Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(WWSB ABC 7)   In Florida, where nothing is holier than property values, what better way to get back at your neighbors than by spray painting your house with graffiti?   ( mysuncoast.com) divider line
    More: Florida, property value, Sarasota, Ordinances of 1311, private property  
•       •       •

8808 clicks; posted to Main » on 03 Jan 2013 at 10:57 PM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2013-01-04 12:26:20 PM  
1 vote:
bluefoxicy:

"What happens here is since 90% of your payment is "Interest" and 10% is "Principal", you double your payment and make 10 payments at once. The amount of actual interest you pay vanishes and you pay almost nothing, you pay your house off in 4 years, and you start saving money like crazy."

Can't say that fully makes sense, but I'll take it into consideration.

Right now my rent is pretty low, the house is in the family, and I'm expecting (fingers crossed) to get a significant portion of the estate when the owner dies, which might be soonish, as she's in her 90s. The inheritance will make a big dent in the down payment on a different place (this one's a shiathole), hopefully making my interest manageable.

Housing prices are still pretty low (since the bubble burst) in my neighborhood, because it's a poor area. Crime's not great, but it's no baltimore. I just wish my neighbors would stop stealing my dog.
2013-01-04 12:16:38 PM  
1 vote:

o'really: CapeFearCadaver:
"Upset with town, Cary man spray-paints own home"

Wonder whatever happened to that case? Looks like the homeowner won against the city twice, and it went to a 3rd appeal in oct last year, even though the homeowner died in '11. He claimed the city's drainage issues caused his lung cancer, ha.


Still in litigation with his Estate (daughter) I'd imagine. The town had been ordered to pay over 45k and it's been in appeal since then.
2013-01-04 12:05:03 PM  
1 vote:

o'really:
Damn, where do u live? I'm saving up for a house, but ill be buying in the hood. 30 year mortgages around here are often $4500 a month, sigh.


Baltimore City, terrible place. Also I have a 15 year but I pay extra.

Here's a hint: high interest rates are to your great advantage. High rates in general bring house prices down. You are still paying $400k, just $100k is "equity" and $300k is split between the bank and the Federal Treasury (the bank borrows money, if Treasury loans are 7% then the bank will want a 9.5% interest rate.. .right now they're 0% and the bank wants 2.75% interest).

So your house is cheaper, but most of what you pay is interest. You start with a low loan balance but pay much more.

My house, at 2.75%, $49094, is like P&I for the first payment is 70% principal. The P&I thing is hogwash for idiots: it's the amortization that if you wait a month between payments, you will accrue $X interest and pay a payment of $C, where your final balance will be $C-$X lower than it was after your last payment was made. They call that $C-$X your "Principal payment", but the truth is you accrue loan balance DAILY and you pay interest on interest.

Now, consider that your 30 year loan at 14% interest on a $400k house starts with a $100k balance, whereas at 2% interest you start with like a $350k balance, either way you pay $400k. (Yes these interest calculations are wrong; we can use real numbers, the effect will be the same).

If you double your payment on your 2% interest loan, you pay like 3.5 times as much "Principal". You skip 2.5 payments each payment.

On the 14% loan, your payments are the same because "housing prices went down" when the mortgage rates went up--because nobody can afford houses that suddenly cost 4 times as much, so those houses don't sell unless the prices come down.

You double those payments.

What happens here is since 90% of your payment is "Interest" and 10% is "Principal", you double your payment and make 10 payments at once. The amount of actual interest you pay vanishes and you pay almost nothing, you pay your house off in 4 years, and you start saving money like crazy.

I mean, if you just take a 14% interest rate when the market rate is 2.5%, you're getting screwed. Get the lowest rate you can. But when the lowest rate you can get is 13.75%, house prices come down in general. At that point, you can screw the hell out of the bank by buying a house that costs a fair bit less than you can afford. Never buy the biggest house you can afford; buy the smallest house you need plus a moderate comfort margin, and make sure you can afford a sizable payment above and beyond the base (or take the opportunity if it's cheaper than renting and nothing better is likely to come along any time soon--speculation).
2013-01-04 11:28:32 AM  
1 vote:
bluefoxicy:
"I rented until I wanted a bigger place. Paying $725 rent, I bought a place for $500/mo mortgage that's 3 times bigger (including a basement the size of my whole apartment) and 1.75 miles from the light rail (I have a folding bicycle), and the rail is right in my employer's rear parking lot."

Damn, where do u live? I'm saving up for a house, but ill be buying in the hood. 30 year mortgages around here are often $4500 a month, sigh.
2013-01-04 09:35:54 AM  
1 vote:
People in FL get stupid over property values. The last neighborhood I lived in with my parents had a good example. It was a nice neighborhood, houses worth around $250k (1996-ish), gated community, HOA, etc. There was a pond in the center of one section of the neighborhood. For some odd reason the water feature was off center towards one end. Well when it broke from age the HOA put the new one in the center of the pond. One lady flipped her shiat because the old water feature was visible from her picture window and the new one was not. She filed suit for $100,000 for loss of property value. She wanted $100k because she couldnt see the farking sprinkler in the pond anymore. They ended up dragging the thing back off center so it was in front of her window.
d23 [BareFark]
2013-01-04 08:27:41 AM  
1 vote:
ASSHOLES ON PARADE.

Another Florida story with no good guys...
2013-01-04 06:30:09 AM  
1 vote:
There is no constitutional right to property values. There is a right to private property
2013-01-03 11:15:08 PM  
1 vote:

JasonOfOrillia: In my city there are bylaws that establish fines for property owners who don't clean up graffiti (among other things). I'm surprised that they don't have these sorts of laws in this jurisdiction.


If you do it to your own home, it isn't graffiti, it's just tasteless. Of course if you want to claim that it is graffiti regardless of who painted it, then we're just going that ol' slippery slope.
2013-01-03 10:04:45 PM  
1 vote:

fusillade762: Why is there a hole in their wall?


Redneck emergency exit?
 
Displayed 9 of 9 comments

View Voting Results: Smartest and Funniest

This thread is archived, and closed to new comments.

Continue Farking

On Twitter





Top Commented
Javascript is required to view headlines in widget.
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report