted and need to recharge my batteries.
I may may make a couple of day trips to Niagara Falls but that is only a 30-40 min car ride.
Hugs Mel

 

[amalone1013]

I'm in Denver too... I'm from Nebraska originally, so the Denver prices are already terrible to me. Then I watch HGTV and I'm like

We've been lucky enough to stay with DF's parents in Denver so far, to save up money/pay down student loans

 

[bababear_50]

My son and daughter inlaw bought their first home one year ago.
I felt the house was way over priced at the time.
They have done a few things--new roof, new driveway. On Tuesday they put their house up for sale.
My daughter inlaw has been offered a better job in another city, which is where my sons job is.
As of today there are people lined up in the driveway for showings and they have three offers coming in.
They will probably see a profit over 100,000.00.
They are going to bank and rent for a few years.
I am actually glad they are getting out of the market now because I just feel in my heart that the housing market is an inflated bubble. Bubbles do break and I'm afraid some hearts are going to also.
Keep on swimming
Hugs Mel

 

[Jen and Ashwin]

My son and daughter inlaw bought their first home one year ago.
I felt the house was way over priced at the time.
They have done a few things--new roof, new driveway. On Tuesday they put their house up for sale.
My daughter inlaw has been offered a better job in another city, which is where my sons job is.
As of today there are people lined up in the driveway for showings and they have three offers coming in.
They will probably see a profit over 100,000.00.
They are going to bank and rent for a few years.
I am actually glad they are getting out of the market now because I just feel in my heart that the housing market is an inflated bubble. Bubbles do break and I'm afraid some hearts are going to also.
Keep on swimming
Hugs Mel

I really think that it depends on the area in which you live. I bought my house in 2012 at about the very bottom of the market in my area. Since I purchased, my house value has increased by $50k, but this is still about $50k less than it cost at it's peak. I feel that buying my home was a good investment at the time. But beyond an investment, I just really love owning a house. I like painting the walls whatever color I want. I like putting up art. I like working in my garden. I just feels more like home than anywhere I have lived since I left my parent's house.

 

[bababear_50]

I really think that it depends on the area in which you live. I bought my house in 2012 at about the very bottom of the market in my area. Since I purchased, my house value has increased by $50k, but this is still about $50k less than it cost at it's peak. I feel that buying my home was a good investment at the time. But beyond an investment, I just really love owning a house. I like painting the walls whatever color I want. I like putting up art. I like working in my garden. I just feels more like home than anywhere I have lived since I left my parent's house.

Oh I agree that owning your own home comes with many benefits and provides for future security.
This home is not their "forever" home so I am happy they are able to come out of it with a good profit and
not loose money. As a mom I think perhaps I just worry a bit too much.
Hugs To You
Mel

 

[Gena001]

Agreed! I'm always shocked at the home prices on both of those shows. The area where Tarek and Christina sell houses is right there around DL, and DH and I stayed in that area when we went in January. It's nothing super impressive... I mean, it's fine. Just sort of your little basic ranch style houses, like everything they flip. But I don't even understand how people can afford to live out there. I feel like we're in a pretty median area as far as housing. We paid less than half for our house what Tarek and Christina sell most of their houses for, and that included 17 acres to go with it!

...and those closing costs! Zowieee! We paid ~$2K for closing costs on our house.