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07-02-2009, 01:59 PM
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#21 | | Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 1,891
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Where there's chaos, there's opportunity!
Nice grab!
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FIRE'd since 2005
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07-02-2009, 02:06 PM
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#22 | | Moderator
Join Date: Sep 2007
Posts: 4,893
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What do property taxes run on a beauty like that?
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07-02-2009, 02:38 PM
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#23 | | Thinks s/he gets paid by the post
Join Date: Jul 2008
Posts: 3,399
| Not really! Westernskies went out and spent quite a bit of effort in his quest. On the other hand, I am not interested in RE and spend more time looking for good stock buys. RE luck wouldn't find me. 
Time will tell if either of us (or both) has made the right move.
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Couple both 53-year-old, with 1 child graduated from college, and 1 left to go. DW RE @ 50. No pension, no benefits for either of us. Working part-time for fun, and for travel money (in good years that is, and for food in lean years!). | |
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07-02-2009, 04:00 PM
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#24 | | Recycles dryer sheets
Join Date: Jan 2008
Posts: 494
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Sweet deal! DW and I would be happy to house sit it for ya when we take our winter vacations. Perhaps you'd care to try out our fine Pacific NW skiing while we soak up some Arizona sun 
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"There is no dignity quite so impressive, and no independence quite so important, as living within your means." Calvin Coolidge | |
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07-02-2009, 05:56 PM
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#25 | | Thinks s/he gets paid by the post
Join Date: Nov 2005 Location: North of Montana
Posts: 1,842
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We'll offer house, snowmobiles, ice-fishing equipment and 4wd vehicle. -40 is energizing. You may want to stay 3 months.
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“You can fool too many of the people too much of the time.” – James Thurber
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07-02-2009, 06:31 PM
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#26 | | Thinks s/he gets paid by the post
Join Date: Jul 2008
Posts: 3,399
|  Quote: Originally Posted by kumquat  We'll offer house, snowmobiles, ice-fishing equipment and 4wd vehicle. -40 is energizing. You may want to stay 3 months. | Wow! Such a generous offer! How will Westernskies be able to resist? Why don't you throw in free booze for the duration of stay? He's gonna need it to stay warm.
Hey, that's heating by ethanol, a clean alternative energy! Yes?
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Couple both 53-year-old, with 1 child graduated from college, and 1 left to go. DW RE @ 50. No pension, no benefits for either of us. Working part-time for fun, and for travel money (in good years that is, and for food in lean years!). | |
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09-15-2009, 07:59 PM
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#27 | | Recycles dryer sheets
Join Date: Aug 2009
Posts: 256
| Quote: Originally Posted by Westernskies further east- The Superstition Mountains | Superstition's ... wonderful .. absolutely stunning area you are in and I am very envious... if I go back to wickenburg can I stop by for a cocktail?
I only wished I could do what you are doing.. congrats and best wishes...
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09-15-2009, 11:15 PM
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#28 | | Thinks s/he gets paid by the post
Join Date: May 2008
Posts: 2,913
| Quote: Originally Posted by heyduke Superstition's ... wonderful .. absolutely stunning area you are in and I am very envious... if I go back to wickenburg can I stop by for a cocktail?
I only wished I could do what you are doing.. congrats and best wishes... | Absolutely! - How about this weekend?-you can help us move in!  We have to be out of our current house by Monday, and could use the help...
You know what they say about friends helping you move...
1. Friends will help you move
2. Good friends will help you move twice
3. Really good friends will help you move a body...
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06-28-2010, 02:14 PM
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#29 | | Thinks s/he gets paid by the post
Join Date: May 2008
Posts: 2,913
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What a difference a year makes-
We purchased this home at the end of June 2009. We put our existing home on the market in August and it sold in 34 days; the buyer wanted us out in ten days. We moved into this one unfinished, and have been living in and working around the renovations/repairs/construction/completion ever since.
We finally finished the house this month; got our final approval from the HOA a couple of weeks ago. It turned out to be a lot more work and quite a few more dollars than we initially thought. The day after we closed we received a long letter from the HOA outlining all the outstanding issues with the home, the landscaping, etc... Discovered a couple of weeks later that there was never a certificate of occupancy issued by the county... at one point our ever-evolving to-do list had over 200 items on it, we crossed the last one off last night...Some of the work was self inflicted (well, as long as we are doing this, we should go ahead and change this and this, too...) but most was fixing what was never completed/ and or removed by the builder.
We spent most of the last year dealing with the pool and landscaping contractors, negotiating design details with the HOA (they missed their legal disclosure window by two weeks ) and doing all lot of the interior completion and (re)work ourselves. We put in all the built-in appliances (existing spaces were of course, just barely the wrong size.) , installed new plumbing fixtures, missing light fixtures, electrical rewiring, drywall repairs, trim work, masonry, installed missing countertops, finished up the custom tile work, bath fixtures, door hardware, etc. and re-did some shoddy finish work (undoubtedly the builder lost interest toward the end.) We removed a set of leaking French doors, reworked the front courtyard, and added an extension on the paver driveway for guest parking. Put up 250' of wrought iron fence, replaced 4 missing gates, etc. Extensive landscaping was required; we added over 300 plants and trees, all on drip irrigation.
There is a silver lining... when we were finished the HOA refunded the builders completion bond to us... $XX,000, which almost exactly compensated us for what we overspent! What a windfall.
All in all we are really pleased with the result- time will tell if this is going to turn out to be a good investment. There are several comparable homes in the neighborhood listed at well over $1M; we are really hoping they get anywhere close to that... We'll need to stay here another year for capital gains issues, anyway.
Enclosed are a few "after" photos of the completed house, similar to the "before" photos in Post #1
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06-28-2010, 02:23 PM
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#30 | | Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 2,374
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It's beautiful! I went back and looked at your first pictures and can't believe the difference.
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I purr therefore I am.
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06-28-2010, 02:36 PM
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#31 | | Thinks s/he gets paid by the post
Join Date: Feb 2005 Location: Mississippi
Posts: 4,781
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I was about to reply to this thread when I noticed it was a year old. Missed it last year I guess. Very nice indeed. Looks like a nice profit is in store for you. Two Nicklaus courses you say? 
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Full time wuss............
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06-28-2010, 02:45 PM
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#32 | | Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 10,039
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I'll be over next week...............gonna cash in some frequest flyer miles and come see you. I have my miner's axe and hard hat with light ready for gold prospecting.........
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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06-28-2010, 03:35 PM
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#33 | | Thinks s/he gets paid by the post
Join Date: Feb 2005 Location: Mississippi
Posts: 4,781
| I'm coming over too, just bring the golf sticks though.
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Full time wuss............
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06-28-2010, 04:05 PM
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#34 | | Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 2,374
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Where's the puppy? Oh, DH said he'd be happy to mow the lawn 
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I purr therefore I am.
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06-28-2010, 04:22 PM
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#35 | | Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007 Location: Sarasota,fl.
Posts: 5,797
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Wow ! The results are absolutely stunning !
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06-28-2010, 05:18 PM
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#36 | | Dryer sheet aficionado
Join Date: Jul 2005
Posts: 25
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It's a beautiful home with a gorgeous view! I LOVE it when someone gets a steal from the bank | |
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06-28-2010, 07:23 PM
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#37 | | Full time employment: Posting here.
Join Date: Oct 2007
Posts: 539
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Wow! Looking at the before pics, and the finished result, it looks like you kept up that pre-closing pace for much of the past year. The results look great, though.
Congratulations!
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"Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor." - Dr. Zoidberg
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06-28-2010, 08:49 PM
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#38 | | Thinks s/he gets paid by the post
Join Date: Jan 2006 Location: Mission, TX
Posts: 4,642
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Wow - love the exterior and all the rock work. Love that southwest adobe look. Is that an ocotillo out front? Nice!
Now with a spectacular new place like this, why on earth are you envious of my humble abode?
Audrey
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Life After FIRE - we redesign it every 5 years!
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06-28-2010, 08:54 PM
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#39 | | Recycles dryer sheets
Join Date: Aug 2009
Posts: 256
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yep nice home and yes audrey it is ocotillo my favorite devils walking stick...
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31 more Mondays and then I am FIRE'd... :)
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06-29-2010, 01:57 AM
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#40 | | Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 3,652
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I don't know much about real estate, but I think that in 5 years if you don't make money on that house, we are all in heap of trouble.
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