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Just bought a house (closed today 1.10.05)...


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Originally posted by NYC Drew:

Wish me luck. I'm tired, broke and tired and broke.

 

NYC Drew

"Stocks may rise and fall. People are no damned good, but they will always need land."

 

-Lex Luthor (Superman 1978)

Whenever you find that you are on the side of the majority, it is time to reform.

Mark Twain (1835-1910)

--------------------

Reporter: "Ah, do you think you could destroy the world?" The Tick: "Ehgad I hope not. That's where I keep all my stuff!"

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Congrats, Drew! Great move.

 

I know that part of Dutchess County. I grew up in Newburgh, on the other side of the Hudson. I still have family there but don't get there often. Next time I do, we'll get together.

 

It's a great area of NYS to live. The Hudson Valley can be spectacular, especially in the fall. It's close enough to NYC for a commute, far enough away for the pace of life to slow down a bit.

 

If you like, shoot me a PM and I can tell you some things about living in the area.

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It's amazing what you can do with photoshop:

 

BEFORE:

http://www.blairsvilleinsurance.com/images/Img63.jpg

 

AFTER:

 

http://www.what-the.com/images/DrewHouse.jpg

 

:D

Fa Fa FA Fa fa fa fa fa FA fa FA FA
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Rebonn,

 

That house is a VERY close representation of what my mother grew up in, and what I returned to after being born in a hospital, in Jamaica.

 

NYC Drew

 

Mark Z,

 

I'll definately send you a PM later this week...I'm in a complex called "Heritage Hills" or "The Sagamor". Approx 150 houses all built 2002-2003, no association, no common charges. On the flip side, no community tennis center/pool etc; but there's a great golf course 1/2 mile down the road for when I turn 40; and there's a slamming recreational center 3 clicks over in Beekman (Dalton Farms) that has everything - plus a ranch with horses.

 

Again, thanks all. I'm still a wee bit numb from this.

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Fantastic! That's a beautiful home with a beautiful background. I'm sure your significant other must be excited to have extra space for herself and the kids. I don't know where you live now, exactly, but I'm guessing the view is nicer as well. ;)

 

That's a beautiful shot of the house, but I brightened it. Couldn't see the details. The compression was high, so sorry if it isn't quite as fine quality. ;)

 

http://img1.exs.cx/img1/8854/drewhouse8wh.jpg

It's easiest to find me on Facebook. Neil Bergman

 

Soundclick

fntstcsnd

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Wow... that's awesome! Congrats Drew! There is NOTHING like the feeling of owning your own home. :) I'm still not over it, almost 11 years after closing on mine... course the fact that I need a new roof and some other stuff and don't have the money for it right now puts a bit of a damper on things. :D

 

Looks like a beautiful house Drew; let us know when you get moved in and we'll have a virtual housewarming party! And I'm sure we can help you out with all the maintenance questions.

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Beautiful house Drew - Congratulations! I did the long distance move last fall - from Cleveland to Memphis! Trouble is, the house up north isn't sold yet, so I've got both payments going on...

 

May you and your family have many years of peace and happiness in your new home.

- Calfee Jones
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Very nice NYC Drew.... Beautiful autumn foilage too! Congratulations on the purchase of your home and my you find many years of joy in creating new memories there.

 

Hopefully you don't have bears for neighbors :eek:

 

Good Luck!!!

You can take the man away from his music, but you can't take the music out of the man.

 

Books by Craig Anderton through Amazon

 

Sweetwater: Bruce Swedien\'s "Make Mine Music"

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I recognized your urban assault vehicles in the driveway. ;)

 

Congrats, man! That is incredible. Your little house in the woods would be $4M easily in my area of town, so your price seems right to me! I can't even dream that big. The area looks beautiful, and I'm sure your family is as happy as you are.

 

:thu:

 

- Jeff

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Originally posted by Jeff Da Weasel:

I recognized your urban assault vehicles in the driveway. ;)

Yeah. I picked it up last Feb. Too many trips with the car lugging 3-4 computers at a time, or only being able to haul one or two racks.

 

With the 2nd folded down and the 3rd row out, I have 7+ (maybe 8)ft of floor space. The beast sucks fuel in a bad way though...

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Drew, I'm not familiar with the bears in your neck of the woods, but I imagine they're not much different than our typical California black bear. The rear tracks usually overlap the front tracks, and make it look like a letter "U" or rounded V shape, with one of the tops of the U a bit taller up than the other, with five toes and claws visible on top of the U. A smaller bear may have a print about the size of my hand, fingers extended. Larger bears can, of course, leave larger tracks.

 

Let me see if I can find an image for you...

 

Okay, here you go:

 

http://www.bcadventure.com/adventure/wilderness/animals/blackbear.gif

 

Bears are incredibly talented, strong, intelligent and resourceful, and can figure out ways to solve a variety of problems, making them great at getting into things you'd rather they didn't - trash is a favorite target of bears, and so sturdy, locking outbuildings and sheds are often used for storing trash cans in bear country. Don't leave anything yummy in your car either. And setting out meat or pies on that front porch might not be a good idea either... although bears do tend to be nocturnal, so setting out something during the day may not be a problem.

 

Black bears will usually stay well away from people if they see (or more likely smell) you first, but you do have to be wary of sick, injured or starving animals, because you never can tell what they might do. Caution around cubs can't be overstated... momma bears tend to get really protective if their cubs are nearby. Don't feed 'em or encourage them to hang around by making food sources easily available.

 

I would imagine your new neighbors can give you the skinny on the local animal population, and what precautions they take if there are indeed bears in the area. I wouldn't worry at all about the deer, unless you have plants you don't want them nibbling on - which is probably the greatest danger (short of hitting one with your car) that they pose.

 

You've come a long way from the poverty of your youth my friend - I'm very happy for you. :thu:

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"the house was slightly north of $1/2M"

 

As Lurch from the Addam's Family would say,

 

"ERRRRRRRRRRRR" as he shakes his head.

 

Must be nice to be rich, and be able to afford the expenses of a house like that.....you must be doing very well.

 

Me ?? I'm more of the old shack type guy. 30 years ago, I had an uncle who lived in a shack that looked very much like that one in the picture. For real.

Living' in the shadow,

of someone else's dream....

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Hey ya Phil, thanks!!

 

I think we're overdue our once-in-a-blue-moon phone conversation anyways!! :)

 

OT: >>Not 10 minutes from where I am is a great store...I'm gonna pick up a used shottty from them to round out my collection, so I'll more than likely making that call to you sooner than later.

------------------------------------

 

Shars,

 

Now that you are a seasoned "mover" I'll fly you over to help me and the missus move... :D

 

Neil,

 

I have quite a few pix, but never did any corrections on them - my bad.

 

Jeff,

 

I hope that $4M is a typo, given that the "$" key and the "4" key are on the same button!!

 

Kevin N (Big K),

 

The kid is doing gang busters. Thanks for the thoughts, really do appreciate it.

 

Lee, Ani, Calfee, Ken - any advice on the major things (new) homeowners should avoid? My last home was a co-op...thanks all around again.

 

-----------------------------

 

Originally posted by djwayne:

"the house was slightly north of $1/2M"

...

Must be nice to be rich, and be able to afford the expenses of a house like that.....you must be doing very well.

 

Me ?? I'm more of the old shack type guy. 30 years ago, I had an uncle who lived in a shack that looked very much like that one in the picture. For real.

DJ Wayne.

 

I work 12-16hrs a day, 6 days a week OR MORE, save like a maniac, invest wisely (I hope), never had any addictions (no fancy rims/stereos on cars etc, drugs, gear, expensive girls), live frugally (still do), first guy in, last guy out.

It has NOTHING to do with being "rich" and everything with putting the dollars (and efforts) I earn into what I believe in - my family, our health, my company.

 

As most homeowners here know, a new homeowner is more often than not one sneeze away from bankrupcy for the first 1-2 (or more) years.

 

Peace.

-------------------------------

 

NYC Drew

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Drew, mucho congrats on the beautiful, and practically new, home...and in such an incredible setting too! :eek: I must admit I envy your property a bit...at least until springtime comes and the maintenance starts! :P We moved into a house of similar size over the summer but we're only on 1/3 acre.

 

Regarding price/value, maybe this will put you at ease a little: I think we paid just about the same price as you (mid $500k's) for our place in late June. We just refinanced our mortgage (settled yesterday) and our appraisal came back $50K above the purchase price. In only 6 months! And, to be truthful, I think it was a bit low looking at some of the other recent sales in the neighborhood. I realize location plays the biggest role in property value, and we're in totally different areas, but I'm just saying that, even though I thought we were kinda late to the party, so far it's working out pretty well!

 

BTW, is your basement finished?

 

Good luck!!!

None more black.
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NYC Drew, years ago I used to sell real estate, and it's shocking how the prices have risen. My biggest concern is if you need to re-sell the house in the near future, and whether or not mortgage rates will sky rocket again, like they have in the past. Hopefully everything will work out fine, but life has a way of throwing monkeywrenches into best laid plans of mice and men. I don't need to get into your personal finances, it's really none of my business, but I just hope you didn't have to take out a huge mortgage. There's so many risks in life, job security, economic changes, health, some of which is beyong our control. My plan at this point is to get totally out of debt. I see a house like that and I cringe at the thought of a big fat mortgage. I want a house to work for me, not me working for the house. To each his own, and good luck !! It's a very attractive house though, and hope you enjoy it.

 

If you get a chance, you may want to visit the mansions in Poughkeepskie, I have and they are very interesting. They have public tours of F.D.R's mansion, The Vanderbilt mansion, and Mills mansion, that I've gone to. You can see how the other half lived.

Living' in the shadow,

of someone else's dream....

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Originally posted by NYC Drew:

Lee, Ani, Calfee, Ken - any advice on the major things (new) homeowners should avoid?

Yeah... avoid the temptation to do everything you want to do to it at once! :) Just pick one improvement project at a time and don't start another one until the money is in hand and the last project you did is done and you know you're happy with it. One project sometimes has a way of creating another, or not turning out like you expected, and if you are still introducing even more new factors, you could end up with total chaos in your home, which you really don't want. :D Take your time... even as long as I've been in my home I am still doing new things to it that I'd wanted to do since I moved in. But it's fun, there's always a little something new so I never take it for granted. Also, you may end up needing budgeted home improvement funds for little emergencies that come up during the first year, when you're still figuring out if all your systems are working like they're supposed to.

 

Oh, and you probably know this already, but nearly all building contractors/handymen are totally unreliable. :D Not like they won't get the job done eventually, but don't expect them to show up when they say they will or finish the job by when they say they will. And if you find one who does, lock him up in the basement and don't let him out. :D You don't want anybody else finding out about him or he'll soon be overloaded with customers and end up like all the rest of them.

 

As most homeowners here know, a new homeowner is more often than not one sneeze away from bankrupcy for the first 1-2 (or more) years.
Actually that's more where I am NOW. :D When I bought my home, it was dirt cheap, I had a full time job that paid well, and most of the systems had been newly replaced. Now, I'm self employed, spending more time working at long term music goals than earning short term income, and everything in my home is 10 years older and needs or will soon need replacing. I'm pretty nervous most days. But I guess sometimes you gotta take risks in order to not have regrets later on. At least my monthly expenses are really low and I didn't get myself in a lot of debt. That's the real killer.
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Drew, disregard all of djwayne's negative diatribe. It is scarey to plop down such a huge amount of money every month. I'd much rather have my budget stretched by a mortgage payment than a car payment. The car will only lose you equity, the property will gain equity. Though there may be down cycles now and again, real property will always gain. Well, maybe a person can make an exception for Ohio. I know that is one state I would never live and maybe folks are leaving there in droves. I've Been there too many times and I'd rather go anywhere else. It's possible I'm not the only one and in that case, yes, property values will go down in Ohio.

You will never lose in real estate if you buy in a good area, pay a reasonable price for the property and keep it up or improve it. In that area I wouldn't be surprised to see a near 10% increase in value in the next year or so, not like here in SoCal. In my county the value increase that has been in the 25%+ per year is going to drop to, Oh No!, 15%, or so.

Now, the improvements must not be something that's totally out of line with what is in the area or it actually detracts from the value of the house but you're not going to be in that kind of area.

You have made what looks to be an outstanding purchase.

 

Our Joint

 

"When you come slam bang up against trouble, it never looks half as bad if you face up to it." The Duke...

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Originally posted by DakLander:

Drew, disregard all of djwayne's negative diatribe....

Dak,

 

I did take his sage into consideration. The question I would ask (him, anyone) is: What the HELL am I to do with my earnings; buy studio gear? Leave it to my relatives when I die? Take exotic vacations or buy flashy clothes and/or cars? Yes, what he says is sobering. We get sick, bills innudate us, etc etc.

 

Antimatter, the topic of painting came up just today, as the house is plenty empty. I'm considering to put up a low sheen oil based paint, but I'm not sure how it's going to adhere to the current finish and material (feels like sheetrock). With three boys, two under four...things get messy.

 

I shoveled so much white shit today, my back hurts. There's a guy that plows the driveways for a fwe bux each go around. I gotta get that guy on my property. Suddenly the 70ft driveway is no longer charming...

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Originally posted by NYC Drew:

Originally posted by DakLander:

Drew, disregard all of djwayne's negative diatribe....

Dak,

 

I did take his sage into consideration. The question I would ask (him, anyone) is: What the HELL am I to do with my earnings; buy studio gear? Leave it to my relatives when I die? Take exotic vacations or buy flashy clothes and/or cars? Yes, what he says is sobering. We get sick, bills innudate us, etc etc.

 

I shoveled so much white shit today, my back hurts. There's a guy that plows the driveways for a fwe bux each go around. I gotta get that guy on my property. Suddenly the 70ft driveway is no longer charming...

Yeah, I figured but if a guy is too afraid of a risk he'll never go anything. And, in reality, in the long run, real estate is not much of a risk. Again, in a good area.

 

Time for a snow blower purchase. if you can make it until spring you're sure to find a better deal on one.

That is one think I never liked, shoveling that white fluffy stuff. Damned shit gets really heavy once it gets on the ground.

 

Our Joint

 

"When you come slam bang up against trouble, it never looks half as bad if you face up to it." The Duke...

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Oh I'm not afraid of risk, just experienced in Real Estate. I'm not saying it's a bad deal, heck it may turn out to be a great deal and appreciate even more. My sister bought a condo once held on to it for 1 year and it went up in value $100,000 in ONE YEAR !!!!

 

However, if interest rates go up substantially like they have in the past, it could be a different story, and values drop. I'm not a fortune teller, and can't predict the future, but if the Federal Reserve Board goes on another "Whip Inflation Now" binge with artificially high interest rates...look out.

 

I wouldn't even dream of buying a house for $1.2 million, because I'm nowhere near the income level to afford anything in that price range. IF YOU CAN AFFORD IT, heck ya, go for it and enjoy the house. If your stretching to make the monthly payments though, and lose your income, the bill collectors will drive ya crazy. You'll have to sell a lot of records and gigs, to cover the payments, but that's your business...some people in the music business wouldn't think twice about paying cash for a house like that....so if you're doing that well, lucky you !!! :eek::D

Living' in the shadow,

of someone else's dream....

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Nice look'n place you got there, Drew.

 

In defense of DJDwayne....I *THINK* he was saying that he hoped you hadn't taken out the largest mortgage you could possibly qualify for.

Maybe I'm wrong about that.

 

It doesn't really matter though. It's like anything. You go in...you do your best with it. If it works out, great. If not, you move on and find something else.

 

I'm sure your new home will provide you with many years of good memories. Congrats.

 

Is this your first home?

 

Originally posted by Philip O'Keefe:

http://www.bcadventure.com/adventure/wilderness/animals/blackbear.gif

 

Don't leave anything yummy in your car either. And setting out meat or pies on that front porch might not be a good idea either...

Also, never feed bears peanuts like this...

 

http://www.fivewindows.com/photos/mouthfeed.jpg

Super 8

 

Hear my stuff here

 

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Originally posted by NYC Drew:

Original post:

Just bought a house (closed today 1.10.04)...

Drew

 

I hope you didn't date all the checks and closing papers "1.10.04"!!!

 

:D

 

Congratulations!

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What I'm saying is, "If your momma told you real estate always goes up in value, your momma lied to you."

If you think there will always be a buyer waiting in the wings to buy your house at your price, you will be surprised. Some houses in that price range only will be affordable for so many people, and it could be a tough sell, if you have to re-sell it in the near future.

Living' in the shadow,

of someone else's dream....

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Originally posted by theblue1...

 

I hope you didn't date all the checks and closing papers "1.10.04"!!!

 

:D

 

Congratulations![/QB]

Hey!!! I was VERY tempted to do that, but was severely forewarned by my ever vigilant attorney.

 

Nursers, you can swing by anytime. The basement is still unfinished though, so no studio yet (probably no studio EVER - too much of a cash drain).

 

Super 8, it's my 1st "house" here... I have a co-op in Yonkers (where company will relocate to once move to house is complete), and we (missus & I - mostly her) own a house in Jamaica + some bequeathed property in beautiful Port Antonio, Jamaica.

 

For the curious, I paid $27,500 for the co-op (1993), it's worth north of $100K. So far I've spent a grand total of $500 on it for a coat of paint 3 yrs ago...

 

I put down a fair chunk on the house. Think of a number represented by six fingers.

 

DJWayne.

There are properties in my complex/development listing (and selling) for $700k+ . All of these houses were born on or around 2002, initially listed for $400k+, and for the most part, the likely additions are pools or finished basements.

 

In Yonkers, as is the case in Mount Vernon, people are buying run down houses for $380K, knocking them down, and building brand spanking new houses. I've been tracking housing trends in NY for 15 years. The only time the (THIS) market contracted was in 1992-93. My aunts have gotten a better return on their house investments than the most aggressive stocks IN THE LONG TERM. It also does not hurt if you live on your property.

 

Even in the face of rising interest rates, properties within spitting distance (ie 20-30-40-50 miles) of the $2M apartments in Manhattan accelerate in value faster than most other properties in this Metro area.

 

Despite all of this, I'm still accepting donations, or a snow blower or a 25lb of "sno-melt".

 

Also, what's with the "water softener device" in the basement???????

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