I am going to be very broke for a long time.

Rogue Cobra · Nov 21, 2005

Looks like all my plans to do any work to the F150 or the Vette have been put aside for now.

I will be closing on a home in West Salem on Dec. 1st. All my current and future money will be going into that. One cool thing is, it has a three car garage.

Rootus · Nov 21, 2005

Congrats, Patrick, that's awesome! And if you're able to afford to keep the toys, that's even better. Excellent!

Dave

SMOKEDYA · Nov 21, 2005

just courious what you paid for it and what you get? news channel 8 did a story on house prices and for what you get here for $256,000.00 you get a whole lot more in texas. and for the same amount of money you get a 1 bdr with 1 car garage and it's like 800 SQ. FT in seattle. a lady said they make it harder and harder for the average person to afford one. peace

john

Jon · Nov 21, 2005

Congrats on the house purchase! My wife and I just bought one and they are priced so high these days. It's rediculous. Kind of hard for the first time buyer with no previous equity.

Johnnb · Nov 21, 2005

That's the way it is in So. Cali because the markett is so out of control. If you don't have a job that pays you a million or more a year or at least $4-500k in equity in your house already then first time home buying is not going to happen.

Hell they started selling apartments, as you could buy an apt from the apt complex that you were living with and a 800sf apt 5 years ago was $250k and I can't even imagine where they are now.

My wife and I are looking right now at a place that's not too bad, it's 1,799sf with two car garage and huge back yard with RV parking for $245k.

Owning a house scares me but is kind of exciting all the same.

hungrymonkey · Nov 21, 2005

probably one of the better investments you can make though.

congratulations

Rogue Cobra · Nov 22, 2005

Thanks! I am hoping it will be a good investment!

89SportVert · Nov 22, 2005

I've had mine for 10 years and it has increased 70%. Not So-Cal great but better then a jab in the eye with a sharp stick. Congrats on your acquisition!

Johnnb · Nov 22, 2005

That house is sweet, and the large garage is even better, I like it!

70% is nothing to bat an eye at that's for sure as I would be more then happy if my house was to do that after that lenth of time.

jordanvraptor · Nov 22, 2005

Broke? Well, at least you can't blame it on racing me...

fastang2k1 · Nov 22, 2005

Patrick, congrats on the house. 3 car garage? Too bad you'll be broke. If you find extra money, save the open space for another Cobra.

The Factor · Nov 22, 2005

Congrats Patrick, thats a beautiful home

WaterPog · Nov 22, 2005

for all you guys who keep complaining about housing prices I've got 3 words...

Urban Growth Boundary

Keep voting for people who won't do anything about that (read democrats, and rhinos) and housing prices in oregon will continue to spiral out of reach of normal people.

On a happier note, looks like a real nice place there, congratulations.

Rootus · Nov 22, 2005

WaterPog said:
for all you guys who keep complaining about housing prices I've got 3 words...

Urban Growth Boundary

Keep voting for people who won't do anything about that (read democrats, and rhinos) and housing prices in oregon will continue to spiral out of reach of normal people.

It's not quite that simple. Even without pushing the urban growth boundary ever farther into the sticks, capitalism will take care of this price/income mismatch. Always does.

Dave

SMOKEDYA · Nov 22, 2005

Johnnb said:
That's the way it is in So. Cali because the markett is so out of control. If you don't have a job that pays you a million or more a year or at least $4-500k in equity in your house already then first time home buying is not going to happen.

Hell they started selling apartments, as you could buy an apt from the apt complex that you were living with and a 800sf apt 5 years ago was $250k and I can't even imagine where they are now.

My wife and I are looking right now at a place that's not too bad, it's 1,799sf with two car garage and huge back yard with RV parking for $245k.

Owning a house scares me but is kind of exciting all the same.

funny you mention cali., cause the other week or so i heard on mark and brian that there in L.A. that for $500,000.00 you could get a decent house BUT for $250,000.00 you could get a real "FIXER UPPER" peace

john

hicalibrbulit · Nov 22, 2005

Congrats on your purchase Patrick. A very good place for your money right now, if the housing market maintains this rate of increased values (unlikely, but worth the gamble). There's not a better long term investment around. Having moved from SoCal, we were able to triple the size of our house for less than we sold for. Of course, we can never move back!

WaterPog · Nov 23, 2005

Rootus said:
It's not quite that simple. Even without pushing the urban growth boundary ever farther into the sticks, capitalism will take care of this price/income mismatch. Always does.

Dave

no, in this case it really is that simple.

The problem is that the land just isn't there, in no small part because of the grown boundary.

Capitalism will take care of it, by forcing most "working class people" into high density housing, aka apartments and condos.

The free market can't fix the problem when the supply is artificially limited by government.

BLK_DVL · Nov 23, 2005

Congrats on the new house Patrick, what car is going to fill that third garage slot?

lamrith · Nov 23, 2005

I know up here the prices spiked moslty in the last year or so. Our house sat at 20% for a while. Based on what I have heard in the last few months in the immediate area, it has probably jumped to to 65% now. and that has been in a year or two a solid 45%+ jump.

Congrats on the house man. It really is worth the time and $$ Remember put the project car at the far end of the garage from the house.. that way when the significant other comes and goes she may not see all the goodies you are sneaking onto it!!

Rogue Cobra · Nov 23, 2005

Thanks Everyone! I am sure it will be a good thing. I am right now in the "OMG, what did I do phaze". For right now I will be parking the Vette in the middle of two, so I can work on it(detail). I would like to think someday I will fill the other space with a new GT-500 or maybe a 69 Mach 1. That would be cool. Of course the new GT-500 would have to be red with white stripes.

Patrick

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