Are you a landowner? How is it working out?

[Wcross]

Poll question: Are you a landowner? How is it working out?

Just curious if you rent or own (AKA owe on a mortgage)? I own (but still owe on the mortgage) personally. To further expand the poll I ask if you are happy with your situation. I will also try to find out if people are struggling with their monthly obligations related to their housing expenses.

[bbinacan]

1. Owe, can afford, happy n/t

[wuushew]

2. There are other possibilities

living with mom & dad and or homelessness :(

[Wcross]

10. I did ask about ownership.

I only had nine questions to work with. Chances are if you saw the poll you had some sort of Internet connection. I didn't consider asking homeless people how bad it is in their situation. It is as bad as it can be to be homeless.
As far as living with Mom & Dad, I will refrain from asking your opinion on how bad housing costs are until you have actually had to pay them.

[jody]

3. Landowner covers more than just homes, e.g. farms, ranches, businesses. n/t

[notadmblnd]

4. The potting soil you bought at the store.

:shrug:

[jody]

5. A bag of soil is not land. n/t

[Wcross]

17. Uh, that is dirt. You need a title to claim ownership. n/t

[notadmblnd]

36. I was being factitious

no smiley for that, hence the shrug.

[Wcross]

6. Most farmers "own" their homes as do ranchers.

I only had nine options and couldn't waste a spot on if you live on Krypton in a rental but own a ranch in Texas here on earth. I tried my best to be inclusive.

[jody]

9. Understand, perhaps the subject could have been "homeowner". n/t

[Wcross]

11. Didn't the founding fathers refer to it as "landowner"?

Do those that rent an apartment call it "home"? I always did. As a matter of fact when you pay your rent you do "own" the land beneath your feet even if it is only for another month.

I hate to get into a technical argument with this poll. Just trying to find out if people are happy with their current living conditions.

[Manifestor_of_Light]

34. Owners were formerly called "landed gentry".

Renters are not technically property owners.
You've leased your property which is a contract with a fixed period of time. You don't have a deed of trust and a mortgage, or a Warranty Deed if you own it free and clear of all liens.

Yes I am a lawyer but I don't play one on TV.

[Rockholm]

37. Do you whining buttcracks have anything better to do?

Good effing god. The OP asked a very clear and simple question with a nice poll. And then what happens? The peanut gallery of assholes creeps out from under their collective rock and start with this shit. This is a big problem and people like you (and you know who you are) just need to knock it off.
Simple question. Simple answer. Live with it.
"What about homeless people?" Give it a rest. Sheesh.

Wcross, thank you for your question and continued calm and reasoned follow-ups to the morans at large.

[Rockholm]

39. Own. Have mortgage. Payments fine.

Bought and sold, trading up every time and now am in my dream house. Never have to move again!
Just so you know.

[Captain Angry]

7. I USED to own (mortgage)...

But I sold my house when my job headed for India without me.

So, I checked the content renter box.

[supernova]

8. Own my home and property

free and clear. I just pay the insurance and the taxes every year.

It is a great help that I own the house. But I can't afford to make some needed repairs right now.

I own the property it sits on plus some vacant land that can be used or sold in the future. I have to remind myself how lucky I am sometimes.

[Wcross]

12. You are lucky and/or did the right thing when you bought.

Don't kid yourself, you weren't lucky at all. You planned it all along. Smart? Yes. Lucky? What did you earn on your last trip to Vegas?

[supernova]

24. LOL! I inherited my house

so it's largely thanks to my parents that I am in this situation. It's not a fancy nor a large house by any means, but it is well-built and safe.

I hope during my lifetime to be able to improve upon it and make it more valuable over time. :-)

[Wcross]

25. You planned to outlive your parents. Don't sell yourself short!

Ok, you got me. But still, you didn't dive into the pool at the deep end with no way to swim.

[fed-up]

13. own my toxic hellhole former meth lab free and clear-what is the value of a hazmat site?nt

[Wcross]

19. Maybe you could find a sucker...........

Maybe you could sell it to the next guy?

[Wcross]

14. I am very impressed with the paid off homes here!

Twenty Nine percent so far! I am hoping to join your esteemed ranks some day soon. It really upsets me to owe on my home.

[fed-up]

15. saved down payment for my 1st house 20 years ago by sleeping in a closet on a sleeping bag nt

[AlCzervik]

16. almost clear but never free, we bought when here was still affordable and

we never took out any equity and we got a plain old 15 year mortgage. We have been very lucky.

[Xenotime]

18. My ARM is about ready to adjust and I don't know if I can keep my house.

[Wcross]

22. No way to refinance?

I hate to hear that Xenotime, I hope things work out for you. If not I hope you transition into something affordable soon. A home shouldn't suck the life out of you, it should be your greatest joy.

[riderinthestorm]

20. I am a farmer/landowner

I can afford it now but I am always seeking ways to make it more profitable since it is my livelihood. We currently run a horse breeding/boarding/training operation and an organic market garden on the place. I need to diversify more but am having trouble deciding on which way to go. I also rent the farmhouse but due to many considerations, we are remodelling said farmhouse and moving there as soon as the repairs/remodelling are done (spring 2008?)

The current market is problematic for us since we deal in "luxury items" for many people - horses and organic produce - and many folks are tightening their belts and that impacts me. For the first time in two decades I have empty stalls - that is amazing! I can deal with it, and have the resources (now) to ride it out but it is wierd. The organic produce is done for the moment as I have sold everything that we have produced and I am in the process of prepping the land for next spring's planting already....

My mortgage is huge (!!11!) by most people's standards (but small by farming standards) but I am not overly worried as I am uniquely situated to capitalize on our location if economic (or environmental or personal) conditions force us to sell.

[Wcross]

23. Got wood(s)? Ever consider ginseng?

I am going to be planting some in my woods next year. It is a seven year payoff but they produce after that. Great for a woodlot. I was looking at a couple of neighbors chicken barns, he wanted 12 times yearly earnings for the place! No way am I going to pay that for a marginal job! Farming is going to be 100% corporate before too long.

[supernova]

26. Is ginseng a valuable crop?

[Wcross]

27. For something that thrives in the woods? Extremely valuable.

http://www.ext.vt.edu/pubs/forestry/354-312/354-312.html

[riderinthestorm]

28. Ginseng? That's interesting. Yes I do have woodlots

Thanks for the tip!

[Wcross]

29. What else are you gonna do with the woodlot?

I hope your roots grow large & valuable!

[Warpy]

21. I bought a shabby little fixer in a bad 'hood 11 years ago

and I've been doing a lot of work on it, getting ready to have all the fun cosmetic stuff done. I paid it off when I inherited, first thing I did when my dad's house in Florida sold.

I'm also looking into getting a place in Mexico, living both places.

[Kazak]

30. B.5?

Owe, can afford, happy with some aspects, not so much with others.

:shrug:

[Wcross]

31. You gonna have to take that up with the mods.....

I only had nine slots for the questions....:argh:

[Blue_In_AK]

32. I bought my duplex in 1990

at the end of a real estate crash here for a very reasonable sum of money. I still owe because I've refinanced, but I'm very happy with my situation because my tenants pay 3/4 of my mortgage. They're happy because I'm renting to them below market. It works out for everyone.

[Lilith Velkor]

33. Homeless

It blows dead goats.

[Raine]

35. Own it free and clear...

thank goodness but not real happy with it cause it's on a busy street.

[Bettie]

38. We owe on it, but we're getting close

We've got less than 8 years left on our mortgage, so we'll own free and clear before our kids are in high school (they are in Kindergarten and First Grade now).

I'm so glad that we went with the 15 year mortgage than the 30 year people were trying to talk us into.

Of course, we also live in an old house in a small and boring town in Iowa, which keeps the cost of housing down!

Bettie

[mainegreen]

40. I rent, want to own and am desperately waiting for the housing market to 'crash'

IE return to levels that aren't completely bat shit insane.
I have no interest in spending 40% of our yearly income on a mortgage.

[Virginia Dare]

41. You're pup is sweet, looks a lot like one of mine!...n/t

[Wcross]

42. That's my boy "Larry", he really is a sweet heart.

Thats what happens when an American Eskimo hooks up with a beagle mix.

[tammywammy]

43. I owe on my home

But I'm very happy with it. I purchased a house over the summer well below the appraised value since it was a foreclosure. I have a low payment $702/month and am very happy. Plus, the utilities are drastically cheaper in the house than my last apartment, and the house is bigger.

I have no debt other than the mortgage and my car, so I'm doing quite peachy right now.

[Wcross]

44. That's a great way to buy!

Pretty smart move to buy like that. I recommend installing ceiling fans if not already installed. They can REALLY help in reducing heating/cooling costs.

[tammywammy]

47. Yep, ceiling fans are in

They're in both bedrooms, the living room and the kitchen. :)

I was lucky to find this house. It was on the market for over 6 months and it was a foreclosure so the bank had gone way down on the price.

I'm only 27 and made a whopping $25,000 last year, so I'm very happy that I was lucky enough to become a homeowner.

[Wcross]

48. Sounds like you did GREAT with that buy!

I wish you many happy years in your home.

[tammywammy]

51. Thanks!

I think my parents are the most happy, they both "think" that I'm grown up now. :evilgrin:

[Mike03]

45. Own outright, but my timing was very lucky

I bought my first home in early 2002, right at the beginning of the Bush nightmare and housing inflation bubble.

[CountAllVotes]

49. same here

I bought in 2000. The house has tripled in value.

I have no intention of moving or going anywhere.

The house is paid off.

It did not cost much and was trashed badly. In fact, the seller had to dump $25,000.00 into it to make it inhabitable.

Needless to say, it did not cost much.

I just wish the real estate people would stay away.

It is far better than renting, that is for sure (did that for 20+ years).

[Mike03]

50. I'm with you, especially about having "no intention of moving."

That is exactly my point of view as well. I would be content to spend the rest of my life right here, come what may, unless something extraordinarily unexpected happens. I'm very content with what I have and I just want that, not anything more.

[CountAllVotes]

52. yes you are right

albeit the house is small. It is also highly energy efficient. The bills are low. I just got the property taxes for the year and they are less than $100 a month.

I'd be a fool to move.

And the banks and real estate agents cannot stand it.

They figured I'd sell when the price went up and I was advised to do so in fact. I have not done this. Where else can I live for $100 a month (well maybe $250 including power, water and homeowners insurance)? Answer: Nowhere and I know it.

I've made some improvements to the house, like a new roof and a kitchen remodeling job (which was desperately needed).

It is ok. I can stay here no matter how bad it gets is the way I see it.

[Liberal_in_LA]

55. "make it inhabitable". :-)

[ileus]

46. except for the crazy high property taxes I'm happy with it...

[Trillo]

53. Owe money, can't really afford, but am happy with it.

"I owe money on my home. I can't afford it but I love it."

Bought our first home at a low in SoCal in 1998, $105K, fixed. First home, we were an average age of 40 when we finally were able to buy, so when 30 years of the mortgage payments are over, we'll be 70 (myself, I hope to die before then, never wanted to live to an old age, even when young). Never took a second mortgage. Am better off financially versus renting, equivalent housing rents around here are still nearly double, plus we have more room, a garage, etc., and nobody with a shared wall for when we fight (seldom, but often verbally loud). Currently, housing is over 50% of our total budget. I reckon we are poor. :)

I'm quite certain we're better off than younger folks. My advice: Typically, it's a good time to buy when prices decline, the best time is the bottom, but that's hard to pick. If you can, buy when you first start your working lives, and if you can't afford it then like us, move to some other locale where the wages/housing cost ratio allow you to buy. And never ever believe in the mythical landlord who never raised rents for continuous renters, or the tooth fairy.

We're not that happy with the real estate bubble in SoCal, it started in our area before we began our working lives, and was a prime reason we had to delay a home purchase to later in our lives. Neither of us wants to move ever again.

[mondo joe]

54. Owe money on my very small house but love it - especially since I lucked into

a deal and wouldn't have been able to buy otherwise - at least not for a few more years.

[Manifestor_of_Light]

56. Own home free and clear.

Am moving out of town and selling it due to unemployment and high property taxes, especially for the school district which are more than the city and county property taxes combined. Can't afford it.

Am moving to the country to house I inherited which is old (square nails) and needs some work (saggy floors) but is definitely livable and has much cheaper electricity (due to high ceilings and large attic which form air cushion of insulation). It's much more energy efficient.

I'm calling it early retirement. I've been driven out of the rat race, so I won't be a rat anymore.


However, I'm afraid I'll be really missing all the concerts and events in the big city.

The only kind of music they like out in the country is gospel and shitkick, neither of which I can stand. And the only social life in town is in church, the organ club or the garden club. I have no interest in those, although I enjoy gardening and playing the piano.

I may have to come back on weekends and check out the culture.

[B Calm]

57. We been debt free for years. We concentrated hard on paying

off the house early. We did without a lot of things that others wouldn't. But in the long run, we won!

[Mugu]

58. When I decided to buy a house

I wanted something that was inexpensive and out of town. I ended up buying a piece of property with woods, pond, orchard, and an old farm house. Now town has moved out to me and boy have my property values climbed. There are plenty of big houses on small lots, but very few large lots (10 acres or more) available.