First House?

[Rayne]

Well, financing fell thru due to the excessive property taxes. Being that I don't know if I could get rid of this apartment in a timely manner among a couple of other issues, I decided to wait it out til April or so again. There will be plenty of good deals still out there around then, and maybe then the new interest rate cut will be effective then.

Stupid Yspilanti property taxes!!!!

They should die in a fire. (I hate living here because of those ... I love my house).

I'm sorry Reaper, hopefully in April or so it will be easier.

[Destroit]

Well, financing fell thru due to the excessive property taxes. Being that I don't know if I could get rid of this apartment in a timely manner among a couple of other issues, I decided to wait it out til April or so again. There will be plenty of good deals still out there around then, and maybe then the new interest rate cut will be effective then.

I see the real estate numbers allll the time 'cause I work at century 21. Just wait, the market is going down further and believe it or not they will bottom out even lower. I'm hoping the market is still shitty in two years when I get out of college, which is fairly likely, so I can grab up a good cheap house Even if you wait until April, the house you're looking at would probably drop in price 20,000 - 30,000.

[Reaper]

Prices of houses isn't the problem for me. Its the property taxes that never change except for when they go up in price. They don't adjust any lower unless you go into the tax tribunal and show that your home and others around you are going down in value. At that time, they MAY adjust the taxes lower. For this particular property, winter and summer taxes were around $5,000. That is basically a little over $400 extra a month to your monthly mortgage payment. I am going to try again in April, but maybe look a bit further west out by Brighton or Whitmore Lake area and out by Hamburg Twp. Seen decent homes for a good price, but maybe the property taxes will be much better there.

[pomba gira]

I see the real estate numbers allll the time 'cause I work at century 21. Just wait, the market is going down further and believe it or not they will bottom out even lower. I'm hoping the market is still shitty in two years when I get out of college, which is fairly likely, so I can grab up a good cheap house Even if you wait until April, the house you're looking at would probably drop in price 20,000 - 30,000.

I believe it. The mortgage co did not seem at all anxious to snatch my house & have yet another one to get rid of... they jumped at the chance to deal w/me at the first sign that I had a real income again.

There is some outfit that runs these ads incessantly on radio here... about what a great time this is to buy a house, etc. etc. Which is true enough... but I hate hearing those spots, 'cos, dammit, the reason there's so many nice cheap homes available is the economy is FUCKED and people are going under financially right & left... like I ALMOST did. So it's kind of creepy, these ads urging you to be all gleeful at the prospect of profiting from some other poor slob's misfortune.

[Destroit]

Prices of houses isn't the problem for me. Its the property taxes that never change except for when they go up in price. They don't adjust any lower unless you go into the tax tribunal and show that your home and others around you are going down in value. At that time, they MAY adjust the taxes lower. For this particular property, winter and summer taxes were around $5,000. That is basically a little over $400 extra a month to your monthly mortgage payment. I am going to try again in April, but maybe look a bit further west out by Brighton or Whitmore Lake area and out by Hamburg Twp. Seen decent homes for a good price, but maybe the property taxes will be much better there.

$5,000?!?! HOOOOLY SHIT. That's insane. Usually most of the taxes I see on like, let's say a $140,000 house around here would be like $1,600 - $2,100! Daaamn. You should move, and I mean outta that city not just your apartment .

[Rayne]

$5,000?!?! HOOOOLY SHIT. That's insane. Usually most of the taxes I see on like, let's say a $140,000 house around here would be like $1,600 - $2,100! Daaamn. You should move, and I mean outta that city not just your apartment .

Ours are more than that ... We live in the City of Ypsilanti. Over HALF our house payment goes to escrow. It sucks.

Reaper's house would have been in the Charter Township of Ypsilanti, where taxes are less than here, but still really high.

.... DON'T MOVE TO YPSI ... ANYONE!!!!

(and they just voted to RAISE taxes AGAIN)