Dream House or Nightmare?

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  • Posted By: BuilderBob @ 10/16/2007 8:58:30 PM

    Did anyone notice how they never refer to the structure as a home. Instead it's a "house". Seems to me like poor Roger tried to jump into the Florida real estate investment game and got caught out (along wth thousands of other unwitting souls). If he was in it for the long run, and they built themselves a "home" then the return on investment would not be an issue. This smells of a quick real estate "flip" and the investor would have been better off putting his money elsewhere.

    • Posted By: roadrunner07 @ 10/18/2007 6:19:13 PM

      Ya know it's amazing how these idiots want people to feel sorry for them when he probably spent more on his stupid kitchen then most people can even afford on an entire home!!!! I bought my home almost 11 years ago and have to agree with some of the comments on here, he built a "house" and thats all it will ever be. My "Home" is a very modest small 1200sf track home, but when I found it, I told myself that I would appretiate it the rest of my life!!! Knowbody goes "home" anymore, it's just a place to lay there head at night, show off to friends and neighbors they don't even know. People need to remember why they have what they have in the first place....it's a blessing from your creator, he owns it all anyway! Scott

    • Posted By: roadrunner07 @ 10/18/2007 5:24:01 PM

      Too bad more people don't think with there hearts and not there wallets!!!I totally agree with the comment on this one. When I bought my "HOME" I told myself...this is where I can live the rest of my life! It's just a little, modest 1200sf track home, I love it, I've been there 11 years now and not enough people come "home" anymore, there just lookin for that quick buck! And if this guy was interested in where he is instead of where he can go maybe he could see what a blessing he has right under his nose. I hate to say it though...people driven by the all mighty dollar loose sence of what life is really ALL about, when money runs your entire life and "status quoe" it will always come to an end! It all belongs to our creator anyways...he doesn't judge you by the size of your home, the money in your bank, the cost of your car or the name on your cloths, he judges by whats in your heart!

  • Posted By: Growthmotivator @ 10/18/2007 6:09:38 PM

    I agree with roadrunner's comment; it is a "house". Temporary satifiaction. Sure, there is nothing wrong with wanting a return on your investment, but a house can't be looked at in the same way a return on some "stock" is. Impersonal, UNLESS of course you ARE a real estate inverstor. Zero "emotion" makes sense then. If Roger loves the house, and his wife is happy, kiss each other good night and go to bed.

  • Posted By: Growthmotivator @ 10/18/2007 6:06:15 PM

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  • Posted By: Growthmotivator @ 10/18/2007 6:03:11 PM

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  • Posted By: chrisfred @ 10/18/2007 5:44:50 PM

    So why are the Elliotts obsessing about the value of their home after only a year of living in it? They should relax and enjoy it. If they can afford to pay for it than what's the problem? The fact that they live in an upscale gated community is probably to their advantage in the current market. In our community the upper end homes are still being built and still being sold. It's all the people who are in the sub-prime market and "just had to have that fancy house now" and paid too much for it that need to worry. Sorry, I have no sympathy for any of them including the Elliots at this time. People need to stop panicking and thinking about what their going to get out of some thing. The market will improve. It always has. Maybe greed won't be the sounding charge in the next upsurge in real estate. Lets hope not.

  • Posted By: eyebrow @ 10/18/2007 5:23:31 PM

    nobody likes to loose money or see the value of their homes decrease. That's just the way we are. The key here is the word "investment". An "investment" can, by deffinition, increase in value, but it can also decrease. There is always a risk - reward relationship to "investments". The higher the potential reward, the greater the risk, and that fact can't be avoided. It's just that with the time of increasing home values, many forgot about the risk factor, and unfortuantly, many are now experiencing that risk factor.

  • Posted By: rogerally @ 10/17/2007 9:07:47 AM

    By Roger - Several of you lack grace and mercy as well as made incorrect assumptions. The assumption most of you made was that I'm in it for the short term. Not so. We plan to live here a long time. But if we have to sink 100k of interest, taxes and insurance into it every three years, that's a huge carrying cost on top of negative appreciation. The second assumption most of you made was that I would only be happy if we made double digit returns. Again, not true. This is a question of negative returns vs. any return at all. I would be happy with a 1% return! Nor do I expect any bailout. What I was hoping for was an intelligent conversation with others to help me grow and learn as hindsight is 20/20 vision. The author of this story, Dan McGinn did exactly that. And I thanked him. Now, it is true, my wife is comparatively rich. That makes me very thankful and blessed. Most of you, if you knew me, would not begrudge me this. I've served the Lord all my life faithfully and have always been as poor as a church mouse. Now, God pours out His grace on me and all I'm trying to do is be the best steward I can be. I challenge you to come up with better posts. Instead of casting stones in the dark, try to shed some light and add to the lessons learned. And ask yourself, what would you do?

    • Posted By: keepingmy$accessable @ 10/18/2007 4:00:46 PM

      You know what Roger you're right, I'm sorry. I am a christian woman and I should not have lambasted you the way that I did. GOD forgive me, I just couldn't help myself.

      • Posted By: rowzeer625 @ 10/18/2007 5:15:30 PM

        So you served the Lord gracefully and felt you deserved a reward for it? Serving is it's own reward. Is the grace God poured on YOU "your wife's" inheritance? You made a mistake in judgment, we've all done that. You got greedy there is no other way to put it. You could have built 2 modest homes and sold one for profit but you wanted this huge home. Being poor all of your life should have made you more cautious.

      • Posted By: rowzeer625 @ 10/18/2007 5:06:12 PM

        If you really served the lord faithfully why didn't you donate a portion of the money or as another poster said build two modest homes and rent one out to a need family

    • Posted By: LorenzoDeMedici @ 10/18/2007 1:56:27 PM

      "I've served the Lord all my life faithfully and have always been as poor as a church mouse. Now, God pours out His grace on me and all I'm trying to do is be the best steward I can be. "

      Wellllll, Lord giveth and Lord taketh away. Stop complaining. Be thankful to Lord that He didn't put you in a poor-house.

      • Posted By: lcdchope @ 10/18/2007 2:25:06 PM

        Well Roger, when you receieve your 1% equity in your home, make sure you tithe 10% of it to the Church.

    • Posted By: Justmethinking @ 10/17/2007 12:01:38 PM

      Roger, maybe you should read the article... Where it says: "Roger's problem is different. After living through the real-estate boom, he's grown to expect his home to provide more than simple shelter or a nice place to throw a dinner party. He wants it to provide a return on his and his wife's investment--preferably one that's measured in double digits." This is where everyone is getting the idea that you wanted a short term, high yield investment, not a home. Dan may have written you a great article that you really like, but it makes you seem a little greedy. Maybe you are not. You mention God, so I am certain that you know that only He and you know the answer to that for certain. I would like to mention that if this home and your wife's 'riches' were truly a "blessing", it would shine glory on God, not on you or even on your family. Are you using it to glorify Him? Last, if your wife is truly rich, then why bother worrying about the small amount of money this home could bring you when you sell it? Go back to this wonderful home and pray to God to know how to use it and your weath to glorify Him. "How many of you can add one day to your lives by worrying"? I bet you know that answer, son...

      • Posted By: rogerally @ 10/17/2007 1:59:10 PM

        Thank you to "Justmethinking". From Roger. And I do know the answer. And also thank you to akdreaming. I have so much to be thankful for and to give thanks to God for.

  • Posted By: jgaynor @ 10/18/2007 5:06:07 PM

    To each their own. Roger is fine in my book. 99.9% of you have missed a major point.

    I think these selfish, presumptuous comments are ridiculous. You do no know these people to criticize and yet, you complain-making fun of their dilemma? Everything in life is an investment! Think about it! Being broke varies on different levels. As for those claiming to be God's spokesperson (and this coming from a Born Again Christian) stop the get off the self-righteous soapbox. Faith pleases God, God gets glory from our obedience, willingness to trust, believe, and making our dreams happen in life! What Rogers did was just that. How hypocritical.... We praise God from whom all blessings flow and then you put the "man" down for using the blessing? Why don???t you just knock God for providing it? What if it were a sweepstakes prize? Doesn't matter where the money came from... It was and still is a blessing. I didn't even know (until this article) of such roofs and windows, etc. Thank you, Roger for installing them? I'm encouraged not to build cheaply. Don't like it. Know what it's like to own a home poorly built and wouldn't wish it on anyone. In addition, the comment about being ahead of the Joneses...Who are they and why are they called the Joneses? Roger and his wife are merely exhibiting what 99.9% of us on this panel would welcome having the choice of doing!

    Jealousy and envy running through this panel is hilarious! So many of the critics will blow their opportunity. This is a good season to invest! Oh, did I say that? Oh yes I did. It is a great season to invest in a house and if you so desire, make it a home! Ta-ta for now and Abundant Blessings to you.... http://jgaynor.qhealthzone.com

  • Posted By: NCETR @ 10/18/2007 4:58:22 PM

    There have always been ups and downs in the housing market. It like everything else, yes including the global weather patterns, are cyclical. However, this time around it's a little different. There is the element of instant gratification and plain old American greed as a driving force. there were too many people who thought they could 'flip this house' and make exhorbitant profits at the expense of others who were struggling to purchase a HOME versus an "investment". Now MANY of those suffering are the "investors" who are losing their shirt.. unfortunately, their initial greed is now their downfall and they're bringing too many others downhill with them.

  • Posted By: fuentes7 @ 10/18/2007 4:44:06 PM

    Wahhh Wahhh Wahhh, my $750,000 home isn't going to give me the return on investment I was expecting in the next few years. GET OVER IT! The Elliots have only lived in this home for a little over a year. If Mr. Elliot had any sense about his job, being a contractor, he would have known the only way for the housing market to go from the time he started building his house was down. Thats plain common sense, not to mention it was all over the news if you paid any sort of attention. Wait it out a few years, the market will become a sellers market again and you can get the money your so worried about losing today. At least your not one of the people in New Orleans who has lost everything they have worked for their whole lives, and their homeowners insurance has turned the cold shoulder. Thank your creator you have a roof over your head and quit being gluttonous. Who ever wrote this article, has nothing better to do.

    • Posted By: stlouisgirl @ 10/18/2007 4:49:24 PM

      agreed completely on the point about the people in New Orleans

  • Posted By: terri murnane @ 10/18/2007 4:49:08 PM

    I would feel lucky to have a home like yours to raise are six children in. We live in a mobile home, and not worried about how much money we will lose or gain. We are happy to just provide for our children and know that we are giving them a good upbring. To worry about money and what your going to make with your investments thats a stressful life,I would rather avoid. Be happy with what you have.

  • Posted By: ohmyheck @ 10/18/2007 3:44:42 PM

    Is this for real? There are people in this country, in addition to countries around the world, who go to bed hungry and sleep without ANY roof over their heads. This is the perfect example of rich Americans thinking of no one but themselves and caring about little else than how to get richer. If the Elliotts are unhappy with the size of the house anyway, sell it, move into a smaller one, and spend some time feeding homeless people. Suddenly their "nightmare" won't seem quite so bad. This article makes me sick.

    • Posted By: rogerally @ 10/18/2007 4:48:07 PM

      I actually spent one year feeding homeless people every Sunday night. Have you?

  • Posted By: stlouisgirl @ 10/18/2007 4:47:40 PM

    i have no sympathy for someone who built an overly expensive home and is now whining about "not getting their investment back if they sell". There are people out there with homes that probably only cost what these peoples custom kitchen cost! Surely there could be a better example of problems in the housing market than this.

  • Posted By: firuela @ 10/18/2007 3:45:28 PM

    Sounds like Roger wanted to have the best house in the neighborhood and he just went ahead and built it . Its nice to be ahead of the Jones'. However, as a builder, he should have knowm that it is not wise to build one of the most expensive houses in the neighborhood. Even in a good housing market this is not a good idea. This is pretty basic stuff - Real Estate 101. Roger is right. It was a terrible decision.

    • Posted By: rogerally @ 10/18/2007 4:46:38 PM

      House down the street is on the market for 1.2 million. Another assumption. You know that that means do you? Other houses are selling for 500k now. So. I'm in the middle.

  • Posted By: corybant @ 10/18/2007 4:42:15 PM

    Mr. Elliott has discovered his get rich scheme is no different than all the others that have captivated the impatient, breathless wannabe moguls in this world. He's unhappy living a charmed, affluent life because his bank account isn't growing fast enough to suit his fanciful goals. He needs to remember the King MIdas parable, quit whining about his so-called misfortune and acknowledge he already has what's truly important in life. Shheesh, whatta peurile way to assess his circumstances.

  • Posted By: Nessa89vmb @ 10/18/2007 4:41:59 PM

    I understand why he would be worried because in my eyes a home is a Investment for the future and a shelter for your family now. He is right though. We dont know him. I understand why people would get upset about this story because it sounds greedy. But all of you need to open your eyes and see that other people have different situations and different lives....we dont have any room to judge his decisions because we have no knowledge of his background...he was concerned with his home and published this story to get attention to the problem in order to come up with either a solutiuon or some advice on how to handle it. I think he should just enjoy his home and family and when the time comes that he wants to sell then hopefully the market will be better for him.....Good Luck

  • Posted By: ghw329 @ 10/18/2007 4:02:22 PM

    Roger it's your money .. use it wisely... no one here has the right to tell you .. you shouldn't enjoy the fruits of your labor... that's up to you.
    NOW having said that .. Don't panic.. I've seen the value of homes rise and fall.. many times over the years.. hang on and keep it for your retirement if that's what you've planned.Keep savings going.. do use an IRA account as well.. more plans are better for you as you age and leave your work behind.. social security isn't to be planned as a living account..it won't cover your needs ... plan on a retirement that is safe ..but will grow ...along as you grow older..it's going to happen you know.Be greatful for your family .. home and friends.. your health..
    You didn't build this house for anyone who has commented.. it's all yours.. as well as the payments.. not everyone wants a lovely home .. at the expense of everything else.. others do.. it's all up to them...
    Don't spend your retirement educating your children ... they can manage that on their own.. YOU don't owe that to them..if you can afford it then do by all means.. We did pay for our daughters college.. and her Law School degree...( she is an attorney now.).never to replace the money we took out to cover both..
    THEN
    .. just as hubby was ready to retire on his 70th birthday we got bad news.. he had a brain tumor that was cancer.. we knew from the beginning he would not be here long.. we made the decisions we needed to make .. I'm now alone 3 yrs yesterday..age 67.... make your retirement plans .. just remember they don't always work out as we had planned..more than likely yours will.. so plan for it.
    Enjoy your home .. you've earned it.!!!... make no apologizes...
    Georgia

    • Posted By: rogerally @ 10/18/2007 4:41:26 PM

      Sorry to hear about your loss. Hope you have many happy memories. Contact the author and tell him I said to forward my e-mail address to you. I'll try to be a friend and listen.

  • Posted By: terri murnane @ 10/18/2007 4:38:47 PM

    Enter Your Comment

  • Posted By: amused @ 10/18/2007 4:03:09 PM

    Reading through the comments, it is clear that these folks aren't going to get much sympathy. I really don't think they need it...or want it. I know many people, that are in the same mind set as them and they do whine a lot. They have no clue how others live, what abject poverty feels like or looks like. I do. I was on top at 46, homeless at 47 and have worked my way out and at 57have a great job, a condo and a nice car to get me from A to Z. The nightmare is fear of dieing on the street, never being warm, wanting a real meal that looked like food. The dream house is one where you can sleep without fear, has real plumbing and kitchen with food in it. Prayer and hard work provided these for me and I don't worry about making money off them.

    • Posted By: rogerally @ 10/18/2007 4:38:40 PM

      Been there, done that too. I was not always so fortunate.

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