Daily Archives: January 23, 2012

The Five Year Rule for Buying a House | Bedford Corners Realtor

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My wife and I have been renting a sub 1000 sq ft apartment for $1500 a month. That’s a lot for so little but it was necessary. When we got married we worked 100 miles apart from each other and moved to the middle which just so happened to be smack dab in the heart of downtown Houston. You can’t rent cheaply there. Even moving a couple miles either direction would have added to an already horrible drive since traffic would have factored in much higher for one of us.

Fast forward to today. For some stupid reason we had $32K in cc debt that we shouldn’t have had. We paid it off in a year and the money started rolling in. I got a job much closer that will allow us to move out to the suburbs to keep each of our drives around 30 miles each. That’s not bad for Houston. Some people in other parts of the country don’t understand how this city and it’s jobs are spread out. We started saving money. Our credit scores are in the mid to high 700′s. We need to move but the question is whether or not renting for another year is going to do anything for us that buying now wouldn’t.

We are currently trying to buy a house. We qualified for a $700K loan and are trying to purchase a $232K home on a 15 year loan at a 3.5% interest rate. That’s near laughable! With such a short term loan and low interest rate we aren’t putting much money down. As little as possible which for us is a lowly 3.5%. We’ll still hit the equity mark of 20% in that house in only 4 years and we still aren’t going to pay the minimums. Our plan is to pay it off in around 10 years. Yes our out of pocket per month will rise over what we pay now for a number or reasons. We’ve got high property taxes, utilities will go up and maintenance is our responsibility. Those will never change regardless of when we buy a house but the odds of an interest rate staying going even lower or staying here forever is pretty slim. It may not move for a little while but why risk it? The house is also 3X the size of our rental. We plan to stay here until our kids graduate high school. We don’t have any kids right now. The house is 18 years old in an established neighborhood and prices in this part of the country are fairly stable. We aren’t California where houses even today cost 3X to 4X more than they would cost here which is ridiculous.

I don’t only look at time as the main criteria to decide if renting is a better option but also interest, condition of the property, how much you have in the bank for a rainy day, as well as your personal comfort level and space requirements. We could certainly buy a house the size of our rental and come out way ahead financially but we’d probably be mugged walking to the car. If we tried to rent a house the size that was are wanting to buy we’d pay far more. In the end though the math told us that for our personal use making the assumption that the house never increases in value that we’d need just over 4 years to “break even” on it so I’d say not too shabby in relation to this article.

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via moneyning.com

Fig & Olive Heats Up Westchester with Winter Prix Fixe Menu – Bronxville-Eastchester, NY Patch

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WESTCHESTER, N.Y. (January 18, 2012) – Fig & Olive, one of New York’s premier restaurants, announced its Westchester location will offer the same prix fixe menu as its three New York City restaurants during a winter celebration of fine dining. Running from January 16 to February 10, this special culinary experience presents world-class dining at a discounted price.

Fig & Olive patrons are invited to feast on a variety of esteemed dishes influenced by the Riviera and Costal regions of France, Italy and Spain. The three-course prix fixe menu is priced at $24.07 for lunch and $35 for dinner, weekdays only. Fig & Olive is located in the Vernon Hills Shopping Center, 696 White Plains Road, Scarsdale, N.Y. Reservations required at 914-725-2900 or www.figandolive.com.

“We are so excited to bring this special menu to our Westchester location, and we look forward to serving new and loyal customers alike,” said Ludo Barras, Fig & Olive marketing director. “The menu includes many of our signature dishes – and of course a few surprises!”

The flavorful experience begins with an assortment of plates perfect for sharing. A Crostini Tasting includes a chef’s selection of up to six varieties, including mushroom, truffle, artichoke and parmesan; gorgonzola, onion and cremini; or prosciutto, ricotta, fig, olive and walnuts. Starters also feature Provencal Carrot and Thyme Soup, Beef Carpaccio and Yellow Fin Tuna Carpaccio.

For lunch, treat yourself to succulent dishes such as a Grilled Thyme Chicken Paillard; Salmon a la Andalucia; or a new menu addition, the Fig & Olive Painted Hill’s Farm Burger, which highlights the best grass-fed beef, crisp pancetta and pickled onions on a thyme brioche roll.

For a more indulgent dinner entrée, choose from the Fig & Olive Tajne, a free-range chicken marinated with Moroccan spices; Rosemary Lamb Chops; Penne Funghi Tartufo in a white truffle olive oil; or Provence Chicken Paillard. All prepared with the freshest ingredients and tastiest olive oils, these dishes will instantly transport your palate abroad.

And don’t forget to add some the wine! Fig & Olive’s wine list includes over 30 selections from across France, Italy and Spain that are offered by the glass or bottle along with a selection of champagne. (Alcohol not included in fixed price.)

End this delightful culinary experience on a sweet note by sampling the desserts: a Chocolate Pot De Crème, which has crunchy praline financiers and vanilla cream; or the Dessert “Crostini,” which has amarena cherry, mascarpone and pistachio shortbread with micro-basil.

Fig & Olive is located in the Vernon Hills Shopping Center, 696 White Plains Road, Scarsdale, N.Y. The three-course prix fixe menu costs $24.07 for lunch and $35 for dinner, weekdays only. Lunch: 12pm – 3:30pm. Dinner: 5pm – 10pm (M-TH), 5pm – 11pm (F). Reservations required. For more information, please visit www.figandolive.com or call 914-725-2900.

For more information or to schedule interviews, please contact Diana Costello of Co-Communications at 914-666-0066 or diana@cocommunications.com.

via bronxville.patch.com