July 14, 2008

I can't sleep because...

We found THE house!
The location is good, the layout is exactly what we want, there's an arbor in the back, a fireplace, and it's on a corner lot. The master bedroom and bath is the only thing upstairs, and the attic has a door and you just walk into it. There's a guest bedroom and office downstairs, so when guests come to stay, they'll have their own space. It's perfect! Except, of course, for the orange spanish-looking tile in the dining room and kitchen. I can handle painting over the hideous faux finish and cabinets.

The price is a little higher than we anticipated, by about $9,900. Our realtor is going to run the comps in the neighborhood and see if we can feasibly offer less (enough less to hit our budget hopefully). Also, it's empty so we should be able to move right in as soon as we get our place leased. And that could have a good effect on the price for us, if we're willing to get it off the owner's hands since they're obviously paying for two places to live. They're probably more willing to help us on the price to get rid of it. Of course that's all speculation and they might just want to hang onto it, but who knows!

We have one application on our house so far. That person wants to lower the price quite a bit, so we're hoping we'll have someone that's willing to pay full price so we won't lose money. If we get our asking price, we stand to make a whopping $5 a month. What a profit! Our old realtor showed the house to someone last week and she said he was interested, but he wants to move NEXT WEEK. If he wants our house and is willing to pay the full price rent, we're out of here!
So, the reason I can't sleep is that today is the day. We'll hear back from the mortgage guy about our appointment tomorrow, and hopefully get our loan application filled out. We'll also hear back on the comps in the neighborhood from our realtor, so we know how close we'll be able to get to our budget on our dream house. And hopefully we'll hear back something on the application(s) for tenants that we have.
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