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Stoner/Doom Bassists Thread, Part 90: Maxed Out

#7,441
I took a major bath on my first house, made a little on y second, and might make some on this one when I sell it. Will I make lots? Nah. I look at it this way: if I sell it for what I have in it, I lived there for free for however long I was there.
 
#7,442
bassboysam said:
When we got our $220,000 mortgage they showed us that over the course of the loan (30 years) we'd actually pay almost $800,000 for our home. So let's say we wanted to sell at the end of 30 years, for us to make any profit we'd have to sell it for $800,000 + inflation + all the money we've invested in maintenance. let's say that's $1.2 million. Not gonna happen, and that's just to break even.

If we were renting we could save on those interest payments and maintenance and invest it instead. Even a conservative investment yeilding 3-5% year will probably leave you with more money at the end. The other thing is if you sell your home to realize the profit you become homeless. And the only thing the profit is good for is to buy another home. If you rent you can use that profit in more ways since you don't have to become homeless to realize the profit from investments.

Having said all that we bought a home not as an investment but as security. We know we have a place to live barring any extreme circumstances. I don't consider homes an investment unless you're renting them out and are not your primary residence.
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i bought my house in 2010 for 311,000. right now i owe about 285k on it, yet houses in my neighborhood are starting to sell between 350-360K. unless the market tanks, i should be clearing 100k on my house in about 3 years. i have not paid anything close to 100k in interest. and had i been renting id be getting 0$ back after the end of it. the little amount in maintenance we have paid (AC, a few pipes) is miniscule in the grand scheme of things.

what kind of interest rate did you get dude? that sounds outlandish. if i keep my house for 30 years, with a 4.875% rate, i will pay 281K in interest, so my total amount paid is 311k+281k = 592k. if my house isnt worth less than double in 30 years, im living in the wrong area.

my parents bought their house in 1984 for 220k, mom has refi'ed a few times but the house is worth around 900k to 1m today (30 years later). what the hell is going on in moose country! haha
 
#7,443
Went to the lake, beers and trees and swimming. My friends dog suddenly after 13 years of life decided to half attempt fetch, but seemed to take it to be a game where he chased sticks and dragged them off or broke them in half. Then it turned into him getting so excited he tried to bite my ass cheek lol.

Then we brought a flint n steel and made fire along the sandstone cliff and then hiked back to the car. We kinda made our own trail on the return trip which required climbing up a cliff in the dark with phones in hands as flashlights. So crazy my friend was in the dark and in this day and age could quickly download a flashlight app and illuminate himself. Good thing as a snake chased him in the woods.

I also found this bastard. Wonder what it is...
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#7,444
But you live around D.C. which is an anomaly. Housing prices stay stable and even rising there when the rest of the country is going to hell because of all the govt/corporate infrastructure there. I live an hour and a half west of you. I bought a house 8 years ago for 84k... yeah 84k... that was REALLY nice for 100 years old. I spent 15k making it even nicer with tile and hardwood and real tasteful stuff. I sold it last fall, after it sitting with no offers for a year and a half, for 80k. Now I paid it more than halfway off in the time I was there, so I got a good chunk as a downpayment on our next place, which was nice, but MOST places are not D.C.
 
#7,445
How do wah pedals actually work? Like what do they actually do?

At last night's gig, another musician asked if in that one part of Catapult's song I was using like an envelope filter or some other effect like that, and since I don't know what that does either, I was just kinda confused, as I just switch on the big muff and rock my foot back and forth on my wah during that part. It occurs to me that I have no clue as to how the second part actually works, just that it makes things sound funny.


Also, why, after all these years, do SVTs still only do 4 ohms and 2 ohms? There are other heads that do 8, 4, and 2. So clearly it can be done. Why not have an 8 ohm tap?
 
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#7,447
This is true, however i was more confused by his interest calculation as that seemed way high.

The market should still go up, even if its not like dc, as long as he didnt buy in detroit his house should appreciate in value lol.

eyeballkid said:
But you live around D.C. which is an anomaly. Housing prices stay stable and even rising there when the rest of the country is going to hell because of all the govt/corporate infrastructure there. I live an hour and a half west of you. I bought a house 8 years ago for 84k... yeah 84k... that was REALLY nice for 100 years old. I spent 15k making it even nicer with tile and hardwood and real tasteful stuff. I sold it last fall, after it sitting with no offers for a year and a half, for 80k. Now I paid it more than halfway off in the time I was there, so I got a good chunk as a downpayment on our next place, which was nice, but MOST places are not D.C.
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#7,448
Blank_0101 said:
View attachment 445482
It's a bird... It's a plane... It's dually man!
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Hey guys I normally just lurk this thread for gear porn, but when askrere posted his dually problem i remebered this picture. I thought it was weird that his dually only has 3 ports. Did they adjust the size of your ports to make it so you only needed 3 or your tuning might be way off missing a port. Im pretty sure the dually I just bought from ron has 4 circular ports. And a quick look at greenboy shows 4. Just thought id mention it.
 
#7,449
Kaa said:
All went well, doc said I'm good for another 5-10 years.
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So your going to wait that long before your next exploration?

eyeballkid said:
But you live around D.C. which is an anomaly. Housing prices stay stable and even rising there when the rest of the country is going to hell because of all the govt/corporate infrastructure there.
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+1

Around here, the real estate market has been on a steady decline since the mid 90's. My parents house is worth 60% of what they paid for it, and the vast majority of property has gone that same way.


In other news I had a try out with a band last night. Brought my Mark VIII and the F212. On first look the singer said, "you're probably going to have to turn that all the way up." After the first song he remarked, "I dont every say this, but can you turn down." ;)
 
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#7,450
I bought my house for $75000 as it was a foreclosure. Dirt cheap for my area, cheaper than the small apartments I rented down here but I got a hankerin to move to if I can find a place where I can avoid weather related migraine triggers. So I dig my house and the laid back super low crime area I live in, but dread the thought of having to sell or rent it even though it should move fast. Plus where the hell am I ever going to find a home so cheap again.
 
#7,452
CL400Peavey said:
The reason I would buy a house in my area right now is that it is a buyers market. Because the value of property has hit rock bottom, it is the time to buy something. Even if it doesnt increase in value it is not likely that it will go much lower.
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Go buy a few and get your slumlord on! I am surprised the MI home market is so pricey. Back in Northeast PA it is still cheap. Must be lots of jobs there as no offense but I just don't think of people thinking boy I need to relocate to Wilkes-Barre Pa or the cold ass upper Midwest and get me some of that lol.
 
#7,453
beebassdude said:
i bought my house in 2010 for 311,000. right now i owe about 285k on it, yet houses in my neighborhood are starting to sell between 350-360K. unless the market tanks, i should be clearing 100k on my house in about 3 years. i have not paid anything close to 100k in interest. and had i been renting id be getting 0$ back after the end of it. the little amount in maintenance we have paid (AC, a few pipes) is miniscule in the grand scheme of things.

what kind of interest rate did you get dude? that sounds outlandish. if i keep my house for 30 years, with a 4.875% rate, i will pay 281K in interest, so my total amount paid is 311k+281k = 592k. if my house isnt worth less than double in 30 years, im living in the wrong area.

my parents bought their house in 1984 for 220k, mom has refi'ed a few times but the house is worth around 900k to 1m today (30 years later). what the hell is going on in moose country! haha
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originally it was close to 6%. it is around 3.7% now. Sorry I forgot, the calculation also included the estimated property taxes over the term of the loan.
 
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#7,454
Squanch72 said:
I bought my house for $75000 as it was a foreclosure. Dirt cheap for my area, cheaper than the small apartments I rented down here but I got a hankerin to move to if I can find a place where I can avoid weather related migraine triggers. So I dig my house and the laid back super low crime area I live in, but dread the thought of having to sell or rent it even though it should move fast. Plus where the hell am I ever going to find a home so cheap again.
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Even that is crazy high for a foreclosure in this area. My grandpa has been buying foreclosed houses in the $7,000-$10,000 range. Then spending about the same getting them back to rental status. They pay for themselves in two years, and everything past that is pure profit. On the flip side my parents bought their house for about $60k 25 years ago. It is in nice shape, and has had a number of improvements, but was appraised at $45k or so. Once you get to the really swanky part of town, houses do hold their selling cost value. A house worth $450k 20 years ago will still sell for that. But once you figure out what would have been spent on the house in interest and maintenance/improvements in that time, you are not going to come out ahead on the deal.
 
#7,455
Squanch72 said:
Go buy a few and get your slumlord on! I am surprised the MI home market is so pricey. Back in Northeast PA it is still cheap. Must be lots of jobs there as no offense but I just don't think of people thinking boy I need to relocate to Wilkes-Barre Pa or the cold ass upper Midwest and get me some of that lol.
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This is what my grandpa does. I spend a fair amount of time helping him, and hope to inherit management of them when he gets sick of it. My grandma hates that he has accumulated responsibility at this point in his life. She doesnt realize the financial security he has put in place.
 
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#7,457
CL400Peavey said:
Even that is crazy high for a foreclosure in this area. My grandpa has been buying foreclosed houses in the $7,000-$10,000 range. Then spending about the same getting them back to rental status. They pay for themselves in two years, and everything past that is pure profit. On the flip side my parents bought their house for about $60k 25 years ago. It is in nice shape, and has had a number of improvements, but was appraised at $45k or so. Once you get to the really swanky part of town, houses do hold their selling cost value. A house worth $450k 20 years ago will still sell for that. But once you figure out what would have been spent on the house in interest and maintenance/improvements in that time, you are not going to come out ahead on the deal.
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Oh man that is how PA is you can still find homes for dirt cheap like that. But I bought a 1920's farm home style down here that is in decent shape for $75000 tax and tags lol. To buy a small lot and put up a modular home here costs $160000, normal homes start in the $200,000 and go way way up from up there especially on the water around here which is stupid because water is everywhere here anyway it's a bunch of connected peninsulas.
 
#7,458
Blank_0101 said:
Went to the lake, beers and trees and swimming. My friends dog suddenly after 13 years of life decided to half attempt fetch, but seemed to take it to be a game where he chased sticks and dragged them off or broke them in half. Then it turned into him getting so excited he tried to bite my ass cheek lol.

Then we brought a flint n steel and made fire along the sandstone cliff and then hiked back to the car. We kinda made our own trail on the return trip which required climbing up a cliff in the dark with phones in hands as flashlights. So crazy my friend was in the dark and in this day and age could quickly download a flashlight app and illuminate himself. Good thing as a snake chased him in the woods.

I also found this bastard. Wonder what it is...
View attachment 446500 View attachment 446501
Click to expand...
Did the old dog not come back from his last fetch, that skull looks suspicious lol
 

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