Rant: Real Estate in Western WA

[mud1059]

As long as it's still haunted, that's what I'm lookin for

 

[in2fords]

Nice find, Im hoping the market is still down when I get to the mainland.
Jeremy

 

[2xtreme]

Step 2: What the hell am I thinking?! I'm now terrified! We made an offer on Thrs expecting to hear back next week or the week after. NO, they came back today and accepted. I have buyers remorse and I haven't even bought the place yet. Not too shabby for 290k, no?

http://www.skylineproperties.com/pr...39&PHPSESSID=33b7556c490e6b0f2d5fdd5534427c69

Edit: I walked the lot on Wednesday and there's a nice little mud pit way in the back there.

Paul,
That is a VERY nice looking place!! I am not familar with the area but in my neighbor hood that is an excellent deal. It looks like a very nice starter home for you with plenty of room and ability to grow with if/when you want.

If you seriously have reservations it is normally VERY easy to back out. Plus I assume you have plenty of contingencies also? The market should be "soft" for a little while, but you should be in this for the long run right? (at least 5 years).

If you want someone to bounce ideas off of or ask "dumb" questions to, give me a call, I would be more than happy to provide any insight I might be able to help you with. I am by no means an expert but I have been through this a few times

Michael

 

[JBweld]

Looks like a nice place Paul.

 

[XJCasper]

Very nice.

 

[mud1059]

Paul,
That is a VERY nice looking place!! I am not familar with the area but in my neighbor hood that is an excellent deal. It looks like a very nice starter home for you with plenty of room and ability to grow with if/when you want.

If you seriously have reservations it is normally VERY easy to back out. Plus I assume you have plenty of contingencies also? The market should be "soft" for a little while, but you should be in this for the long run right? (at least 5 years).

If you want someone to bounce ideas off of or ask "dumb" questions to, give me a call, I would be more than happy to provide any insight I might be able to help you with. I am by no means an expert but I have been through this a few times

Michael

Thanks guys, and thank you Michael. I do believe I'm all out of dumb questions. I've spent some late nights up reading all kinds of info. We do have a bunch of contingencies in the offer contract, however I'm just nervous about that kind of commitment! It's a big step we haven't taken. We'd be fine financially if daycare wasn't $1200 a month! However, it's not a deal folks come across every day. In April last year it was appraised for 410k.

 

[2xtreme]

Thanks guys, and thank you Michael. I do believe I'm all out of dumb questions. I've spent some late nights up reading all kinds of info. We do have a bunch of contingencies in the offer contract, however I'm just nervous about that kind of commitment! It's a big step we haven't taken. We'd be fine financially if daycare wasn't $1200 a month! However, it's not a deal folks come across every day. In April last year it was appraised for 410k.

It is a stressfull decision, but a great one for the long run.

Sounds like you found a great place!!

Michael

 

[Bdiddy11]

Look into REO properties that banks own... foreclosures/bank owned properties. There's generally a wide selection of houses out there since the market is going down, at least here in Idaho there's some pretty good deals out there. You just gotta find the right realtor and one who deals with foreclosures. Some of them are fix-uppers though and that's why they're a lot cheaper. Luckily prices here in the Boise area aren't super high for a 2,000sq foot home as long as it's not like downtown Boise or a really nice neighborhood. My wife and I moved into my mother in-law's garage to save up money for a house.

Most likely a foreclosed house that could use some TLC. We've got no problem fixing up a house. Just depends on your situation though. We're coming up on our 1 yr anniv. on March 23 and both go to school and work full-time. Essentially we'd like to live more out towards the country w/some land. Middleton/Kuna areas. By the time we're ready to purchase a house the market should have dropped enough, and more foreclosed houses that we can find a killer deal (hopefully) I've seen some listings on foreclosures for 2500sq ft homes for like $150k. But that's here in Idaho...

 

[mud1059]

The people that shop for foreclosures out here are vultures. They usually have inside contacts and the like. Plus it's widely known those are the great deals and people can make a killing in a matter of weeks. We got really lucky. They foreclosed the day before our offer went in. Wasn't intentional, we just finally got a good break.

Newest update: Buying a home is a PITA. I'm stressed beyond belief. Jeep needs to be done, Chevy needs to be done, my credit score has dropped almost 100 points in 2 months. ARGH! Officially applied for 2 loans today. One VA and one conventional. Inspection is tomorrow. Luckily the closing date is March 31, maybe I can get some sleep before then.

 

[2xtreme]

Newest update: Buying a home is a PITA. I'm stressed beyond belief. Jeep needs to be done, Chevy needs to be done, my credit score has dropped almost 100 points in 2 months. ARGH! Officially applied for 2 loans today. One VA and one conventional. Inspection is tomorrow. Luckily the closing date is March 31, maybe I can get some sleep before then.

YES, it is!! But it is well worth it when it is over and a wonderful learning experience along the way. Stick it out, it's only a few months to get through the whole process. The worst part is the very begining (for you now) and then not so bad but stressful at the very end (closer to closing), you should get a good break in the middle while they are messing with paperwork

Don't stress, I though this was an un-emotional sale

Michael

 

[norcal420]

Newest update: Buying a home is a PITA. I'm stressed beyond belief. Jeep needs to be done, Chevy needs to be done, my credit score has dropped almost 100 points in 2 months. ARGH! Officially applied for 2 loans today. One VA and one conventional. Inspection is tomorrow. Luckily the closing date is March 31, maybe I can get some sleep before then.

It sure is a PITA, but as everyone has mentioned it's well worth it. Just wait 'til your SO starts decorating....

Don't forget to re-adjust your W-4 to reflect your new found deduction. It'll help you get a little more pocket $ each month.

I've found that the first year is the hardest to deal with (don't forget supplemental property taxes when budgeting), but after that you're pretty much golden.

congrats.

dr

 

[Bdiddy11]

People that shop for foreclosures may be vultures... but they're smart :eeks1: Why buy a house for $400k when you can get a similar one for half the price w/a foreclosed one. You just gotta know some people/realtors and be on the ball. I think it's definately worth it. I'm all about saving a buck here and there where I can. Especially when it comes to owning my first house w/my wife.

I don't look forward to the stress of paperwork and all that either...

 

[mud1059]

Bringin it back.

Some of you at NWF asked about the house. I figured I'd finally post some pics and give you clowns the LATEST AND GREATEST update.

From the end of the driveway.

Other corner - Front

Right side (Boring, I know)

The road ie my property line is at the treeline from this picture.

Hot Tub off the back/right corner

Somebody's kids. Never seen 'em before

Yes, there is crusty beer balloons and a 1981 magnavox TV in the hot tub.

Back porch

With view of Barn/pump house

 

[mud1059]

Carport and toolshed (hopefully, tractor parking!) You can see the gate in the background. That's where the next pic was taken.

View from backyard gate to rear pasture. The natural spring is behind the V trees to the next treeline. If that makes sense.

And lastly, this is from my front porch steps. Minus the 4' grass, I love the view.

 

[mud1059]

So we're getting much closer to closing! Their first mortgage company FINALLY acknowledged us as potential buyers the day they set the auction date, July 11. They asked for 310k, we agreed. Then asked for 320k which we declined. Their counter was the sellers pay ten and we cover closing. This was agreed upon by us, but the sellers don't have 10k sitting around. That's the latest update.

The house has been empty since mid March to meet our first attempt at closing. Hence, the horrible condition of the yard, siding, yada yada. This is going to take a HUGE chunk of my time to get this place back in order. That's part of the reason the 7.65 acres/2100 sqft IIRC house is only going for ~318k Once I do though, you are all invited for a BBQ and tour of the back yard. (I haven't found it yet due to slogging knee deep in the natural spring/creek in the back.)

 

[Blkxjkrawler]

Looks like you've got your work cut out for you, but still very nice. I'd love to get something like that with some space around it someday.
-Ryan
P.S. IN for the BBQ

 

[TORX]

So where are the pics of the so called dog-horse factory? :laugh:

 

[BPB]

I live with my parents, my house is like 400k lol

 

[PornstaR]

Is everyone in the import/export of drugs?

Sorry to whine!
Paul

Manufacturing.


and you arent sorry!!!

 

[Ba-Riedo]

Looks great Paul, you defiently gotta check out the depth of the creek with your jeep...

-Alex