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Scrapr 08-23-2020 06:50 PM

I'm poor
 
because I bought a new (to me) house Friday.

After my wife passed I wanted to wait a year to decide if i wanted to stay in our home. 4 years ago we had downsized from the "Big house" to our vacation house. About February this year i was feeling like I wanted to move back & be closer to long time friends. By May (1 year) I felt more certain.

So I had picked out 2 55 & better communities & 1 large all ages community. In June I toured a few homes & nothing really moved me. Then I happened to see an area in the all ages community that was fantastic. I loved it. The homes faced each other with sidewalks & a greenway in between. Alley load garages. No street facing homes. So I made a spreadsheet of each home there & came up with 30 homes. Nothing for sale now. The realtor sent out a letter & I sent out a letter to find any interest. I chatted up some people that lived in the area & put them to work.

Meanwhile I had Redfin alerts on anything in the development. Last Wednesday one popped up. I looked at my spreadsheet & this home was 2 numbers off my desired area. Did I miss one on my spreadsheet? I quick ran down & looked. No I didn't miss. This home is very close to my desired street but is facing a small park around a square. It was a desired plan with a Master really big bedroom with an en suite bathroom on the main floor.

I made an appointment for 9:00 am the next morning. I told the Realtor I really don't think this is the right one but I'd like to take a look. Housing is hot now & if you don't get in early you are skrewed. We got there & the home was immaculate. Really good shape. Cons: not my 100% location, no grass in yard for puppy. Pros: the right floor plan, good shape & not street facing

I went home to think about it. Deciding that the odds of the right plan (10 of the 30) coming up in my desired area might be a year or 2 versus this house available now & put in a full price cash offer about 3:00 pm. Offer expires about 9:00 am Friday morning. And waited. There was 4 other showings that day. By Friday am we get notice that there is a "substantially higher" offer in hand. My guess is $25k higher. Seller is waffling. Asks for proof of funds. I send over the MM statement. And wait. Seller wants a rent back for 60 days as she has not secured a home yet. Ironically in the resort area that I am moving from. Housing in Bend is hotter than the area I am moving to. So that might be difficult. I say sure & btw I can do that at no charge. I'll also waive inspections. Last & final. I had authorized the Realtor to go $10k higher but she did not need to go there

About 10 or 11:00 am I have an accepted offer. Close in 3 weeks. About 36 hours from hitting the market to an accepted offer. I transferred the money from Vanguard to my checking account this morning. And watched my total funds go way down. Poor me

freedomatlast 08-23-2020 07:03 PM

Congratulations! That's exciting! We just bought a 'new to us' house in March (yes, in the early stages Covid and market free-fall) and love it! Don't worry about the total funds going down. I just look at it as a redistribution of assets and the total funds will go back up if/when you decide to sell your present home.

whatnot 08-23-2020 07:34 PM

Congratulations on your new home! So glad everything worked in your favor.

travelover 08-23-2020 07:42 PM

Congratulations. I think you were smart to take 90% of what you want vs hoping to find 100% later. Life moves on anyway.

RunningBum 08-23-2020 07:43 PM

That's great! Any chance at all of a house swap? That would be incredible, wouldn't it?

Scrapr 08-23-2020 07:44 PM

Quote:

Originally Posted by freedomatlast (Post 2475516)
Don't worry about the total funds going down. I just look at it as a redistribution of assets and the total funds will go back up if/when you decide to sell your present home.

yes it's temporary. I have 2 unofficial offers of interest from neighbors. One neighbor has a friend that is moving over to teach nearby. I walked her through the house & she seemed to like it. Another neighbor might want to move her Mom in St louis in to care for her. And if that fails i can list it. 2 homes have sold on the street this year in days

FANOFJESUS 08-23-2020 07:49 PM

It is amazing how hot houses are right now. Many sell the first day.

Dtail 08-23-2020 07:50 PM

Sounds like the start of the next stage in your life.
Congrats.

VanWinkle 08-23-2020 07:53 PM

Congrats scrapr,

I am in the same boat as I am currently 16 months removed from my wife's passing. I am also thinking of selling my house and moving. I met a very nice lady on Christian Mingle and have 4 months of dating her behind me. I am hopeful that this may be a long term relationship. I am going to sell my home next spring and rent for a while to see how the relationship progresses. I am very happy for you getting that home in your desired area.

VW

CaliKid 08-23-2020 08:41 PM

Congrats on making a move when you saw something good. In today's market you can't dilly dally! Good for you!

Scrapr 08-23-2020 08:45 PM

Quote:

Originally Posted by RunningBum (Post 2475532)
That's great! Any chance at all of a house swap? That would be incredible, wouldn't it?

Yeah maybe? I want to tour the home again this week with some good friends. I'll drop a note that I'd be happy to let her stay at the house if she is house hunting. Kind of like the car dealer telling you to take the car home for a few days. Knowing that if you do it there is a good chance of a sale. Doesn't hurt that this is a great time to sit out on the patio w/the fire pit going in the evening.

Am i devious? :laugh:

ohyes 08-23-2020 09:05 PM

What an exciting way to buy. Congratulations on your new home.

Teacher Terry 08-23-2020 09:14 PM

Congrats!

powerplay 08-23-2020 09:26 PM

Congratulations! It sounds like a good move for you.

W2R 08-23-2020 10:00 PM

The house sounds beautiful! Congratulations on finding such a terrific home.

braumeister 08-24-2020 02:50 AM

Sounds like you made the right move. Wish you much happiness in the new home!

racy 08-24-2020 04:46 AM

Your story had me on the edge of my seat!

street 08-24-2020 04:54 AM

I'm happy for you that you found what you wanted. I wish you well in your new home.

FIREd 08-24-2020 05:22 AM

Congrats on the new house! You put a lot of thought into it and I'm sure that you won't regret making that small concession on location.

Ronstar 08-24-2020 05:27 AM

Congrats! Excellent that you got the house you wanted without having to go through a long process.


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