Half off house in Vegas!

saschaduran · August 2009

Ha...I still feel dumb! So is the benefit to me that I would pay the taxes, yet be able to itemize them come tax time?

mrsLesGrossman · August 2009

No, no! The benefit would be that your house is sold and not sitting on the market. You will get it sold a lot faster if you can find a real estate investor looking for a 1031 exchange. There is no tax benefit for you, just for the person that buys your place because they have recently sold a similar place.

saschaduran · August 2009

Oh ok...geez I am dense today. Obviously real estate is not my forte. It's weird how much random information and different subjects I can absorb, then for some reason real estate always goes over my head. Thanks for the tip...I will find out more on it.

mrsLesGrossman · August 2009

Don't worry, most people don't know about this. My brain is a random stuff sponge. No one else in my office even knew we had a 1031 department until I introduced them to my office.

saschaduran · August 2009

I wish my brain absorbed that much. It used to. In high school a teacher asked if I had a photographic memory because my test answers would almost be verbatim from the book. Sadly, my memory and quickness is not like it used to be at all.

mrsLesGrossman · August 2009

You don't want it sometimes it can be annoying. People say I'm a know it all because I have the right answer a lot. If you know the right answer why keep it to yourself?

mocha beans · August 2009

Very awesome house! Gotta love the shoes, obviously! Now I want a pink closet, I wonder if FI will be okay with that...

saschaduran · August 2009

Just give him one too so he won't be jealous.

mocha beans · August 2009

Ha, I wish we each had our own closet! I suppose I could make the second bedroom into a closet, but then we'd have no place for anyone to sleep but us, which would be unfortunate.

buttaflai · August 2009

Aww, I'm late, but what a cute place! And those shoes...

bbyckes · August 2009

Love it! It feels so warm and inviting! Please come decorate for me. I'll throw in a free trip to the ATL!

danieliza1127 · August 2009

Your bathroom is set up exactly like ours. My H wants to take out the tub and make the shower a bigger one with dual shower heads but I debate whether that would put off potential buyers in the future. Maybe painting it and decorating it like you did is the way to go for now! :)Good luck on the short sale!

Soon-to-be Mrs. Vogt · August 2009

Love it Sascha! So pretty and warm. And I see a lot of the stuff I have in my house, so of course you have fantastic taste

BecW2be · August 2009

What a beautiful house! You have fantastic taste. It makes me all itchy to get into FI's house to paint and fix up now!

saschaduran · August 2009

Thanks everyone:) Cacoffer...I have never been to Atlanta and have always wanted to go!

BecW2be · August 2009

I love your shoe collection picture too! I got really snockered one night and my friends convinced me to pile all my shoes up and sit in the middle of them for pics. They were organized by color in the bottom of my closet, and it took me FOREVER to put them all back the next day. I need to find that photo. It was hilarious!

vallyhoo · August 2009

Pics or it didn't happen... but I'm sure it happened so I would love to see that pic!

MsGamblingGirl · August 2009

Does it not occur to you that people doing short sales and abandoning houses is what's wrong with this country? NO personal accountability?Why should you stay in a house worth 1/2 of what you paid for it? Because you agreed to... with a contract.. that's why! Funny that people can afford expensive weddings but not afford to pay the mortgage payments they agreed to pay with a contract.

goheels05 · August 2009

Gambling, you have no idea what you are talking about.short sale =/= to "abandoning" your mortgage. You're thinking of foreclosure. HTH.

nhelman · August 2009

Ugh. I really hate stupid people.

nhelman · August 2009

P.S. for what it's worth I thought 1031 when I saw it...I feel like Vegas or the general area would be a good place to make a 1031 happen. Then again I also just spent the past three hours interviewing at a real estate transaction firm so this might be why I'm on my toes. I adore your house, I enjoy Vegas but only for vacay :-) Not sure I could live the fast life there! I mostly adore your shoes and think I should take a picture like that one day...

saschaduran · August 2009

Actually gambling, the issue is not can I AFFORD my house, it is that it was a poor investment. I could continue to pay $3000 a month for the next 10-15 years and still be upside down. You can ask any financial adviser out there and they would tell you it is financially a bad idea to keep it. Maybe it is not the most ethical decision, but it is the best decision financially. People buy homes to earn equity and so they will appreciate. In my lifetime I have never seen property go down, especially over 50%. I never would have bought if I knew this would happen. If you add the 60k I put down, the 90k plus I have paid in mortgage payments and the 200K the bank will get when I sell, than the bank is actually making money on the mortgage I had. I am not one of these people that got a no money down loan. I have taken a huge personal loss and I have tried for months to get the bank to at least lower my interest rate to 5%, to make my payment worth taking the risk that my house may take decades to earn a single dollar in equity. But the banks refuse to work with me. The banks will not work with people because they are enjoying their bailout money. I do not feel sorry for the banks. And does signing a contract mean I cannot sell my house? Because I am pretty sure most people do not keep their houses for 30 years. A smart person knows when it is time to throw in the chips. You are a gambler, you should know that. And my wedding was completely within my means.

Half off house in Vegas!

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