I know Salty and I have our differences but I will try to help with your research.

I want to go back a little further though to show the natural progression of what happened in my case.

1994 - When I went to school at ARC I lived in a 2 bedroom apartment just across the street for $450 a month (2 bed room 1 bath) - the low income apartments went for $150 for a 1 bed room so we had a lot of problems with break-ins

1995 - I moved to the other side, Data Dr. (just S. of HWY. 50 Rancho Cordova), into a 1 bed 1 bath for $595. This was a big step up, other then the fact that there was barbed wire at the top of the fence to keep the hood on the other side out rent would be incressed $50 every 6 months

1997 - I stayed in the same apartment complex but upgraded to a 3 bedroom for what seemed to be my growing family and that cost $995 + $50 for a garage.........

1999 - My wife and I decided it would be more cost effective to purchase a house that would gain in value instead of tossing it to the apartment owners. Besides at this point rent was $1245 and the houses in the market where only in the 130's

we bought our first house a 30 year old home, 1500sq/ft, 2/3 bedroom, 2 bath, 2 car garage track home in Citrus Heights between the 80 freeway and the Roseville railroad tracks at this point in time I would say we bought the most house we could buy 35% of income to debt. 130k

2003 - My job really took off and we expanded to more places, giving me an oppertunity to relocate. With the large rise in home prices in the Sacramento market I decided to see what was up in Reno, I kind of saw it as if Bay Area ppl. want to live in Sac. then I could just jump over the hill to Reno, its a way better drive then the Bay Area guys still and the market in Reno still looked like the market did in 1999 down in Sac. We put the house on the market for 209k and sold it in 3 weeks. So I packed up the family and we bought a 2000 sq/ft, 4 bed, 2 bath, 3 car house in Spanish Springs for the 209k

I had no debt's at the time so I was able to put all the extra money down on the house and with the better income level I was at I bought at an income to debt of only 25%.

2005 - Reno seems to have rised just as did the Sac market and I cant keep my wife from thinking about those other places back East, that are still in the 150's at this point we would have no mortgage with one more move. That would put a lot of money in my pocket for green fees

I hope this helps with your research

 

amen to that.

 

We refinanced our house, and the title company goofed and took my fiance off the title (ibcommentsabout"whoops"). The property tax assessor saw that as a change of ownership. I had to write a letter to them to get them not to reassess the damn house :|