Happy Holidays and Happy New Year from the Holman family. We have been busy over the last week traveling to see family, working (see this blog?), and looking for a place to call home in this down market.
Since September we have been looking for a place to call our own. We wanted a to move out of our little 2 bedroom town house we have been living in and renting for the past 5 years and find something we can grow in to and actually own.
Our criteria included: 3 or 4 br, 1+ bath, single family home with a yard, no mello roos, no HOA, no pool, direct garage access (2 car garage), big enough lot to expand, good school districts, in northwest orange county. We also wanted to be cose to my parents (my mom watches our daughter during the day).
We recently came across a "price reduced" 4br/2ba 1500 sqft single family home that met all of our criteria. It was a short sale that was purchased at the peak of the market in 2005 for $675,000 and was now priced well, well under $500,000, with the bank agreeing in the market to take a massive hit. For the money it has laminate wood floors, new baseboards, new maple cabinets with granite counters, drywalled and epoxied garage floor, upgraded bathrooms, new double paned windows, french doors, corner lot. Pretty much a real gem in the price range. After negotiating our price down and our offer was accepted. Fortunately for us it was, as this past weekend following our offer, the house had 6 offers on it.
We opened escrow on Monday and today we meet the home inspector and the appraiser. GMAC, who currently holds the mortgage, wants to close by Jan 18th, so we are hoping the process goes smoothly.
We already have plans for our new house. New interior paint and carpet in the bedrooms, and a new color scheme on the outside of the house (we aren't fond of the goldenrod color), along with nice shutters on the inside and simulated shutters on the outside to dress up the front. We also are probably in for a new roof soon (any good roofers reading FW?). We also can't wait to add a dog to the family.
What does this mean? Well it means our savings is blown, but for a good cause. Thank godness for no debt! It also means I may have to part with my beloved Colonel Mustard, so if there are an serious inquiries or offers out there, let's talk. I can be reached at firstname.lastname@example.org.
Wish us luck, and Happy New Year from the Holman family.
Tech Editor - Four Wheeler Magazine