Pics of Pitino's home in Edina

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whoever wrote the article doesn't own a house. My mortgage is much larger than my salary.
 

Ha! I know that house. The best man from my wedding lives about 3 doors down from there.
 


Nice place, but I would never live in Edina. I don't need to pay a premium for the privilege to live there, nor would I want my kids to grow up with those entitled kids. I went to school long enough to confirm everything bad you've heard about Edina is true. People even drive like they're entitled in Edina. Terrible drivers.
 


At the bottom it lists "Buyers, Richard and Jill Smith". I chuckled.
 


Gopher Warrior said:
Hmmm.. I really don't love the kitchen or the square footage for the price.

That may change if he invites me over for dinner. Probably would.

Anyway, spending around 83% of your current annual salary, which should increase as time moves forward, is actually far more reasonable than most people who buy houses. A $5 million home would perhaps be stretching it a bit without help on a big downpayment, but a $1 million home? Nothing excessive about that in the slightest.

I do like the office..
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A couple of weeks ago, someone asked him about housing. He stated that he just signed a 30 year mortgage, so he has some long range plans.
 




Gopherguy0723 said:
Nice place, but I would never live in Edina. I don't need to pay a premium for the privilege to live there, nor would I want my kids to grow up with those entitled kids. I went to school long enough to confirm everything bad you've heard about Edina is true. People even drive like they're entitled in Edina. Terrible drivers.
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I envision you doing your best Charles Barkley as you describe how terrrible.. Edina is
 


And everyone told me that engineering would give me a comfortable life. I call bull*&^!#*&^!#*&^!#*&^!#! When I was 14 nobody told me I could coach a game for millions of dollars!
 

Dr.Don said:
A couple of weeks ago, someone asked him about housing. He stated that he just signed a 30 year mortgage, so he has some long range plans.
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Seriously? A guy with his salary signed a 30 year mortgage? Seems foolish. Good thing he is a basketball coach and not a financial advisor.
 



Unregistered User said:
Ha! I know that house. The best man from my wedding lives about 3 doors down from there.
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If he hasn't already, tell your buddy to bring over a "welcome to the neighborhood" hotdish. People love hotdish. That may be your way in!
 

afurry91 said:
Seriously? A guy with his salary signed a 30 year mortgage? Seems foolish. Good thing he is a basketball coach and not a financial advisor.
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His financial advisor likes that 30 year mortgage.
 


Gopherguy0723 said:
I don't need to pay a premium for the privilege to live there...
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Edina was not my first choice when I bought a home. I first was looking in St. Paul, and South Minneapolis. Fact of that matter was that for the type of home that I was looking for, which is nothing like the one in this thread, the most affordable option was in Edina. And the property taxes are much lower than South Minneapolis.
 

afurry91 said:
Seriously? A guy with his salary signed a 30 year mortgage? Seems foolish. Good thing he is a basketball coach and not a financial advisor.
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I doubt there's a pre-payment penalty. Interest rates are also still below the likely rate of return from his investments. so.. there.
 

AO54 said:
I doubt there's a pre-payment penalty. Interest rates are also still below the likely rate of return from his investments. so.. there.
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Exactly. 30 year mortgage rates are like free money now. No one is saying he has to make minimum payments either.
 

Gold Vision said:
Exactly. 30 year mortgage rates are like free money now. No one is saying he has to make minimum payments either.
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It's worth it for the recruiting spin alone. "Don't worry about me leaving for Louisville, I just signed a 30-year mortgage."
 

Also allows him more spending cash for recruiting trips and airline tickets!
 

It looks like a nice home. I hope that he and his family enjoy living in it for many years to come.
 

Deleted, not relevant to this thread.

But he should be able to get his weather pretty easily from Belinda Jensen, I think she lives right next door.
 

afurry91 said:
Seriously? A guy with his salary signed a 30 year mortgage? Seems foolish. Good thing he is a basketball coach and not a financial advisor.
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What? I'm guessing he can invest his money and make more then say the 4.5% he's making on interest.

Paying off debt is less important then letting your money work for you, especially in this current climate.
 

Any additional comments beyond general thoughts on Pitino's house will be deleted. We encourage a 30 year vs. 15 year mortgage debate in all its glory to be discussed on the OT Board.
 

At 8% or 10%, whatever, the point still stands.

I also enjoy how the original stupid comment is allowed to remain, but my rebuttal to the original stupid comment is deleted because some tool starts nitpicking with absolutely nothing to back him up.
 

GopherHole Staff said:
Any additional comments beyond general thoughts on Pitino's house will be deleted. We encourage a 30 year vs. 15 year mortgage debate in all its glory to be discussed on the OT Board.
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okay...to make room for the rest of the hard core BBall talk in this thread??

p.s. --If I made that kind of money, I'd have gone with brick...
 

GopherHole Staff said:
Any additional comments beyond general thoughts on Pitino's house will be deleted. We encourage a 30 year vs. 15 year mortgage debate in all its glory to be discussed on the OT Board.
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I'm disappointed there is no indoor practice facility or film room in the new house. The guy likes watching videos on his Ipad, but maybe we can encourage him to get a projector so we can all break down game tape together.
 

dpodoll68 said:
At 8% or 10%, whatever, the point still stands.

I also enjoy how the original stupid comment is allowed to remain, but my rebuttal to the original stupid comment is deleted because some tool starts nitpicking with absolutely nothing to back him up.
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It may be that the adjectives are getting you in trouble.
 

AO54 said:
I doubt there's a pre-payment penalty. Interest rates are also still below the likely rate of return from his investments. so.. there.
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A house is never a good investment nor should it be considered one. Unless of course Rich isn't happy with his salary and plans on renting those rooms out to make some extra cash. I bet he is a financial prodigy as well!
 

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