Recent Posts

61

Throw Down the Gauntlet / Re: #StopBurningStuff by 2030 or sooner

« Last post by RWD on Today at 10:33:49 AM »

Had our lowest monthly electric bill since buying our house last year: ~$250. Can't wait for the solar panels to go up...

Just make sure you don't have what happened to us:  our utility put in a smart meter, then the panels went up a few months later, which triggered a second meter replacement (even the utility worker found this to be senseless). It was early April so our meter started running backwards (more solar than consumption)

The 3 very different meter readings in 3 different billing periods confused the system, and we wound up getting billed for several thousand kWh.  It took us a few months and several phone calls to get that sorted out -- thankfully we could show both daily consumption and daily production. 

"No, we didn't consume ~8,000kwh in two months... we overproduced about 1,000, and the meter flipped backwards"

Hopefully that won't be an issue... We had to switch to a ToU meter back in September to qualify for an EVSE rebate. I think we'll likely also get yet another meter when the solar install is complete. I'll definitely be keeping a close eye on it.

62

Real Estate and Landlording / Re: When will homebuyers give up on the idea of being able to refi at a lower rate?

« Last post by glacio09 on Today at 10:29:40 AM »

Boomers won't/can't move, they have the prime "family" houses so they are taken out of the asset mix. So the supply of family houses is reduced and prices do their thing.

This describes my parents.  They have a prime 4 bedroom SFH in one of the most desirable locations, but have zero plans on moving. They have a double-lot (1.5 acres) which they bought before the area was built up, and they had truly exceptional appreciation over the last two decades. As empty-nesters they could comfortably live in something 1/4 the size on 1/10th the land, but they like it and can more than afford to pay people for the maintenance, so they'll probably stay there until they pass away.

So many of my friend's parents are in that position. I also have a few that exasperated the situation. They retired and moved into the massive Mcmansion out in the middle of nowhere on acres of land with all the bedrooms for the grandkids. Now the house is falling apart, they can't do the lawn work, and they either never made friends in the new location, or it's too much work to get to town to see them. Adding insult to injury a lot have, um, interesting perspectives so the grandkids are kept at arm's length.

These are also the people who are so confused why i like my small condo in the city for a fraction of the cost.

63

Taxes / Re: Cap Gains and Depreciation Recapture ?s: selling our rental

« Last post by Mr. Green on Today at 10:26:51 AM »

We are looking at a near identical situation and I have a follow-up question or two. I understand the cost basis and depreciation expense calculations well and have a solid handle on those numbers. What I'm not totally clear on is how improvements are added to basis. We finished the basement of our house, which included a bathroom, while we were living there. We converted the house to a rental later. My understanding is that improvement costs made during our occupancy are added to the total cost basis. Any improvements that have been made since the house was transitioned to a rental were taken in the tax year they were made as a rental expense.

...

Capital improvements (as opposed to repairs or maintenance) during rental are treated the same as capital improvements when you live there: they add to the basis for depreciation.   You should have a running tally each year with any improvements added to the basis and starting their way down the depreciation curve.  If there is an option to expense them entirely in one year, I'm not aware of it.

We've had minimal improvements since the house was converted to a rental. Mainly appliance replacement. In the early ears we set those up on a depreciation schedule but I recently learned that appliances under $2,500 can be taken as an expense in their entirety during the year of replacement so that's what we did last year knowing we were likely going to sell and be unable to take the full deduction of a five year depreciation schedule.

64

Investor Alley / Re: Top is in

« Last post by afuera on Today at 10:08:32 AM »

I just lump sum maxed my rIRA for 2024.

You are all welcome in advance for ensuring the top is in and the downward slide will continue indefinitely!

You got us under 5k.  Keep contributing and we'll really get this Top In!

I still have another rIRA to max so i'll keep doing my part!

65

Off Topic / Re: Electric Cars: Can they finally become popular in the United States?

« Last post by RWD on Today at 10:04:49 AM »

A call to DH at home to ask how - wtf. He did a quick search. The car had locked itself to the charger. All I had to do was turn the car off, and unlock it before unplugging it. We have had the car for a year and a half and didn't know about this feature.

Yeah, that surprised us as well, but is one of those "It's a feature, not a bug"... 
Since cars are left plugged in for extended periods of time, owners wanted to keep others from unplugging their car and plugging in their own.  So now you can lock the charging cable to the car.

ours has three 'modes' :  Never lock charger, Lock until Charging is Complete or Always Lock (need key and car off to unlock).

There has been a number of things like that which surprised us.

I like the way our Polestar handles it. There is an actual unlock button right next to the charger port that only works if it detects the key in your pocket.

66

Throw Down the Gauntlet / Re: #StopBurningStuff by 2030 or sooner

« Last post by nereo on Today at 10:04:19 AM »

Had our lowest monthly electric bill since buying our house last year: ~$250. Can't wait for the solar panels to go up...

Just make sure you don't have what happened to us:  our utility put in a smart meter, then the panels went up a few months later, which triggered a second meter replacement (even the utility worker found this to be senseless). It was early April so our meter started running backwards (more solar than consumption)

The 3 very different meter readings in 3 different billing periods confused the system, and we wound up getting billed for several thousand kWh.  It took us a few months and several phone calls to get that sorted out -- thankfully we could show both daily consumption and daily production. 

"No, we didn't consume ~8,000kwh in two months... we overproduced about 1,000, and the meter flipped backwards"

67

Welcome and General Discussion / Re: 2022 Hyundai Ioniq 5 - Buyback

« Last post by Sandi_k on Today at 10:00:36 AM »

I only looked up CA law but their law is what I judge to be a very generous solution for the customer.  A lemon can be a problem car for which there is no solution or parts available in a relatively short period of time - something like 30 days. Maybe the Bolt lemons were cars unsafe to park near any structures but at one point their were no replacement batteries available?

I'm in Calif and looked up our lemon law and for the Bolts it was the battery so I assumed chevy bought back all those Bolts. So I was wondering if these used Bolts they have on sale at the chevy dealers and listed as lemons have had the batteries replaced.  And if they had to offer lower "lemon" prices even if ok now. Like you I wouldn't have a problem with something like a backup camera - especially if I could fix it myself - but a battery that catches on fire ....nope!

My husband had a 2017 Bolt, and yeah - the battery. He sold his back, and turned around in the same visit and bought a 2021 model, with an improved battery.  If he had kept his old one, they would have had an entire new battery pack installed before being returned to him.

The new one? Same issue. He took it in for a software update, and they software-coded the battery to only charge to 80%, without his knowledge or permission. He was PISSED.

He does like the new Bolt, there are a few nice upgrades - but apparently he won't have the full range back next year, when the car reaches 16k miles of additional driving. (They limited the range for 16,300 miles, and the car never logs the warning, the software override expires, and it will go back to its full range). The problem is that DH only logs 7k miles per year, so it'll be more than 2 years of driving before GM considers the battery "not one of the problem" batteries.

And what had him searching for another EV after that? There is no compensation for the restriction over that 2 year period.

68

Welcome and General Discussion / Re: No Quality EVs Under $60k

« Last post by Jack0Life on Today at 09:59:58 AM »

Model S is the only attractive looking Tesla

from best to worst:

S
Roadster
Semi
X
3 (as bland as can be)
Truck
Y (like driving an egg)

I don't think many people will agree with you.
It's OK to be the exception to the rule.

69

Real Estate and Landlording / Re: When will homebuyers give up on the idea of being able to refi at a lower rate?

« Last post by nereo on Today at 09:58:48 AM »

Boomers won't/can't move, they have the prime "family" houses so they are taken out of the asset mix. So the supply of family houses is reduced and prices do their thing.

This describes my parents.  They have a prime 4 bedroom SFH in one of the most desirable locations, but have zero plans on moving. They have a double-lot (1.5 acres) which they bought before the area was built up, and they had truly exceptional appreciation over the last two decades. As empty-nesters they could comfortably live in something 1/4 the size on 1/10th the land, but they like it and can more than afford to pay people for the maintenance, so they'll probably stay there until they pass away.

70

Off Topic / Re: Electric Cars: Can they finally become popular in the United States?

« Last post by nereo on Today at 09:51:07 AM »

A call to DH at home to ask how - wtf. He did a quick search. The car had locked itself to the charger. All I had to do was turn the car off, and unlock it before unplugging it. We have had the car for a year and a half and didn't know about this feature.

Yeah, that surprised us as well, but is one of those "It's a feature, not a bug"... 
Since cars are left plugged in for extended periods of time, owners wanted to keep others from unplugging their car and plugging in their own.  So now you can lock the charging cable to the car.

ours has three 'modes' :  Never lock charger, Lock until Charging is Complete or Always Lock (need key and car off to unlock).

There has been a number of things like that which surprised us.