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My First Place (HGTV)


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#1

queasy

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Posted Apr 30, 2007 @ 9:43 AM

I swear there was a thread for this but can't for the life of me find it.

Anyway, they've apparently re-tooled this show so that most of the ep is now dedicated to the HOs going through the loan process and looking for houses rather than decorating. The show does give them some furniture and fixes up a room at the end, but the final reveal is just a few minutes at the end. I think they should have changed the title because the show is so different now, but again in this life, nobody asked me.

The couple last night had four kids and were really sweet. It was touching to see them so excited about finding a place they could afford. Also, this ep was filmed in the Denver area and it's always fun for me to see places I know. As usual on real estate shows these days, the HOs went with 100% financing, but at least they got a good mortgage rate.

If anyone else saw it, what did you think about the husband? He looked so young I thought he was one of the kids at first, but they have a teenage daughter so I guess he's older than he looks. Or else the older ones could be hers from another relationship. He was really happy to get his man space in the double garage.

Edited by queasy, Apr 30, 2007 @ 7:30 PM.

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#2

BambiJo

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Posted May 2, 2007 @ 3:01 PM

Was it the same show? I have My First Place on Tivo, but I saw this episode and thought there was a new series by the same name! It's also very similar to My First House on TLC. Weird. They definitely should have changed the name.
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#3

queasy

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Posted May 8, 2007 @ 7:55 AM

I don't know why a young single person would want to buy a large tract house in the suburbs, but maybe this guy was just planning ahead. Or I guess it could just be that it's a better overall investment. The HO did seem pretty stable and mature for his age.

Even though the guy went with an 80/20 mortgage, at least he got a good interest rate and said he didn't have a lot of debt. He did seem to be one of the few first-time buyers where I wasn't left wondering how long before the bankruptcy.

Edited by queasy, May 8, 2007 @ 9:40 AM.

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#4

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Posted May 8, 2007 @ 8:39 AM

That house seemed a bit big for the price. I wonder if it was very far outside of Atlanta. Aside from the bathtub issue, I hope there wasn't anything else lurking in those walls. I liked the outside of the house a lot. It is almost exactly like "My First Home", except here they don't tell you what the person makes or their credit score. I did think it was a bit misleading that they didn't mention taxes and insurance when they talked about the mortgage payment. Yeah its $1150 but when you add the taxes and insurance it could be around $1400.
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#5

queasy

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Posted May 14, 2007 @ 8:10 AM

I really liked the college professor but thought her realtor didn't do very well by her. For a first-time buyer, the realtor should have given her an estimated monthly payment breakdown, including taxes and insurance, for houses at each price level before they even started looking. How is it that important things like monthly payments were never discussed?

This is my bias speaking, but I was groaning that the buyer ultimately went with the townhouse. That HOA fee may not seem like much now, but it gets really aggravating to pay it every month. The stupid thing's not even tax deductable. I hate HOA fees. She could have had the first house she liked for almost the same monthly payment with a nice yard and no shared walls. She might have been leery of yard work and snow shoveling, but it's really not that bad.

I thought the "conservatory" was godawful in the place she choose. Really, the whole townhouse gave me a bad 70s vibe. But the buyer loved it and was happy, so good for her. If she hadn't been set on such a large place, she could have got a nice 2/2 townhouse much closer to town. It wasn't clear whether she worked in Aurora or not. I got the impression that she was at Auraria Campus for some reason.
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#6

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Posted May 14, 2007 @ 10:41 AM

I didn't like that townhouse either. I wonder if she just settled because she was tired of looking. At her closing, I couldn't take my eyes off that very,very small top she had on. It looked like the one button she had holding the top closed was going to explose at any minute and put someone's eye out.

Edited by foodistheenemy, May 14, 2007 @ 10:46 AM.

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#7

queasy

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Posted May 14, 2007 @ 11:49 AM

Oh, right! She was all about the tight tops for sure.

How old do you think she was? She referred to herself as a "young buyer" a couple of times, but I would've put her at mid-30s. (Not that 35 is old, but I wouldn't exactly refer to it as young.)
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#8

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Posted May 14, 2007 @ 12:54 PM

I thought she was in her early-mid thirties but weight will make you look older.

Having on a tight top is one thing. Having on a top that's 3 sizes too small is another. I wonder if this show is like House Hunters, where as the buyers have already bought their homes?
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#9

queasy

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Posted May 28, 2007 @ 2:00 PM

The engaged couple in Sunday's episode seemed really nice but I had to chuckle a little at how they scampered away from their first offer for a nice house in their budget because the supports under the back deck were 36" apart instead of 24". Or whatever it was.

Didn't the sellers agree to fix the other five things on the inspection list? I know first-time buyers can get a little freaked over minor things, but that seemed a bit ridiculous even for buyer's remorse.

The house they ended up with was larger but once again I was wincing at how high their mortgage is going to be. Ah, well. At least they were cheerfully realistic about scaling down their wedding plans in order to afford the house. It didn't seem like they got as much free furniture as some of the other HOs, though. Was the living room carpet new, too?
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#10

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Posted May 28, 2007 @ 4:02 PM

That deck was rotting, too. The sellers did agree to fix the five other things on the list, though. I would have been interested to hear if the sellers had any problem selling that house to anyone else. I did think it was a good idea that they got their house first and then decided how much they'd have to spend on their wedding.
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#11

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Posted Jul 2, 2007 @ 6:16 AM

New episode last night? Woman from Atlanta worked in radio marketing and lived with her mother. She was in search of her first townhome. As she put it, she'd only get a house when she was married. I hate that she perpetuated the steorotype that single woman should be happy paying HOA and sharing walls. Whatever.

She only looked at new construction and they all looked the same to me, aside from the one she chose which seemed to have more carpeting than hardwood floors. In any case, she seemed to get screwed with the financing. The builder was offering a special ($10k in upgrades for using their in-house lender, plus a low good faith deposit, $50 and a plasma TV). She acted like she knew there had to be a catch, but then plowed ahead and signed up. We found out the catch in the end. Her payment is $1600 for a 40 year mortgage at 7% on a loan for $197.5k. Yikes! I have a 15 year mortgage on roughly the same amount for $100 less per month! Why would anyone do a 40 year mortgage? Poor woman will be paying for 20 years before she has any significant equity...

Edited by MonyMony, Jul 2, 2007 @ 6:19 AM.

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#12

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Posted Jul 2, 2007 @ 8:52 AM

Her payment is $1600 for a 40 year mortgage at 7% on a loan for $197.5k. Yikes!


My mouth fell open when I saw what her payments were nevermind the 40 year mortgage. Doesn't she realize that her 40 year mortgage will include her paying for those appliances that will be long gone beforehand? I didn't know 40 year mortgages even existed.

For someone who was suppose to be so savvy, and owned an Infinite, didn't she have any serious money to put down on that townhouse?

She would have been better off staying at home with Mom. I thought her Mom was a sweet lady.
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#13

queasy

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Posted Jul 2, 2007 @ 11:27 AM

I know! I was shaking my head at the TV and tsk-tsking like a crazy person. Didn't her mom or realtor or anyone tell her that 7% is very high right now? I suspect I know whose idea that 40-year mortgage was, too. Ouch.

Oh, well. She isn't planning to stay there once she finds a guy who'll mow the lawn, anyway. <rolls eyes>

I will say that she and her mom both seemed very nice. HGTV could have bothered to arrange her free furniture for her. Maybe this was one of the first episodes filmed or something? I've seen some eps where they actually decorate the room, including painting, and others where the stuff was just dumped in the garage.
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#14

Anna2

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Posted Jul 2, 2007 @ 12:31 PM

As someone who is looking for her first place, I pay close attention to these shows, and it broke my heart to see what she could get for her money in that area. In my area, that would buy small and old. I, too, choked at the 7% mortgage, and wondered what kind of credit history she had. Did they ever explain how she took care of the problems the inspector uncovered? And how did they get that furniture in the garage without her hearing anything? And how long was she in the house before she discovered it? Still, I appreciate and enjoy the show and wish TLC would bring back My First Home. I like this format much better than decorating, which has become tiresome overall to me.
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#15

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Posted Jul 3, 2007 @ 8:26 AM

And how did they get that furniture in the garage without her hearing anything? And how long was she in the house before she discovered it?


Fake, fake, totally laughable fake. It just so happens that Mom and Daughter just finish making a lasagna when pesto chango, a dining room set is in her garage. So lame.
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#16

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Posted Jul 4, 2007 @ 10:57 AM

Isn't My First Place the show where they redecorate a room for someone who just bought their first place? Have they just changed the show to actually go through the buying process?
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#17

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Posted Jul 4, 2007 @ 12:12 PM

From the HGTV site:

Now there's a My First Place for everyone! Hunting for your first home? Tune in Sunday nights, 10:30pm e/p. Need to make your first place feel like home? Tune in 4pm e/p weekdays.

Our new, reformatted My First Place (starting with the 600s) follows the journey of real-life first-time buyers through the trials and tribulations of finding and financing their first place.


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#18

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Posted Jul 4, 2007 @ 1:46 PM

When I saw how much the Atlanta woman's house note (and interest rate) were, I immediately thought they must have somehow rolled the 10k (and the plasma) into the loan? My best friend paid 225k for her house with a cheaper note! And I would think that with the 40 year mortgage, her payments would have been less than that.
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#19

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Posted Jul 9, 2007 @ 10:46 AM

I liked the couple on last night's episode. I thought it was nice to see a couple actually communicate with each other, and make sure the other was okay with the overall decision. AND when there were major problems with the house they were willing to walk away from it, and only came back to it with the concessions from the sellers. It was also good that they investigated some costs before just accepting the sellers concessions.

Even though they ended up with a house that was going to cost them more than they wanted, they appeared to have thought it out quite a bit and were prepared to do what they needed to do to make it work--2nd job, etc.
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#20

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Posted Jul 9, 2007 @ 11:12 AM

No home is worth having to get a second job in order to make the payments. IMO, the couple should have either kept on looking or put a bid on the first house, which was the husband's first choice to begin with.
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#21

Alexa

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Posted Jul 9, 2007 @ 3:17 PM

I agree, irishlulu, but overall what I was referring to is that they seemed fairly realistic about their prospects--and the consequences of getting too much house for their income. I personally would not want to get an extra job for a house, nor would I suggest it to anyone else. It is best to get a house you can afford.
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#22

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Posted Jul 9, 2007 @ 5:21 PM

Lame show with lousy editing. They used the same master bedroom for two houses last night. I thought I was hallucinating until I replayed the first house and sure enough there was the same bedroom with the red rose art and bed tray.
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#23

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Posted Jul 10, 2007 @ 12:25 AM

I thought this whole situation was rather sad. I'm glad they had the will to walk away before the concessions, but they should have kept walking. It was bad enough that both had to be working to support the house, but take on another job? What happens when they want to start a family? Will the husband take a 2nd job? Will they have to put the kid in daycare at 6 weeks because they need money so badly? If they decide they both have to continue working to support the house, do they have any idea how much daycare is going to cost for an infant?? What, god forbid, if one of them becomes disabled - even a 6 month disability from a car accident could ruin them if they are cutting it so close. And, despite the 3 jobs, I be there won't be much in the ole savings account for emergencies. What if they start repairs and things are more expensive than the initial estimates?

I could only think how sad this situation was, and how it could get sadder, all because of a house they can't afford.
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#24

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Posted Jul 10, 2007 @ 9:27 PM

I quite agree, aliyameadow. I've seen several different episodes of this show. The thing that surprises me is the fact that no one seems to have money saved for a down payment. This week's couple took out an 80% first mortgage and a 15% second mortgage, so they only had 5% saved for a down payment. My sister lives in the Indianapolis area and was telling me that it has a high foreclosure rate due to the no money down and adjustable rate mortgage incentives that builders are offering buyers. It's sad to think of so many dreams shattered by getting in over your head with a mortgage.

Edited by ally170, Jul 10, 2007 @ 9:28 PM.

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#25

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Posted Jul 11, 2007 @ 6:54 AM

Regarding the down payment....I agree it is much better to have one than not, but with housing prices increasing so fast there for a while people sometimes have to get in the market while they can still afford the houses on the market. The market has slowed some now, so there isn't as much pressure to get in this moment, but a few years back prices were continually rising. For some people, they could afford the monthly payments on the house and get a decent fixed loan with no money down--had they waited a few years to save on a down payment the house price could have risen quite a bit. So, the down payment they were saving for would have only paid for the increase in the house price.

However to do the above, I do think it is important to get a decent mortgage; not one of the crazy mortgages like interest only, etc. If you can't afford a house with a basic fixed mortgage, then I would agree it is best to stay out of the housing market for the moment.

As for the couple on the other night, their house was in their price range, so I don't think they went too far over their heads. The second job she was getting could very well have been a temporary idea to eliminate some of the stress she was feeling about buying a house. Even if it seems affordable, buying a house can feel overwhelming at first.
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#26

queasy

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Posted Jul 23, 2007 @ 9:21 AM

I felt so bad for the woman on last night's show! I actually raised my mental eyebrows a bit during her introduction when they said she was a personal assistant for a radio personality: "Wow, that doesn't sound like a very secure job." Her resume showed she has an MBA, though, so hopefully she found another job soon.

She was so delighted with her new house, too. What a shame.
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#27

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Posted Jul 23, 2007 @ 10:23 AM

I agree. My heart went out to her. The home she wanted was really nice.
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#28

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Posted Jul 23, 2007 @ 2:18 PM

I was just coming to post about how bad I felt for last night's wanna-be HO. She was just so excited about that house. And, after all the searching, she'd found something that was perfect for her. Then to lose it in the end. Way too sad.

I was actually surprised they went ahead with an ep that didn't have a happy ending. Can you imagine them doing this on House Hunters? But it's one of the realities of trying to buy a home. Sometimes, things just don't work out.

Although, like she said, it was better she got laid off before she'd actually bought the home. If she'd bought it, then lost her job, she would've been in much worse shape.
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#29

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Posted Jul 23, 2007 @ 6:56 PM

I had actually liked the house and the price. I was pretty jealous and felt bad for her. I too was surpised that HGTV would show an unhappy ending. Like the previous poster said that things don't always don't work out. Hopefully, she found a job and a house.
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#30

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Posted Jul 24, 2007 @ 11:42 AM

I have seen ONE episode of HH where the couple didn't get the house, or maybe two. In the one I'm thinking of, the couple was always outbid. But this week's was very sad; I was rooting for her. Does anyone know the location of this episode?
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