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  • #31
    Originally posted by bsaza2358 View Post
    One of my best friends' girlfriends' sister and brother live in separate units in a nice condo building in Fort Lee that seems to be relatively affordable. I think they got pretty spacious units with balconies for the mid-$300's. That is doable for many people, but they're dual income households. The brother is the chief analyst for a hedge fund and has 3 graduate degrees, so I think he pays the mortgage by himself. I can get you the address of that place if you PM me. I was also led to believe that certain projects in Brooklyn and Queens can be had for a reasonable price. Of course, reasonable in NY is probably sickening. haha.
    Fort Lee isn't exaclty near where I am now or where I work. I'm pretty lucky that I work in the suburbs of Central Jersey and don't have to commute further north or to NYC like most people my area do. There is a small commerical business area built around a busy train station in Central Jersey. Easy commute for me now.

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    • #32
      Fair enough. I figured Jersey + close to NY = right around there. No worries.



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      • #33
        Originally posted by bsaza2358 View Post
        Fair enough. I figured Jersey + close to NY = right around there. No worries.
        Easy enough assumption. As much as I love the city and the Giants/Yankees, I'm more of a Jersey Shore guy. Ideally I'd eventually like to get a condo somewhere down by the shore, or 15-20 minutes away.

        Question though. Although is may be a little too personal. Are you worried at all about buying with your girlfriend? Don't know how serious you to are, but that can always complicate things.

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        • #34
          We've been together 5 years off an on. On for about 3, then broke up for about 6 months. In that time, I sewed my oats and such, and got my priorities straight. Got back together 2 years ago, and it's been amazing. We are very compatible, and we're both quite sure we're right for one another. To protect ourselves, we put together a written contract spelling out the ownership and such in the event of a breakup. We're being smart.



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          • #35
            Originally posted by bsaza2358 View Post
            We've been together 5 years off an on. On for about 3, then broke up for about 6 months. In that time, I sewed my oats and such, and got my priorities straight. Got back together 2 years ago, and it's been amazing. We are very compatible, and we're both quite sure we're right for one another. To protect ourselves, we put together a written contract spelling out the ownership and such in the event of a breakup. We're being smart.
            Thats good then. Obviously the best situation for buying a house is having two incomes. I've only been with my girlfriend for 6 months. Things are great, but I'm definitely no where ready to make such a committment.

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            • #36
              Probably wise. We're behind the curve a bit for how long we've been together, but with the breakup in the middle, I think taking it slow was the right move. Getting this place will cost us less than $1000 more a month, but we get a gym and a pool, plus all utilities. We have the money to get it done, so it's exciting to build equity.



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              • #37
                Originally posted by bsaza2358 View Post
                The DC market is different than most others because DC has lower unemployment than any other big city in America. Between the city governments, federal government, military, huge nonprofit industry, plus private industry, people make solid money and can get new jobs more easily. Plus, with congress changing every 2 years and the executive branch always in flux, there is a decent amount of turnover in the area. People come and go a lot, which means the market stays decently active. Right now, it's in a downswing with a lot of capacity, but after the new President and Congress comes in, I expect things to pick up. We'll probably hold for a bit because we got a great first time homebuyer rate, and we have to recover from the outlay of the down payment, etc.
                the dc market is weird. it's closer to the way NYC works than chicago, philly, boston, or LA. it's just so god damn expensive. i was paying 1800 for a small 3 bedroom.

                congrats on the house. everyone who can get one should get one. especially if you have the money. owning a house is a grand idea.
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                • #38
                  I think NY is just out of control with real estate in general. The prices there are just absolutely sick. In DC, they're outrageous, but you can live there. NY is just unreal, but that also forces gentrification, which is good. DC real estate has started to do that, which helps the market. I think the elections will help swing the market back, but we're not moving out or selling for at least 2 years. This is one of the last moves I ever want to do. Ideally, we will take the equity and profit from the condo and move it into a small house, which can later be moved into my permanent home. I hate moving...



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                  • #39
                    the market down here in Florida is horrible...my wife and I got a good deal on our home but when the market comes back up we're going to bank...

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                    • #40
                      I would guess it depends on the area of Florida. That real estate is more in line with the rest of the country, but I would anticipate bigger swings in highs and lows. DC and NY and maybe Boston have shallower swings in price, but terms (closing costs, cash at closing, etc.) shift a lot. The baseline prices are so ridiculous, you need to be wealthy or speculative to own a lot of stuff anyway.



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                      • #41
                        Originally posted by bsaza2358 View Post
                        I would guess it depends on the area of Florida. That real estate is more in line with the rest of the country, but I would anticipate bigger swings in highs and lows. DC and NY and maybe Boston have shallower swings in price, but terms (closing costs, cash at closing, etc.) shift a lot. The baseline prices are so ridiculous, you need to be wealthy or speculative to own a lot of stuff anyway.
                        It's pretty bad all around. I know here in St. Augustine it's terrible, because the Jacksonville area is (or was) growing rapidly and St. Augustine is a popular place to live and then commute to Jacksonville.

                        But yeah, the resort places in South Florida that are usually high are probably out of whack.

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                        • #42
                          Originally posted by The Unseen View Post
                          It's pretty bad all around. I know here in St. Augustine it's terrible, because the Jacksonville area is (or was) growing rapidly and St. Augustine is a popular place to live and then commute to Jacksonville.

                          But yeah, the resort places in South Florida that are usually high are probably out of whack.
                          yea, my parents just bought a house in St. Augustine...kindof of like a timeshare but not really...but they paid out the ass for it....Jacksonville real estate is the same way...

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                          • #43
                            In the suburban areas just outside of DC, a 3 level townhome with a tiny yard and a garage can cost up to $1mm. These places have a decent amount of space and are in desirable areas. They are generally close to public transit. The further you go from public transit and the city, the prices stay the same for single family houses in good school districts. It can get pretty sick around here.



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                            • #44
                              Originally posted by bsaza2358 View Post
                              In the suburban areas just outside of DC, a 3 level townhome with a tiny yard and a garage can cost up to $1mm. These places have a decent amount of space and are in desirable areas. They are generally close to public transit. The further you go from public transit and the city, the prices stay the same for single family houses in good school districts. It can get pretty sick around here.
                              Wow, that sucks. I watched a show on HGTV (yes I watch that) and it was about what $500,000 can buy you in different cities. In Arkansas it bought you a huge mansion and in NYC it could barey afford a little apartment.

                              Houston is really cheap but I lived there almost my whole life so I might want to try something different once I get older and ready to start saving up. Houston is probably the only city in the US that gets happy when oil prices go up. Everyone and their dog can get a job in the oil industry right now.

                              Did your gf call dibs on closet space? haha

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                              • #45
                                Originally posted by jayceheathman View Post
                                Wow, that sucks. I watched a show on HGTV (yes I watch that) and it was about what $500,000 can buy you in different cities. In Arkansas it bought you a huge mansion and in NYC it could barey afford a little apartment.

                                Houston is really cheap but I lived there almost my whole life so I might want to try something different once I get older and ready to start saving up. Houston is probably the only city in the US that gets happy when oil prices go up. Everyone and their dog can get a job in the oil industry right now.

                                Did your gf call dibs on closet space? haha
                                HGTV is one of the best channels out there...practical...I watch it all the time...it's great for those people who do own homes, you can learn alot by just watching them put in tile or repaint a room or numerous other things...I learned how to run my surround sound speakers through the attic by watching HGTV...

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