Home Purchase Negotiation Thread (1 Viewer)

[Otis]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

 

[cstu]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

 

[jon_mx]

Update?

Went back with our counter this afternoon which I explained was really the best we can do (absent waiting a few months). Agent said she didn't think it was going to cut it, but that she understood that it is all we can really afford to do at this point. Given that we didn't hear quickly, it could be that they are considering it, who knows.

They will accept unless they are upside down which is possible if they got a second mortgage. I am thinking you will have an accepted offer by tomorrow evening.

 

[Otis]

Update?

Went back with our counter this afternoon which I explained was really the best we can do (absent waiting a few months). Agent said she didn't think it was going to cut it, but that she understood that it is all we can really afford to do at this point. Given that we didn't hear quickly, it could be that they are considering it, who knows.

They will accept unless they are upside down which is possible if they got a second mortgage. I am thinking you will have an accepted offer by tomorrow evening.

 

[ArcticEdge]

What is the mirror situation at this house?

 

[Otis]

What is the mirror situation at this house?

Upgradeable.

 

[Rohn Jambo]

Update?

Went back with our counter this afternoon which I explained was really the best we can do (absent waiting a few months). Agent said she didn't think it was going to cut it, but that she understood that it is all we can really afford to do at this point. Given that we didn't hear quickly, it could be that they are considering it, who knows.

They will accept unless they are upside down which is possible if they got a second mortgage. I am thinking you will have an accepted offer by tomorrow evening.

Otis' offer was more than the seller's original purchase price. Did he spend significant money on upgrades in the last 8 years?

 

[cstu]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Because interest rates are going up, now could be the worst time to buy a house if you think there's any chance you may want to move in the future. If this house is your dream home and you plan to live there for decades then it's not a big deal. The bottom line is that you should be in no hurry since prices aren't going up any time soon.

 

[Rohn Jambo]

What is the mirror situation at this house?

Upgradeable.

What does this mean? Does the house have mirrors?

 

[Otis]

Update?

Went back with our counter this afternoon which I explained was really the best we can do (absent waiting a few months). Agent said she didn't think it was going to cut it, but that she understood that it is all we can really afford to do at this point. Given that we didn't hear quickly, it could be that they are considering it, who knows.

They will accept unless they are upside down which is possible if they got a second mortgage. I am thinking you will have an accepted offer by tomorrow evening.

Otis' offer was more than the seller's original purchase price. Did he spend significant money on upgrades in the last 8 years?

The house is in good shape, but I don't know if he did anything to upgrade, since I don't know what it looked like before.

 

[Rohn Jambo]

Update?

Went back with our counter this afternoon which I explained was really the best we can do (absent waiting a few months). Agent said she didn't think it was going to cut it, but that she understood that it is all we can really afford to do at this point. Given that we didn't hear quickly, it could be that they are considering it, who knows.

They will accept unless they are upside down which is possible if they got a second mortgage. I am thinking you will have an accepted offer by tomorrow evening.

Otis' offer was more than the seller's original purchase price. Did he spend significant money on upgrades in the last 8 years?

The house is in good shape, but I don't know if he did anything to upgrade, since I don't know what it looked like before.

Fair offer relative to the comps anyway.

 

[Otis]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Because interest rates are going up, now could be the worst time to buy a house if you think there's any chance you may want to move in the future. If this house is your dream home and you plan to live there for decades then it's not a big deal. The bottom line is that you should be in no hurry since prices aren't going up any time soon.

The idea is that this is a house we plan to be in for the long haul. We purposely found one that is comfortable to live in now but which has enough property in the lot that an extension can be built on. Including finishing the attic, this house could be made into a 5 BR home easily. I'd also like to one day finish the basement to be half playroom for the kids/half playroom for the O (full bar, leather sofas, several big screens, etc).But yes, absent the unforeseen or a significant change in plans, we would expect to stay for many years.

 

[Otis]

Fair offer relative to the comps anyway.

That's how it seemed to me. I'm no expert, but by a lot of different measures, it seems like a fair offer and a good deal for everyone involved under the circumstances.

 

[Rohn Jambo]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Because interest rates are going up, now could be the worst time to buy a house if you think there's any chance you may want to move in the future. If this house is your dream home and you plan to live there for decades then it's not a big deal. The bottom line is that you should be in no hurry since prices aren't going up any time soon.

The idea is that this is a house we plan to be in for the long haul. We purposely found one that is comfortable to live in now but which has enough property in the lot that an extension can be built on. Including finishing the attic, this house could be made into a 5 BR home easily. I'd also like to one day finish the basement to be half playroom for the kids/half playroom for the O (full bar, leather sofas, several big screens, etc).But yes, absent the unforeseen or a significant change in plans, we would expect to stay for many years.

5 bedrooms. Is one of them a guest room for Righetti?

 

[Otis]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Because interest rates are going up, now could be the worst time to buy a house if you think there's any chance you may want to move in the future. If this house is your dream home and you plan to live there for decades then it's not a big deal. The bottom line is that you should be in no hurry since prices aren't going up any time soon.

The idea is that this is a house we plan to be in for the long haul. We purposely found one that is comfortable to live in now but which has enough property in the lot that an extension can be built on. Including finishing the attic, this house could be made into a 5 BR home easily. I'd also like to one day finish the basement to be half playroom for the kids/half playroom for the O (full bar, leather sofas, several big screens, etc).But yes, absent the unforeseen or a significant change in plans, we would expect to stay for many years.

5 bedrooms. Is one of them a guest room for Righetti?

Up to 4 kids = 5 bedrooms. We actually could have room for 6 if we want, but that's silly.I'd also like to build onto the kitchen eventually and put on a second den. That's in addition to finishing the basement and attic. The bottom line is it is a very flexible/expandable house, and we can grow it with us (as our family grows and our finances grow). By the same token, it doesn't NEED work or money now. It's a great house as is.The wife and I both want a "project" house. Something built in or around the 20s that has been well maintained but isn't in perfect shape. We want to put our own touches on it over the years. That sort of thing.Anyway, this house fits the bill for us in all important respects. But if they don't accept, there will be another one like it eventually...

 

[Rohn Jambo]

 

[ArcticEdge]

What is the mirror situation at this house?

Upgradeable.

Fun House upgradeable? Don't settle for less than that bro.

 

[Rohn Jambo]

Fair offer relative to the comps anyway.

That's how it seemed to me. I'm no expert, but by a lot of different measures, it seems like a fair offer and a good deal for everyone involved under the circumstances.

Maybe the seller has to contact his ex-wife for a decision if it is still a joint property?

 

[Rohn Jambo]

What is the mirror situation at this house?

Upgradeable.

Fun House upgradeable? Don't settle for less than that bro.

What exactly is a Fun House?

 

[ArcticEdge]

What is the mirror situation at this house?

Upgradeable.

Fun House upgradeable? Don't settle for less than that bro.

What exactly is a Fun House?

http://www.google.com/imgres?imgurl=http:/...ved=0CB8Q9QEwAA

 

[ArcticEdge]

What is the mirror situation at this house?

Upgradeable.

Fun House upgradeable? Don't settle for less than that bro.

What exactly is a Fun House?

What did you edit?

 

[Rohn Jambo]

What is the mirror situation at this house?

Upgradeable.

Fun House upgradeable? Don't settle for less than that bro.

What exactly is a Fun House?

What did you edit?

The iPad spellchecker didn't like Fun House.

 

[ArcticEdge]

The iPad spellchecker didn't like Fun House.

Oh, it's one word? Meh..

 

[Rohn Jambo]

The iPad spellchecker didn't like Fun House.

Oh, it's one word? Meh..

Go hang out in the ball pit.

 

[Hooper31]

If you're not embarrassed by your initial offer, it's too high.

Do others agree with this?

Not at all, but I think you'll find a wide variety of opinions on this much like you'll find a wide variety of opinions on how to approach any negotiation. Some are more realistic. Some are more cold blooded. Some probably take great pride in being ruthless when it comes to "the art of the deal".I'm in the situation of currently having my house on the market. We have a family coming to look for a third time this week, and we're fully expecting an offer by the end of the week. Of course this means I'm also looking at homes as well. I'll have a price in mind that I am willing to pay. When I make an offer it will likely be such that I would expect them to counter at a midpoint. If the midpoint offer matches what I would like to pay we have a deal.More importantly, don't let anyone dictate your priorities to you. If you purchase a house at a price you're happy with, smile and move on. Don't let someone else decide for you whether or not it was a good deal. Only you can look in the mirror and decide whether or not you got the right house at the right price.

 

[cstu]

Up to 4 kids = 5 bedrooms. We actually could have room for 6 if we want, but that's silly.

And 4 kids isn't? However, if you plan to do it can I suggest giving them names that begin with O, T, I, and S?

 

[El Floppo]

Give me a PM if you need me to look anything or any ideas over, expansion-wise.

eta: and gl!

 

[tommyGunZ]

Up to 4 kids = 5 bedrooms. We actually could have room for 6 if we want, but that's silly.

I'd also like to build onto the kitchen eventually and put on a second den. That's in addition to finishing the basement and attic. The bottom line is it is a very flexible/expandable house, and we can grow it with us (as our family grows and our finances grow). By the same token, it doesn't NEED work or money now. It's a great house as is.

The wife and I both want a "project" house. Something built in or around the 20s that has been well maintained but isn't in perfect shape. We want to put our own touches on it over the years. That sort of thing.

Anyway, this house fits the bill for us in all important respects. But if they don't accept, there will be another one like it eventually...

I hope you're right Oats, b/c I agree with the previous posters - the value is more likely to fall than rise over the next few years, so if you change your mind, you're screwed. I assume you've checked out the schools in the area, since there is a decent chance you'll be locked in this house for 10-15 years? Real estate is local, but I read a piece on CNN Money tonight that mentioned LI specifically:

The most overvalued area right now is the Long Island, N.Y., counties of Nassau and Suffolk, which are suburbs of New York City. The current average home value there of about $418,000 is 26% higher than the equilibrium value of $318,000.

Link Not being a downer, I'd just hate to see you get stuck with another piece of underwater RE. Now is not a bad time at all to rent for another couple years and let the market contract and then stabilize.

Be cautious bro.

 

[Otis]

Up to 4 kids = 5 bedrooms. We actually could have room for 6 if we want, but that's silly.

I'd also like to build onto the kitchen eventually and put on a second den. That's in addition to finishing the basement and attic. The bottom line is it is a very flexible/expandable house, and we can grow it with us (as our family grows and our finances grow). By the same token, it doesn't NEED work or money now. It's a great house as is.

The wife and I both want a "project" house. Something built in or around the 20s that has been well maintained but isn't in perfect shape. We want to put our own touches on it over the years. That sort of thing.

Anyway, this house fits the bill for us in all important respects. But if they don't accept, there will be another one like it eventually...

I hope you're right Oats, b/c I agree with the previous posters - the value is more likely to fall than rise over the next few years, so if you change your mind, you're screwed. I assume you've checked out the schools in the area, since there is a decent chance you'll be locked in this house for 10-15 years? Real estate is local, but I read a piece on CNN Money tonight that mentioned LI specifically:

The most overvalued area right now is the Long Island, N.Y., counties of Nassau and Suffolk, which are suburbs of New York City. The current average home value there of about $418,000 is 26% higher than the equilibrium value of $318,000.

Link Not being a downer, I'd just hate to see you get stuck with another piece of underwater RE. Now is not a bad time at all to rent for another couple years and let the market contract and then stabilize.

Be cautious bro.

Wow. Thanks dude, that is helpful. If the market there Is going to tank, maybe it is worth waiting out a year or so, if for no reason other than to get the same amount of house for 25% less. Question is whether things will tank there...

 

[JerseyToughGuys]

Well, we got a call back pretty quickly.We went in about 12% below their offer. They countered, about two hours later (on a Sunday night no less) with a counter of almost 5% off, but they apparently said that they want to "cut to the chase" and avoid the 10k here, 10k there, and that this is their bottom line. The broker as an aside said she thinks we can get them down a little bit more, but not to the 8-10% range she doesn't think. With the house having been on the market for nearly 6 months now (with little interest as far as I can tell), and with them getting back to us so fast on a Sunday night, with a big chunk coming off the selling price, I have to think they are anxious to move it and we are in the driver's seat. At this point I think we are going to hold off until tomorrow and sleep on it, but tomorrow night get back to them with a counter of near our max -- at about 9% off. We can tell her that this is really the best we can do based on what we have for a down payment and mortgage approval and see where it goes from there. In reality we can go up another 1%, but we can reserve that as our "final offer" small move in case they come back with another counter. All in all, despite the "bottom line" message, I thought they made a significant move down and it's encouraging. The message seems to be that we are all in the same ballpark.

belated :X

 

[tommyGunZ]

Up to 4 kids = 5 bedrooms. We actually could have room for 6 if we want, but that's silly.

I'd also like to build onto the kitchen eventually and put on a second den. That's in addition to finishing the basement and attic. The bottom line is it is a very flexible/expandable house, and we can grow it with us (as our family grows and our finances grow). By the same token, it doesn't NEED work or money now. It's a great house as is.

The wife and I both want a "project" house. Something built in or around the 20s that has been well maintained but isn't in perfect shape. We want to put our own touches on it over the years. That sort of thing.

Anyway, this house fits the bill for us in all important respects. But if they don't accept, there will be another one like it eventually...

I hope you're right Oats, b/c I agree with the previous posters - the value is more likely to fall than rise over the next few years, so if you change your mind, you're screwed. I assume you've checked out the schools in the area, since there is a decent chance you'll be locked in this house for 10-15 years? Real estate is local, but I read a piece on CNN Money tonight that mentioned LI specifically:

The most overvalued area right now is the Long Island, N.Y., counties of Nassau and Suffolk, which are suburbs of New York City. The current average home value there of about $418,000 is 26% higher than the equilibrium value of $318,000.

Link Not being a downer, I'd just hate to see you get stuck with another piece of underwater RE. Now is not a bad time at all to rent for another couple years and let the market contract and then stabilize.

Be cautious bro.

Wow. Thanks dude, that is helpful. If the market there Is going to tank, maybe it is worth waiting out a year or so, if for no reason other than to get the same amount of house for 25% less. Question is whether things will tank there...

Yeah, that's the million dollar question - I wouldn't put too much emphasis on a blurb from a CNN Money piece, although it's certainly eye opening that LI was their #1 ranked overpriced market. And I'm extremely biased, I still think RE is extremely risky in many areas considering the macroeconomic factors - so much so that I've been sitting on a 20% downpayment here in SD for over 2 years now and am still renting.

GL either way.

 

[Otis]

Up to 4 kids = 5 bedrooms. We actually could have room for 6 if we want, but that's silly.

I'd also like to build onto the kitchen eventually and put on a second den. That's in addition to finishing the basement and attic. The bottom line is it is a very flexible/expandable house, and we can grow it with us (as our family grows and our finances grow). By the same token, it doesn't NEED work or money now. It's a great house as is.

The wife and I both want a "project" house. Something built in or around the 20s that has been well maintained but isn't in perfect shape. We want to put our own touches on it over the years. That sort of thing.

Anyway, this house fits the bill for us in all important respects. But if they don't accept, there will be another one like it eventually...

I hope you're right Oats, b/c I agree with the previous posters - the value is more likely to fall than rise over the next few years, so if you change your mind, you're screwed. I assume you've checked out the schools in the area, since there is a decent chance you'll be locked in this house for 10-15 years? Real estate is local, but I read a piece on CNN Money tonight that mentioned LI specifically:

The most overvalued area right now is the Long Island, N.Y., counties of Nassau and Suffolk, which are suburbs of New York City. The current average home value there of about $418,000 is 26% higher than the equilibrium value of $318,000.

Link :X Not being a downer, I'd just hate to see you get stuck with another piece of underwater RE. Now is not a bad time at all to rent for another couple years and let the market contract and then stabilize.

Be cautious bro.

Wow. Thanks dude, that is helpful. If the market there Is going to tank, maybe it is worth waiting out a year or so, if for no reason other than to get the same amount of house for 25% less. Question is whether things will tank there...

Yeah, that's the million dollar question - I wouldn't put too much emphasis on a blurb from a CNN Money piece, although it's certainly eye opening that LI was their #1 ranked overpriced market. And I'm extremely biased, I still think RE is extremely risky in many areas considering the macroeconomic factors - so much so that I've been sitting on a 20% downpayment here in SD for over 2 years now and am still renting.

GL either way.

Yeah it was interesting that LI was the #1 overpriced market, but also noteworthy that they still only ranked it as an average risk because of other factors (strong local economy, desirability of the location). No matter what I have to think that the suburbs of Manhattan will just always be more resilient than pretty much anywhere else in the country. The space is limited, there are a handful of really desirable areas, and you have a whole lot of people commuting to the very same place.All good food for thought though.

 

[Getinthemix]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Correct. IMO you hold all of the cards in this. You do not have to move, you want to move. Make him play your game. If you live in your apt for a couple of years you will be able to afford a much nicer place.

 

[Otis]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Correct. IMO you hold all of the cards in this. You do not have to move, you want to move. Make him play your game. If you live in your apt for a couple of years you will be able to afford a much nicer place.

I've been thinking about this a lot. Although we'll be able to afford a more expensive place in a few years, do we really need to? We don't want to raise our children in a snooty neighborhood. We don't want to live in the uptight, blueblood or jappy Long Island towns. Some (many?) of the people there are pretty awful. Even if we have the means to live in bigger/better, we're thinking house in this area/at this price are "just right." They're nice enough, good schools, big enough, safe enough, all the amenities, but still diverse, with a high school having kids from various neighborhoods and various income level families and ethnicities. But I have been wondering about this. Would we want something more "prestigious" in 5 years? Why will I care to impress people with where I live? Why do I need the biggest/best? And yes, the kids could be in a "best" school district in terms of rankings etc., but does that matter? If a kid works hard and has the right values, won't they also have tons of opportunities in a "good" school district?

Just some things we've been kicking around.

 

[Ditkaless Wonders]

What is the mirror situation at this house?

Upgradeable.

My wife fell in love wit a 6' by 7' framed mirror she found in an Art gallerty in Santa Fe. It was a ##### getting it home, and hanging it. To hang it I opened up the drywall to expose the studs, put two vertically aligned and one horizontally alligned 2 by 4 between them, preglued and clamped and screwed together, to bear the weight. Then I closed up the wall, re-textured the wall, painted, and then hung the damn thing. It does look great. Nice frame.

She also found a 4'5" stone circle with an Aztec Calendar carved into it. That heavy ******* also had to be purchased, transported, and hung on the wall.

 

[Tiny Dancer]

But I have been wondering about this. Would we want something more "prestigious" in 5 years? Why will I care to impress people with where I live? Why do I need the biggest/best?

It's a good thing you're not someone that's image-conscious or concerned with silly things like impressing people.

 

[St. Louis Bob]

Oat, anything good in here? We're moving soon too.

 

[fasteddie_21]

But I have been wondering about this. Would we want something more "prestigious" in 5 years? Why will I care to impress people with where I live? Why do I need the biggest/best?

It's a good thing you're not someone that's image-conscious or concerned with silly things like impressing people.

 

[KGB]

Are you using a realtor? If not are you asking the selling agent to take an additional percentage off?

 

[Getinthemix]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Correct. IMO you hold all of the cards in this. You do not have to move, you want to move. Make him play your game. If you live in your apt for a couple of years you will be able to afford a much nicer place.

I've been thinking about this a lot. Although we'll be able to afford a more expensive place in a few years, do we really need to? We don't want to raise our children in a snooty neighborhood. We don't want to live in the uptight, blueblood or jappy Long Island towns. Some (many?) of the people there are pretty awful. Even if we have the means to live in bigger/better, we're thinking house in this area/at this price are "just right." They're nice enough, good schools, big enough, safe enough, all the amenities, but still diverse, with a high school having kids from various neighborhoods and various income level families and ethnicities. But I have been wondering about this. Would we want something more "prestigious" in 5 years? Why will I care to impress people with where I live? Why do I need the biggest/best? And yes, the kids could be in a "best" school district in terms of rankings etc., but does that matter? If a kid works hard and has the right values, won't they also have tons of opportunities in a "good" school district?

Just some things we've been kicking around.

I don't think you can honestly answer no to any of those questions, can you? Also with your new found status of partner, believe me you will want to move to a nicer place.

 

[Otis]

Oat, anything good in here? We're moving soon too.

Not really GB. I'll fax you with anything interesting.

 

[Otis]

Are you using a realtor? If not are you asking the selling agent to take an additional percentage off?

I'm not using a realtor. Is that common to ask them to do that?The listing agent is different from the agent that showed it to us, so I think they are splitting it. Actually now that I think about it, I suppose the woman I'm working with is our agent. since she's been compiling listings and showing us a bunch of places?I'm surrounded by crooks.

 

[Otis]

From my seat in the bleachers, you should hope that they decline your offer. In a couple of years you will look back on this house and chuckle and thank your lucky stars you did not get it. As you have said, you are not selling your current place and in a year you will be picking out a completely different pool of houses. You are in no rush. Make him play ball, because YOUR situation is doing nothing but going up.

Interesting. Is that because we will be able to afford a bigger/better house in a few years?

Correct. IMO you hold all of the cards in this. You do not have to move, you want to move. Make him play your game. If you live in your apt for a couple of years you will be able to afford a much nicer place.

I've been thinking about this a lot. Although we'll be able to afford a more expensive place in a few years, do we really need to? We don't want to raise our children in a snooty neighborhood. We don't want to live in the uptight, blueblood or jappy Long Island towns. Some (many?) of the people there are pretty awful. Even if we have the means to live in bigger/better, we're thinking house in this area/at this price are "just right." They're nice enough, good schools, big enough, safe enough, all the amenities, but still diverse, with a high school having kids from various neighborhoods and various income level families and ethnicities. But I have been wondering about this. Would we want something more "prestigious" in 5 years? Why will I care to impress people with where I live? Why do I need the biggest/best? And yes, the kids could be in a "best" school district in terms of rankings etc., but does that matter? If a kid works hard and has the right values, won't they also have tons of opportunities in a "good" school district?

Just some things we've been kicking around.

I don't think you can honestly answer no to any of those questions, can you? Also with your new found status of partner, believe me you will want to move to a nicer place.

But why?

 

[Otis]

But I have been wondering about this. Would we want something more "prestigious" in 5 years? Why will I care to impress people with where I live? Why do I need the biggest/best?

It's a good thing you're not someone that's image-conscious or concerned with silly things like impressing people.

If you're impressed, then that only means my interns are doing a good job. I credit them.

 

[JerseyToughGuys]

[quote I don't think you can honestly answer no to any of those questions, can you? Also with your new found status of partner, believe me you will want to move to a nicer place.

But why?

:rainmaking:

 

[Getinthemix]

But why?

Because when you sit around with your lawerin' buddies who are also partners, you will not want to have the smallest, least impressive house.

 

[El Floppo]

Ever looked at Maplewood NJ? Partners from an old firm of mine all lived there (including one gay couple), as well a gb from gradschool who, I think, is like-minded to you (similar concerns about wanting to live in a more mulitcultural-economic environment.

The couple that set us up originally were also long-time EVil people. They moved out to her childhood home in LI (near Rye) when the kid came- bought a decentish house, decentish commute to the city. They're miserable.

 

[Otis]

But why?

Because when you sit around with your lawerin' buddies who are also partners, you will not want to have the smallest, least impressive house.

Why will I care what house they live in?And anyway, I don't have lawyers as friends.

 

[Otis]

Well, got a call back from the broker. They are refusing to move down and are staying at their current number. As the wife and I said, it was a stretch for us to buy now anyway, so this may be a blessing in disguise in that it gives us time to stock up some more down payment etc., and then perhaps even opens up some more expensive homes to us. Additionally, we're considering selling our apartment now and just getting out into the rental market in the area of this house -- neither one of us has ever lived there, and so it seems like a good idea to test the waters for a bit before buying. Not to mention we will save a CRAPLOAD of money.

Oh, and this NYTimes article is pretty timely... link

 

[St. Louis Bob]

Oat, anything good in here? We're moving soon too.

Not really GB. I'll fax you with anything interesting.

I appreciate it, let me put a new roll of thermal paper in.It sucks you have to spend that much for a decent house. $400k around here gets you a mansion in a lot of areas.