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Posted on 3/5/14 at 4:42 pm to Topwater Trout
quote:
All these million dollar plus houses in town
you sure you don't mean 300-500k?
if you put 20% down, the PI monthly payment on a 500k home is like $1800. That isn't that much.
hell, where I live try to find a rental for $1800 a month. You can't.
Posted on 3/5/14 at 4:50 pm to Hawkeye95
Not many people put down 20% on homes that are over 500k
Posted on 3/5/14 at 4:54 pm to Paul Allen
quote:
Not many people put down 20% on homes that are over 500k
to get a jumbo loan, aka over $417k, you usually have to put down 20%. So a $521k home requires 20% down.
This post was edited on 3/5/14 at 4:54 pm
Posted on 3/5/14 at 5:01 pm to RedRifle
I don't think some of y'all realize how much wealth there actually is in BR.
Posted on 3/5/14 at 5:09 pm to Golfer
Sure there's wealth in BR, just nowhere near the likes of Charleston, Birmingham or Atlanta.
Posted on 3/5/14 at 5:16 pm to Golfer
quote:
Is there a housing bubble in Baton Rouge?
I don't think some of y'all realize how much wealth there actually is in BR.
So what does this wealth do? Lawyers don't bill like DC, there is no finance market like NYC, not enough Fortune 500 like Atlanta, energy like Houston, film and tech like California etc etc.
Posted on 3/5/14 at 5:18 pm to RedRifle
quote:
So what does this wealth do
Small business owners who are probably overextended and in big time debt.
Posted on 3/5/14 at 5:22 pm to Paul Allen
Baton Rouge has 1000's of small businesses. I would assumes at least a couple hundred of those businesses generate at least 200k a year for the owners. A million dollar house isn't out of the realm of a guy in business for 25 years with little to no debt.
Posted on 3/5/14 at 5:25 pm to Paul Allen
quote:
Sure there's wealth in BR, just nowhere near the likes of Charleston, Birmingham or Atlanta.
Well yea. But the perception that BR is some broke southern town is false.
There's a ton of industrial construction and state gov contractors. Add in a bunch of people with Dow and Exxon stock and it's a healthy number that can afford these homes.
Posted on 3/5/14 at 5:27 pm to Hawkeye95
quote:
if you put 20% down, the PI monthly payment on a 500k home is like $1800.
Ummmm no it isn't. Try a mortgage calculator.
Posted on 3/5/14 at 5:28 pm to Golfer
quote:
I don't think some of y'all realize how much wealth there actually is in BR.
Agreed
Posted on 3/5/14 at 5:28 pm to Golfer
I agree with golfer, there are not only owners of construction firms but presidents and Vice Presidents of construction companies that take home 1 million a yr.
Posted on 3/5/14 at 5:28 pm to Motorboat
quote:
Ummmm no it isn't. Try a mortgage calculator.
I mean $1800 is close to $1900.
Posted on 3/5/14 at 5:33 pm to 4WHLN
...
This post was edited on 9/15/14 at 7:32 pm
Posted on 3/5/14 at 5:40 pm to MyNameIsNobody
Was that before or after he was arrested?
Posted on 3/5/14 at 5:49 pm to RedRifle
quote:
Is there a housing bubble in Baton Rouge?
No, but there is a doodie bubble.
Posted on 3/5/14 at 5:50 pm to Motorboat
quote:
Ummmm no it isn't. Try a mortgage calculator.
you are right.
well I just bought a house for about that much, but I did go with a 10/1, and got 3.8% and my PI was just under $1800.
If you go with a 30 year fixed it will be higher, but still not that much more. Depending on the rate, last week I was quoted 4.25, although rates are a little bit up right now.
This post was edited on 3/5/14 at 6:03 pm
Posted on 3/5/14 at 6:17 pm to rollindaddy
quote:
might be the black guy who owns a construction firm here in town....his was for sale in mallard lakes but i thought it was for around 4 mil... it has his initials on lawn in front entrance to house
It wasn't just his initials, it was his whole last name, hosley or something. Guy is complete garbage, made a few quick bucks getting minority contracts, defaulted on some jobs etc. Not that any of that is surprising
Posted on 3/5/14 at 6:26 pm to Hawkeye95
quote:
if you put 20% down, the PI monthly payment on a 500k home is like $1800.
BS
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