Thursday, July 12, 2007

Welcome to the Home Buying Blog!

Way back when, TTtC here started out as a Bar Exam Blog, then flowed cleanly into the Unemployment Blog. The Drink & Party & Waste My 20's Blog soon followed, but I guess I got bored with that after two full years. What could possibly be next? What amazing thing can possibly follow all the amazing things that has preceded? WHAT IS THE NEXT CHAPTER OF MY EXCITING LIFE?

I'm buying a house, y'all. Heck yah! I mean, why not right? I'm old, I like to buy things with obscene loan payments...what other motivation do I need?

I blame some shitty-ass online calculator for keeping me from this decision sooner. I had no idea what I was inputting and a simple calculation is not good enough to tell you whether and what you can afford. That was about six months ago. Now, my upstairs neighbor is selling his apartment, so last weekend I went up to talk to the realtor about something unrelated, and ended up talking to this loan officer who, I won't say she was giving me the hard sell, but I was taking her sudden interest in my situation with a grain of salt...and over the course of the next half hour realized that I could, in fact, afford a house, and furthermore, am otherwise losing ginormous amounts of my pay to income tax, something I could avoid if I purchased property.

So I sat on it for a whole 48 hours, thinking....really? Can I? I mean, really? Then I sent out help lines to three of my friends who are smart and know about this stuff, as well as a co-worker who just bought a house two weeks ago and happens to be an investment know-it-all. In a good way.

The g sent me, for better or worse, to the Long and Foster website, where I've spent 40 of the last 48 hours drooling over pretty, pretty properties. Aaannnd forwarding listings to everyone I know and am more frequently starting to hear, "Yeah, you showed me that one. But it's nice! Yeah." Heh.

My new realtor (I have a realtor!) just left my place. I know that seems a little quick, but I would never have just picked a guy off the street, no, I picked him off the sign in my front yard of course. When he emailed me back he said he helped my current landlords find this place, too, and that actually means a lot to me, because my landlords are good, smart people, and I trust their judgment. After talking to him, I'm very convinced that he's a good dude, certainly moreso than I thought I'd be. He explained the entire process to me, and apologized for the brain dump, but it was extremely helpful. So tomorrow? Loan applications for good faith offers.

WOO I'M GOING TO BUY A HOUSE. I better go call my mom; she's going to be pissed if she finds this out online.


At 10:34 PM, July 12, 2007, Anonymous Anonymous said...

ummm, did we forget the phone call??? :) M

At 10:38 PM, July 12, 2007, Blogger Heather said...

Heh. Sorry, I brought work home. I'll call in a minute!

At 9:08 AM, July 13, 2007, Blogger bekbek said...

I'm selling my place in a year. You should buy it! It's funky (aka neither new nor particularly old), well-cared for (aka we rebuilt the kitchen a few years ago), and only gets a few giant palmetto cockroaches per day.

Oh yeah, and it's in Georgia.

Wannit? I give you good price.

(Sad truth: I love my house more and more each day. I just want to live closer to the water... But kudos on the plan, it's high time you stopped making landlords rich! Woot!)

At 12:49 AM, July 14, 2007, Blogger cg-c, esq. said...

Congratulations! That's awesome! Let me know if you don't like your loan people option, because I'm using a guy based in Ohio that is AWESOME - he's truly bent over backwards to help us and we're getting a truly killer deal.

At 6:56 AM, July 14, 2007, Anonymous roonie said...

Are you buying in-district? Dude, isn't the housing market there akin to San Francisco (a.k.a., affordability questionable)?

At 5:50 PM, July 16, 2007, Blogger Stephanie said...

Congrats!!! It took me awhile to decide to buy also, but it's been so rewarding to know that every dime i'm putting into the place is building my equity portfolio. Yay!

At 11:59 AM, July 27, 2007, Anonymous 25yr Realtor said...

well, you really only BUILD equity if you can resell for more than you put in. condo market in dc now is way overbuilt and would suggest prices have further to fall. achtung.

At 12:21 PM, July 27, 2007, Blogger Heather said...

Yeah, but I find it hard to believe that prices will cease to rise in this city...I know the market sucks now, but people are still selling their place --quickly and for profit -- as long as you careful about buying. I would very much not consider buying a place more than 5-6 blocks from a metro, etc. And I agree about the condos, but there are different kinds of condo markets, too. I live in a 4 unit converted rowhouse, and that's a very different lifestyle and investment than the 100+ unit behemoths they're building all over the place.


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