Comments on: The Dream Home http://newlycorporate.com/2007/10/12/the-dream-home/ Work, life and the pursuit of happiness for the young professional. Fri, 21 Nov 2008 22:24:24 +0000 http://wordpress.org/?v=2.6.2 By: Newly Corporate » Blog Archive » The Top 10 Free iPhone Apps for Young Professionals http://newlycorporate.com/2007/10/12/the-dream-home/#comment-9752 Newly Corporate » Blog Archive » The Top 10 Free iPhone Apps for Young Professionals Fri, 01 Aug 2008 15:15:21 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-9752 [...] Puluwai - As I have detailed in a series of posts, I am looking to purchase a house or condo sometime in the future (as are many other young [...] [...] Puluwai - As I have detailed in a series of posts, I am looking to purchase a house or condo sometime in the future (as are many other young [...]

]]> By: How to Get On Track for Your First Down Payment on Your Dream Home : Brazen Careerist http://newlycorporate.com/2007/10/12/the-dream-home/#comment-7713 How to Get On Track for Your First Down Payment on Your Dream Home : Brazen Careerist Wed, 04 Jun 2008 11:19:08 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-7713 [...] blogger Brandon Alsup started months ago, the pursuit of the dream home. He started out with the basics of home buying and even detailed questions you should ask when buying a home. I have had similar experiences [...] [...] blogger Brandon Alsup started months ago, the pursuit of the dream home. He started out with the basics of home buying and even detailed questions you should ask when buying a home. I have had similar experiences [...]

]]> By: Newly Corporate » Blog Archive » The Dream Home (or Condo): Saving for a Down Payment http://newlycorporate.com/2007/10/12/the-dream-home/#comment-7669 Newly Corporate » Blog Archive » The Dream Home (or Condo): Saving for a Down Payment Tue, 03 Jun 2008 14:49:22 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-7669 [...] blogger Brandon Alsup started months ago, the pursuit of the dream home. He started out with the basics of home buying and even detailed questions you should ask when buying a home. I have had similar experiences [...] [...] blogger Brandon Alsup started months ago, the pursuit of the dream home. He started out with the basics of home buying and even detailed questions you should ask when buying a home. I have had similar experiences [...]

]]> By: Newly Corporate » Blog Archive » Dream Home: Know What You Want and Ask these Questions http://newlycorporate.com/2007/10/12/the-dream-home/#comment-122 Newly Corporate » Blog Archive » Dream Home: Know What You Want and Ask these Questions Tue, 06 Nov 2007 04:32:52 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-122 [...] article is part of The Dream Home series. Last 5 posts by brandonAGeneration Y Conservative? - October 28th, 2007Internet Taxes - [...] [...] article is part of The Dream Home series. Last 5 posts by brandonAGeneration Y Conservative? - October 28th, 2007Internet Taxes - [...]

]]> By: dan http://newlycorporate.com/2007/10/12/the-dream-home/#comment-83 dan Fri, 12 Oct 2007 23:50:59 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-83 1. http://www.zillow.com/ is a great place to find home values. This is especially useful if want to get an idea for what your current home or condo (if you own one) is worth. 2. The most important thing I learned in my real estate class (at the #1 real estate program in the country) is that ALL real estate markets are LOCAL. Even during a national down turn in real estate, some markets are booming. So make sure you get informed from local sources, not the USA today or WSJ. http://www.realestatejournal.com/buysell/openhouse/20070725-kim.html 3. I bought a condo in May and while I'm confident that its value will rise, this guy's digg post shook me to the bones. http://efinancedirectory.com/articles/This_is_Why_I_Rent:_Median_Incomes_Do_Not_Support_Median_Home_Prices.html 1. http://www.zillow.com/ is a great place to find home values. This is especially useful if want to get an idea for what your current home or condo (if you own one) is worth.

2. The most important thing I learned in my real estate class (at the #1 real estate program in the country) is that ALL real estate markets are LOCAL. Even during a national down turn in real estate, some markets are booming. So make sure you get informed from local sources, not the USA today or WSJ. http://www.realestatejournal.com/buysell/openhouse/20070725-kim.html

3. I bought a condo in May and while I’m confident that its value will rise, this guy’s digg post shook me to the bones. http://efinancedirectory.com/articles/This_is_Why_I_Rent:_Median_Incomes_Do_Not_Support_Median_Home_Prices.html

]]> By: brandonA http://newlycorporate.com/2007/10/12/the-dream-home/#comment-78 brandonA Fri, 12 Oct 2007 22:02:35 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-78 Tad, you raise some valid points, and working the market may lead to much greater gains. However, the market is much more risky while homeo wnership is quite safe. According the the Census Bureau the median home value has increased 90,000 dollars over the last 60 years. That is a very low ROI of course, but an ROI nontheless. http://www.census.gov/hhes/www/housing/census/historic/values.html My second point would be that your paying rent anyway, why not have some of that money be equity. A nice two bedroom apartment in Milwaukee may go for 1,300 a month in rent. However, you can purchase a home in the city with a 180,000 mortgage to purchase the home which carries a payment of 1,500 (including taxes) of which a portion is equity. Your already spending the money for a place to live, why not have a portion go to equity. Either way it comes down to prefrence. Thanks for your contribution. Tad, you raise some valid points, and working the market may lead to much greater gains. However, the market is much more risky while homeo wnership is quite safe. According the the Census Bureau the median home value has increased 90,000 dollars over the last 60 years. That is a very low ROI of course, but an ROI nontheless.

http://www.census.gov/hhes/www/housing/census/historic/values.html

My second point would be that your paying rent anyway, why not have some of that money be equity. A nice two bedroom apartment in Milwaukee may go for 1,300 a month in rent. However, you can purchase a home in the city with a 180,000 mortgage to purchase the home which carries a payment of 1,500 (including taxes) of which a portion is equity. Your already spending the money for a place to live, why not have a portion go to equity. Either way it comes down to prefrence. Thanks for your contribution.

]]> By: Tad http://newlycorporate.com/2007/10/12/the-dream-home/#comment-77 Tad Fri, 12 Oct 2007 21:07:02 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-77 I'm a firm believer that renting is not "throwing your money away" but more importantly, it's a better long term investment than purchasing real estate. Consider: by purchasing a house/condo, you are locking a significant amount of your assets in one extremely illiquid investment. While real estate prices have seen phenomenal gains in the 1990's, historically they do not out-perform the market. More so, home ownership carries additional burdens of taxes, insurance, and maintenance that further discount any investment gain. Instead, I plan to continue renting and investing the bulk of my assets in the stock market that has historically returned upwards of 10% per year. Of course, home ownership carries with it psychological value and obviously many people value this very highly. Just wanted to throw in my $0.02 regarding the question of economic gains and the rent = "throw your money away" myth. I’m a firm believer that renting is not “throwing your money away” but more importantly, it’s a better long term investment than purchasing real estate.

Consider: by purchasing a house/condo, you are locking a significant amount of your assets in one extremely illiquid investment. While real estate prices have seen phenomenal gains in the 1990’s, historically they do not out-perform the market. More so, home ownership carries additional burdens of taxes, insurance, and maintenance that further discount any investment gain.

Instead, I plan to continue renting and investing the bulk of my assets in the stock market that has historically returned upwards of 10% per year.

Of course, home ownership carries with it psychological value and obviously many people value this very highly. Just wanted to throw in my $0.02 regarding the question of economic gains and the rent = “throw your money away” myth.

]]> By: Brandon http://newlycorporate.com/2007/10/12/the-dream-home/#comment-75 Brandon Fri, 12 Oct 2007 18:10:39 +0000 http://newlycorporate.com/2007/10/12/the-dream-home/#comment-75 2 Suggestions: 1. Checkout <a href="http://www.redfin.com/stingray/do/buy" rel="nofollow">Redfin</a> it's a pretty awesome way to save 10,000 buying a house if you are willing to try it and are in their coverage area. 2. Try the <a href="http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html" rel="nofollow">Rent vs Buy calculator</a> from the New York Times, it's a great graphical tool to help you make the decision on whether to rent or buy. 2 Suggestions:

1. Checkout Redfin it’s a pretty awesome way to save 10,000 buying a house if you are willing to try it and are in their coverage area.

2. Try the Rent vs Buy calculator from the New York Times, it’s a great graphical tool to help you make the decision on whether to rent or buy.

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