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CHIEF

Certifiably Surly
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Everything posted by CHIEF

  1. When did zero cost refinancing begin? It seems that is where the disconnect with people in their 60's and 70's lies, or at least the ones in rural areas. Quite a few are land rich, but money poor. They never really looked into refinancing, that seems like an untapped market. A lot of them have a "note" at the land bank, or with Farmer's Credit. They never really looked into mortgage companies. CHIEF
  2. True. I was just using that analogy to show a worst case scenario. But that was exactly what my in-laws did. I know quite a few rural people that bought property around 2000, with interest rates above 6%, that have never moved. They were comfortable with their payment then, and can't be bothered by going through the trouble of refinancing. These folk's daily browsing of the internet is probably about 30 minutes, and refinancing is the last thing on their mind.
  3. Just dehydrate the water, make it into tiny pills. Drive the pills to the drought location throw out a few pills and a few drops of water on them, and "poof" you've made enough water to fill up every lake between Buchanan and Lady Bird. Easy, peasy. CHIEF
  4. On a $350k home at 2.5%, monthly payment is $1382.92, total interest paid, $147,852.33. The same home at 7%, monthly payment is $2328.56, total interest paid, $488,281.14. That is payment only, 30 year fixed with no additional payments. So you basically pay a little under 2.5X the original price of the house. CHIEF
  5. I'm hoping so, but I ran a mortgage amortization on a $350k home last night, and the difference, in payments between a 3.5% loan, and 7% was right at $1k/month. It went from around $1350ish to over $2300, before taxes, PMI, and other escrowed items. I'm not sure we are going to see home prices drop 50%, but who knows. CHIEF
  6. Depends on your market. Ours will slow down, but will probably go from 85% cash buyers to 100%. The 50 year olds will buy the houses of the 70 year olds that are downsizing to the homes owned by the 80 year old folks, that are moving into Assisted Living, or in with their 50 year old children. CHIEF
  7. Here is the old thread you were unable to find, tons of great recommendations and advice. CHIEF
  8. Sundays are fucked. Come back on 281 from Wichita Falls on the way back and hit Herd's in Jacksboro, early, during the week. It's worth altering plans. CHIEF
  9. I've known you for a quarter-century, and never knew this. What an awesome story, and you got a brother out of it. CHIEF
  10. and they will all end up Pink Floyd fans...the end. CHIEF
  11. Congrats Brat that’s a long time. It will be 29 for me this year. 55 years with the same woman is the exception, not the rule. You are both doing something right. CHIEF
  12. I parked my diesel F350 on May 16th, at the shop, it hasn't moved since. CHIEF
  13. We need fossil fuel, and will need it for decades to come. The idea that we can just snap our fingers and be off of fossil fuels in five or ten years is mind-numbingly stupid. This is a good video that shows that an electric vehicle with the same range as a conventional vehicle (400 miles) has a larger carbon footprint than a conventional vehicle. A conventional vehicle starts off with a conventional footprint of about six tons. A Tesla starts out at 12 tons. CHIEF
  14. When the bottom dropped out in the mid-eighties, it was just cheaper to buy from OPEC. Fracing technology was no where near what it is today, or even a decade ago. I remember my Dad being absolutely livid, that the Railroad Commission was forcing operators in the Permian to plug thousands of wells in the Spraberry and Dean formations. He said it would never be economical to drill those formations again. He was right, based on 1980's technology. It wasn't really feasible to spend R&D money until around 2003-2004 when the Barnett Shale, and robust gas prices came along. That is when technology really took off and new drilling rigs, multi-stage fracing, steerable drill bits, and all of the supporting infrastructure really took off. The Permian is where companies go to have the greatest success rate. There are tens of thousands of well logs, from the 1930's to the present for the geologists, and engineers to work off of. The whole basin is basically mapped for a 100% success rate. That is what you are seeing at the end of that graph. As long as prices support it, that map will continue the same trajectory, or possibly rise even faster. It is beyond time to build some new refineries to match what can be produced. Ones that can refine WTI. CHIEF
  15. Happened to a buddy of mine from college. Even if he picked up a listing, his broker requires that the listing is hers, and it is up to her agents to find a buyer. That's a crock of shit. Buyer agents are dropping like flies. Luckily, he owns three daycare centers and just bought a stone and rock supply business. He was hitting me up to use him whenever I go back to building and I found out he was not doing real estate at this time. Listing agents are still feasting, and buyer agents are starving, and have been for over a year. CHIEF
  16. She is the kinda bitch that would use your taint to light a match after she covered you in Crisco. Mean as a snake, sweet as sugar. CHIEF
  17. On a little more serious note, going through the Suez Canal, cruising off the coast of Somalia to Kenya with 600 potential hostages that their parents would beg, borrow, and steal seven figures to get back, does seem like a pirate's jackpot. CHIEF
  18. TREC doesn't require an inspection to be shared with the seller, since it was the buyer that purchased the inspection. They usually do if they plan on negotiating. However, if there are multiple expense items that need to be fixed, a buyer can just opt out of the contract during the option period, and not state a reason. Since the seller hasn't seen the report, he doesn't have to disclose things where he is unaware. It is up to the next inspector to find those items. CHIEF
  19. You are in California, correct? CHIEF
  20. An old house? Ain't nobody going to wave an inspection. You read the inspection, that now has to be disclosed, you were notified. The best thing to do, is not have the inspection report sent to you, but you are past that now. Fix the problem, take the loss, and put it back on the market. Lesson learned. Hopefully the land is valuable enough to absorb the cost of the loss of equity on the house. Sorry. CHIEF
  21. I've parked our Ranger at the gate of our deer lease, and averaged over 100 mph driving the wife's car to the gate. It is 210 miles, three and a half hours in my F350 with gooseneck, two hours in her car. Always felt safe. CHIEF
  22. I'm Jonesing to hunt so bad hunt, I started on page one, and read the entirety of this thread over the last eight to ten hours today. A lot of good memories were made, and a lot of great advice given. CHIEF
  23. So far we have only used it in the river bottom. The owner of Beltec is on the lease, so we have his skid steer and any attachment that his company makes. He has a t-post sized rock drill, but no one has built feeder pens where it is rocky. The only place we have considered that was rocky, is up on an oil pipeline in the southeast corner of the lease. I don't think my posthole driver could get it done. CHIEF
  24. Yep, my mother sends me the closing price daily with money signs. Closed at 9.14/mcf last night. CHIEF
  25. I'm also of the belief, that rural highways in desolate areas, should have no speed limit. It should be perfectly legal to drive as fast as you want on Hwy. 114 between Benjamin and Lubbock. The lanes are wide, there are passing lanes. I've been passed by cars I know were going at least 120, and it never felt unsafe, or scary. I mean it happens all the time on the Autobahn in Germany. CHIEF
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