Sun 25 Jan 2009
Comp Killer Sunday Football Edition
Categories: Comp Killer , Housing Bubble , New Jersey Real EstateToday’s comp killer comes to us courtesy of Luxist
Turns out football superstar Terrell Owens is significantly underwater on his Moorestown, NJ estate.
His property, on Cove and Landing in Moorestown, was purchased in May of 2004 for an astounding $3.9 million dollars. The property is currently listed by Prudential Fox and Roach Realtors.
Spread out over 5.7 acres, the estate features 5 bedrooms, 9 bathrooms, 3 car garage, adult game room, roman path, pool, jacuzzis, and on and on.
Luxist reports that this listing came on the market at $3.4 million, $500,000 under the 2004 purchase price. Current asking price on the property is $2.96 million, $940,000 below purchase, or approximately a 25% cut from the original purchase price. A steal for a home that was featured on MTV Cribs!
Turns out that Owens originally listed the property for sale for $4.399 million according to the Inquirer Early Word Blog in a report back from 2006. That would put this property at roughtly 38% under the original list price. Another article in the Inquirer puts the original list date sometime in October of 2005, a year and a half or so after purchase.
Update, 7:52am
Gets even better, found another Prudential Fox and Roach listing via Trulia that puts the current asking at $2.675 million. The property is now listed at $1.225 million below purchase, a 31% discount to Owens’ original purchase price and an amazing 44% below the original list price.
good morning!
He can afford to give this home away to a homeless shelter, I would not worry too much about Terrell.
But little guys like us is another story.
British economy is on the brink
Arriving back at Heathrow Airport at 4am on Monday morning, after a couple of hours sleep on the flight back from Jerusalem, Gordon Brown was at his desk in 10 Downing Street an hour later.
In just seven days, Barclays has lost almost two thirds of its value – a colossal £10bn.
Experts argue that the government cannot fix the problem because it has still not understood the scale of it. The balance sheets of many of the world’s largest banks more than doubled within a few short years, mostly with a vast increase in debt.
The Bank of England says the average ratio of debt to equity within British banks is more than 30 to 1. In other words, the bank balance sheets are roughly 440 per cent of Britain’s GDP.
As a result, the government is too small to help, in trying to bail out the banks, is in danger of chucking not just good money after bad but the entire economy after the banks.
‘We are happily, and with decreasing morality, pledging our offspring to vast debts by chucking vast cheques at every problem that comes along,’ said John Moulton, founder of private equity house Alchemy Partners.
Worse, some argue that it isn’t even necessary. Few would doubt the centrality of the banking system to Britain’s economy. But the growth of the banks has been due to foreign expansion, not domestic.
Stanley Fink, the new Tory treasurer and one of the City’s most respected players said: “The government has been too simplistic about targeting Britain’s help.
“Three-quarters of the balance sheets of British banks is overseas lending so the government is handing out the scarce resources of taxpayers to ease the debts of people around the world.
“The government should be helping global banks with British operations rather than British banks with global operations.”
It would give me the creeps buying a place that I knew a jacka$$ like TO used to live in.
http://medheadlines.com/2009/01/23/coffee-today-keeps-dementia-away/
Good news, Gary…Drink all the coffee you want…
I posted this on the previous thread.
#
#
bairen says:
January 25, 2009 at 7:13 am
And in Mighty Madison we have a renovated ranch for 439k.
http://www.realtor.com/realestateandhomes-detail/Madison-Boro_NJ_07940_1105599961
What’s funny is if you read the agents description she includes the OLP 464k.
POS capes and ranches that hadn’t been renovated in 30 years were listing for 520 to 550k in March 2007, usually backing on the train or under a transformer.
Turns out this is an approved short sale. There’s also a house at 440k on the new.gsmls site in Madison as a preforeclosure. I thought Madison only goes up?
“Experts argue that the government cannot fix the problem because it has still not understood the scale of it.”
Does this not apply here as well. The real drag on the U.S. economy seems to be consumer debt, to be more exact — lack of positive net worth.
As long as people have debt they have either little ability to pay or little prospect of paying they are not in a position to pay prices that will “stabilize” housing prices.
It is like throwing a rock into the air and wanting to “stabilize” it at or near its high point.
Why in the future we’ll have a HUGE Mortgage Meltdown (12 minute video):
http://www.cbsnews.com/video/watch/?id=4668112n
For Jamil:
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5575883.ece
I admit it, I voted for our current president, just to ensure that I did my part to get rid of the old administration. Consequently I’ve learned the hard way that it is “meet the new boss same as the old boss”. Sure they’ll make some ceremonial and sanctimonius changes but in the end it’s the same government supporting itself.
I make a pledge from this day forward I will only vote Libertarian.
This place stinks of failure.
11 That’s pretty funny but it sure as hell isn’t me.
Cindy, 5
That is sooo great!!
Now… if… I… could…just…..find.where.I.left…that..cup of….coffee…
Dang it….how do I make coffee…
Hmmmm wtf is coffee?
Where am I?
uh…who am I….well, shit. Who are YOU??
…
dementia…man, does it ever suck!
sl
(13) Still - Got a card last night that said…
“We’ll be friends till we’re old and senile!”
Then we’ll be NEW friends!
http://dailybail.com/home/2009/1/25/there-are-no-words-to-describe-the-following.html
Extreme warning…Expletives -
from the Daily Bail - Youtube - One individual’s view of things…
SL /Cindy….
As I read that article, I looked down at my current cup of coffee with renewed interest….
I am a coffee sipper. I drink about 1/2 cup a day. I’ll have to start gulping.
Might make me zoom around more…just what my hubbie needs….
:)
jamil says:
January 24, 2009 at 8:30 pm
“admit that Sarah Palin was a horrible, horrible running mate choice for the old man.”
I have to disagree. Palin was a great choice and she energized the party. Without her, Mc would have been toast much earlier (in fact, MC was leading in polls with Palin until the bailout mess). Why can’t you admit: Palin was clearly successful governor - with real leadership experience - and enjoying wide bipartisan support.
i feel sorry for you. i really do.
Cindy,
Thanks. That made my day. I especially appreciated his description of the commode with legs.
14 Cindy
I think that might be Gary’s long lost cousin.
I don’t know what was funnier, the rant or the fact that he was ranting about a $35,000 toilet while he was ranting in the bathroom. The duckie shower curtain really made the video.
(15) Spam - It was great news for me - about 5 cups a day. A must after lunch - simply a must…no soda to speak of… Just sugar in the coffee.
(18) Lost - Cracked me up - one fed up dude.
20 Cindy
At lease he made himself happy at the end.
Gator
Re: Verizon ending service
We called Time Warner last night and they refused to give us the package deal. They also wanted to charge extra for voicemail and would not apply the 10% discount we get towards the phone service. So we went with Vonage. Same price as Verizon and seems to be the same service. I’ll let you know how it is when we hook it up.
Re: Terrible Owens - couldn’t happen to a more deserving guy.
Cindy [14],
Ok, so now you all know who I am! ;)
#24 gary,
I didn’t know you had a brother in the south.
That’s a funny motherf!!!
bairen,
That’s my twin brother, we were separated at birth. Picture the same rant with a New York accent and you have me. Actually, my brother is a lot more intelligent than I am.
#26 gary
Put up some youtube videos. Maybeou can get on Leno!!
I think I’m changing my handle to TARPED OUT
Big Inflation Coming-
“The growing legions of deflationists see an unstoppable depression-like deflationary spiral approaching like a freight train. They cite some convincing data. The stock markets have been cut in half in just a year. In the past 6 months, some key commodities prices fell farther and faster than they did in the entire Great Depression. House prices are down by double digits across the nation, with no bottom in sight. And credit is a lot harder to come by today than in any other time in modern memory.”
http://www.zealllc.com/2009/biginf.htm
http://globaleconomicanalysis.blogspot.com/2009/01/is-big-inflation-coming.html
(29) Cooper - Mish featured comments on that article today that might be worth checking out as well.
http://www.marketwatch.com/news/story/Davos-stars-left-dig-out/story.aspx?guid=%7B76571337%2D57B5%2D4A0B%2D8A9C%2D85FC0DE6B156%7D
Economic Avalanche - Davos..
“A global economic crisis won’t be enough to keep CEO’s and high-flying financiers away from the helipads in Davos next week, but the corporate elite will no longer be the stars of the show when the World Economic Forum’s yearly retreat for top executives, economists and politicians gets under way high in the Swiss Alps.”
Cindy and Cooper
I would consider the housing and commodity bubble years inflationary regardless of what the Govt. measures as inflation.
the only way inflation is coming now is if wage inflation is in the cards and I would argue we saw wage inflation in finance, mortgage broker,real estate agent …. jobs during bubble years and lets not forget the tech bubble. I think that article is off base and I side w? Mish here for the next couple of years anyway
I guess they want to start a ‘bidding war’.
#30 From Mish: “There is no money to pay back loans.” Bingo. There is no money, just debt and ever increasing defaults at every level. There is no money.
Cindy,
Unfortunately, I couldn’t get The Boss to perform personally for you. However, all of NJ wish you a very Happy B-Day. Many more to come;
http://www.youtube.com/watch?v=-I3EzquL04w&feature=related
to be fair though, “OLP” is really a meaningless number. Anyone can pull a fantasy number our of their a**. He could have listed at 6 mil, why not? Maybe 1 gagzillion! Moorestown used to be a nice old town but all the new development when the way of the Sopranos. Tacky.
to be fair though, “OLP” is really a meaningless number. Anyone can pull a fantasy number our of their a**. He could have listed at 6 mil, why not?
You are absolutely correct, but I’ll tell you that very few buyers realize this.
grim, its like putting .99 cents on the tail end of a price. Somehow not going that extra penny makes it a dollar less.
A little comment on all this deflation/inflation talk over the last few months. I am no financial expert and probably truly grasp about 35% of what is discussed here so keep that in mind when I comment:
I find something hopeful in all of this. A collapse of the global economy does not fill me with as much fear as maybe it should. I see the potential for local economies run by individuals and the kind of quality of life that that could bring, not just for us here but in the third world too. Less exploitation, more self determination. Room to breath?
I dunno.
breathe even
“to be fair though, “OLP” is really a meaningless number.”
I tend to agree, but it does sorta “set the tone” so to speak. If you see an outrageous OLP on a POS, chances are the seller is not so interested selling, but trying to lure in a sucker. First impressions do matter.
JBJB
True, I tend to ignore those listings because I know the seller is either looking to be bailed out or just isn;t serious about making a sale.
# 34 outofstater
“There is no money to pay back loans.” Bingo. There is no money, just debt and ever increasing defaults at every level. There is no money.
and there is no more credit to rob from Peter to pay Paul. I can’t believe the Govt. wants the banks to resume lending.
Individuals need employment, not credit. Businesses DO need credit, within reason.
When the property sold in 2004, they overpayed by 50%. Neighboring properties have never even sold close to that 2004 number. They ripped the guy off to begin with.
Obama will lower his principal for him.
rich, were there properties nearby that were comparable? My impression was that this was a one of a kind custom blowout. South Jersey doesn’t see a lot of Mansions, unless you are a Phila sports star are member of the Gambinos
are=or
For people who are trouble, Obama wants to lower there principal to reflect current property values. Guess who pays the bill, we do the taxpayers. You better have no money in the bank these days, they will give it to the beggars.
When the property sold in 2004, they overpayed by 50%.
Everyone overpaid when they purchased between 2004 and 2006.
The tax assessment on that property is $2,752,600, the nearest property in price on Cove (46 Cove to be exact) is assessed at almost a million less. A handful of other properties are assessed at about half. The two other properties on Landing (42 and 44) are closer at $1.75m and $2.11m but they haven’t traded hands since the mid 90s.
OK - so my story.
I have been renting from my landlord since July 2007. Two weeks ago her husband passed away. It was her second marriage. The house she currently lives in has been left to the children of the deceased. Our landlord needs to return to the house that I rent, but we have a lease in place until July 14th.
As many of you know, my wife is pregnant and due in mid-July.
We have been out there looking around casually, although in the course of the last two weeks we have seen 6 properties, 5 of which are completely empty.
My quick take on the market (probably echos to some extent what bairen-it-all observed in Westfield): we are in a transition in psychology; there are owners who now realize that they are simply not going to be able to sell their homes AT ALL. Nothing will happen, unless they are willing to throw up a price that is going to really be a bitter pill to swallow considering where the market topped out three years ago.
However, it gets worse.
A lot of people think they are going to wait out the market by renting out their places for an amount that covers their expenses.
They are wrong. They need to price the property so it will attract a renter.
I have already seen price cuts and every rental number appears negotiable. The only people I’ve seen who have thrown out a rental asking price that is aggressive have a sitting tenant. I think they don’t really understand the market, and will be shocked when their home just does not get rented and their current tenant leaves.
What is interesting to me is that given what I have learned recently from this exercise, I would have been compelled to approach my current landlord (again she is not offering a renewal) at the point of renewal and request a 15-20% rent cut.
This point is just January.
Those people who would know better than I would here, what do you suggest?
We have flexibility to rent until July, but tempered with the reality of the coming newborn…..
Since most of you folks don’t own property…and probably make $50K MAX each year…your tax burden matters……why?
Chi,
I have a baby coming in March so I know the stress and the need for The Nest. If there were no kids involved, I would look into extended stay hotels (they do negotiate price) while waiting for the market to drop more.
I would not wait until July, too stressful. Hit the pavement daily and negotiate hard now, I bet something will come through in your favor within a few weeks, then you have plenty of time to settle in.
#51 chifi,
Can you move out earlier? Is it possible to negotiate an agreement with the landlord to end the lease earlier and you can grab another rental?
So how much of a comp killer is Owen’s house for Vernon Hill’s, formerly of Commerce bank? same town. but TO is on the water, Vern sort of overlooks 295.
Also seeing rentals that are, dare I say it, NICE.
bairen says:
January 25, 2009 at 1:53 pm
#51 chifi,
Can you move out earlier? Is it possible to negotiate an agreement with the landlord to end the lease earlier and you can grab another rental?
bairen: our landlord will let us go ASAP…she feels bad enough about what is going on for us….in the grand scheme, we have this situation in perspective….we are somewhat inconvenienced…she lost her husband!
Barbara says:
January 25, 2009 at 1:52 pm
Chi,
I have a baby coming in March
B: hoo-boy….getting close….best of luck
http://www.weichert.com/search/realestate/PropertyListing.aspx?P=21419983&cityid=34058
I love the description of the pool. It sounds like a real vision.
And, what about this?? Community Amenities
• Laundry Facility
#51 chifi
Since your landlord says you can move anytime, is that in writing?
If you really can move, start looking for a new place. Moving is a pain, but I believe it is easier to move with a 5 woman who is 5 months pregnant then it is wit a 2 day old new born.
And I would rent.
“Why can’t you admit: Palin was clearly successful governor - with real leadership experience - and enjoying wide bipartisan support.”
Palin is a moron puppet that can’t even put together a sentence. The Couric interview didn’t make her look bad because the questions were so hard. It made her look bad because the questions were SO EASY yet she could not even give a simple bs answer. From the get go, she showed she had a very primitive understanding of the economy or the situation this country is in and the only reason her citizens like her is because she was the beneficiary of huge run ups in oil price. The Simpsons got it right even before anyone knew who she was. “Welcome to Alaska, here’s a thousand dollars”. Palin is incredibly ignorant and if the Republican Party ever wants to make a comeback, they might want to think about actually practicing the policies they’ve always preached. Palin is a symbol of everything that’s wrong with the Republican Party.
Chi
A rental trade-up? If moving weren’t such a pain I would do it in a second. We could probably get an extra BR and BA for the price we pay now.
Are you looking to stay in Middletown?
move before the baby is born!! I had to move from 1 rental to another w? 3 kids. not easy. as a matter of fact move before the baby shower! less stuff. and get out of middletown.
just kidding. it’s where I’m from
ChiFi, from our own experience (looking for housing just before baby born and moving when baby 5 weeks old) would highly recommend finding new rental place and moving NOW.
Almost 8 yrs later, we still find boxes that were never unpacked and have rooms that were organized by others who were helping us out during a stressful time. (Take it from me, you don’t want your 4′11″ mother in law to unpack and organize your kitchen; everything is just too darned low; and you’ll never take the time to re-organize the kitchen to accommodate your own height.)
In my opinion, making life altering decisions and moves in the midst of serious sleep deprivation is never a good thing.
58. ChiFi
thanks. I swore 3 years ago, not another kid until we move. Well here we still are. I own this big 2 family, live in a sizable 2 story apartment with a loft space which is the only bedroom.
I’m trying to stay sane but I haven’t seen anything worth buying since looking started in 2003. Hoping our luck changes maybe this summer.
[5] cindy
“Drink all the coffee you want”
that is good news. I need all the help I can get (though there are some on this board that think its too late for me.)
[51] chi
Consider that a newborn won’t care where he/she lives, and you needn’t consider towns and schools for about 5 years. We raised little nom in Philadelphia, and kids can make friends or find playplaces anywhere.
If you don’t want to uproot a child that has made friends (and our experience taught us that any trauma is fleeting), then consider relo’ing in a few years, in order to establish yourself and him/her in the town with the kids there. Personally, I don’t find it necessary.
There. This gives you the flex to rent for up to 5 years (and maybe longer). In our case, we bought because the house was right, timing was right, and we were in a short term rental that was too cramped. Also, I did not find a shortage of decent homes to rent at decent prices in Brigadoon, and there are some available now.
cindy and nom
What kind of coffee do you guys like?
I’ve recently gotten into Timothy’s German Chocolate Cake and also Pecan Pie.
to #200 (bairen) from yesterday’s thread
I drove by this house (21 Princeton Ave.) - for a $2,700 rental it’s simply unbelievable (and new at that). Plus, on a cul-de-sac and only 6 or 7 minutes walk to the train.
(35) BC - Thanks for the birthday greeting.
(69) Bairen - Coffee?
I’m pretty cheap. No gourmet here. I only go to establishments to buy coffee when someone gives me a gift card.
I grind beans when I have them - Kona, Sumatran, my daughter sent me Ugandan that she roasted and it’s very good.
But most mornings it’s plain old Yuban. At work it’s catch as catch can.
Cheap trick. Between pots, have a cup of Mxwl Hs or generic freeze dried/instant, if you can down it.
Your brewed normal brand will taste like a million on the next pot.
Company coming and can’t afford Gevalia? Mxwll Hs Columbian Supreme, with a teaspoon or two of cinnamon sprinkled over the grind before brew. Make it just a bit less strong, or just a bit more strong than you are used to. Who knew?
Cheers to tricking the taste buds.
By the way, I just read a book to my daughter about supertasters. Did you know that if your child is a picky eater they are possibly a supertaster? Put red food coloring on the front of his/her tongue. Put a lifesaver on that and count the tastebuds inside the hole. More than 10-15? (I think that was the number.) She’s a supertaster…so, broccoli tastes like nightmare to her. But never fret…skinny supertasters grow up healthier.
Good news about controlling childhood obesity. It’s easy to trick the tastebuds. There.
61, 64, 65, this!
i moved across the country with a 3 month old. do not recommend it to anyone, esp people i like. :}
find a nice rental with a yard and a decent school district (just in case you stay there a long time).
we didn’t expect to stay here for more than a year. 4 years later plus a baby, i am so grateful that we don’t *have* to move– good enough school, good enough location, big enough place that we can stay here another ten years if necessary. huge relief, esp as i watched my best friend buy a too small too expensive house because she was 8 months pregnant and just could not handle the tiny 4th floor walk-up apartment anymore.
cf, I just checked kw for rentals [all for sale and sorted by price low to hi] in mdltn and there were a slew of them. Get some help moving and go pick a winner.
Shore guy #7
“Experts argue that the government cannot fix the problem because it has still not understood the scale of it.”
It is like throwing a rock into the air and wanting to “stabilize” it at or near its high point.
Yes!
http://tinyurl.com/63a56q
Coffee:
My fellow blogers–life is too short to drink bad coffee. If you like good coffee, by a cheap coffee roaster (fresh roast eight plus–approximately $70-$80) and roast your own green beans. I estimated that it costs me just 7 cents a cup for the coffee. I buy green beans that cost on average between $5-$7 a pound.
Not trying to get into a pissing contest.
Now excuse me as I have to roast some beans and give my son a bath.
Dunkin Donuts whole beans, grind coarse at home, brew in my cheap french press. I get raves from the family.
Watch the Yen/Euro cross, the global thermometer for stocks;
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNemDfGHp048&refer=home
Barbara, 77
I am with you. Dunkin Donuts all the way.
Was given a Capresso coffee/espresso maker - fill with water, fill beans and it makes 1 0r 2 cups at a time.
It’s unbeatable.
sl
I like Pete’s. Reminds me of Cali.
BC Bob says:
January 25, 2009 at 7:56 pm
Watch the Yen/Euro cross, the global thermometer for stocks;
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNemDfGHp048&refer=home
must have read about this a dozen times since it is always talked about on here, and i never bothered to read too much about it … if the yen rises and the euro falls, that equals trouble fr the US?
why?
JBJB says:
January 25, 2009 at 2:43 pm
Chi A rental trade-up? If moving weren’t such a pain I would do it in a second. We could probably get an extra BR and BA for the price we pay now.
Are you looking to stay in Middletown?
JBJB: We are looking all over Eastern Monmouth County. In Middletown, we are currently located in Oak Hill, but we’ve seen stuff in Fairview, Navesink, Locust. Red Bank could be ok but I doubt it. Rumson OK, but there is a lot of split between psuedo-summer beach rentals and shacks that are both gross and overpriced. Holmdel seems devoid of opportunity. Fair Haven might be nice, but a lot of people are upside down and I am not interested in walking into someone’s implosion. We are seeing something in Colts Neck on Wednesday. We saw something in Little Silver two blocks from the Shrewsbury River.
Just FYI - we have to have a SFH so we can control the environment and the grounds. We have strong opinions about chemical, toxins and the like….
This one breaks my heart….you have to see it to understand how it is unbelievable, and further you are walking distance to horse farms, open fields, it’s sick…..but I consider it overpriced and you can just tell these people are screwed beyond belief……it’s is toxic…
link
http://www.realtor.com/realestateandhomes-detail/Middletown_NJ_07748_1105884232
Yikes,
The carry trade, [selling yen, buying side B] was the fuel for the bubble. Without the carry Greenspan’s bubble would not have been successful. Without the carry, securization would not have been as effective. It was one monster of a trade. Probably the most one sided trade in the history of the markets. It was the world’s foundation for credit and leverage.
As the carry unwinds, capital seeks safe havens. In this scenario leverage is non-existent, stock markets feel the brunt of the pain. Can you imagine the stock market requiring savings, not leverage, to fuel its run? Good Luck.
BC, 85
Remember, a lot of us have NO idea what this means…
It’s like me explaining Kreb cycle and phosphorylation of ADP to ATP and how that cycle is poisoned by 2,4 Dinitrophenol or cyanide.
Please [cuz I want to understand this too and it's failing me...] can you dumb it down to my [albeit pathetic] level?
Thank you
sl
84. Chi
Charming property. Looks like it has a lot of potential for a buy too. Wonder if the sellers would be willing to do a rent-to-own senario
Chi
Crazy small world. I was actually going to recommend that place on Cooper. We looked at it when it first came on the market. It’s right across from the elementary school where we vote. I’ve heard very good things about Fairview elementary as well.We rent a place not too far away on Kings Highway E.
I see it’s now listed at 549K, when we went in, it was 599K. Yea, its going to be tough to find a renter for $2700.
Best of luck in your search it seems we are on a similar wavelength, but we are focused on Oak Hill/Chapel Hill since the wifey goes to the city and we really love our daycare provider. Let me know if you see something interesting.
Chifi,
When you check out Colts Neck, make sure to stop at Delicious Orchards. Awesome pies and donuts. Oh, the fruit is good too.
Can someone with GSMLS access please give me the SP for 319 Maolis in GR? Many thanks.
“Delicious Orchards.”
As kids, the apple-cider doughnuts were our biggest treat. They also had on of those indoor glass hives where one could watch the bees working. I remember when the place would fit in the first floor of our house. It has grown a bit since then.
#91 Shore Guy,
I was in there last week for the first time in 6 or 7 years. It’s much bigger then it was back in the 70’s. Still good eats though. It’s actually one of the things I miss most about monmouth county.
Love Delicious Orchards, but am even fonder of Jersey Freeze. Lil Gator loves it now too.
Sickles Market in Little Silver is also good (but perhaps not as good as Delicious Orchards).
Pay off debt or hang onto cash?
I just got my annual bonus which is giving me the option to either pay off almost all my debt but I’m not sure if I should or not in this kind of economic climate. I have one CC with an outstanding balance of $12k (3.49% fixed APR until paid off) and a student loan balance of $2500 (4.7% interest rate).
I can easily pay off all the debt but with the gov’t throwing money at everything these days, would I miss out on my bailout money by being responsible and paying off my debt. My heart tells me to just pay it all off but my head’s telling me to hold onto the cash.
bairen,
Heck, by the 70s it had grown fra larger than when I had started going there (back in the days when we walked to school in 3′ of snow (uphill both ways) even for summer school).
W8
Maybe split the difference. Pay off a bunch and put the rest into CDs at a bank you do not currently use. If worse comes to worse you then have some cash on hand. Of course, if worse does turn into worst, if it were I, I would not want to have ANY debt.
Delicious Orchards was a required stop on our Summer return from Bradley Beach or Deal. Yes, those cider donuts rocked (liked cinnamon much better than powdered, which would always make me cough), and they would give you one for free. Remember that?
TV update: Found a fantastic deal for a midrange Samsung SALN32A450 LN32A450 720p 32″ High-Definition LCD TV. $569 shipped free from B&H and no tax since I ordered it online. 1080P would have cost at least $850 and not really worth it on a sub 40″ set.
ChiFi: If you have an out on your current lease, do it ASAP. Speaking from experience, your wife will need your assistance exponentially more often towards the final two months of her pregnancy. Once the egg hatches, you will realize that the need for more space is nill until the chickadee goes mobile at around a year. Obviously, rent again and negotiate like one of Madoff’s lawyers.
G’night ya’all and happy Chinese New Year to the masters of our destiny.
W8: 95
At least pay off the student loan debt. The credit card debt can be reduced through bankruptcy if it comes to that but student loan debt will follow you for the rest of your life.
It is always good to have a few months expenses in cash as savings if something unexpected happens. Once you have some savings and the student load paid off then I would worry about the Credit Card debt. At 3.5% its not like the interest is killing you.
Stu, 98
so true~ it’s not the baby that takes up the space — it’s the stroller, changing table, stuff stuff and more stuff.
sl
Expert?
There is no expert in this market! You only see winner or loser.