patrick.net

trollololololololol.

Doesn't seem like a troll and his other comments seem pretty normal.

If I was paying $1600 a month in rent and could buy the same thing for 240K, had the down and confidence in employment, and it was a house and area I liked, I'd buy it.

I'm a little confused by the troll comment. Am I off topic, or is this an inappropriate post?

I haven't commented much, but I check the p.net news 3-4 times a week. Sheesh.

Make sure you have it inspected if this is your first house, don't want to move in and find it's one of those house that makes you sick, which is pretty rare anyways. If you plan on staying awhile, ten or more years, it should be a go. Got any cash?, got good credit?, cash talks, show them your credit worthiness, tell them you'll pay for the lawyer on both sides of the deal, $600 apiece, and closing costs, Should be less than commissions. Go get your house!

everything says

Make sure you have it inspected if this is your first house, don't want to move in and find it's one of those house that makes you sick, which is pretty rare anyways. If you plan on staying awhile, ten or more years, it should be a go. Got any cash?, got good credit?, cash talks, show them your credit worthiness, tell them you'll pay for the lawyer on both sides of the deal, $600 apiece, and closing costs, Should be less than commissions. Go get your house!

The owners have already signed a contract with a realtor and they're unwilling to budge on that point.
Have some cash, will be using IRA money for down. 10 years may be a stretch, but I'm guessing at least 5-7 more years.
I'm thinking that we're looking at ZIRP and QE to inifinity. So I'll be paying back in dollars that are worth a fraction of what they are today.

Before moving my kids into the Denver metro area I would take a serious look at the plutonium contamination from the Rocky Flats nuclear bomb factory. Fires in 1957 and 1969 sent plumes of plutonium smoke over Denver.

Here is a map from the 1957 fire's plume:
http://www.cdphe.state.co.us/rf/charta.htm

Also, you may want to listen to this interview.
http://www.npr.org/2012/06/12/154839592/under-the-nuclear-shadow-of-colorados-rocky-flats

Those areas in red should be prime real-estate. Think of all the tomacco you could grow there! You'd be rich!

Calculate your mortgage here:
http://patrick.net/housing/mortgage_calculator.php

Check the value:
http://patrick.net/housing/calculator.php

At the end it is a personal decision, but paying interest to the bank with a 4% down loan... that's just screwing up in my opinion. If you can pay all cash you'd save a lot.

FortWayne says

Calculate your mortgage here:

http://patrick.net/housing/mortgage_calculator.php

Check the value:

http://patrick.net/housing/calculator.php

At the end it is a personal decision, but paying interest to the bank with a 4% down loan... that's just screwing up in my opinion. If you can pay all cash you'd save a lot.

Freedom 1789-2012

Agreed that paying cash would be the best way to go and avoid debt completely, but the only significant asset I have is an IRA and some silver bullion.
I can't help but think that the value of the dollar will continue to decline at an accelerating rate. I'm planning on putting the difference between rent and mortgage into physical precious metals which I think will continue to increase in value. My thinking is that in 5 years silver and gold will be widely used as money and I'll be able to pay the mortgage off early.