On Nov 8, 2008, at 12:24 PM, Dan M wrote: > I'm not sure when you bought your house, but I originally bought > mine late > in '92, and was able to obtain a beautiful 3000 sq. ft. house in a > desirable > neighborhood with a mortgage payment of about $850/month. I > followed the > market, including refinancing, and was always able to borrow 80% of > appraised value for <7% interest. The terms were always 30 year, > with no > balloon payment. I did take a variable rate on my last loan, but > that was > because I knew I would be selling the house by now. This was all in > the > Houston area.
I was going to say the $850/mo sounded like a pretty amazing deal, but then you mentioned it was in Houston. :) Most of the houses I've seen in Houston have tended to be at least in the 3000 square foot range, mostly on very large lots -- it seems like Houston got pretty well established in the pattern of large single story houses on very large lots some time back and a lot of the housing built before about 20 years ago seems to fit that pattern, so 3000+ square foot houses aren't all that unusual there. (It also takes about forever to get anywhere in Houston because of the long distances you have to drive, in most cases.) Houston just seems to have been built on a theme of large footprints for just about everything. (That whole business of no zoning laws also leads to some weird stuff, compared to other cities, but Houston is kind of unique that way .. lol) _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
