Its Finally Here...The Other Thing!

Yeah, so I'm back from the beach. And yeah it was great. Sand. Waves. Sun. Great!

But today is THE DAY!! At 4:00 this afternoon, I will close on my house. By 6:00 tonight I will be a HOMEOWNER!!! (imagine fireworks and Sousa march here).

I went to the bank to get a cashier's check for the closing costs this morning. That was a little scary - completely emptying your bank account and then holding a check for every cent you have in your hands? Yeah, scary. But, the bank teller was very sweet, and said "Honey, that's the best money you'll ever spend - don't worry." Thanks, Cindy.

Some friends are gathering at the new place this evening for a little bubbly to christen it, and then we're off to more thoroughly celebrate at our usual happy hour place. You know, because I don't have chairs yet. Or anything else.

Back on the Road Again

Halleilujah!!! The parents came through and have agreed to bail my butt out in closing on my house!!! Yippeee!!! The champagne party on August 27th is back on! I will admit that it wasn't the greatest moment of my life, having to tell my parents that I wasn't going to be able to do this whole house buying thing on my own afterall, but I guess we all have to learn when to ask for help, right? Anyway, now that I'm over the awkward part, I'm mostly just relieved!

With all the craziness surrounding the house, I almost completely forgot that in just one short week I'll be headed off to vacation in Emerald Isle, NC! This year, the fam has rented a house with air conditioning. We learned our lesson last year. I can't wait!!! Normally, I would have spent several weeks prepping for vacation - collecting the various toiletries, bathing suits, flip flops, etc. that are necessary for the beach and trying to squeeze them into a tiny suitcase, attempting to get at least some semblance of a tan before going out in the blazing sun, whipping up batches of cookies as my contribution to the family's food supply for the week. Well, this year I've fallen completely behind schedule and now I only have a week to get myself beach-ready!

Oh well, its a fun thing to work towards...

Screeching to a Grinding Halt

So, I've hit a roadblock on my way to homeownership. The last hurtle I had to overcome took place earlier this week - the appraisal. Normally, this step is really just a formality required by your lender to verify that you're not paying an outlandish sum of money for a worthless shack in a demilitarized zone. The assumption is that the seller had his house appraised prior to putting it on the market and he's not asking for too much more than its value. So, I had no worries about the appraisal - I completely forgot it was to take place on Monday. I forgot about it until Suzy called me Tuesday afternoon with some bad news.

Yeah, the house was appraised for a HUGE amount less than what I had agreed to pay for it. My lender immediately rejected my loan application, and I was left wondering what the hell just happened?? There are a few ways such a situation can be worked out: 1) the seller can just lower the price of the house to the appraised value, and we all continue on our merry way, 2) the seller can lower the price of the house, but refuse to pay any incentives like closing costs or inspection repairs, 3) the seller refuses to lower the price and I can either walk away or find enough money to make up the difference between my loan amount and the asking price. Well, #1 was extremely unlikely, and #3 would result in me walking away because I don't have that kind of money just sitting around. Luckily, on Wednesday morning the seller decided to go with #2 - good news and bad news. The overall cost of the house is now less (yay for lower mortgage payments and property taxes!) but I have to come up with the cash to cover the closing costs and repairs.

So, that's where we are now - looking for money. I have a feeling a really awkward call to the parents is in my near future...

Loans and Inspections

Well, the road towards homeownership comtinues! Last week, I had two big hurtles to get through - the inspection, and my loan signing. I was far more worried about the inspection than the loan signing, but as it turned out it should have been the other way around! The inspection was done by a really nice guy named Bob whoexplained everything in extreme detail. The house is mostly in pretty good shape. The few bigger issues are going to be covered by the seller (well, I hope so - I found out for sure later this coming week), and the other stuff all seems to be things that I can learn to do myself (Bob seemed to think so, anyway). So, check off the inspection - done!

Then we moved on to the loan signing. It was originally scheduled for last Wednesday, but it was delayed due to a tornado warning in our area. That should have been my first clue that this was not going to be a fun experience. I mean, it all turned out okay in the end, but watching a seemingly endless stream of paperwork pass in front of you, most of which might as well be complete gibberish for all the sense it makes, showing exactly how much money you're going to be giving up - well its terrifying to say the least. There was a moment when I honestly thought I might have a panic attack. "Wait! Wait! I was wrong - there's no way I can afford a house! Can we just forget about this??" That's what I felt like saying. But, the last thing they do is show you all the money going in to the deal from the seller and from the FHA, and suddenly things look a lot better! I'm still pretty much committing myself to 30 years of donating most of my paycheck to the cause, but at least now I'm getting something out of it - unlike renting, where I got nothing out of it. That's what I keep telling myself anyway...

So, I now have my closing date: August 27th. By the end of that day I should have the keys to the house in my hand and I can pop some champagne in my new living room!

I Think I Bought a House!!

Cute little cubby behind the door in the spare bedroom.

Side door into the kitchen - the original door, too!

The front door that opens into the living room - gotta love those vertical blinds!

A bad photo of the really great yard - you can kinda see the little shed behind the crepe myrtle.

Suzy pointing at a dead shrub in front of the house.

Yes, you read that correctly! Its all happened extremely fast, but apparently its true! After much back and forth, I finally decided to put in an offer on House #1, the small bungalow with the great yard (geez, that sounds like House Hunters doesn't it?). So, Suzy and I did all the paperwork yesterday afternoon, and low and behold at 4:00, the seller verbally accepted my offer! This morning he made it official and signed off on the deal! So, assuming nothing terrible shows up during the inspection, I'll be a real homeowner by the end of August! WOOHOOO!!!!!

At the moment, I'm only slightly terrified. I'm not sure if that will get better or worse, but I think its safe to say that I'm going to be good for absolutely nothing for a few days. I'm so distracted that I threw an entire box of cereal in the trash this morning!

Anyway, I've posted a few (million) random photos of the house - enjoy!

The Latest Batch

So, it seems the real estate market picked up a bit around here while I was in Boston. Last night after work, Suzy and I went to look at three different houses, pictured above. All are excellent prospects! The first one, a 1957 rambler, is in very good shape, has a somewhat updated kitchen and is on a quiet, residential/commercial street. Its the lowest-priced of the three, but its also pretty small - two bedrooms/one bath. It has an awesome yard, though! The only real drawback is the second house shown above - only slightly more expensive but 3 times as large. Its a 1967 ranch with a sunroom, 3 bedrooms and a huge finished basement. If it weren't for this second house I wouldn't even be debating making an offer on the first one, but now I'm wondering - do I buy a tiny but cute house or a much larger but less attractive house? The larger house would have better resale value, but I've always thought buying a house based on resale value is kinda pointless - why should I buy a house based on what other people find appealing? I'm the one who has to live there! So, anyway I'm doing some serious debating back and forth between the two (it doesn't help that I might just be the most indecisive person in the world). The last house shown above is a little rambler that's ACTUALLY LOCATED DOWNTOWN and its priced UNDER $200,000!!!!!!!!!!! However, its still above my price range. Suzy says it is extremely unlikely that the buyer would accept what I can offer, but she's going to make a verbal offer in a few days, just on the off chance. I'm holding out hope that because it needs serious updates inside that everyone else will pass on it. A girl can hope, right? In the meantime, I have to choose between the more reality-based properties. Hmmm...

Just Not Meant To Be

I finally heard the results of my offer on The House today. And its not good news. To put it simply, my offer wasn't accepted and someone else will be occupying MY house in the very near future. My only consolation is that the winning offer was for $10,000 more than I could even afford, so even if I'd offered more than I did I wouldn't have gotten the house. At least I don't have to ask "what if?" for the next 20 years!

So, that's that. There's nothing I can do about it, and its time to move on. Who would have thought that you can get so invested in a house having only set foot in it once? I know what my mom will say (and probably G, too!) - it just wasn't meant to be...

Ticking Some More...

So, I just sent a kinda nasty email to my Realtor, and now I feel bad!. I'm STILL waiting to hear about my offer on The House, and I think the stress has finally gotten to me completely. I told Suzy that I wanted her to push the listing agent for an answer, whatever it is, before the close of business today so that if its "no" I can move on and start looking at houses again. I also intimated that maybe she needs to be a bit more on the ball and start acting on my behalf a bit more aggressively. I think these are all valid points, but now I'm feeling that maybe I overstepped my bounds - afterall, what do I know about the real estate game?? Nothing, really. Maybe banks that are trying to sell foreclosures just take FOREVER to say yes or no to offers, and I'm just being impatient. And maybe Suzy is trying to do everything she can, but there's only so much she CAN do.

In case you can't tell, I'm not the kind of person who likes confrontation!

Tick, tick, tick...

Believe it or not, I'm STILL waiting to hear whether or not my offer on The House was accepted. Its been a week now, and I'm not sure how much more I can take!! I did find out through Suzy that the listing agent for the house went on vacation last week, so that slowed the process down considerably. However, the posting for the house has been taken down from its web-site, so I can only assume that a decision has been made. Oh, the agony...

Wish I had more to report, buts that's it! Everyone keep you fingers crossed!

Tension and Paperwork

Just got back from filling out the paperwork necessary to put in an offer on THE HOUSE! I'm completely jazzed and over-caffeinated (probably could have foregone my morning coffee - I was up at 5:00 this morning, just pacing) and I can just feel the tension! According to Suzy, one other buyer has put in an offer on the house, and of course we don't know how much it was for, so we had to talk strategy over lunch today. I finally decided I felt comfortable with adding 5% closing costs, plus $10,000 to the asking price. That still works out to $15,000 under my maximum budget, so I feel good about that. Now, its just a waiting game. Supposedly I'll know by close of business tomorrow!

So, in the meantime, let me tell you all about this house! Its a 1940 bungalow foreclosure that's in a small post-war housing development just on the outskirts of the downtown area. It has 3 full bedrooms and a "den" which could totally be another bedroom, but it doesn't have a closet, so legally it can't be listed as a bedroom. Whoever owned it previously obviously poured some serious money into updating important things, like appliances, electric, roof, etc. but also left all the original trims, doors, cabinetry, hardwood floors, etc. completely alone - so its the perfect combo! It also has a working fireplace and a sunroom addition on the back - obviously those will become Bailey and Pepper's domain. I think I knew it was the house for me when I discovered that there was already a cat-door cut into the door leading down to the full basement (with washer and dryer)! The house also sits on half an acre of yard, which is somewhat of a drawback - that's a whole lotta mowing and raking! But on the other hand, it means space for a great patio and garden. The only real issue I could find with the house is that its not actually downtown, which was my target locale. Its in a very quiet, somewhat rural, neighborhood that looks like its mostly populated with retirees and young families - not the greatest social scene, but I'm only 3.7 miles outside of the action, so I can live with it!

So, that's the deal. If you all could keep your fingers crossed, I would appreciate it!

And on the 7th Day...

... the clouds parted and rays from heaven shown down. And God decreed that M should have this house, and he saw that it was good.

Yes, that is how momentous this is - I have to get all biblic-y to describe the moment at which I saw this house yesterday. I LOVE it! It is THE house, and I am putting in an offer tomorrow.

Tune in later for more info on THE HOUSE!

Adieu Van Buren

Well, its official, I've passed on the Van Buren house. After another visit with Suzy to take photos and make notes and 48 hours of serious deep thinking, I came to the conclusion that it just wasn't the right fit. Well, that and I think I witnessed a drug deal go down in the neighboring yard the other evening. Just didn't make me feel all warm and fuzzy! I've also decided to start looking at houses outside of my target neighborhoods - a great house could be out there somewhere.

So, that's not much in the way of news, but its what I've got!

Did I Mention...

I was just looking through my posts over the last few weeks, and I realized that I never got around to blogging about the fact that the Van Buren House from a month or so ago is BACK ON THE MARKET!!! Yes, that's right - apparently the buyer who swooped in and offered the owner his exact asking price didn't actually have the funds to back up that offer and the contract fell through. Surprise, surprise. Well, anyway, last weekend Suzy called me to say that Van Buren's owner called her to ask if I was still interested, and if I was he would take my original offer plus he would pay my closing costs.

Well, gee, darn - that presents a dilemma for me. After the Van Buren House was off the table, I had pretty much talked myself out of it (it needs too much work, the whole scary apartment building next door issue, the weird parking lot situation, etc. etc.) and decided I hadn't been that thrilled about it. So, now I have someone practically giving me this house and agreeing to all of my demands. Does that change how I feel about the house? I don't know...

I was supposed to go take another look at the house yesterday, notebook in hand, so that I could make a very thorough list of all the pros and cons. That didn't happen because of the afore-mentioned Summer Bug (still visiting, by the way). Instead, I've been laying on my couch going over and over it in my head. That's never good. To compund the problem, my landlord showed up yesterday afternoon with a new 12 month lease for me to sign. I guess he got tired of letting me go month-to-month while I looked for a house. What to do???

Any and all advice would be welcome!

Well, Crap!

So, I think I've finally had my first real setback in house-hunting. At the time of my last report, the Bunker Hill House had been sold, which was a bummer, but not hugely upsetting. Well, 45 minutes later, Suzy called to tell me that the Van Buren House had also gone under contract. Apparently, someone who hasn't heard about the lousy housing market and the current recession swooped in and offered the owner his exact asking price. So, while the owner had agreed to discuss my low-ball offer, he obviously backed out on me. So, there you have it. In the span of one hour I lost the two best house prospects I had going.

The really, really sad part is that there's NOTHING else in my price range on the market right now. Suzy says she really thinks things will start popping up soon (May, apparently, is prime home-listing time) and not to lose hope. I haven't lost hope at all (I have been at this for a comparatively short time, afterall), but it was fun to have houses to fantasize about - you know, furniture arrangement and paint color selection, all that fun stuff.

Sigh....

The Update...

Miss Bess requested that I get on the ball and post something with regards to the Van Buren house, so here you go:

Well, the saga of the Van Buren house continues. Suzy managed to get the property assessment documents so that she could find the legal property lines. As it turns out almost half of the gravel parking lot in front of the house actually belongs to the house property. So, I could conceivably get a permit from the city to put in my own driveway, and then grass-in the rest of "my" gravel to make it part of the yard. So, practically speaking, that solves one of the biggest problems with the house! I would probably still need to put up some sort of privacy fence, too, because Suzy was also able to confirm that there are indeed 5 apartments next door to the house, and they are all currently occupied by college students. Ever since I hit 30, I've come to have an aversion to finding passed-out drunk kids face down in my flower boxes on Saturday morning, so the neighbors at the Van Buren house are still a bit of an issue. The other new issue is that the owner of the house says he would be willing to accept my offer of somewhat under his asking price, but only without including the $12,000 of fix-up money he was originally offering to the buyer. I understand that, but its still kind of a bummer - especially since the house does need work, and that $12,000 would have been a HUGE help - I don't know how much a driveway costs, but I'm guessing its more than $50. On the bright side, my local historic preservation/renovation expert and good friend Phil has offered to help me build a fence, if I need it - I just have to pay for materials and beer.

So, basically, the update is that I'm still thinking about it! I still really like the house, but I'm not sure its "the one". Suzy says its not going anywhere anytime soon, so I have some more time to consider it.

Wimbledon

The connections between my real life and Hollywood movies continue. Over the weekend, I happened to watch the movie Wimbledon with some friends. For those of you who don't know, it stars Paul Bettany (pretty much my ideal man and perfect in all ways, except for his current marital status) and Kirsten Dunst, and is predictably about Wimbledon. Today, although I spent nearly 4 hours doing laundry and thought I had missed it, I was able to catch the real Wimbledon Men's Finals between Raphael Nadal and Roger Federer (sorry, G - you were right, Federer was still in) and what a match it was. I don't really know much about tennis, other than what I learned in one summer's worth of ill-fated tennis lessons in the 5th grade, and every time I watch it on TV, it takes me about halfway through the match to remember how the scoring works. And occasionally the crowd will suddenly start cheering and John McEnroe's voice will say "Did you see that?!?! Unbelievable!!!" and I have no idea why, but I still enjoy and appreciate a good match when I see one. Honestly, I think today's Wimbledon championship was even better than what Hollywood concocted for Paul Bettany - either Federer would win his 6th straight Wimbledon title and enter the history books, or Nadal would win his first Wimbledon after losing a heartbreaker to Federer last year. It ended up being the second longest (I think) Wimbledon match ever played, there were 3 rain delays, and it went later into the night than any other Wimbledon match (9:18pm, London time). It took 6 hours to decide the winner. In the end, it was Nadal. And here's the best part: after he won, he climbed up into the stands to hug his parents - just like in the movie!!! Awesome...

So, in other news, I've been doing some more work on the home-buying front. After investigating the FHA programs for first-time homebuyers, I think I qualify income-wise. So, I tracked down an FHA lender in my area and tomorrow I'll be calling her to set up an appointment. I'm figuring this could go one of two ways. Either I'll walk in to this appointment with the lender and find out that absolutely I qualify, and I'll wonder why I took so long to do this, or the lender will laugh her butt off at me and ask what on Earth makes me think I could possibly afford to buy a house? I'll keep you posted...