On Aug 28, 7:57 am, Too_Many_Tools wrote:
On Aug 27, 8:19 pm, Half-Nutz wrote:
On Aug 27, 8:14 pm, Too_Many_Tools wrote:
On Aug 27, 7:49 pm, Too_Many_Tools wrote:
On Aug 27, 7:33 pm, Too_Many_Tools wrote:
On Aug 27, 5:38 pm, Larry Jaques
wrote:
On Mon, 27 Aug 2007 14:42:29 -0700, with neither quill nor qualm,
"azotic" quickly quoth:
The article in the link is of concern to anyone with a home shop. If
you have a neighbor thats a pain in the ass now just wait till he has the
power he so desires to run your life with the full force of the law
to back him up.
http://www.coloradoan.com/apps/pbcs....070827/NEWS01/...
I can take one look at that ******* and know he wants something I
don't in a neighborhood. Egad, what's this country coming to?
Socialized color schemes and coordinated lawn colors aren't far off,
are they?
--
According to our strength of character and our clarity of vision, we will
endure, we will succeed, we will have contributed something to make life
where we were and as we lived it better, brighter, and more beautiful.
-- Frank Lloyd Wright
Egad, what's this country coming to?
Socialized color schemes and coordinated lawn colors aren't far off,
are they?
LOL...I know of neighborhoods where that is the REQUIRED norm.
Ignore their rules at your own risk....they have the power to
foreclose on your home...and they do.
And I also don't live there...and NEVER will.
TMT- Hide quoted text -
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"pocket-Nazi's."
I like that term....and I have known a few also.
Always a PITA to live next to....and they are ALWAYS worrying about
their neighbor's business.
They are the kiss of death to a HSMer.
TMT- Hide quoted text -
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One of the readers had a good point...
"As someone who is/was planning to move to Ft.Collins in the near
future, I am very concerned that could even be considered. I would
look specifically for homes without HOA's.
I know HOA are popular; many people really believe that HOA improve
thier future property value. I believe that by giving away some of
these rights in the Property ownership you will in fact,decrease the
value of the Property.
I totaly agree with Harold
If HOAa are so wonderful, why do real estate ads scream NO HOA when
advertising a non HOA home for sale? Do you ever see a real estate ad
even mentioning that the home is in an HOA?"
A very good point...I have seen ads that mention "NO HOA" but none
that advertise it as a selling point.
Now the other viewpoint is that a HSM could get on the board and
require each home to have a fully equiped shop....then one would have
someone to borrow tools from. ;)
TMT
Unless you are selling, or financing Past your ability to support, WHY
would you want you property values to rise?
It is just another form of tax increase.- Hide quoted text -
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Unless you are selling, or financing Past your ability to support, WHY
would you want you property values to rise?
It is just another form of tax increase.- Hide quoted text -
Because people take second mortgages out on that increased property
value to spend on toys.
And that is what has been propping up the Bush economy these last few
years.
Sit back and watch what is going to happen soon to the economy when
people can't borrow against their house's increasing values. My banker
tells me that he has had many very mad and desperate people in his
office when they find out they can't get any more money out of the old
homestead.
You are right that it is another form of tax increase which local
governments have been quick to take advantage of.
Now that house prices are dropping like a rock, those high property
taxes will be around for quite awhile....and the owners will be stuck
paying them for a house that is much less than what they paid for it.
In the right neighborhoods, one will be able to buy two houses for the
price of one...one to live in and the other to put your retirement
shop in.
TMT- Hide quoted text -
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The day to buy a house to convert into your shop that may not be that
far away.....
Of course the HOA would need to give you permission....after you ask
"Pretty Please".....
TMT
Subprime mortgage woes spreading Wed Aug 29, 2:07 AM ET
The subprime mortgage crisis is spreading to a somewhat unexpected
place: homes costing more than $500,000.
As lending has rapidly gotten more restrictive for borrowers taking
out large loans, sales of expensive homes have fallen sharply around
the country during what should be one of the busiest seasons for
buyers and sellers, mortgage bankers and real estate agents say.
To some degree the change is due to difficulty getting financing, as
borrowers are finding fewer lenders willing or able to fund "jumbo"
mortgages, loans for amounts greater than $417,000. Such loans are too
big to be guaranteed by government-sponsored housing finance agencies
Fannie Mae, Freddie Mac or Ginnie Mae.
Given the troubles in the subprime sector, investor appetite for all
types of mortgage loans not guaranteed by housing finance agencies has
nose-dived.
Banks until recently were able to offload the risk of many jumbo
mortgages by selling the loans to investors. But now, as investors
burned by the subprime debacle have become extremely picky about what
they will buy, banks are having to keep more of these loans on their
own books and as a result are charging higher rates.
Some lenders - such as Countrywide Financial Corp. - have made a point
of saying they're now most focused on making loans that can be
guaranteed by Fannie and Freddie.
Other lenders have simply tightened up their lending standards, for
example by no longer making jumbo loans to lenders who can't fully
document their income, even if they make large down payments and have
stellar credit histories.
The banks that are still making jumbo loans are charging substantially
higher rates to compensate for the lack of investor demand. Borrowers
who could have gotten rates as low as 6.5 percent in June are now
having to pay as much as 9 percent.
But aside from the financial impact of higher rates, in certain high-
priced real estate markets, the effect of the suddenly tighter lending
environment is more psychological, mortgage bankers and real estate
agents say, as buyers and sellers alike don't want to plunge into an
uncertain future.
"Showings are down, contracts written are down, and sellers are just
as backed away as buyers are," said Lou Barnes, a partner in mortgage
bank and brokerage Boulder West Financial Services in Boulder, Colo.
The company arranges for financing on many higher-priced condominiums
and houses in the state.
"I think the psychological damage is worse than the financial damage"
which is already bad enough, he said. Even for buyers who have plenty
of cash or can easily afford higher mortgage rates, the sudden change
in the financing environment reduces "the ardor to buy a house unless
you have to," he adds.
With numerous buyers and sellers sidelined, the higher cost of big
mortgages is bound to put downward pressure on home prices should the
lending environment stay tight for a long period of time, said Ellen
Bitton, president of Park Avenue Mortgage, a mortgage bank and
brokerage that does business in several states, including New York,
Florida and Utah.
In New York, the most pronounced effect so far has been at the very
top end of the market, for properties priced $25 million and above,
said Dolly Lenz, vice chairman with Prudential Douglas Elliman.
"Every single person I have at the highest end is on hold. They're
going to wait and see what happens," she said. "It has nothing to do
with them being able to afford" properties or not, Lenz added. "It's a
confidence thing. They somehow feel poorer, whether they are or not."
In California, where the median home price is well above $500,000,
jumbo mortgages are as much as 44 percent of all mortgages issued in
certain metro areas, according to data from First American
LoanPerformance.
In and around San Francisco, where the median home price is about $1.1
million, the tougher financing environment has created a "hesitancy"
and has led to some canceled escrows for buyers around the $1 million
range, said Rick Turley, president of the San Francisco and Peninsula
Region for Coldwell Banker Residential Brokerage.