• Trouble logging in? Send us a message with your username and/or email address for help.
New posts

Miss Kitty

Meow
Jun 10, 2005
47,017
1,131
69
Re: $$$$ in the Retreat

Beach Runner said:
I'm teaching a core class and we're doing amortization schedules. Here's the lab assignment:

QUANTITATIVE REASONING
IN-CLASS LAB
AMORTIZATION SCHEDULES
DUE 2/21


You?ve decided to buy your dream house on the beach at the Retreat in Blue Mountain Beach, Florida described at http://www.emeraldcoasttours.com/155weststlucialane/ that sells for $9,900,000. You?ll pay a down payment of 20%. Compute the monthly payment assuming that you take out a 30-year loan at 6.5%. Then construct an amortization table in Excel.

BR...I love this! I have always wished that I had been lucky enough to have a math professor that taught "real life" math!

BR...you need to clean out your PM box!!!!
 

Amp22

Beach Fanatic
Jan 11, 2005
287
7
Re: Highest priced home in SoWal is pending!

Mermaid said:
I wonder who bought it?

It was a couple that already owned a lot in the Retreat but really liked the house. The negotiations were over very quickly, and there was another interested party that was very upset that it sold "out from under them". There is another house in the retreat nearing completion available for $8.5 mil but the other interested party wouldn't even get out of the car to look inside.
 

Mermaid

picky
Aug 11, 2005
7,871
335
Re: Highest priced home in SoWal is pending!

Amp22 said:
It was a couple that already owned a lot in the Retreat but really liked the house. The negotiations were over very quickly, and there was another interested party that was very upset that it sold "out from under them". There is another house in the retreat nearing completion available for $8.5 mil but the other interested party wouldn't even get out of the car to look inside.

Only goes to show--you snooze, you lose. :bang:
 

Paula

Beach Fanatic
Jan 25, 2005
3,747
442
Michigan but someday in SoWal as well
Re: $$$$ in the Retreat

Beach Runner said:
I'm teaching a core class and we're doing amortization schedules. Here's the lab assignment:

QUANTITATIVE REASONING
IN-CLASS LAB
AMORTIZATION SCHEDULES
DUE 2/21


You?ve decided to buy your dream house on the beach at the Retreat in Blue Mountain Beach, Florida described at http://www.emeraldcoasttours.com/155weststlucialane/ that sells for $9,900,000. You?ll pay a down payment of 20%. Compute the monthly payment assuming that you take out a 30-year loan at 6.5%. Then construct an amortization table in Excel.

Nice, Beach Runner. Then you can have students calculate how much they would have to charge renters per week to break even. :rotfl: And what a rental management company would get if they got 20% for owner referrals and 25% for management company referrals.

It's fun to have students think about these things. I wish my professors had given me such interesting questions in my quantitative classes.
 

SGB

Beach Fanatic
Feb 11, 2005
1,039
182
South Walton
Re: $$$$ in the Retreat

Beach Runner said:
You?ve decided to buy your dream house on the beach at the Retreat in Blue Mountain Beach, Florida described at http://www.emeraldcoasttours.com/155weststlucialane/ that sells for $9,900,000. You?ll pay a down payment of 20%. Compute the monthly payment assuming that you take out a 30-year loan at 6.5%. Then construct an amortization table in Excel.

There was no need to do the math in this particular case!
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Re: $$$$ in the Retreat

SGB said:
There was no need to do the math in this particular case!
Just think of the bundle they will save by not having to buy insurance that is not available anyway.
 

DBOldford

Beach Fanatic
Jan 25, 2005
990
15
Napa Valley, CA
We are advised that most of the sales of million-+ properties are cash sales, certainly not mortgage properties. Many are 1031 rollover exchange properties, where one has an obligation to reinvest the gains in a 45-day window, or end up paying capital gains taxes. That means 15% of the gains for those of you lucky enough to live in states with no state income tax. If you have a state income tax (we have just under 10% in CA), then you get the privilege of paying that, too. Creates a very strong incentive to shop around for your dream home if you're not already there. I feel certain that this house was a cash sale. SJ, do you know?
 
New posts


Sign Up for SoWal Newsletter