Introducing the new ICHQ

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Comments

  • RyderRyder Kalamazoo, Mi

    You found a vanity you liked!? Praise be!!!!

  • NiGHTSNiGHTS San Diego

    600+% gainz bro

  • LincLinc Bard Detroit

    @NiGHTS said:
    600+% gainz bro

    It's so complicated. The amount of money I'll have spent on the house by this fall is the same as the 80% usable value being extracted in the mortgage, so if you're balancing valuation against cost, I'm break even. On the other hand, how do you value the historic restoration-grade fixes being done and just living here? I dunno. I've got a helluva spreadsheet I'm gonna make some graphs out of some time soon.

    BobbyDigiBetsyDZanthianGHoosdum
  • Mt_GoatMt_Goat Head Cheezy Knob Pflugerville (north of Austin)

    How much does the new valuation increase the taxes? Or is there a break on that for being a historical property?

  • LincLinc Bard Detroit

    @Mt_Goat said:
    How much does the new valuation increase the taxes? Or is there a break on that for being a historical property?

    Thankfully the city's valuation is separate, but Detroit has had an issue with over-assessed tax bills for a while now. The only things that trigger them to reassess is the house being sold or a city-wide reassessment. We just had the latter for the first time in decades, and my bill went down ~10% (and they'd knocked ~5% off previously as part of a blanket re-calibration prior to the formal assessments being done).

    SonorousMt_GoatGarg
  • NiGHTSNiGHTS San Diego
    edited June 2017

    @Linc said:

    @NiGHTS said:
    600+% gainz bro

    It's so complicated. The amount of money I'll have spent on the house by this fall is the same as the 80% usable value being extracted in the mortgage, so if you're balancing valuation against cost, I'm break even. On the other hand, how do you value the historic restoration-grade fixes being done and just living here? I dunno. I've got a helluva spreadsheet I'm gonna make some graphs out of some time soon.

    No you're not, you're at +60K equity silly guy

  • LincLinc Bard Detroit

    @NiGHTS said:
    No you're not, you're at +60K equity silly guy

    I bought the house for 45K cash which I did not include in my break-even calculation. So +15K? Except that's about how much Icrontic chipped in so I feel like calling that gained equity is tenuous at best.

  • Mt_GoatMt_Goat Head Cheezy Knob Pflugerville (north of Austin)
    edited June 2017

    @Linc said:

    @Mt_Goat said:
    How much does the new valuation increase the taxes? Or is there a break on that for being a historical property?

    Thankfully the city's valuation is separate, but Detroit has had an issue with over-assessed tax bills for a while now. The only things that trigger them to reassess is the house being sold or a city-wide reassessment. We just had the latter for the first time in decades, and my bill went down ~10% (and they'd knocked ~5% off previously as part of a blanket re-calibration prior to the formal assessments being done).

    That's a lot better than around here. You need a permit for everything and after you are done the city sends an appraiser. The only saving grace is that all appraisals are dampened by in neighborhood comps, so you don't shoot up sky high.

  • NiGHTSNiGHTS San Diego
    edited June 2017

    ~43% then

    (aka GREAT)

  • RyanFodderRyanFodder Detroit, MI

    I'd be interested in a walk through of your math.

  • SazbeanSazbean Paladins. Lawful good & violent about it. Detroit, MI

    @Linc said:
    It was a shrewd investment by @Straight_Man since that humble laundry room will shortly become... a tap room.

    Since I am currently refinancing the mortgage (again) for one last piggybank-smashing round of renovations, I will officially declare "last call forever" on sponsoring a room at ICHQ:

    • Backstairs landing ($450 - prominent & popular space between hallway & kitchen - about to be REPAINTED in 2017!)
    • Stained glass window ($350 - plaque would go just below - about to be REINSTALLED in 2017!)
    • Turret walkout ($200 - yes, you can stand in the ICHQ crows nest - NEWLY REBUILT in 2016!)

    We're five years in! In five more will you wish you'd snagged a room "back in the day"? ;)

    Where's my plaque for the hallway? hmmm? :D

  • LincLinc Bard Detroit

    @Sazbean said:
    Where's my plaque for the hallway? hmmm? :D

    Only wanna do 1 additional batch. When that plaque goes up, it means no more sponsoring rooms.

  • HumerusMegHumerusMeg Something, something medical professional, Fitness bitch, Sexy chef Austin
    edited June 2017

    @Linc said:
    It was a shrewd investment by @Straight_Man since that humble laundry room will shortly become... a tap room.

    Since I am currently refinancing the mortgage (again) for one last piggybank-smashing round of renovations, I will officially declare "last call forever" on sponsoring a room at ICHQ:

    • Backstairs landing ($450 - prominent & popular space between hallway & kitchen - about to be REPAINTED in 2017!)
    • Stained glass window ($350 - plaque would go just below - about to be REINSTALLED in 2017!)
    • Turret walkout ($200 - yes, you can stand in the ICHQ crows nest - NEWLY REBUILT in 2016!)

    We're five years in! In five more will you wish you'd snagged a room "back in the day"? ;)

    @Linc

    @Levex and myself want the window

    Where can I send funds?

  • LincLinc Bard Detroit

    @HumerusMeg said:
    @Levex and myself want the window

    Where can I send funds?

    It just got scooped up a couple days ago, sorry! I hadn't updated here; out of town on a business trip til tomorrow. Backstair landing & turret walkout still available.

  • LevexLevex Animal Whisperer Iowa
    edited June 2017

    @Linc said:

    @HumerusMeg said:
    @Levex and myself want the window

    Where can I send funds?

    It just got scooped up a couple days ago, sorry! I hadn't updated here; out of town on a business trip til tomorrow. Backstair landing & turret walkout still available.

    Probably stairs. One of us will let you know. ?

  • HumerusMegHumerusMeg Something, something medical professional, Fitness bitch, Sexy chef Austin

    @Linc we will take the stairs. Where can I send funds?!

  • LincLinc Bard Detroit

    @HumerusMeg said:
    @Linc we will take the stairs. Where can I send funds?!

    destruction at gmail - thanks!

    Levex
  • LincLinc Bard Detroit

    The very last sponsorship opportunity in the house:

    • Turret walkout ($200 - the newly rebuilt ICHQ crows nest)

    Expo is the deadline.

  • GargGarg Purveyor of Lincoln Nightmares

    @Linc said:
    The very last sponsorship opportunity in the house:

    • Turret walkout ($200 - the newly rebuilt ICHQ crows nest)

    Expo is the deadline.

    If it isn't claimed by Expo, then I'll organize a cash pot at Expo so it can be sponsored by "Icrontic"

    BuddyJAlexDeGruvenLincLevex
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