Anyone own a home? Good update #23

[lizbud]

Well, unfortunately we didn't win the bid on the first home we liked. We were pretty disappointed, but it wasn't too much of a shock.

This last weekend we looked at more homes. The first 3 were duds, but the last one was so nice! It is in perfect condition, and in a neighborhood we both like with good resale value. We put in an offer on Saturday and we find out today by 2 pm. My fingers are crossed!

How did it turn out? I'm glad you are finding houses you do like.

[Rachel]

We found the perfect house- it's in a great neighborhood (it is in the best school district in the metro area) and only 5 minutes away from my job. Since it's a foreclosure, it's also about $50,000 less than most comparable homes in the neighborhood. The best part is that we can actually afford it- the mortgage even with taxes and insurance would be $100 less than our monthly rent!

We had our real estate guy put in a bid, and we will find out next Tuesday (01/29/08) if ours was the highest or not. I am keeping my fingers crossed but trying not to get too excited. It's very possible someone else will have more cash to put in a much higher offer. But we will see!

This does sound like you might have found a good buy. I'm especially pleased that it is close to your work as sometimes people forget (not that I'm thinking of my step-daughter or anything) that commuting expenses have to be factored into the equation.

[joycenalex]

go check the other foreclosures out in the neighborhood as well. IF that area is going on a downhill slide, the problems can often outweigh the costs. and when i went back to check out the area at friday night around 9pm and a 2 am saturday to check for ....loiters on the main area into the neighborhood. i also asked a patrolling cop if there would be a problem with his single aunt living on the block i moved to. after a few seconds thought, he said no and gave me some specific advice about which streets for me to not look at. hope this helps.