MaStA's Account Talk

[weatherweenie]

Well I made it to New Mexico late last night. I'm not impressed with this location at all and can see why most people hate it here...the search begins tomorrow to find a place to rent. Most places have "swamp coolers" and it doesn't seem like they work too well like the Air Conditioning I am used to. This could be a long several years...

Had a similar experience many years ago when I moved from Greensboro, NC to Pueblo, CO. Went from having a heat pump, in Greensboro, to being told I would only need a swamp cooler in Pueblo. After freezing a couple of winters in Greensboro with a heat pump vs gas heat, I wasn't going to fall for the swamp cooler fallacy. Stick with what you/I know. That's gas heat and good old central a/c.

BTW, Pueblo is a hole. Hope you fare better where you are.

 

[MrJohnRoss]

Well I made it to New Mexico late last night. I'm not impressed with this location at all and can see why most people hate it here...the search begins tomorrow to find a place to rent. Most places have "swamp coolers" and it doesn't seem like they work too well like the Air Conditioning I am used to. This could be a long several years...

Alamogordo

Hahaha! Yeah, not much to do in Alamo. Spent a few years there myself. My brother still lives there, and works at White Sands Missile Range for Raytheon.

Recommendations: Take a drive up to Cloudcroft, or Ruidoso. Both are pretty nice places for a day trip. Albuquerque is about 4 hours away if you have some time on the weekend, and want some of the best Mexican food you'll ever eat.

Best of luck to you!

 

[MaStA]

I'm a little down the road from you in El Paso. The Mc Donalds on base was very good too. Had to stop there every time we checked on our KTM's refurbishments.

Oh, I didn't know you were so close lol. You actually live in El Paso or you are just there currently? I'll have to come pay you a visit sometime and learn how to become a charting master! haha

 

[Bquat]

Oh, I didn't know you were so close lol. You actually live in El Paso or you are just there currently? I'll have to come pay you a visit sometime and learn how to become a charting master! haha

Chartmaster no. I may draw them good but they seem to be contrary indicators. You've see my tracker position. That's why I try to show both sides so someone may choose the other one from my pick. The market may not follow TA anymore and over minipulated to get QE3 or maybe I need to change? Anyway if they help anybody it worth doing. I may start weening myself from them.

Anyway, we can maybe get together after you settle in. I live in Northeast El Paso.

 

[MaStA]

Well after viewing a ton of rentals...there are only a couple that are decent to me. Everyone wants a fortune for rentals here to the point that rent alone is more than my BAH at a decent place. I called the utility companies to get an average over the year for this duplex and between electric, gas, and water, sewage, and trash it was about $185-300 depending on the time of year. Most likely a family lived there though which in my case it will just be my dog and I and possibly my girlfriend in December if she moves here. That on top of the $850/month they are asking is ridiculous when I only get $783 for BAH. The property manager said they might take $800/month but I'll still be paying out of pocket big time.

Now here is a question for all of you wise people since I'm just a young 26 year old who has never owned a house. I have started considering buying a house. Obviously I would have to get one that is a 3 BR, 2 bath, with a garage, nice kitchen, etc. so I could sell it when I leave here. Problem with the military is you never know how long you will be here. It seems this base is like the black hole and it is hard to leave so who knows I could be here for six years or more. If it wasn't for the base here I think this city would not be much of anything, not that it is anything special to begin with. I just feel like tossing my BAH into something I don't own seems a little foolish and if I could buy something that is much nicer than what is for rent for the same price it might be the better option. How I see it, even if I bought a $120,000 house and sold it four years later for $120,000 I still walked away almost clear of having to pay rent for my time there...unless I'm misunderstanding something in my head lol. I know there are big tax credits for first time home buyers and being a home owner in general. Any advice from you all? Should I just stick with renting and not have to worry about it or take advantage of the low interest rate and try making my time here more enjoyable by having a home I like?

Thanks!

 

[Birchtree]

The housing market is now placing an L bottom - so I'd say go for it. Find a nice place and be prepared to do the up keep but it'll be worth the effort.

 

[ILoveTDs]

How I see it, even if I bought a $120,000 house and sold it four years later for $120,000 I still walked away almost clear of having to pay rent for my time there...unless I'm misunderstanding something in my head lol.

If you sold the house for the same amount you buy it for, your "rent" would be the interest on the mortgage you paid while you owned the house. However, your interest is tax deductable so their is a benefit to that "rent". Also you will have closing fee on the purchase and sale of the home which also could be considered "rent".

I'm with BirchTree though, your going to be their probably at least 4 years, the housing market is at a bottom I don't see a house losing money (it might not gain, but it won't lose), I say go for it.

Additionally, in my area 200K and lower houses are selling no problem, it's the big 300K+ houses that got hit with the housing bubble and lost 100K and went into shortsale. 120K house you'll be fine selling in a few years.

 

[MaStA]

If you sold the house for the same amount you buy it for, your "rent" would be the interest on the mortgage you paid while you owned the house. However, your interest is tax deductable so their is a benefit to that "rent". Also you will have closing fee on the purchase and sale of the home which also could be considered "rent".

I'm with BirchTree though, your going to be their probably at least 4 years, the housing market is at a bottom I don't see a house losing money (it might not gain, but it won't lose), I say go for it.

Additionally, in my area 200K and lower houses are selling no problem, it's the big 300K+ houses that got hit with the housing bubble and lost 100K and went into shortsale. 120K house you'll be fine selling in a few years.

I've decided that I'm going to rent first to get settled into the area and find out what other neighborhoods are good to live in here. I've found a couple of nice neighborhoods so far. You don't get much for what you pay for here it seems. Like a new $150k house is only 1,200 sq ft which is small for a 3br 2 ba. I really want my stuff out of storage and I want a "home" again since living in a hotel room with limited things kind of sucks. Hopefully on Monday I can get this duplex that I really like. Wish me luck.

 

[MaStA]

Guess I submitted my request a few seconds too late...wanted to go to G fund today. Watch I will pay for this tomorrow...

 

[Mcqlives]

I've decided that I'm going to rent first to get settled into the area and find out what other neighborhoods are good to live in here. I've found a couple of nice neighborhoods so far. You don't get much for what you pay for here it seems. Like a new $150k house is only 1,200 sq ft which is small for a 3br 2 ba. I really want my stuff out of storage and I want a "home" again since living in a hotel room with limited things kind of sucks. Hopefully on Monday I can get this duplex that I really like. Wish me luck.

Did you take a full PCS? The reason I ask is if this is "career advancement" movement there may be a tax write off for any (short term) rent you may pay while looking for suitable housing. Time to start looking for a decent CPA/tax guru in your area. You want one that will say "I'll stand with you if you ever get audited" and not one that says "you'll never get audited if I do your returns".

 

[MaStA]

Did you take a full PCS? The reason I ask is if this is "career advancement" movement there may be a tax write off for any (short term) rent you may pay while looking for suitable housing. Time to start looking for a decent CPA/tax guru in your area. You want one that will say "I'll stand with you if you ever get audited" and not one that says "you'll never get audited if I do your returns".

Yeah I did a full PCS. I'm just going to rent for now because I can't stand living in a hotel and I want my stuff out of storage lol. I found a nice house to rent close to base.

 

[bmneveu]

TZA had a nice day, if you're still hangin on to that.

 

[MaStA]

TZA had a nice day, if you're still hangin on to that.

I am still hanging on. I'm still negative slightly, but it's slowly going back up. If they don't announce more QE tomorrow hopefully the market will continue to go down. I want my losses back haha.

 

[MaStA]

A bong buying program? :suspicious: lol I think CNBC had a typo this morning...

 

[MaStA]

I think Apple is starting to lose their touch. These last couple of iPhones have been nothing special. Their stock currently thinks the same way...

I currently have an iPhone 4, but will NEVER buy an Apple product again after years of them thinking they own the world and suing everyone. Can't wait to see what new Android phones come out. To be honest I think the Samsung Galaxy S3 is still beyond this new iPhone 5 and I may very well end up getting the S3. Hopefully this new release causes the price of the S3 to go down a little so I get a better deal.

 

[bmneveu]

I'm torn between the iPhone 5 and S3. The wife got a 4S for her birthday, now it's my turn to upgrade my 3GS. I think it still works fine but she has been nudging me to upgrade, and I can't argue with having a new toy! I'll have to compare the 2 of them now that the specs are out.

 

[MaStA]

I'm torn between the iPhone 5 and S3. The wife got a 4S for her birthday, now it's my turn to upgrade my 3GS. I think it still works fine but she has been nudging me to upgrade, and I can't argue with having a new toy! I'll have to compare the 2 of them now that the specs are out.

Unfortunately they are on different upgrade timeframes it seems by like six months. One could argue one is ahead of the other, but in six months the new phone from X company will be ahead of the brand's phone. I honestly think the new iPhone is now in line with the S3 which is pretty sad since the S3 has been out for a while.

 

[MaStA]

I'll bring my thread back from the dead lol.

I'm still holding the XIV I bought at 15.74/15.76 last Wednesday/Thursday and current futures have it at 17.16. I hope we can get a little rally today to make the VIX go down and increase my XIV shares. If I could make $2/share that would be great!

 

[sniper]

I'll bring my thread back from the dead lol.

I'm still holding the XIV I bought at 15.74/15.76 last Wednesday/Thursday and current futures have it at 17.16. I hope we can get a little rally today to make the VIX go down and increase my XIV shares. If I could make $2/share that would be great!

good trade man, keep it up

 

[MaStA]

good trade man, keep it up

Thanks...but I'm getting worried. I might be selling it here soon to lock in my gains.