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Old 01-29-2008, 02:03 PM   #41
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So true, AllenOK. I love it when people move here from California because they are amazed and delighted to see what they can buy here vs. there. You can buy a very, very nice home here for 350,000 but in Silicon Valley, you'd be hard pressed to buy a garage for that. (Of course, salaries vary too from location to location in part to take into account cost of living.)
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Old 01-29-2008, 02:12 PM   #42
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Here is something you should look into. Someone posted this earlier and it is something I have thought about doing.

Utah Real Estate - Your One Stop Source for Searching Real Estate in Utah

You get half of your mortgage paid, or more, and you will have something that will gain you money in the future. If you can look into a 15 year loan, I only pay a couple hundred extra and A LOT less interest.
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Old 01-29-2008, 02:16 PM   #43
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Wow, this is a good thread!

One thing to remember, is LOCATION, LOCATION, LOCATION! Also, the Law of Supply and Demand.

I live out in the sticks, within a stone's-throw of Tulsa, OK. I literally mean "the sticks", too. I wake to two of my neighbor's roosters bragging to each other about the size of their flocks each morning. Another neighbor has horses. A fourth has cattle. We hear coyotes at night sometimes. We're currently renting a Rent-to-own house, about 2700 sq. ft, 4 bedrooms (technically, there's another "study" that we use as a bedroom as well), 2 1/2 bath, 1 1/2 car garage. Not sure how much land, exactly, but I'm guesstimating over an acre (takes me 3 hours to mow it with a push-mower). The owner wants $120,00 for the whole schmear.

Go into Tulsa, and the prices get higher for smaller homes. More demand for homes, less supply, unless you're willing to live in the newer suburbs and pay $$$$ for BIG new homes.

For what you all are talking about pricewise for housing, if I were to pay that kind of money here, I'd better be living in a freaking mansion on the south side of Downtown.


jpmcgrew, Eagle's Nest, halfway between Cimmaron and Taos? That was a really nice-looking area back in '92, the last time I was out there.
You are right Allen, Angel Fire is 11 miles from Eagle Nest and Taos is about another 25 miles from AF. Beautiful country but not cheap
Search Angel Fire, Red River, Moreno Valley NM Real Estate Listings For Sale
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Old 01-29-2008, 02:26 PM   #44
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i have seen a few duplexes around here for a good deal. they just needed a lot of work. there is so much to know when buying a house or even a car.
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Old 01-29-2008, 02:31 PM   #45
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From our land you can see Eagle Nest lake to the left and in front you can see Mount Wheeler highest peak in New Mexico. We are right next to a mountain and on one lot we have a little forest with an under ground stream that comes up in the summer wide enough to to not be able to jump over very easily.
Sangre de Cristo Chronicle, Angel Fire, New Mexico
The Sangre de Christo Mountains translated from Spanish means Blood of Christ. Welcome to New Mexico. Land of Enchantment.
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Old 01-29-2008, 02:34 PM   #46
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ok this house right here
Search Angel Fire, Red River, Moreno Valley NM Real Estate Listings For Sale

with 4.2 acres of land and a gorgeous interior for 658,000$ vs's my next door neighboors house
Utah Real Estate - Your One Stop Source for Searching Real Estate in Utah

i would rather live in NM. the house above is was originally built in the late 1800's early 1900's but they still want almost a mill for it when i can spend that much and live in NM for like 10 times the land and have horses.
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Old 01-29-2008, 02:38 PM   #47
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i have seen a few duplexes around here for a good deal. they just needed a lot of work. there is so much to know when buying a house or even a car.

It's often easier for young people starting out with lower incomes to qualify for a mortgage on a duplex than on a single family house because the lender will consider your rental income also.
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Old 01-29-2008, 02:59 PM   #48
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GG, I'm not saying everyone makes a profit when they sell a home. What I was saying was, in the long term a homes value will go up.....no matter what. 15 years from now your house and everyone elses will be worth more. Now, if you were smart and didn't keep borrowing againt your equity, you'll still be paying the same amount of money.

Every time there's a spike in home values it will drop for a while. Your friend made a big mistake buying in a sellers market, but if they stay there tables will turn and they will be in good shape.

The realtor comment was to another poster.
I agree that the "value" always goes up in the long term but you have to think about it in real terms and compare the increase with the changes in monetary value and inflation. So while your house may be going up but not as fast as salraries & other costs, it's effective (comparable) value is actually decreasing. It may also change effective to another area when you are moving, so your house may not grow in value as fast as another area which may cause problems when you are selling in order to buy somewhere else.
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Old 01-30-2008, 02:00 AM   #49
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if i had the money right now i would buy this one.

Utah Real Estate - Your One Stop Source for Searching Real Estate in Utah
"Bar Wet?" I think if I were listing an almost $4 million house, I would have someone proofread the copy a little better! LOL

Nice house, but I would certainly want a staff to clean/maintain something that huge!

Barbara
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Old 01-30-2008, 03:18 AM   #50
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I think houses will start to go down in a lot of places. Another way to get good deals on houses is to check the VA and HUD foreclosures..they are usually listed in the newspapers (classified section) on Fridays..at least they are here.
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