"basskisser" wrote in message
ups.com...

NOYB wrote:
"basskisser" wrote in message
oups.com...

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under $100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

"Harry Krause" wrote in message
. ..
ACP wrote:
"basskisser" wrote in message
ups.com...
NOYB wrote:
"basskisser" wrote in message
oups.com...
Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?
No. A 2000 wouldn't be covered unless it was valued under $100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.




No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.
Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!
My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of
a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.
But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.


This is kind of silly. Most people do not have their homes appraised
unless there is a reason to do so, e.g., preparation for a sale, a
re-finance, argument with assessor, increasing amount of insurance, et
cetera. It usually costs $300 to $500 for a professional appraisal, at
least it does around here (Maryland).

As for NOYB's mortage, my recollection is that he has stated he has an
interest-only mortgage on his house. Beyond that, the specifics are none
of my business.

I believe, interest only-mortgages are going to be a big time problem for a
LOT of people in this country.

ACP wrote:
"basskisser" wrote in message
ups.com...

NOYB wrote:
"basskisser" wrote in message
oups.com...

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under $100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

Haven't been around long, huh? He's proud of his interest only mortgage!

ACP wrote:
"Harry Krause" wrote in message
. ..
ACP wrote:
"basskisser" wrote in message
ups.com...
NOYB wrote:
"basskisser" wrote in message
oups.com...
Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?
No. A 2000 wouldn't be covered unless it was valued under $100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.




No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.
Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!
My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of
a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.
But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.


This is kind of silly. Most people do not have their homes appraised
unless there is a reason to do so, e.g., preparation for a sale, a
re-finance, argument with assessor, increasing amount of insurance, et
cetera. It usually costs $300 to $500 for a professional appraisal, at
least it does around here (Maryland).

As for NOYB's mortage, my recollection is that he has stated he has an
interest-only mortgage on his house. Beyond that, the specifics are none
of my business.

I believe, interest only-mortgages are going to be a big time problem for a
LOT of people in this country.

Yes, now that the bubble has burst in a lot of markets.

On 25 Aug 2006 05:05:13 -0700, "basskisser" wrote:


JohnH wrote:
On 24 Aug 2006 07:41:02 -0700, "basskisser" wrote:


JohnH wrote:
On 24 Aug 2006 07:13:21 -0700, "basskisser" wrote:


Gene wrote:
On Thu, 24 Aug 2006 06:40:35 GMT, "Calif Bill"
wrote:

Gas may also do it. Took the boat out today, and filled up at $2.92 gallon
at Costco and put $99 in the boat. $3.19 for diesel and $75 for that this
evening.


You may want to look a bit further for the real problem:

as of yesterday, 87 octane at Sam's and Costco was $2.61
--


Anybody notice that as of today, the amount of oil coming out of Prudoe
Bay has been cut in half AGAIN? Sure seems a tad odd that when the
price per barrel starts coming down, a new problem arises to push it
back up!

http://edition.cnn.com/2006/BUSINESS...p.pipeline.ap/

Well, I wasn't going boating this week anyway. By next week it'll be fixed
and the price will be back to normal.
--
So, how come you're not out there fishing??

Spending too much time trying to learn how to hit a golf ball. I'll be
moving the boat down to the Rappahannock River in a couple weeks so the
kids can use it also.
--
******************************************
***** Hope your day is great! *****
******************************************

John

I'm hauling to Lake Hartwell this weekend for some striper fishing.

When you get back, tell us how it went. Leave out the politics though!

And...good luck!
--
******************************************
***** Hope your day is great! *****
******************************************

John

On 25 Aug 2006 05:07:50 -0700, "basskisser" wrote:


NOYB wrote:
"basskisser" wrote in message
oups.com...

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now impossible
to
insure a boat over 30' long valued at more than $100,000 if the boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under $100,000. A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay $150/month
storage fee. Even if I pulled the boat, where would I put it? And I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in March,
2004. The house next to mine is the same size, but sits on the end of a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

If he's been in the place three years or more, chances are good that he's
way ahead of the game, and good for him!

Here's a site for a quick appraisal. It's been pretty accurate when
compared to what's been selling around here.

http://www.zillow.com/
--
******************************************
***** Hope your day is great! *****
******************************************

John

"basskisser" wrote in message
ps.com...

ACP wrote:
"basskisser" wrote in message
ups.com...

NOYB wrote:
"basskisser" wrote in message
oups.com...

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are
uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to
haul
the boat twice a season for a wash and wax. It also doubles as
a
winter storage trailer - just put it on, park it and shrink
wrap.

The only problem is if I wanted to take it from the yard, I
would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a
storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under
$100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it?
And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6"
wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an
interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of
a
canal (less desirable) and is listed for $1.59 million. They won't
get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

Haven't been around long, huh? He's proud of his interest only mortgage!


It doesn't adjust for another 2 1/2 years. I'll have my business loan paid
off by then, and have another $6,000/month ($4500/month after taxes) to pay
for any rate adjustment.

But keep in mind that I had a rate of 4.25% locked for 5 years. If I had a
done a conventional 30 year loan at the time, the rate was around 6%. I
will have saved over $55,000 in interest for the first 5 years of living in
my house. Even if rates bump 2 points in 2009, and another 2 points in
2010, it would take until 2012 or 2013 until I'd have spent the same amount
that I would have spent on a conventional 30 year mortgage from the get-go.

"basskisser" wrote in message
oups.com...

ACP wrote:
"Harry Krause" wrote in message
. ..
ACP wrote:
"basskisser" wrote in message
ups.com...
NOYB wrote:
"basskisser" wrote in message
oups.com...
Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are
uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to
haul
the boat twice a season for a wash and wax. It also doubles as
a
winter storage trailer - just put it on, park it and shrink
wrap.

The only problem is if I wanted to take it from the yard, I
would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a
storm
approached or whatever.

If that boat was a, say 2000, would it be covered?
No. A 2000 wouldn't be covered unless it was valued under
$100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it?
And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6"
wide.




No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.
Bwaaahaa!! He got hosed in the housing bubble. Along with an
interest
only loan!
My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end
of
a
canal (less desirable) and is listed for $1.59 million. They won't
get
that, but if they lowered it to $1.2 million it would sell tomorrow.
But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate
you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us
have
mortgages.


This is kind of silly. Most people do not have their homes appraised
unless there is a reason to do so, e.g., preparation for a sale, a
re-finance, argument with assessor, increasing amount of insurance, et
cetera. It usually costs $300 to $500 for a professional appraisal, at
least it does around here (Maryland).

As for NOYB's mortage, my recollection is that he has stated he has an
interest-only mortgage on his house. Beyond that, the specifics are
none
of my business.

I believe, interest only-mortgages are going to be a big time problem for
a
LOT of people in this country.

Yes, now that the bubble has burst in a lot of markets.


The bubble has not burst. The bubble may not be inflating, but the bubble
is still big.

At it's peak, Zillow had my house priced at $1.56 million (earlier this
year). Now, Zillow says it's worth $1.373 million.

I paid $825k in 3/04. Even in a worst-case scenario, I have three to four
hundred thousand more in equity in my home right now than when I bought it
in March 2004.

If I didn't get an interest-only loan at the time, I couldn't have bought my
house. Today, I could afford to pay $825k with a conventional fixed
mortgage...but the selling price would be $500,000 higher and I wouldn't
have been able to buy it.

I looked at my interest-only loan as a way to lock in 2004's price for 5
years down the road. When my rate adjusts, I simply "re-buy" my house for
$825k...even though it will be worth considerably more than that.




"JohnH" wrote in message
...
On 25 Aug 2006 05:07:50 -0700, "basskisser" wrote:


NOYB wrote:
"basskisser" wrote in message
oups.com...

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to
haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a
storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under
$100,000. A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

If he's been in the place three years or more, chances are good that he's
way ahead of the game, and good for him!

Here's a site for a quick appraisal. It's been pretty accurate when
compared to what's been selling around here.

http://www.zillow.com/
--
******************************************
***** Hope your day is great! *****
******************************************

John

On Fri, 25 Aug 2006 18:45:59 GMT, "NOYB" wrote:

At it's peak, Zillow had my house priced at $1.56 million (earlier this
year). Now, Zillow says it's worth $1.373 million.

I paid $825k in 3/04. Even in a worst-case scenario, I have three to four
hundred thousand more in equity in my home right now than when I bought it
in March 2004.

If I didn't get an interest-only loan at the time, I couldn't have bought my
house. Today, I could afford to pay $825k with a conventional fixed
mortgage...but the selling price would be $500,000 higher and I wouldn't
have been able to buy it.

I looked at my interest-only loan as a way to lock in 2004's price for 5
years down the road. When my rate adjusts, I simply "re-buy" my house for
$825k...even though it will be worth considerably more than that.


You did good!

I say that even though we're going round and round with a dentist now.
--
******************************************
***** Hope your day is great! *****
******************************************

John