We're House Hunting!!!!
   I'M SO EXCITED TO FINALLY BE HOUSE HUNTING!:excited:
Fingers crossed we're in a new home for Christmas! |
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Wow that is great!! You have already seen 3 or 4 you like IN ONE DAY??? Holy moly you must be having a great time  That is so exciting. You know what you have to do.. pics pics pics ..
EDIT: I just thought- don't forget to get your post diverted or whatever you do over there, you don't want to miss your sheepie cards! |
Hint of Mischief wrote: Wow that is great!! You have already seen 3 or 4 you like IN ONE DAY??? Holy moly you must be having a great time
That is so exciting. You know what you have to do.. pics pics pics ..EDIT: I just thought- don't forget to get your post diverted or whatever you do over there, you don't want to miss your sheepie cards! hehehe.. I DID think of the Sheepie Christmas cards first; thanks for watching out for me on that! the market here is really good for buyers right now, and I knew that when we started. I just didn't realize HOW good. We are pretty laid back on what we want, provided it has a couple of very specific things. We need a bedroom and a guest room, plus two spaces that can be work studios; one for myself and one for Adam. We both work from home, and we could use some 'personal space". We want a good sized yard for the girls; fenced or unfenced. We are okay with doing the fencing. And we'd like a neighborhood that is walking distance to pubs, coffee shops, restaurants and the like. Working from home gets dull; its nice to walk the dogs out to a coffee shop and work there! |
with this market you can afford to be more picky. it will be surprising how littlethings make a difference. when we were house hunting a few years ago I looked at tons of houses first and ruled some out because I didn't like things or I just knew something wouldn't work for dan. finally one day dan went with me - and th efirst hous ewe went int o he was like - no the bathroom id too small  I never thought he would have an opinion about the size of bathroom 
try noting what you lioke and don't like about your current space - little things like the cabinet inthe kitchen that opens onto the dishwasher etc and make sure you check those things out. House hunting is sooo much fun - if moving wasn't such a pain I would do it every three or four years  |
| How exciting, Alison! I like looking at new houses, too. Enjoy yourself, and do pay attention to the little things, like Kerry mentioned. In few months, you'll be very glad you did. |
| How exciting!!!
I love house hunting, I just hate moving.... 
I did get to go house hunting for 2 of Todd's brothers, and it was a blast. They were getting out of the military and moving back home with their families. We videotaped the homes and sent the videos to them, and we all had a great time. So fun - zooming in on flooring, outlets, windows, closets - all the important stuff. The realtors thought we had a good idea.
One brother did end up purchasing a place we found! |
I LOVE house hunting too! Good luck because it is exciting!!!!!!!!!!  |
Good Luck...you ARE going to let the forum pick from the final 2 aren't you????? 
Keep us posted... |
| Good luck , I hope you find the right one, we DID, I fell in love with our new house just driving up to it and then went inside and loved it other than a few minor things that I will have redone |
sheepieshake wrote: Good Luck...you ARE going to let the forum pick from the final 2 aren't you?????
Keep us posted... final Two? We've gone out now 2 days, for about 6 or 7 hours each day, and have seen about 6 we'd gladly move into. However, I think we found "the one" today, and Adam loved it, but doesn't want to commit. He wants to keep looking... and they are having an open house this weekend. Sigh. If its meant to be, it will still be waiting for us after seeing a few more I guess.  |
| House hunting is fun but don't get caught up in the excitement. What I mean by that is almost every house you see, you like. Try to imagine yourself in the house, where you would put furniture, go into the kitchen and imagine yourself cooking. Where would you put your food? Is there enough space? Bedrooms big enough? Will your bed and dressers fit?
Its so easy to say "yeah I like this one" and you get in and its not big enough. Or the furniture shrinks a room. One thing I didn't think of is how a dog shrinks a room Two of them rough housing takes up most of the house.
I know you said you want a yard big enough for the girls. I wanted that too for my boys. I got it and now I wish it was a little smaller. Its a lot of lawn to take care of and picking up after the dogs takes a while. I was out raking leaves today and raking and raking etc...my hands hurt. I only stopped because I was about to get blisters and I was wearing gloves. Other then that HAVE FUN!!!!! |
| I love house hunting! My husband hates it. I find it very exciting. Hope you find what you like! |
| well we've been out 2 days now, and on day one we found 3 we could move into right away that we liked a whole lot. Today we found 2 or 3 that with some work, could be really great. And then the last house of the day, I we fell in love.
Adam is afraid to commit this early in the process. He wants to look at more neighborhoods. I'm afraid to lose this one; its so perfect and in our price range. So we'll see what happens. Adam has gone for one of his "long drives with a cigar"; something he doesn't do unless he's got alot on his mind. I suppose if its meant to be, it will come together for us. If not, there seem to be soooo many great houses out there right now. |
We saw our house/farm the very 1st place we went to. 
We liked it, but then thought we were being too easy and decided to look at more. Sure enough, we really did like this one best...so we bought it!
If it seems like a good fit, then don't wait too long. Although if they are having the open house, they probably wouldn't accept an offer right now - instead wait to see if they get more. But you never know - they may be really eager for a sale and accept an offer that is close or at their asking price. |
| sadly, the open house is the same day and time as our Sheepdog Day in the Park this weekend. I'm trying to convince Adam to go back with a couple of our friends, to get outsider's opinions. But all three of them (Adam and our friends) want to come to sheepdog day. |
| you should narrow it down to 3...like ''house hunters'' and then post the pics of each and see which one we'd pick...then tell us which one you chose! |
| Be honest girls
Would it be any less exciting if the subject was Shoes Handbags Well anyform of shopping really
Just with a house you don't bring it home you bring yourself to the home. Most importantly take your time and in these difficult financial times don't over stretch what you can realistically afford, don't let the sales person say "oh for another 10-15,000 dollars you'd get......." |
| I remember thed time I purchase my first home - a little started home on a cul de sac that was close to shopping, schools, park and family oriented.
My partner and I at the time were so picky and had a wish list that was long (they tell you you'll never get it all the first time due to price limitations on first house). We fell in love with the very first one we saw (for sale by owner)but as we were so new at this we felt we couldn't commit to the 1st one. We saw over 80...a majority were drivebys and perhaps saw inside of 20. We drove the realtor nuts. One night he calls us and says I'm standing in the home I know you're going to buy. We went over and LO and Behold it turned out to be the first house we had seen!!!!! Previously for sale by owner who decided to get a realtor after all. The house I just purchased...didn't even intend to move at all and had no intention of evening buying another place....saw it , loved it and didn't even look at any others, put in an offer I think your heart tells you which one is the best, your logical side says "wait maybe we'd better look at more just to be sure". I think if you love it..buy it as you know deep down which one feels like "HOME" the moment you step into it. Best wishes to you! Marianne |
| Well Adam and our two friends are compromising; they will go to the Open House right when it starts, and then meet me at the Sheepdog day for the rest of the afternoon.
I really feel strongly about this house, and we've seen about 15 so far. This one is just so different, and right in our price range. Its not that far from where we live now, so our routine wouldn't be too different either. So I could keep the doggie daycare I like, and we can keep seeing our trainer at the gym; stuff like that. And it has a huge yard, the lot is 3/4 of an acre, in Atlanta. So perfect for the girls to run! We'll see what Adam thinks after the open house and his second walk through. |
| you can set up to see it again with the realtor - telll them you want to see it again and bring your friends - we went back three or four times to the house we bought - and when you get the "this is it" you know its the right "home" |
kerry wrote: you can set up to see it again with the realtor - telll them you want to see it again and bring your friends - we went back three or four times to the house we bought - and when you get the "this is it" you know its the right "home"
well that's just it; when I saw the listing online, I thought " Adam will love this; we HAVE to see it". When we walked through the door, he actually went nuts for how cool it was. And when I saw the huge kitchen, the multiple decks, and the large yard, I was blown away. Fingers crossed, it doesn't sell to someone else before Adam decides its the right one. Me? I'd happily live there in a heart beat. But I promised myself I'd not force my opinions on Adam. We have to come to this decision together. |
| Good Luck on the new house!
How exciting!  |
| well after taking a deep breath, and looking again over the long list of houses our realtor emailed us, we re back out looking at another neighborhood on Thursday. As much as I want to say " we found the one", we've only really looked 2 days, and at about 15 houses. So rather than be silly and rush into something, we are going to look some more. The area we'll see on Thursday had TONS of homes that look perfect for us, and I had forgotten about them until I went back over the listings last night.
though one of my friends pointed out that the home that is our top contender right now, has a room that can be easily converted to a grooming room. Makes my heart go pitter-pat. |
| wow that is so great nothing like owning your own home.. make sure you get a big back yard |
suzptcruise wrote: wow that is so great nothing like owning your own home.. make sure you get a big back yard
we've been looking at some HUGE backyards; thats definitely on the list. |
| Thoughts of a grooming room make my heart go pitter patter, too. Everytime I think we're ready to start on mine, something else comes up that has to be done first.
Have fun with your search and do take your time. You're definitely in a buyer's market right now, so take advantage of it! |
| OMG! OMG! OMG!
After looking at nearly 40 homes, we've found 2 that we adore. One is out of our price range; the other nicely under. Today Adam decided to make an offer on the one that is too high; to see if they will take it. This house is literally our dream home. And he said if they don't accept then we'll make an offer on the other home we liked so much. We looked at both homes today. One is so amazing; everything we ever wanted, and never thought we'd ever see in new construction. The other is so ideal, with tons of space; and can easily in time be made into something very much like the first home. After seeing both houses in one day, I walked away really feeling like I'd gladly live in either one. We could also be in either in time for the New Year. Keep your fingers crossed for us!!!! |
| Luck and best wishes! I hope you get the one you want and for the price you want. Things will go both fast and slow from no till you move. The day you move will crawl, and then it all speeds up again. Then you never will want to go out, you will be so content just being "home". I hate when I have to leave home on most weekends. |
| thanks!!! Both houses have big yards for the dogs,a nd rooms to be converted into grooming rooms. So I'm sure my weekend will be quite busy with lawn care and dog grooming! |
| How exciting!! Finger's crossed. |
| How much time do they have to accept or counter offer? Waiting is awful! |
| well we are going to make our first offer on Monday; I expect we'll hear back pretty shortly after that. The guy selling it claims to be on the brink of foreclosure and bankruptcy. So I think he'd let us know rather quickly if he can take our offer or not. If he passes on our offer; the second house has an estate waiting for the settlement, so again I think it would be rather soon if we heard if they will accept our offer or not. Perhaps this time next week we'll have some news. |
| It sounds like a good plan - good luck with the offers!!! |
| Best of luck to you |
| I hope you get it! |
| Good luck Allison!! |
| Good luck Allison! I just picked up on this thread, and I am also a Realtor in Woodstock. PM me if you need any "inside" poop or tips. Negotiating can be such an emotional time! |
| Hope you get your house! I love Househunting too!! But moving is horrible, I had enough as we moved in April. The house is still full of rubbish I shouldnt have taken with me and now I have to start sorting it all out and it's cold outside so I wait for the warmer weather!
Good luck though and post some pics when you got it!! Where are you moving too????  |
| I'm a bit late with this but I love house hunting, and then there is the whole moving in day which is great (though exhusting) and then starts the shopping for all the things you need for the house.
Oh what fun... I love it
Enjoy yourself!! |
| Good luck! All will go well! |
| ok; some weird surprises came up:
the guy about to foreclose on the second home we like suddenly thinks he can wait until February if we can get a larger loan after our 2008 taxes are done (we've been assured we can get a loan enough to cover the more expensive house then). Bu rather than wait, we met with a different loan company today to see if they can get us approved for more now. here is the house we are talking about: Dream Home just out of our loan range Link meanwhile; the first home we liked so much called our realtor to make US an offer! And they say we can close by December 31st. The First House we saw and still love tons Link Both houses are on 3/4 of an acre. Both have about the same square footage. both have a room I can convert into a grooming room. Both are perfect. We really can't decide and are sort of hoping that one or the other house is unattainable for whatever reason, so we can just go with the remaining one and not have to decide. |
| The "dream home" is beautiful and that woodwork is to die for. I can totally see how that would be tempting! I would be a little leery of the deal from the current homeowner though - on both sides. He could sell the house to someone else OR just plain change his mind. And you guys are hoping to qualify for a larger loan but -- remember the economy and not knowing how things are going to pan out over the next year or two, it might be a better bet to go with the home you can easily afford without having to take out a larger loan.
Just my thoughts...they're both beautiful. I'd totally lose all reasonable-ness for that woodwork myself! |
| the woodwork is amazing; but both homes have the sort of space we need, and the first home has wide open space, that we can have amazing wood working done to at a later time. We're so torn...
we can afford the larger loan. we just need to decide which house we like betters.... I guess it could be worse; we could have found nothing we like. |
| Wow, they both are so nice.
What will the 2 of you do with all those bathrooms in the newer one?? I have one, and I hate cleaning it! ( i do though - it is a peeve of mine - nasty bathrooms totally gross me out!  )
Nice that they both have all the features you want. What one makes you feel more creative?? Important for you guys! |
| I like the kitchen better in the smaller house, and the light seem better in that one too. Being as you are both artists...that could be a plus. I love the other house too, but both being freelance, it probably does make more sense to go with the lesser loan. I can see why you are torn though...all that woodwork is so warm and inviting.
Good luck...I don't think you can go wrong either way!!! |
Darth Snuggle wrote: we can afford the larger loan. we just need to decide which house we like betters.... I guess it could be worse; we could have found nothing we like.
Well hells bells then go for the woodwork!
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got sheep wrote: Wow, they both are so nice.
What will the 2 of you do with all those bathrooms in the newer one?? I have one, and I hate cleaning it! ( i do though - it is a peeve of mine - nasty bathrooms totally gross me out! )Nice that they both have all the features you want. What one makes you feel more creative?? Important for you guys! One bedroom will be ours; one a guest room. One will be my drawing studio. that leaves 2 additional; we could make one a sewing room and one an office for our assistant. Or maybe Tonks and Luna could each have their own rooms... We love the one with all the wood working. Its so traditional American Crafts Movement; which we both are very excited about. But I have to wonder if all our Star Wars and Comic art is going to work in that house (I'm thinking not). But its nice to think we could live there, and not need to do any work to it at all, and that we'd not likely grow to fill it up anytime soon. The other house has really nice space, and seems less committed to a single style . So if i wanted to make our living room Craftsman I could, but the den could be wall to wall comic book art... But it would be some work to finish the rooms the way we'd like. However i do prefer the bathrooms in the Craftsman style home.... So hard to decide! I'm hoping that we either get declined for the larger loan, or that one of them sells so we don't have to decide. |
| Love the woodworking in the first one, Good luck on whichever one you decide on |
| I love the Craftsman style home, and I think you can have your style of art in there. Makes it your home
The kitchen in the older home looks great though. Is there a big difference in locations/neighborhoods? |
| totally love the kitchen in number 2 and I m the practical person. I would get the one you can afford and the sure deal and in by new years... that would be mine.... |
cynmcreid wrote: I love the Craftsman style home, and I think you can have your style of art in there. Makes it your home
The kitchen in the older home looks great though. Is there a big difference in locations/neighborhoods? Locations and neighborhoods are dramatically different. Both are in "Atlanta"; however the second home is in a very good neighborhood attached to Emory University. Good real estate investment area, and very residential. the Craftsman home is in East Atlanta, in a transitional neighborhood. Its far more urban, and its sort of being gentrified as we speak. The other big difference is that the second home is only about 7 miles from where we live now, and we can travel to all the things we do now (go to the gym to see our trainer, the dog park, stores we like) using surface roads, with little disruption to our regular schedule. The Craftsman home is in a different part of the city, and we'd be taking highways through downtown to get to things we like to do now. the gym we go to would officially be "too far away" and the trainer we have worked with for the last 5 years would be about an hour drive to see. And the dog park we like would be a pain to get to as well. Of course, there could be new parks, and new gyms and such. But we love our park, and our trainer. So that would be tough to replace. |
TylersMom wrote: totally love the kitchen in number 2 and I m the practical person. I would get the one you can afford and the sure deal and in by new years... that would be mine....
We can afford both, we just can't get a loan for both. As freelance artists, we are having a hard time securing the home loan we need, since so much of our income is flexible, and not reported on W-2s and such. 2/3 of Adam's income comes from the artwork he sells, and not from the companies that write him paychecks. So even though that money goes into our accounts and gets claimed as income on our tax returns, its a bit baffling to the lending industry. and with so many problems with lending right now, they are being ultra conservative and we need them to be a bit more creative. |
| From experience I will say this
Location Location Location! This is a huge amount of money and your life. Buy in the best neighborhood you can afford! With that being said, I would have my offer in on the second one now... But again that is me, it also sounds like you have a lot to lose with the first one.... trainer, health club, dog parks. Remember dog parks are very territorial, and I'm speaking of the people not the dogs. Just saying and I know it's my opinion only.... |
| Go with your gut. And remember, the real estate market is in severe depression in Atlanta now. Do NOT be afraid to make a low offer -- don't worry about "insulting" the seller. Most sellers would be thrilled to see ANY offer in this market. You would be surprised at what sellers and even builders are willing to do to get houses sold. The worst that can happen is they reject it, but you can always go higher. Try to be as objective as you can -- pretend you're buying a car! If you can't qualify for the loan for your dream house, ask for a lease option or seller financing. It CAN be done! |
| wow - the craftsman is georgeous, but th elight and the setting with the trees out the windows of the other one is equally incredible. It may be my finance background but the difference int he prices would decide for me if I was that torn. you could have a lot of work done on the cheaper one for the differential. |
kerry wrote: you could have a lot of work done on the cheaper one for the differential.
see; thats the plan, too! That one has a completely unfinished daylight basement with 14+ foot ceilings. What we don't spend on the mortgage will be spent on that basement anyway. We're really torn... |
| I am a sucker for good light. |
| Okay, I've chosen my option....location, great light, great kitchen, less disruption of your lifestyle, and great party deck |
cynmcreid wrote: Okay, I've chosen my option....location, great light, great kitchen, less disruption of your lifestyle, and great party deck
I agree. And I just trust the construction in a bit older, more solid house. The newer ones scare me. |
| I looked again.
The first one. There's no question which one I would choose. The only thing I'd be doing is painting a few rooms (sorry, just not into hot pink in the dining room!) but other than that, it's perfect. Room to grow, beautiful lot, priceless craftsmanship. I'm sold. |
| okay; Adam and I had a serious pow-wow. We have decided to make an offer on the Not-Craftsman bungalow. We figured for the $100K price difference, we can add alot of the "icing" to our cake that the Craftsman home had. And the neighborhood really is a much better investment for us personally in terms of our lifestyle, and financially as well.
BUT we aren't giving up on the other house yet. We are going to make an offer and get an inspection done; if the inspection doesn't go well, or our offer is declined, we can still consider the Craftsman if its still available. |
| sounds like an excellent plan. oh you are going to have a happy new year!!!! but I warn you - packing is never as easy as you think it will be. and you will be doing it alone - men are just no good at it. |
| Woo Hoo! a decision! I bet that feels good. When Lee and I looked at houses, we looked for a long time on our own, then we got a realtor and got serious. We had our first day of go sees. I didnt' think we could afford a detached house, so I was all set to see condos and THomes... She took us to see the one detached home on her list, then to all the others, and we put an offer in that night. I never regretted the purchase and we still can't believe that we bought a house... The detached one!
So, good luck and I hope what ever it is you want in a home, you will get. Also, when you get to design the lower level, you will be happy that it is to your specs and not someone elses... you are very creative, you can probably do a lot more with the space than someone else may have thought... |
| Good luck! They're both lovely homes. |
Decisions, decisions how I hate them I wasn't even looking for a new home but went with dil to see the home they had bought and past a house that I fell in love with from the outside,phoned the realtor and asked to see the house, she came I walked inside and that was it, went home talked hubby into buying it and now here we are and still loving it  |
Which one is the craftsman house? I am confused. Is it the less expensive one?  |
wendy58 wrote: Which one is the craftsman house? I am confused. Is it the less expensive one?
no; the Craftsman bungalow is the one selling for almost $400,000. "Craftsman" refers to a architectural style that was prominent in the early 1900's, and reflected something akin to a Frank Loyd Wright style or the arts and craft movement. |
| OK...that makes sense. The stained glass in the window's remind me of Frank Lloyd Wright houses. We have a few here in L.A. too. |
| They are both gorgeous, but I'd go with the better location. And the price is right Thank you for sharing with us! |
| I still like the first one better. I love that from the front, it looks all tiny and then it's a huge surprise when you get in and its huge! Robbers will be less likely to target you. |
ButtersStotch wrote: I still like the first one better. I love that from the front, it looks all tiny and then it's a huge surprise when you get in and its huge! Robbers will be less likely to target you.
I agree with you; I love "visual surprise homes"; homes that look like on thing from the outside, but once you get in are something completely different (in a good way). |
| But the second home is just as surprising with the room inside. I vote for the second home for the reasons mentioned - less expensive, closer to places you now use, PHENOMENAL kitchen, wonderful light. The Craftsman home is nice, but those room colors turn me off. Think of all the primer needed just to cover them before painting! |
Drezzie's Mom wrote: But the second home is just as surprising with the room inside. I vote for the second home for the reasons mentioned - less expensive, closer to places you now use, PHENOMENAL kitchen, wonderful light. The Craftsman home is nice, but those room colors turn me off. Think of all the primer needed just to cover them before painting!
yeah I was shocked by the room colors. With everything else in that house being so amazing, HOW did they drop the ball with the paint? We're meeting with our realtor this afternoon to make an offer on the second house. I'll let everyone know how it goes. |
Darth Snuggle wrote: wendy58 wrote: Which one is the craftsman house? I am confused. Is it the less expensive one? no; the Craftsman bungalow is the one selling for almost $400,000. "Craftsman" refers to a architectural style that was prominent in the early 1900's, and reflected something akin to a Frank Loyd Wright style or the arts and craft movement. Oh how I adore craftsman bungalows. But it sounds like you have made the right choice. Good Luck! |
Sheeps over Aces wrote: Darth Snuggle wrote: wendy58 wrote: Which one is the craftsman house? I am confused. Is it the less expensive one? no; the Craftsman bungalow is the one selling for almost $400,000. "Craftsman" refers to a architectural style that was prominent in the early 1900's, and reflected something akin to a Frank Loyd Wright style or the arts and craft movement. Oh how I adore craftsman bungalows. But it sounds like you have made the right choice. Good Luck! Adam and I feel the same way; thats why it was SO hard to decide for us. We love love love Craftsman Bungalows, and this one was so well built...! But with all the things we want to do to the other house, over time, we reason we can add alot of the craftsman elements we love so much. We have already agreed to finish off the daylight basement in an Arts and Crafts way, to start the process of converting the entire thing eventually |
| The finish of the basement in the decor and style you like is a great idea. I really think over all, you will be very pleased with your choice. With this area, you don't have to wait for it to improve and in this economy, it could be a very long time before the other neighborhood does. People are more interested in making the payment than improving the home... There is not a lot of extra money in budgets today in most homes. And less in areas that are iffy at best.
We have been in our home for 7 years and it was at the top of what we could afford. We are just now getting to do a remodel on our kitchen, and boy did it need it. I had a 40's kitchen and while that may sound charming, the reality is that it is not at all charming when you have no counterspace, no storage space and old plumbing and electric, not to mention the crumbling tile counter top that scared me, every time I looked at it, I could see the germs growing between the tiles... or at least I thought I could. If you look in camera below, you will see some of the work we did... The most important component of a real estate, is the location! then comes the number of baths and beds and lot size. Don't fall in love with the wrapping of the package, fall in love with what is in side the package. You can make any house a home... even a crappy little one that was built in the 1940's.... ooops, that's me... Good luck with your offer and enjoy the experience and don't be too shocked at the stack of papers you have to sign at closing... it's really a shocker and writers cramp... Best to you both and I know which ever happens you will be so happy! |
| so; an update with not great news.
We made an offer; and they countered. Meanwhile, we contacted out mortgage guy, who at the very start of it all told us he could get us into a $XXX,XXX dollar home if we had $XX,XXX to put down, which we did. We had $XX,XXX times two to put down, if we needed it. But now, suddenly when we need to get our mortgage in order, he's saying we can't get that much, and therefore can't buy this house, or any other house we've been looking at. He didn't even consider the larger sum we could put down. He just told us no. Adam has very good credit; and we have anywhere up to 40% to put down. Which i my opinion is a ridiculously large amount. But our loan guy who had previously pre-qualified us, has left us high and dry. and a second loan guy that we met with, who said he's get back to us in a couple of days with an approval, never got back to us at all. Both were recommended by our realtor. So we have an offer on a home we have no mortgage for. Adam is furious and upset all at once, and I'm scrambling to find a different mortgage broker. Things are just not going smoothly. |
| ah the credit crunch is hitting everywhere. Hopefully it will all be sorted out and this will be the only bump in your quest. try a bank instead of a mortgage company - some of them are in better shape. |
| Ohhhh that is horrible!
I hope you get this all straightened out. |
| I don't know who your mortgage guy is, but you should be working with at least one independent mortgage broker. They usually have access to the best rates and the most flexible lenders if there are any still out there, and they work with (have relationshipswith) different lenders.
Assuming you are alerady working with a broker (or two, or three) start calling the local banks in the area where you're trying to buy. I don't know what the current condition lending practices are, but the deal used to be: No more than 28% of your monthly gross income to PITI* No more than 33% of your monthly gross income to PITI plus all other debt Two years at the same job or (at a minimum) two years in the same industry with 6 months on the job. * PITI = Principal, Interest, Taxes and Insurance. The Principal and Interest are the mortgage payment itself, the Taxes are the real estate taxes and Insurance is the homeowner's insurance (and any PMI (Private Mortgage Insurance for those with less than a 20% down payment.)) East/West Mortgage has been advertising around here that they have money to lend; I don't know what their deal is. |
| I will keep my fingers crossed for you.... and good thoughts brewing all weekend long or until you tell us that it's a go....
You know, that just sucks. They tell you, go get prequalified, show the letter to the agent.... and then you know what your shopping parameters are... then when you do, they pull the prequal. and say, oooops, we can't do that... Did you guys ask if you had someone co-sign for you if it would work... like a parent. I know it's really shitty to be grown up and have to get a co-signer, but if it gets you into a house, then I would do it if they would accept it... just a thought. L |
| As a Realtor, sad to say we are seeing this same story time and time again. You might try a credit union if you belong, and previous suggestions of local banks are also good. Be aware that mortgage brokers charge a handsome fee for what they do, but everything is negotiable. FWIW, I'd stay away from internet lenders, I've just seen too many horror stories. And don't forget you can ask for seller financing. They may say no, but it doesn't hurt to ask, especially if you can make it for a short term - say 5 years - until we get out of this mess. |
| neither Adam nor myself had parents that can co-sign so thats out.
Neither of us is in a credit union; so that is out. Part of what is biting us in the butt is that we are freelance artists. Adam incorporated last year; so he only has one tax return as his own employee and his own company. In 6 weeks the year ends, and we can do our 2008 tax returns. We've been told that at that point, we can get an extra $150K on a loan. How stupid is that? right now we are $50K short, but in 6 weeks we'll have a $100K surplus. But no one is willing to use Adam's paystubs or payroll print outs to prove his income.... And no one seems to care that we have a large sum to use as a down payment. Seems all the lending institutions have been so burned, that they are making it very hard to get the loans. I heard a radio NPR article about it a day or so ago; how the Government bailed out the bank and loan industry, and they in turn are not using that money to re-invest in the community through loans, but rather keeping it in vaults "just in case". Seems the government is mad about this, but they gave the bail out money without specific stipulations for its use. Its sort of a slap in the face to be the "tax payer" that paid for this bail out, only to be turned away for a mortgage loan. |
essgee52 wrote: Be aware that mortgage brokers charge a handsome fee for what they do, but everything is negotiable. You're just the person to ask about this!
I always thought the same exact thing, but I gotta say the last time I refinanced, I got a lower rate than was being offered anywhere with no points and no closing costs. If there was a fee to the broker other than one coming from the lender, I don't know where it was. Any thoughts? PS My previously great rate of 5 3/8% for a 30-year fixed is certainly going to be eclipsed (on the lower side) ... Another great resource is http://www.bankrate.com. Just be careful to know whose site you are on at any given moment, you might accidentally take yourself to a different place. |
Darth Snuggle wrote: In 6 weeks the year ends, and we can do our 2008 tax returns. Well, your situation might be modifyable.
Pay yourselves your final 2008 payroll now, and issue yourselves your 1099s or W2s or just figure your schedule Cs now. The 1040 for 2008 is already available: http://www.irs.gov/pub/irs-pdf/f1040.pdf |
Darth Snuggle wrote: neither Adam nor myself had parents that can co-sign so thats out.
Neither of us is in a credit union; so that is out. Part of what is biting us in the butt is that we are freelance artists. Adam incorporated last year; so he only has one tax return as his own employee and his own company. In 6 weeks the year ends, and we can do our 2008 tax returns. We've been told that at that point, we can get an extra $150K on a loan. How stupid is that? right now we are $50K short, but in 6 weeks we'll have a $100K surplus. But no one is willing to use Adam's paystubs or payroll print outs to prove his income.... but unless he didn't file taxes he would have other years to share as well - if the issue is the amount of claimed income compared to earlier tax forms, or an increase in income you might have a better time with a small bank. Unfortunately (my husband is a banker) many self employed people have previously been allowed to claim more income to qualify for a loan, than they file taxes for and banks are now having to be much more particular and make sur ethe two match. it may be making them jumpy. |
Ron wrote: Darth Snuggle wrote: In 6 weeks the year ends, and we can do our 2008 tax returns. Well, your situation might be modifyable.Pay yourselves your final 2008 payroll now, and issue yourselves your 1099s or W2s or just figure your schedule Cs now. The 1040 for 2008 is already available: http://www.irs.gov/pub/irs-pdf/f1040.pdf
um... okay. Wow. Didn't know we could do that. THANKS RON!!!!! |
| yeah, the whole housing thing is nuts right now. My dad is a realtor and he was the agent for a $2.5million house. The neighbor across the street wanted to buy it. Her house was bigger and more $$, but would take time to sell. So, she offered to pay over half cash (this is over 1 million dollars, people!) and then get a loan on the rest...and was denied. She offered to pay over a million cash, plus owned a home that easily is worth more than the one she wanted to buy and was still not allowed to get a loan. It's just crazy. |
| Darth!
i haven't talked to you in some time -- too bad it's now with this yucky news you have. times are really tricky right now - every star has to align just so before you get that mortgage. just keep at it. persistence always pays off in the end. PS i was recently showing someone your website -- of course, they loved it! |
Quote: I always thought the same exact thing, but I gotta say the last time I refinanced, I got a lower rate than was being offered anywhere with no points and no closing costs. If there was a fee to the broker other than one coming from the lender, I don't know where it was. Any thoughts?
There are so many variables, it's hard to say. To the lender, it's all in the total yield, which includes the interest rate, up-front fees, closing costs, etc., etc. The only way to tell for sure is to compare the APR (which by law they MUST disclose in advance) and the total interest to be paid over the life of the loan from one lender to another. Lots of times, they increase the loan amount to cover some of these costs. They are (or more accurately, were) very creative in getting the most from the borrower. Now they just won't loan anything to anybody! |
| okay; here's our update....
I wish it was better news. After going back and forth, we have come to a price we all agree on, and its within what I felt we should be paying. the buyer had his realtor call our realtor with the details, so its not in writing and signed, the way its supposed to be. Our realtor is doing that tonight, and faxing it to them to sign for tomorrow. Fingers crossed; this could work. But we still have no loan. We have about 30% we can put down, and our only debt is my car loan. We have no credit card debt; and no other mortgages. Adam also has what is considered to be a very good credit score. But with the housing/mortgage crisis, they are making it impossible to borrow. We are being told by our third mortgage broker that maybe we can get a loan in February, with our 2008 tax return. Never mind that we have pay stubs now for all of 2008. The Govt. won't allow anyone to file a tax return before January 15th, in case they decide to change tax laws between now and then. So we are waiting. AND th mortgage companies want to see the returns on Adam's business as well, so we have to wait for those forms to come in, and then he can do that return. We will be trying Wells Fargo tomorrow. But we've been warned that every time we try this, our credit records get pulled, and every time that happens, the score goes down just a little. So we have to stop at some point. |
Darth Snuggle wrote: The Govt. won't allow anyone to file a tax return before January 15th, in case they decide to change tax laws between now and then. You could change your tax year. Oh well, I thought it might work. Sorry.
GRRRRRRRRR. Well, on the bright side, maybe the market is so crappy right now that if you wait there won't be another buyer, AND perhaps the price will be lower. Wish I could be more helpful. |
| Thanks Ron.
Its not the end of it all for us, by a long shot. While we still await the new signed contract, should they sign it, there's an agreement to hold the house off the market until the end of February, pending our tax paperwork completion. Of course we had to pay for that allowance, but not so much that we'd mind, if it means we can get this house. My concern now is that in February we'll get told a different story again. Seems we aren't having alot of luck with the mortgage industry sticking by their word to us. |
Quote: But we've been warned that every time we try this, our credit records get pulled, and every time that happens, the score goes down just a little. So we have to stop at some point. I'm thinking this is not the case, that when you're shopping for a loan it's considered one inquiry. You could make a call to Equifax (here in Atlanta) to make sure. Quote: Seems we aren't having alot of luck with the mortgage industry sticking by their word to us.
I feel your pain, and you are not alone. Personally, I have no sympathy for these lenders that got us into this mess in the first place and now are continuing to screw up the market so that everybody loses. I still think seller financing (short-term) might be your best option, or a lease purchase, which is basically a lease with an option to buy at an agreed-upon price. You can always opt to NOT exercise the option if the market continues to go down, and then renegotiate a price more favorable to you. So it's basically a lease, but it makes the seller feel a little more secure. |
essgee52 wrote: I'm thinking this is not the case, that when you're shopping for a loan it's considered one inquiry. You could make a call to Equifax (here in Atlanta) to make sure.
They don't care who is looking. I shopped around when I was looking for my mortgage and my credit score dropped @ 25 points in one month due to all the different loan companies checking my credit. I was told by the woman I got my loan through, that if I did try to get another loan in the future I should pull my credit score myself. You need to tell the lenders when you are first talking to them that they do not have permission to pull your at this time. (Don't give them your SS # until you have a rate quoted and you are happy with it). You can provide them with your credit score and the date you obtained it, also a copy of your credit score from all three credit bureaus. You are entitles to one copy of each per year. They will pull your credit again right before the loan closes, so as long as nobody else is requesting your credit scores it will be the same as in the Credit Reports. But do not allow them to pull it. |
| hmmmm since employers (or potential employers) also look at credit scores wouldn't that hurt someone looking for a job who maybe turns down an offer or two? |
| No, that's different, they are not running your credit report, just looking at your credit score. Inquiries on credit scores are done all the time by marketing companies, they do not affect your credit score and permission is not required by you.
Loan companies look at the full report which shows your debts, outstanding loans...etc which would count against your if you are looking for a loan. Each time you give a loan company permission to pull your credit report it is a mark against you. |
| don't some look at the full reprot - I think states, like Florida for one does. |
| declined by another mortgage broker this morning.
really losing hope right now. We are supposed to sign a contract this afternoon, but we can't seem to get any takers on a mortgage for us. |
kerry wrote: don't some look at the full reprot - I think states, like Florida for one does.
I don't know, it may depend on what the state allows. You would also need to give them consent to pull your report if they were pulling the full report. I asked a lot of question after my credit score dropped so drastically when there was no change in my credit when I was getting my mortgage. I do remember when I was hired at my last full time job and they told me they would be looking at my credit score, but informed me it would not affect my credit if they did look. It's possible that if it is for a job inquiry, that different rules apply. But I am not a Credit Expert, just a Former Real Estate Agent and a Homeowner. |
Darth Snuggle wrote: :( declined by another mortgage broker this morning. :ghug:really losing hope right now. We are supposed to sign a contract this afternoon, but we can't seem to get any takers on a mortgage for us. |
| well its been a very long process, and incredibly stressful. And I'm gonna whisper this next bit, so fate doesn't hear me and screw things up....
we're closing on Wednesday. I want to be excited, but we just can't believe its really happening. So we aren't being excited, just very pensive. But I'm secretly, deep inside, sort of excited. Really. |
| Then I am going to whisper.......
fingers crossed for you..... Laurie and Oscar |
Oscar's Mom wrote: Then I am going to whisper.......
fingers crossed for you..... Laurie and Oscar ditto....whispered. |
| Yeah!!!!! |
| Good luck, fingers and paws all crossed here!!! |
| I wondered, but was afraid to ask.....
Yippee!!! |
| I'm afraid too. Seems like so much has gone wrong, and its all been so difficult with the current lending crisis. Even now, we are still only "pre-approved" but are assured we are on schedule for our Wednesday close.
But we ordered new sofas back in January, and they were ready this week. I started online shopping for shrubs and flowing plants. And I have bookmarked several flooring places. I even have been looking at plans to build Agility equipment for the back yard. I'm nervously getting mentally prepared for maybe we're buying a house next week. I wish I could be 100% excited, but this is the closest we've gotten. |
| Is it one of the houses you were looking at? |
| yes; this one:
http://hometouramerica.com/tour.cfm?ad_ ... r_type=mls the link might go dead after Wednesday; I'm not sure who maintains it. |
| Oooooou, nice. A spa bath out the back and I love the huge deck.
Lots of boards and tile no worries re muddy sheepie feet. |
| I'm happy for you. |
| Keeping all fingers and paws crossed here too!!! |
| Fingers and paws crossed here too.
That is a beautiful house! |
| Fingers crossed!!!! |
| It's gorgeous, Allison!
Fingers crossed for you too - yay! Hey, another thought - since you had such a tough time getting a mortgage and it pushed you back this far - can you now take advantage of the $8000 first time home buyer tax credit that went into effect with the stimulus package?? That would be AWESOME!! |
| I think I'm gonna faint; our loan cleared to close this evening. We got the instructions on how to wire our down payments to the closing attorneys. We're getting closer to home ownership!!!! |
| YAY!! |
WOOO HOOOO!!!!   |
| how exciting!!!! can't wait to hear the official great news!!! |
| More good news, I hope it is a new trend!!!
|
| Congratulations |
| I love it! Congrats!! That kitchen looks awesome. |
| I'm super excited about that kitchen! It could use some updating; we'll probably remodel it in the summer of 2010 (unless we have a windfall before then). We might be able to remodel it this summer, but I think I would prefer to put that money towards putting a new fireplace in i the fall. The existent one had a wood burning stove put into it years ago. We want to move the stove to the fireplace in the lower level ( Adam's studio) and have a new fireplace built into the spot of the old one. I'm thinking something very American Craftsman with river rocks and built in oak bookshelves on either side.
Our immediate project will of course be finishing the lower level to be Adam's studio and my dog wash room!!! Fingers crossed everything goes as planned on Wednesday!!!! |
| So...are you home owners now??????? Oops...it's only Tuesday...my bad. |
| AAAAAAAAAH!!!!!!!!!!!! The suspense is killing me!!!!!!!!!!!!!!!
I'm gonna go wash Tonks to take my mind off it all. Then brush out Luna. Then bite my nails some more. I suspect there will be no sleeping tonight. |
| It's Wednesday here .....so by Aussie time you already own the house so I am sending you these cheers but you'll have to hang on til tomorrow to use them ok?:lol: |
little bear wrote: It's Wednesday here .....so by Aussie time you already own the house
so I am sending you these cheers but you'll have to hang on til tomorrow to use them ok?:lol:its too late; I've used your good cheer toasting with my cocktails tonight. its too hard to get much done; so I am enjoying a refreshing cocktail. And grooming the girls. I'm sure we will all look divine tomorrow! |
| I don't see much sleep for you tonight |
| no I don't think there will be much sleep, which is ok. We are supposed to be driving out of town for a convention on Thursday morning; so I can spend some of tonight packing. I know I will get nothing done tomorrow. |
| Cant wait to hear the good news.
I loved the kitchen, cant believe you're updating it. |
| We did it!!!! Adam and I are officially home owners! Woo hoo!!!! |
| Yippee!!!!
That is super news, I am so happy for you both!!!
So, when is closing, and when do you get to move in??? |
| Congrats |
| i was just looking to see if it went through! Let me be the 1stt to send congrats your way! Is your hand sore from all the signing? Thanks for keeping us up-to-date
DANG-IT how did those others squeeze in and do congrats before me? |
| Oh I am soooo happy for you!!!! :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: |
jimzz2001 wrote: i was just looking to see if it went through! Let me be the 1stt to send congrats your way! Is your hand sore from all the signing? Thanks for keeping us up-to-date
DANG-IT how did those others squeeze in and do congrats before me? Yeah, I was thinking I was the first too. |
kerry wrote: Oh I am soooo happy for you!!!!
:banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: :banana: All right guys...YOU DID IT!!!!! |
| CONGRATULATIONS!
And welcome to the "I wonder where the money has gone" club! |
| Sooooo excited for you!! |
| Congratulations!!! The hardest part is O-V-E-R!!!
When are you moving in??? |
| Congrats on your new house!
When's the party!? |
So thrilled for you all 
Champagne tonight? |
VerveUp wrote: Congrats on your new house!
When's the party!? Let us know in advance so we can get time off work!!!
Congrats to both of you. You worked hard to get to this spot and you deserve it! |
| WOO HOOOOOOO!!!! |
| well we are finally back in our "rental" home. We spent a good deal of the night at our new empty house with several of our friends. We had nice bottle of red wine; a nice bottle of white wine, two bottles of Belgian "Kreik", and and assortment of cheese and crackers. Tonks and Luna got a fresh box of biscuits.
We'll probably not move in for a few weeks; we have some painting, and floor finishing, and stuff like that to do. The whole lower level of the house has to be finished before Adam can start working there. So it will be a little while, and even when we start, I think we'll do a gradual moving. |
| That is so exciting!!!!!!!!!!
I am so happy for you all!!!!!! YIIIIIIIIIIIPPPPPPPPPPPEEEEE!!! |
| So happy for you! I knew you would get it, but the fates have a way of making you wait. I think they want to know if you REALLY want it, the fates that is. Cause, we already knew...
Congrats, have fun and pace your self... it can be overwhelming. When the dead line was theirs, like getting the house, it seemed to take for ever. When the dead line is yours, for instance the last day you can stay in the rental, it will move at lightening speed. Set a schedule or time can get away from you. Remember some stuff can be done later, do what is necessary to move in first, then start the other stuff, cause if it doesn't get done, you can still move in cause the important stuff has been done. L |
| yes such great news love the place |
| Well we've had the house a week, and in that time we've met with three different contractors to talk about some of the jobs we need to have done.
I'm about ready to fall over, I'm so exhausted. I'm also terribly worried about the costs. A bathroom that the home inspector insured me was fine, all three contractors agree needs to be gutted. How much does THAT cost? And today we were trying to get a quote for a media room, and the guy wants to put in a mini-movie theater. This is where it all gets scary and expensive, right? I'm supposed to buy my dog bath, grooming table and dryer this weekend, but I'm afraid to spend a dime. I knew this would happen, but now that its happening its so intimidating. |
| Go slowly!
If you can make use of the facilities, then there's no real hurry to get it all done NOW, unless it is leaking water into the subfloor or walls. Relax! You have a lifetime. Do what MUST be done to protect your investment, however.
I'd call up the home inspector and ask them to come back out given the circumstances. I think they ought to come out and have a looksee and you would be well served to give them a chance to explain why it isn't as bad as the contractors are saying. |
Ron wrote: unless it is leaking water into the subfloor or walls.
subfloors and into the basement ceiling. Has caused about $2000 worth of mold damage as well. We had a mold inspector point it out; and say it was fixable. At that time I asked the Home Inspector who was there, if the bathroom would need tearing out to get at the mold properly, and he said no. It sounded off to me then, and now I'm mad that I didn't ask him more questions. |
| Hold on here!
Contractors for the most part are going to always say "Gut it". More money in their pocket. We just did a kitchen remodel and we did gut it, but we did the gut our selves and I had the contractors do what I didn't want to do. Like any electrical work, put in the can lights, add outlets, and dry wall. They did the initial mudding of the drywall and taping. But I did the rest. I finished the mudding and finish work, painted, had floor installed, Lee and I put the cabinets together, and I installed them with the assistance of my little 100 pound friend... including the counter tops and plumbing. We did not move any services, that cut's cost. My kitchen was done, with new applicances for right around 11K. Kitchens are the most expensive. Baths, If you have someone come in and gut the drywall/plaster to abate the mold issue. Then put new greenboard in, have them finish the walls you can do the rest, you can tile, have the tub reglazed, install the toilet, sink and vanity... paint. You should be able to get it done for well under 5K and I'm thinking more like 3K. But you have to manage your contractors and I don't recommend that you use friends... Like Ron said, if you can live with it, do. Pick a project a year, budget it, do your research, see how much you can do on your own. Do the stuff first that is important for the investment like Ron said, the rest is your taste and cosmetic. Doing alot on your own is really good, you learn so much about your home, you learn new skills, you will have pride in what you did and you will save a bundle of money. Hire the stuff that you don't want to do or is over your head, for me it's the electrical stuff. Lee and I did do the plumbing, he did the supply and I did the waste side and the dishwasher (woo hoo, I have a dishwasher, my first in 25 years)... Lee reconnected the gas. We have become very good friends with the guys are our local hardware stores. ( we were there every weekend for months asking questions and taking notes) Really, figure out what is necessary vs. what is "nice to have" Also, when family wants to give you gifts, suggest either cash or gift cards to the local hardware store or plumber that you use... And I can't stress research, enough. as she steps off of the soap box. I'm so excited for you two, getting your first house and it is soooo cute too. What I found after we bought our house is that I would rather stay home than go out... still that way after 8 years in our house. And now with the new kitchen, I LOVE cooking even more. Before you do anything, take photos of each room, and make notes of each room prior to any work. So you can really appreciate the progress. You guys will have so much fun.... I'm going to do our bath this year... I'm looking at vanities, sinks and reglazing and tile, new window, heated flooring.... it's adding up, and it be comes an addiction, so watch out. Leslie |
| Is it just a toilet or just the tub leaking? Those usually can be fixed quite easily...
BTW, my brother had company from Florida this week, and they were telling him that the price for contractors there is WAY down. Last year a high quality painter was $50/hour, now it's down to $15. Be SURE to apply pressue on the labor end of the job. (Push the price down for the labor). |
| Hi,
I'm so happy for both of you and congrats!!! I agree with Ron - go slowly. Even in my current place I am finding things I have changed my mind about a gazillion times. I knew from prior experience of home ownership to live in the house for a while before making any major changes. You may want to have Adam's studio in one of the bedrooms while you decide how you want the downstairs one to be constructed. The natural light flowing in the windows, for example, changes with the seasons and may make you reconsider where you want various walls or ?. Even something as simple as having your arms full of stuff while walking down the stairs may make you change your mind about where you want walls located. I hope that's making sense to you. The best advice I can give and take to heart often myself.."What do you need and what do you want?" Sometimes they are two different things and Need should come first (priorities ect) while the want stuff can occurr over a period of time. At times they are on both list so the choice is easier. What an exciting time for you! There is nothing as fun as having your own place to call home and decorating it to make it you yours. Keep us posted! Marianne |
| Well I had the best house day EVER today.
The Atlanta Pet Groomers Expo was this weekend; and I had plans to attend with my friend Fiona. Fiona generously offered to drive as she has a trucj, which we ended up filling the back of. We shopped hard, but we shopped well. By the end of it I had everything I needed for my grooming room; a stainless steel dog wash (discounted display model, with a ramp, and the faucets and sprayer included) a grooming table (discounted display with adjustable arm and attachable tool tote on the side), forced air dryer (used in a demo, also discounted) two new brushes and a rat tail comb from Chris Christiansen, and about a years worth of shampoos, conditioners, and other goops. I even got the rubberized floor mats for standing on! Now all I need is for the contractors to design the grooming room!!!! |
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