Saturday, November 14, 2009

Milestones: First Engaged and Now First Time Home-Buyers!

Ok, ok, I know I can't get carried away or emotionally attached to the first house we see BUT I am falling in love with the idea of becoming a home-owner! We looked at this house in the Uptown neighborhood, where we live now, for only $150,000 at 1,600 SF. When I first saw the listing online, I thought "too good to be true," so Adam and I swung by for the open house today.

Once we began chatting with the agent, we realized she actually owns the house. She is a full-time real estate agent who also specializes in flipping properties. I was totally buying into her pitch: she lives in the neighborhood and cares passionately about saving old homes from disrepair by restoring them. She did a wonderful job with the house and retained so much of the great character and craftsmanship in the period details that Adam and I are looking for. The house even has a fireplace!! [non-working :-(]

The price reflects the agent/owner's desire to have a quick turn over and that it is located in somewhat of a "transitional" neighborhood. It's by no means rough, but the block has a little ways to go before we could see a huge appreciation. Either way, this house is not staying on the market for long.

Timing-wise, we are about 4-6 months from really wanting to make a move pending our current lease on the apartment. Although, we do have the aritificial deadline of April 30 because we'd love to take advantage of the extended $8000 tax credit. I'm going to give myself tonight to "sleep on it" but I'm already planning where the furniture will go!

Reality check time: we applied online for a loan pre-approval.

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