--- In AsburyPark@yahoogroups.com, cbrianwatkins@... wrote:
>
> Those homes are condemned, well a lot of them are at least
>
>
No. The feds spent about $100 million rehabbing them all - from top to bottom.
THEN knocked them down.
There was that "fear" of over crowded schools or creating a community of
"affordable housing".
People still don't understand the words "affordable housing" vs "low income
housing".
My sister is finally putting an offer on a house in OT. She's 41.
The house is going for $215 and we put an offer in lower. She HAS to get in
lower to be able to "afford" to live there.
Single, no kids and has a good job with the county for just above $50k year.
Since the banks are no longer giving out loans just because - you more or less
have to have 20% down (so with it all, you need $45,000 down on a $200,000
purchase).
That leaves a mortgage of around $145,000. So the payment of $900 perm
month....then add in property taxes - close to $500 per month - add in the
basics - sewer tax of $40 month, water, gas, electric.
Then all the rest - food, gas, medical, dental,pet food, clothing, phone and
tv.
She had her list and kept it real limited.
Add to that she has a near perfect credit score. That's her.
But what if she asked....what if something happens what if..the kitchen is old,
the roof if old, the walls are ugly, the driveway is cracked, the windows are
old... But I told her, it has 3 bedrooms and room you can get 4.
I also told if it doesn't work out, she can always rent it out as a section 8
rental. Easily get $1800 month.
So that's the agony of trying to BUY OWN AND LOVE and AFFORD a home here in NJ,
while you're employed with perfect credit.
Welcome to NJ.
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