The house will be mine. I’ve signed all the mortgage papers, I’ve signed all the contracts, the inspections are done. I’m just waiting for closing. The official closing date is September 19th, but I cannot imagine why it would take that long.
The place needs work, I knew this before making the offer and the inspection revealed the details. Nothing is so bad that will stop me from moving in. I will be doing some work before I actually move.
You can view pictures of the house on a flickr set.
Have I told you how much I hate living in an apartment? What, no? Well I cannot believe that because I really hate it and I usually tell everyone how much I hate it. From the lack of water pressure to the crappy dishwasher and walking up three flights of stairs. I will really be happy to be out of this apartment.
The housing market, she no good for me. She real good for seller. A while back I wrote about a house I wanted to buy only to find out there was a contract signed the day I looked at it. This was the house on a 1/2 acre with a giant antenna in the back yard. It was listed at about $135,000. One might get $130,000 for a house in this neighborhood for that much if it is in absolute pristine condition, this house was/is not.
This house has a flat roof and it had a leak at one point. I would say half the walls and ceilings in the house will need to be replaced. Not to mention pain, carpe, wood root along the outside and kitchen needing remodeled to name a few. Were talking a easy $30 to $40K in work is needed and I think I’m underestimating that number. Yet the house sold for $130,000! Some person, who must be on crack, has more money than sense actually bought that house for near the asking price. I’m guessing that that they would need to sell the house near the $200,000 mark to get their money back.
This hasn’t just happened once, this has happened twice. Another house on the same street in a similar situation. Not nearly as ba, they were asking about $120,00. A little lower but still needed lots of work. I offered $105,000 would go up to $110,00. Someone came in and offered the asking price. It’s insane I tell you. INSANE!
The popular thought is that people from California are selling their homes for a half million dollars. FInding that the Phoenix market is turning into California’s market, they come here where’s it’s cheaper. Thus people have plenty of money to spend more on our cheap houses, even if they need work. What’s $30K when you just made $200,000 on your last house?
As for me, my lease is up 31 October. Seems like a long ways away, but I’m getting worried.
Houses seemed to dry up this week, as I only had one prospect
This house was overpriced by about $20K. It had been bought by an investor and fixed up, but it was done somewhat half-assed. Its land was too small anyways.
The trend continues, I either like the house and not the land or I like the land and not the house.
This house kind of had a weird lay out.
This was a Amrep house built in the early 1970s. I’m not a huge fan of Amrep homes (more on that some other time) but this one had a very nice layout. THe kitchen was very well done. The owners had already done most of the renovation work I would have with wood floors and painting and so-forth.
Unfortunately the yard was really that big (.25 acres or maybe smaller). And I wouldn’t be able to talk them down much considering the work that was done.
This house has a nice large back yard with block walls. It’s also a Amrep house and lives up the the “werid” design that some Amrep houses have. I don’t mind a 2 story house but this one was just not right.
Finally the last house of the week. Another Amrep house that has a interesting design. I liked it actually. They had put tile on the kitchen counters, it looked nice but was the kind of adobe tile that wasn’t uniform. Thus the counters are uneven. And of course the plot of land was too small/had no vehicle access.
I’m being very careful this time around, not jumping into anything unless I’m very sure it’s what I want. I looked at two house this week.
This house, being a HUD home, was foreclosed on.
Although it seems cheap, it gets bid on. Bids are due on this house by the end of next week. My concern is that I could get outbid by a contractor who can do the fix up work cheap that I can (which is apparently happening with the HUD homes around here). Even though it’s the fixer upper that I’m looking for the kitchen needs more work than I think I’m prepared (or know how to) do. Not to mention the yard is oddly shaped.
This house didn’t have any lot size info on the MLS, only saying it was on a culdesack. To make a long story short, the house was pretty nice inside but the lot was very small.
I started house hunting this week. No winners yet, my apartment lease is up in about 5 months so I have plenty of time. Here’s what I found so far.
In perspective, this house was just about perfect.
Unfortunately the house had an offer on it when we went to look at it, so I never saw the inside.
No house yet, its being built and will be done in about 3 months. But I did look at an identical house nearby that was almost done.
Considering it’s on a flood plane they still wanted ~$130000 for it. I’m afraid this isn’t the house I’m looking for.
No photo for the next house.
It’s a new house, they want ~$130000 for it and it just doesn’t seem that special for the price. There were no windows in the back of the house, just weird.
Were getting close with this house.
Like I said, it’s close. I going to keep looking, but I may come back to this one in a few months if I don’t find anything else (if it’s still available).
Doesn't Fit In 