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Shermer Theater (Boxes are Everywhere...Theater in Thinking Step) - Page 11

post #301 of 422
It's coming along. You will be in before you know it.

Where is your rear property line relative to the trees? I ask because I know they still need to bring in fill to raise the grade back there and if that happens over the root zone of the trees, you will most likely lose the trees. It looks like there is already some compaction on both sides of the trees due to construction traffic, so the trees are probably already stressed. If possible, have them keep all construction activity outside of the dripline (the imaginary line extending from the edge of the tree canopy to the ground).
Edited by Spaceman - 9/10/13 at 8:18am
post #302 of 422
Thread Starter 
Quote:
Originally Posted by J_P_A View Post

It's amazing how fast the framing happens! Our builder warned us that there would be lots of progress initially that's easy to see. The framing, that is, but once the work moves inside it will feel like everything is crawling!

Glad you guys are excited! Just keep that in mind as everything is moving forward. Building a house really should be fun.

Keep the photos coming!

I actually wouldn't mind it if I didn't feel compelled to drive by the house EVERY single night smile.gif
post #303 of 422
I spent the first day on-site... Two SLR-cameras and one VHS videocamera. biggrin.gif
post #304 of 422
Thread Starter 
Quote:
Originally Posted by Nightlord View Post

I spent the first day on-site... Two SLR-cameras and one VHS videocamera. biggrin.gif

they have a clause in their contract which says that if they don't like what you're doing they have the legal right to give you your money back and say "go away". They are more or less saying "hey don't do that" smile.gif
post #305 of 422
Quote:
Originally Posted by JRock3x8 View Post

they have a clause in their contract which says that if they don't like what you're doing they have the legal right to give you your money back and say "go away". They are more or less saying "hey don't do that" smile.gif

HOLY TOLEDO!!!!!!!!!!! eek.gif

I'd run as far away from that builder as I could!

Spent every hour I could pointing out inferior workmanship during my build.........not to mention mistakes, missed building specs etc. If I didn't do that, my home would have been a piece of poo! Homes are NOT build to the same quality standards like 30 years ago............

Well............ need at least 3 significant digits to count the all the issues and problems I ran into in an eight month building period.................but of course I am "anal retentive". biggrin.gif

Can't imagine if I had no say in the building process! eek.gif
post #306 of 422
Thread Starter 
Quote:
Originally Posted by doublewing11 View Post

HOLY TOLEDO!!!!!!!!!!! eek.gif

I'd run as far away from that builder as I could!

Spent every hour I could pointing out inferior workmanship during my build.........not to mention mistakes, missed building specs etc. If I didn't do that, my home would have been a piece of poo! Homes are NOT build to the same quality standards like 30 years ago............

Well............ need at least 3 significant digits to count the all the issues and problems I ran into in an eight month building period.................but of course I am "anal retentive". biggrin.gif

Can't imagine if I had no say in the building process! eek.gif

if you only had one possible shot at your dream house and this was it... I took the risk.

They cited exactly that scenario you describe as an example of one where they would break the contract.

On the flipside they have an A+ rating from our local business bureau...


anyways, back to more positive thoughts, the house looks great and we're super excited about it.
post #307 of 422
Quote:
Originally Posted by JRock3x8 View Post

.
the house looks great and we're super excited about it.

Well........that's the only thing that matters..........
post #308 of 422
Quote:
Originally Posted by doublewing11 View Post

HOLY TOLEDO!!!!!!!!!!! eek.gif

I'd run as far away from that builder as I could!

Spent every hour I could pointing out inferior workmanship during my build.........not to mention mistakes, missed building specs etc. If I didn't do that, my home would have been a piece of poo! Homes are NOT build to the same quality standards like 30 years ago............

Well............ need at least 3 significant digits to count the all the issues and problems I ran into in an eight month building period.................but of course I am "anal retentive". biggrin.gif

Can't imagine if I had no say in the building process! eek.gif

Sounds like you went custom if it took 8 months to build your home. Whole different ball game there. I too would be all over them if I had issues with the work being performed. Your paying for a higher level of product and service. In rocks case (and mine as I went a similar route) they have a process and it's this process that allows them to keep costs down and provide families with more house for the money. I'm sure we would all go custom if we could but it just isn't in the cards for most. In my case I struck up a relationship with the foreman who oversaw all the homes being constructed in several neighborhoods on my side of town. He kept me in the loop on what items were going to be done when and was very good at answering any questions I had throughout the build. Letting me know when drywall was starting so that I could get in there and take pictures of everything behind the walls was especially important. He was also very receptive to comments or concerns I had along the way. Now I couldn't really make any changes to anything but we were both generally on the same page if a portion of the work wasn't up to par. I had a very pleasurable building experience and I hope the same for you rock. It can be a very stressful time but working with good people can make all the difference.
post #309 of 422
Thread Starter 
Quote:
Originally Posted by vanice View Post

Sounds like you went custom if it took 8 months to build your home. Whole different ball game there...

we looked at custom fairly extensively and even went halfway "to the altar" with one builder but ultimately he wasn't ready with a lot that worked for us and he was so wide open on what we could pick for floors and all kinds of other choices that we could never get comfortable with him that we were going to get what we wanted for a price that was going to work for us.

The custom build was going to be about 10% more expensive than the spec builder but we were also going to get a much nicer house.

But the uncertainty around the choices and the fact that interest rates are really starting to get to a point where we would NEVER be able to afford this kind of house.... we just decided the spec route was the only way that worked for us.

back to the interest rates for a minute, I wouldn't be surprised at all if we are north of 6% this time next year - we're at 4.5% now.
post #310 of 422
Thread Starter 
hey I wanted to get your guys opinion on something else as long as we are talking about real estate transactions...

we have an existing house that we're trying to sell - I could probably cut the price by $10,000 and sell it this year or I could dump my realtor (who I honestly feel has been an absolute waste), rent it for 6-18 months and then sell it without him when the market recovers and keep a whole lot more money.
post #311 of 422
Quote:
Originally Posted by JRock3x8 View Post

we looked at custom fairly extensively and even went halfway "to the altar" with one builder but ultimately he wasn't ready with a lot that worked for us and he was so wide open on what we could pick for floors and all kinds of other choices that we could never get comfortable with him that we were going to get what we wanted for a price that was going to work for us.

The custom build was going to be about 10% more expensive than the spec builder but we were also going to get a much nicer house.

But the uncertainty around the choices and the fact that interest rates are really starting to get to a point where we would NEVER be able to afford this kind of house.... we just decided the spec route was the only way that worked for us.

back to the interest rates for a minute, I wouldn't be surprised at all if we are north of 6% this time next year - we're at 4.5% now.

I too looked at going the custom/semi-custom route. Spent a couple of weeks talking to a builder who we really liked but just never could get to the price point we wanted. He was even going to let me do some of the work myself to help cut costs. Then we found the builder we ultimately went with. We ended up with more house, a larger lot then we could have gotten through the custom builder, saved about $30-40k, and got a house that we are very happy with.
post #312 of 422
I get the feeling this varies significantly by area. Where we live the market didn't seem to be affected by the housing crash. After looking for a house for months, we finally came to the conclusion that we could build for what it would cost us to buy an existing home and do the renovations. We ended up with a custom home on a larger lot for what we would have paid for an existing home. We probably could have found a cheaper builder, but I looked at houses the "other" guys were building, and I was not satisfied with the quality.

That said, if Rock's builder is doing everything right, this sounds like a great way to build a house. If you can find a plan that you truly like, and the builder is good at building that house, it should be a great way for both the builder and the owner to save money. They should be able to build it quicker, and with less waste than someone building a one-off custom home. Just my $0.02.

Rock just needs to enjoy the ride! Have as much fun as you can afford smile.gif
post #313 of 422
Thread Starter 
Quote:
Originally Posted by J_P_A View Post

Rock just needs to enjoy the ride! Have as much fun as you can afford smile.gif

I drew a hard line in the sand at a certain dollar figure then started pulling things out left and right to get under that number and get as cheap as possible. Then I finally realized I would have buyers remorse for the next 20 years if I didnt put in the things we had talked about so much for our dream house. We didn't get it all but we did get a lot of it.
post #314 of 422
Quote:
Originally Posted by JRock3x8 View Post

hey I wanted to get your guys opinion on something else as long as we are talking about real estate transactions...

we have an existing house that we're trying to sell - I could probably cut the price by $10,000 and sell it this year or I could dump my realtor (who I honestly feel has been an absolute waste), rent it for 6-18 months and then sell it without him when the market recovers and keep a whole lot more money.

Why not rent out home long term? If you can rent previous home at a level were you can cover property taxes/ insurance and make payment...........in the long run you might be better off. If you can not financially handle a short/long term vacancy...........makes sense to liquidate to become more solvent.
post #315 of 422
Quote:
Originally Posted by J_P_A View Post

I get the feeling this varies significantly by area. Where we live the market didn't seem to be affected by the housing crash. After looking for a house for months, we finally came to the conclusion that we could build for what it would cost us to buy an existing home and do the renovations. We ended up with a custom home on a larger lot for what we would have paid for an existing home. We probably could have found a cheaper builder, but I looked at houses the "other" guys were building, and I was not satisfied with the quality.

That said, if Rock's builder is doing everything right, this sounds like a great way to build a house. If you can find a plan that you truly like, and the builder is good at building that house, it should be a great way for both the builder and the owner to save money. They should be able to build it quicker, and with less waste than someone building a one-off custom home. Just my $0.02.

Rock just needs to enjoy the ride! Have as much fun as you can afford smile.gif

Boy you are lucky!! In my area, homes prices took as much as a 30-40% nose dive! I had my previous home on the market for 2.5 years and took a huge loss on market value based on 2006 numbers...............................yet, like you...........I figured taking a loss on the home was doable because of at the time building costs. Well.........those building costs significantly elevated six months ago due to amongst other things lumber prices!

Timing is everything..........................
post #316 of 422
Yeah, we got hosed in the deal, too. Sold one house in an area with depressed values, and moved to an area that apparently was unaffected. Sort of like losing money on both sides.
post #317 of 422
Quote:
Originally Posted by J_P_A View Post

Yeah, we got hosed in the deal, too. Sold one house in an area with depressed values, and moved to an area that apparently was unaffected. Sort of like losing money on both sides.

Yeah, been there done that! If you want to know about depreciation, I own a four-plex in Newport Beach, California..........think Walmart......half off!! eek.gif
post #318 of 422
Thread Starter 
Quote:
Originally Posted by doublewing11 View Post

Why not rent out home long term? If you can rent previous home at a level were you can cover property taxes/ insurance and make payment...........in the long run you might be better off. If you can not financially handle a short/long term vacancy...........makes sense to liquidate to become more solvent.

handle is sort of a relative thing. I can make space in our budget to pay for the empty house but I'd obviously rather not (not the least of which because it will be very painful).

It doesn't seem we will have any problem finding renters - we had at least a dozen queries this summer form people who wanted to rent it.

I have no desire to be a landlord in the long term. I just don't have the time to do it. I commute about 3 hours a day and I work 8-10 hours a day. That just doesn't leave me a lot of time to do things I enjoy and being a landlord is certainly not on that list.

But I also don't want to give the house away and I DON'T WANT to give Coldwell Banker 6% for doing I-don't-know-what.
post #319 of 422
Thread Starter 
well I have tons of new pictures but none of them show a lot of progress smile.gif

this week was mostly interior stuff, plumbing and stuff.

next week will be electrical and then we have our framing inspection on Friday where I get to make sure they put my LAN ports in the right spot. Unfortunately it doesn't really matter WHERE they put the LAN ports because I won't have internet to start off with. Comcast and AT&T - you suck. smile.gif

I think siding also may go up next week - if it does, I'll be sure to have more photos. For right now, the house from the outside doesn't look a whole lot different.

huge side note - I locked in a mortgage rate this week - boy does THAT feel good to get out of the way before the Fed meeting next week.
post #320 of 422
May one be curious about what interest rates and how much mortgage you're asked for 'over there'?
post #321 of 422
Thread Starter 
Quote:
Originally Posted by Nightlord View Post

May one be curious about what interest rates and how much mortgage you're asked for 'over there'?

I wasn't going to offer but since you asked - 4.5% and no points.

I think I got lucky - prevailing rates are 4.625 and rising... especially for my situation where I am not bringing 20%....
post #322 of 422
Wow rates are going up! I bought my house last November and I got 3.375%. Dropped down 5% for the down payment. It is definitely turning more into a sellers market here shortly.
post #323 of 422
I have two long term loans running (8-10 years locked) and the lowest one is at 4.55, so that's ok in my book. On the flipside, at least here house costs have doubled since 2000 or more, I probably couldn't afford a new house today, at least if I were to do any mortgages on it and just paying interest like unfortunately a lot of people are doing here seems very dangerous for the future, not like in our parents' days when a few years of bad inflation would get the loans down to managable costs....

The interesting part was whether you had higher or lower interests, and here you'd get a loan locked for ten years at about that cost. Moving interest (3month basis) is at below 3% here. I think that's a marker for that the US economy isn't doing that well still.
Edited by Nightlord - 9/14/13 at 7:44am
post #324 of 422
Yea it is a little different here. My loan is for 30 years and it is a fixed rate. I remember 5 to 10 years ago, 7.0% was really good. I think I read somewhere that back in the 80's the rates were 18%! eek.gif
post #325 of 422
Thread Starter 
I refinanced at 3.75 back in Feb - saved myself $200 a month which in a very small way helped free up cash for this house.

these are once in a lifetime interest rates and if they were anywhere near "normal" we wouldn't even be looking at this house.
post #326 of 422
Quote:
Originally Posted by Pain Infliction View Post

Yea it is a little different here. My loan is for 30 years and it is a fixed rate. I remember 5 to 10 years ago, 7.0% was really good. I think I read somewhere that back in the 80's the rates were 18%! eek.gif

Early 1980, inflation rate was close to 12%.................yeah, rates were that high! But came down several years later after Carter' hiatus! Thank God for Ronald Regan!!!!! wink.gif
post #327 of 422
When we bought, rates were 21 percent. We ended up buying a house that was lived in for four months, and it came with an excellent 14.75 percent mortgage
with 32 months left. The lowest mortgage rate we ever had, was 11.5%.

I just hope we don't see a repeat of what happened when we were buying. A lot of people simply handed in their house keys to the bank, when their mortgage
came up for renewal. They simply couldn't afford mortgage payments that had doubled.
post #328 of 422
21%??? Our 1st home in 2003 was about 5, 0ur 2nd one in 2010 was 4.6. When we decided to build this year rates were 3.2 now as we are getting closer to close we are at 4.5. if the feds stopped opening their mouths we might have had 3.2 still. The banks approved loans without considering if it was truly affordable for a buyer...back in 2005 so many buyers jumped in arms, interest only and so many other crazy things that got them what they wanted now without thinking about the future outcomes.
Edited by iamjason - 9/15/13 at 8:12am
post #329 of 422
He is in Canada. They might have a different market.
post #330 of 422
Thats true...

We had a community built in my area that had jacked the prices up it was insane people fought to grab these poorly built, featureless homes...not sure way as they really were bad homes. Now i think the community is 90% empty and the were filled witb squatters, gangs, homeless and druggies....the backs.cant get rid of them or the homes....it should be leveled.
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