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Started By
Message
1
Posted on 7/29/14 at 10:05 am to dnm3305
quote:
5 acres of land
Maybe for you, but I'm not interested in blowing 7k on a lawn mower, and I'm not spending every Saturday cutting all that grass.
Posted on 7/29/14 at 10:05 am to Count Chocula
quote:
there are shitloads of $40,000 a year "bazillionairres" and trust fund dudes who buy a house, move in and 2 years later get foreclosed on.
I keep hearing this, but how does someone with an income that low ever convince a bank to give them a loan for a $500k+ house?
Posted on 7/29/14 at 10:06 am to Count Chocula
quote:
shite, that's just for the lot.
The house will be in the $300 to $400 psf range.
Houses sold in RR for last 6 months avg about 208 / sq ft. Some guy pissed everyone off and sold his for 150/sq ft. It's really not that crazy expensive ...
Posted on 7/29/14 at 10:07 am to CptRusty
quote:
I keep hearing this, but how does someone with an income that low ever convince a bank to give them a loan for a $500k+ house?
I honestly don't understand how this happens, but I see it happen all of the time.
Posted on 7/29/14 at 10:07 am to kingbob
quote:
There's a lot of old school laffy that will always do Fatima or Cathedral for middle school and STM for high school, but it's not really necessary
ESA is where the high rollers send their spawn now.
Posted on 7/29/14 at 10:07 am to G Vice
quote:
quote:
5 acres of land
Maybe for you, but I'm not interested in blowing 7k on a lawn mower, and I'm not spending every Saturday cutting all that grass.
Not that my wife and I were ever in the market for that kind of land, but we've thought about buying in a rural area, but we didn't want our kid to be far away from a neighborhood where he could have friends. When we move, it'll probably be in a cookie cutter hood. Plus I hate cutting grass, but it would be nice to have all that land so I can practice my chipping and approach shots.
Posted on 7/29/14 at 10:08 am to Chum Lee
quote:
Are private schools a must in Laffy
Absolutely not
Posted on 7/29/14 at 10:08 am to CptRusty
quote:
I keep hearing this, but how does someone with an income that low ever convince a bank to give them a loan for a $500k+ house?
I doubt that happens anymore. Maybe when the banks were throwing money out everywhere, but not in the last 5 years.
Posted on 7/29/14 at 10:12 am to Kracka
quote:
You will pay as much or more to buy 5 acres in Youngsville as it will cost you to build a house. A friend of mine just bough 4 acres off 187 near cade, it was 280k.
The guy is contemplating buying an overpriced house in RR, I figured money wasnt really an issue.
Posted on 7/29/14 at 10:12 am to Al Dante
quote:
AES is where the high rollers send their spawn now.
FIFY
Ascension Episcopal is a terrific school. The main high school campus is in Youngsville right across from Sugar Mill Pond. The academics are great, and about 90% of the kids participate in at least one sport. They encourage kids to play multiple sports rather than locking them down into one area.
Posted on 7/29/14 at 10:12 am to Al Dante
quote:
ESA is where the high rollers send their spawn now.
ESA has a lot of money but classes are really small. Most of the old money kids go to STM. St Martin Parish people and folks who hate STM send their kids to Teurlings.
Posted on 7/29/14 at 10:13 am to Al Dante
quote:
ESA
Still undefeated in football!
Posted on 7/29/14 at 10:14 am to LSUTigers00884
River Ranch 
Posted on 7/29/14 at 10:15 am to Chum Lee
quote:
Houses sold in RR for last 6 months avg about 208 / sq ft. Some guy pissed everyone off and sold his for 150/sq ft. It's really not that crazy expensive ...
~$200/sq ft isn't really that expensive for "city living". Look at price per sq ft in any larger city (I realize Lafayette isn't a larger city) and you'll see similar or even higher prices.
Posted on 7/29/14 at 10:16 am to JudgeHolden
quote:is where the kids go after they can't handle the work load at ESA. I've seen it multiple times.
AES
Posted on 7/29/14 at 10:18 am to Al Dante
quote:it's Ascension now
ESA is where the high rollers send their spawn now.
Posted on 7/29/14 at 10:23 am to Detective Gamble
There are no yards in river ranch for kids to play in unless you buy a really expensive house.
Posted on 7/29/14 at 10:23 am to CptRusty
quote:That was prior to the "mortgage meltdown" a few years ago. If you had a $40,000 a year job, banks would fall all over themselves trying to offer you these "creative" financing packages compliments of Fannie and Freddie (remember the crook Barney Franks).
but how does someone with an income that low ever convince a bank to give them a loan for a $500k+ house?
Creative mortgaging meant a five year balloon note at a ridiculously low monthly payment ($500,000 house for $1,000 a month)that a person with a $40k to $50k could afford. But upon ballooning, the monthly note went to a much higher monthly payment - but not to worry - you could refinance - and with increased housing prices and with the "Huge Equity increase" (HEI) you would experience and a trumped up new appraisal, you could use the equity to pay down the new mortgage and like magic, BOOM, your house note would stay at $1,000 month.
This all sounds good except the bottom fell out of the housing market and the HEI never occurred. BOOM, foreclosure in RR!
This post was edited on 7/29/14 at 10:26 am
Posted on 7/29/14 at 10:23 am to tiddlesmcdiddles
quote:
Crystal Cove
Thats where im building...I like the lot size in there. Its actually youngsville...Ella trace across the street is Broussard...and walkers lake catercorner from it is Lafayette.
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