So we have 2 more days until the contingency period is over for the house. It basically means that we are locked in at that point. Until that point, we can still get out of it. So we spent 3.5 more hours at the house last night with our real estate agent. So now we are thinking that we may change our original plans. Instead of having a bathroom in the basement, we are thinking that maybe we will try to convert the current bathroom into a master bath and then convert the hallway and linen closet into a second bathroom off of the kitchen. According to Kian, he recommends doing remodeling before we move in or at least before we unpack. We're leaning towards this option as well. I like the idea of having it done earlier so that we can enjoy the changes longer. Why pay for changes for the next owner to enjoy? This plan requires that we do the kitchen remodel with the bathroom addition. That's just a lot of money up front. No problem, right? JK!
Our mortgage broker also told us that the appraiser said that we got a good deal on the house, so that makes me feel more confident that we are making a good decision. She also has been telling us that the lenders are definitely getting more stringent. She said that the day after they approved our loan, they stopped accepting applications. I didn't think that all the activity around sub-prime lending would affect us, but I guess that it could have even though we have great credit.
At this point, Edwin and I are pretty sure that we are going to go through with the offer. I feel like we know what the issues are and what we have to do and how much it will cost. It's more a question of when we can tackle each of these projects. We should be busy for years! JK! I think that it will be hard work, but it will be worth it. Given that it's one of the cheapest houses on the block, the value can only go up, right?
We also met one of our neighbors who is an elderly gentleman who has lived in his house for over 40 years and prior to that he lived across the street where his daughter lives now. I guess he must like the street. He did say that Christmas time is very busy because it is known as Christmas Tree Lane since Alameda decorates the entire street. I have never heard of it, but I am looking forward to it.
We also found a really great Hawaiian restaurant called Hawaiian Drive Inn. I had the saimin and a spam musubi while Edwin had the garlic shrimp. Each of the entrees was like $4 and the bill came to $12 without tip. The place is a family run establishment and we were served by the dad and his son who was probably around 12 years old. It was so tasty- we will definitely be back.
Tuesday, August 07, 2007
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1 comment:
Sounds like you guys locked in your mortgage in the nick of time!
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