MrJohnRoss' Account Talk

The rally in the markets started on Friday, but due to IFT limitations, today is my first chance to get back in. 100% S Fund as of C.O.B. today.

This is actually a high risk trade, because it immediately burns one IFT on the very 1st day of the month. With only 1 IFT remaining, I'll have to navigate this ship with a broad perspective.

No no, not that kind of broad. Git your mind out of the gutter. :embarrest:
 
The market is up. This is both good news and bad news...

The bad news is, I'll be buying into the S Fund at a higher price.

The good news is, my 401K and Roth accounts are absolutely booming.

Eh, what are ya gonna do?
 
The Fed wants you to feel that boom and relax as you try to spend some money to help the economy.

Oh trust me, the velocity of money swirling around me has been quite high lately. Getting ready to sell our current residence, and downsize to a smaller abode. So we've had contractors at our house for months fixing up the place. Kitchen was completely re-done. Granite, sinks, cooktop, convection ovens, cabinets... You get the picture. New shower is done. Now the painters just got started today painting throughout the house. Next we'll re-do most of the carpets and floors. And a new roof. And more insulation. And landscaping. We'll probably have another months worth of work done before we're all said and done. Those check amounts coming out of my account are rather steep. But it will be one hell of a primo residence for whoever is lucky enough to snap it up.
 
Oh trust me, the velocity of money swirling around me has been quite high lately. Getting ready to sell our current residence, and downsize to a smaller abode. So we've had contractors at our house for months fixing up the place. Kitchen was completely re-done. Granite, sinks, cooktop, convection ovens, cabinets... You get the picture. New shower is done. Now the painters just got started today painting throughout the house. Next we'll re-do most of the carpets and floors. And a new roof. And more insulation. And landscaping. We'll probably have another months worth of work done before we're all said and done. Those check amounts coming out of my account are rather steep. But it will be one hell of a primo residence for whoever is lucky enough to snap it up.

Wow! That's all a lot of work ... and expense. You're going to move out after doing all that? Did you get appraiser/realtor advice in making those remodel calls? My house needs some work, and we're probably going to downsize in a few years. I'm trying to figure that piece out. What makes sense to do, and what not? Plus, should we do it right now and enjoy it for a few years or wait till the last year. Any experience/advice you can share would be much appreciated John.
 
Oh trust me, the velocity of money swirling around me has been quite high lately. Getting ready to sell our current residence, and downsize to a smaller abode. So we've had contractors at our house for months fixing up the place. Kitchen was completely re-done. Granite, sinks, cooktop, convection ovens, cabinets... You get the picture. New shower is done. Now the painters just got started today painting throughout the house. Next we'll re-do most of the carpets and floors. And a new roof. And more insulation. And landscaping. We'll probably have another months worth of work done before we're all said and done. Those check amounts coming out of my account are rather steep. But it will be one hell of a primo residence for whoever is lucky enough to snap it up.
Gonna sell this summer too. But I'm not throwin' THAT much money into it! Hope you make it back in the sale. Good luck MJR!
 
Wow! That's all a lot of work ... and expense. You're going to move out after doing all that? Did you get appraiser/realtor advice in making those remodel calls? My house needs some work, and we're probably going to downsize in a few years. I'm trying to figure that piece out. What makes sense to do, and what not? Plus, should we do it right now and enjoy it for a few years or wait till the last year. Any experience/advice you can share would be much appreciated John.

Do it now and enjoy some of it. Wished we hadn't waited.

Yes we got advice from our real estate pro. We hope to get top dollar. Kitchen and baths are where you want to spend, and spend well. Also just heard on the radio driving in to work this morning that the #1 best payback for remodel is....

Wait for it...

... a new front door!

Apparently first impressions are VERY important. Our place will stand out from the rest, without question.

Wait until they see the koi pond off the back deck. They'll be blown away.
 
Wow! That's all a lot of work ... and expense. You're going to move out after doing all that? Did you get appraiser/realtor advice in making those remodel calls? My house needs some work, and we're probably going to downsize in a few years. I'm trying to figure that piece out. What makes sense to do, and what not? Plus, should we do it right now and enjoy it for a few years or wait till the last year. Any experience/advice you can share would be much appreciated John.

I just bought a house and here's my take, from the buyer's perspective. Keep in mind I'm a single male buyer. Every house I looked at that had been recently remodeled I ultimately passed up because something, or many things, were done in a way I wasn't particularly fond of...and I know I wouldn't want to "redo" a recent remodel. I DID however, like the fact that those remodeled homes were selling for much less than it would cost me to buy a fixer upper and pay for someone to do the actual fixing up. Meaning the previous owner wasn't getting a dollar for dollar return on the remodel. The exceptions I saw to that were houses with recently updated mechanicals (furnace, A/C, roof, WINDOWS) and maaaaybe kitchen/bath updates. Of course there were also houses that were in dire need of work selling rock bottom, I didn't touch those.

So...in my market, which has 80-100 year old homes, many first-time buyers that are young professional couples with 1-2 children (which may be totally different than other markets), I determined it would be better financially and emotionally to sell a house needing work rather than one recently remodeled.

What I ultimately did: Bought a house with recent mechanical updates that the inspector described as "dated but maintained". I plan to continue to "maintain" the house well and slowly update the kitchen/bath (with better quality stuff...not just newer and continue improving landscaping (I think this helped move a lot of houses I looked at) and eventually put a new roof on (with solar). I looked at dozens of houses and this is what I found would get me the best "bang for my buck" in terms of enjoyment, minimal headaches and 5-10 year investment appreciation.
 
Do it now and enjoy some of it. Wished we hadn't waited.

Yes we got advice from our real estate pro. We hope to get top dollar. Kitchen and baths are where you want to spend, and spend well. Also just heard on the radio driving in to work this morning that the #1 best payback for remodel is....

Wait for it...

... a new front door!

Apparently first impressions are VERY important. Our place will stand out from the rest, without question.

Wait until they see the koi pond off the back deck. They'll be blown away.


I'd agree with this. If you are about to sell, don't bother. If you will be there for a bit, do it and enjoy all while have the "slightly dated but well maintained home" for sale. This allows couples that want something nice but don't want the headaches to consider it AND those who will also see "potential" in the things that are most dated. Larger audience is good.

Also agree on the door. I loved seeing a nice door. House I bought had/has a terrible door and getting past that in my mind was VERY difficult. I had to keep reminding myself that a new door can be done relatively cheap.
 
Great advice! Of course every buyer is different. We sold a house about seven years ago with updated kitchen and beautiful landscaping. The buyer wanted a fireplace and a swimming pool. We had both and they walked in and looked at very little else. Ba Boom! Sold! Very little haggling. A lot depends on the neighborhood and what amenities are expected. JMHO
 
I'm retiring may 2nd and the wife and i are downsizing also. our current house is already rented out starting june 1st. my initial plans were to buils a master bed and bath on to the existing 2 bed i bath house to accomodate my mom (83 yrs) moving in with us. we have estimates to get work done with a screen porch also for about $35,000. the delimma is the house only cost $70,000. my son thinks i'm crazy to put that into the house. thye house is valued at $102,000 already. its located in wilmington,nc 15 minutes from wrightsville beach. my wife is thinking forget about the addition and have mom move into spare bedroom and just build porch. what do you savvy homeowners think about this situation??? thanks and lets make some money. john
 
Near the beach you say, for $102k?! I might need to look at relocating.

Uggghhh. How is it that I live in a place termed "rest of U.S." from GSAs perspective but a decent 2br/1bath, 80 year old starter home, needing work on 0.1 acre lot still costs $200-300K? I didn't know a person could buy a lot these days for $70k!!

I guess it really depends on what buyers in your area are looking for. If they have kids and expect 3br/3ba then you'd be smart to do it. If 2br/2ba is the norm you'd be fine to leave it alone. Namely, if you want the space for mom it's best to do what will make you comfortable.
 
Do it now and enjoy some of it. Wished we hadn't waited.

Yes we got advice from our real estate pro. We hope to get top dollar. Kitchen and baths are where you want to spend, and spend well. Also just heard on the radio driving in to work this morning that the #1 best payback for remodel is....

Wait for it...

... a new front door!

Apparently first impressions are VERY important. Our place will stand out from the rest, without question.

Wait until they see the koi pond off the back deck. They'll be blown away.

Thanks John. Yeah, my wife has been saying that all along. She doesn't want to remodel/fix things and then sell/move like we did last time around. She's the boss! Haha. So we'll probably start sooner than later -- some new windows and new french doors this summer, oh, and the roof. One of the baths for sure after that. ... That probably explains why I've seen so many new front doors around here the last couple years! Thanks for the tips,.
 
Mapper cracks me up. That is exactly how I felt when I found a 3000sf with an inground pool on a 1/2 acre lot for 153k 12 years ago...after having lived with Chicago prices for 5 years and getting a transfer.

And to Guchi ....As for your remodel...I would go with more quotes. 30g for a screened in porch?!?!?! Unless you are building it out of cedar and brass (and it is huge) that price is way out of line. I'm in rural Illinois and I put on a 20' x 16' sunroom, 16' x 16' composite deck and poured a 20' x 18' stamped patio for less than that! If you are calling a popular contractor/builder in your area that may be your problem. Try to figure out who that company subcontracts with and you will find your good workers for a much better price.
 
I just bought a house and here's my take, from the buyer's perspective. Keep in mind I'm a single male buyer. Every house I looked at that had been recently remodeled I ultimately passed up because something, or many things, were done in a way I wasn't particularly fond of...and I know I wouldn't want to "redo" a recent remodel. I DID however, like the fact that those remodeled homes were selling for much less than it would cost me to buy a fixer upper and pay for someone to do the actual fixing up. Meaning the previous owner wasn't getting a dollar for dollar return on the remodel. The exceptions I saw to that were houses with recently updated mechanicals (furnace, A/C, roof, WINDOWS) and maaaaybe kitchen/bath updates. Of course there were also houses that were in dire need of work selling rock bottom, I didn't touch those.

So...in my market, which has 80-100 year old homes, many first-time buyers that are young professional couples with 1-2 children (which may be totally different than other markets), I determined it would be better financially and emotionally to sell a house needing work rather than one recently remodeled.

What I ultimately did: Bought a house with recent mechanical updates that the inspector described as "dated but maintained". I plan to continue to "maintain" the house well and slowly update the kitchen/bath (with better quality stuff...not just newer and continue improving landscaping (I think this helped move a lot of houses I looked at) and eventually put a new roof on (with solar). I looked at dozens of houses and this is what I found would get me the best "bang for my buck" in terms of enjoyment, minimal headaches and 5-10 year investment appreciation.

Hey, some good thoughts there Mapper. Yep, windows, doors, new roof this year. Got to take care of the envelope first for sure. We may just go with new cabinet face frames and doors when we get around to the kitchen. We're kind of in a good situation with our lot being a bigger seller than the house itself -- up on a hill overlooking a bay and the ocean in background, lots of privacy, so it could well be that remodeling isn't so important for us dollar-wise. We'll get realtor input on that before pumping a lot of dollars into the house interior.

John -- didn't mean to hijack your threads ... thanks again!
 
Yeah, we didn't want to have to spend all this money to sell the house, but the real estate agents and stager advised getting all these things done, so we hope to have it all set for the next owners to be able to just move in and get their family settled in right away. There are some people who are looking for fixer uppers, and there are a lot of others who just want to move in and be done with it. We're catering to the latter. Also, after 20+ years of living there, a lot of the items we're replacing/fixing were pretty much worn out, so it was time to get 'em fixed either way.

We raised our three kids there, and it was a great house, but now the kids are grown and gone, so it's just the two of us, and we no longer need a giant mega-house. A large house is great, except that it's expensive to heat and cool, and the upkeep is more work and mo money. So we hope to find a nice quiet little place for just the two of us to settle into.
 
Sure appears to me that the intermediate downtrend in metals and miners has taken it's course. The downtrend line was broken on Friday, 3/28, and a double bottom was put in place yesterday. I bought a chunk of JNUG on Friday at 22.33. Up a little over 13% today as I type this. I think we'll have a good run up in the next few days, as the trend lines, oscillators, and moving averages are all changing direction to the upside. You want to be long NUGT or JNUG for this up cycle.

Good luck!
 
mcqlives
you misunderstood the 30k was for masterbedroom and master bath and screened porch. i'm still on the fence about having that addition built. but someone i know brought up a good point. i planned to build the addition and make handicap accesible for 83 yr mom who will be moving in. she is in good shape now but planning for down the road. she was telling me that this type of house is in high demand. and looking even further down the road to when i get old i would have room to house a stay in nurse to take care of the wife and i. just a thought. sorry for hijack mjr but you started it first heehee.

Mapper cracks me up. That is exactly how I felt when I found a 3000sf with an inground pool on a 1/2 acre lot for 153k 12 years ago...after having lived with Chicago prices for 5 years and getting a transfer.

And to Guchi ....As for your remodel...I would go with more quotes. 30g for a screened in porch?!?!?! Unless you are building it out of cedar and brass (and it is huge) that price is way out of line. I'm in rural Illinois and I put on a 20' x 16' sunroom, 16' x 16' composite deck and poured a 20' x 18' stamped patio for less than that! If you are calling a popular contractor/builder in your area that may be your problem. Try to figure out who that company subcontracts with and you will find your good workers for a much better price.
 
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