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"My First Home" -- featuring Rach and crew!
Topic Started: August 8 2009, 03:05 PM (75 Views)
rach679

We're narrowed down to our top 4 (out of at least 15). We can't decide which one we should go with for the next step (checking comparable and making an offer). So I feel like we're on the show "My First Home." Our price is $150-155k as a MAX price.

House 1: $154,900
4 bedrooms, 2.5 baths, ~1600-2000 square feet (does not specify heated/unheated), total lot size .18 acres
Neighborhood offers pool, playground, and b-ball court for amenities.
HOA dues are $340 per year that included upkeep for the amenities.
The house is in excellent move-in ready shape. No major upgrades or repairs aside from cosmetic painting in bedrooms upstairs. The yard is smaller, yet long. It has a hill in the backyard (slops up if you stand at the back door) at the top of the hill there is adult trees and natural landscaping that will not be developed. The school zone is for school "B" -- which is brand new opening this August. Middle and High school are decent (The middle schools suck here either way, and the high school is the one I went to and loved - but whose to say that wont change in 10 years when H is 13).
Within our price range, a tad higher. Probably will not go lower on price because they purchased the house just a few years ago for $153k. They might be willing to pay closing costs.

House 2: $143,000
3 bedrooms, 2.5 baths, ~1300-1600 square feet heated, 300-400 unheated, .16 acres
It is in the same neighborhood as "house 1" so same school information. The house is certainly smaller. The carpeting is dark, and not a lot of windows upstairs so it appears very dark. However, upstairs the stairs split and the bedrooms are on one side and the bonus room/loft are on the other side. There is a few things that might need repair such as the hardwood flooring in the living room (strange gaps between wood pieces). The yard is level, and is fairly big considering the smaller acres total. It is a corner lot, and not fenced. YOu have a great view if you sit on the front or back porch though to see the scoop throughout several nearby streets. It is close to work for both Jeremiah and I, close to a major shopping center we visit frequently. The exterior colors are not so grand - but again cosmetic.

House 3: $150,000
3 bedrooms, 2.5 bath, ~1500-1800 square feet, .28 acres.
This is a former model home. It has a ton of upgrades in general. Woods/adult trees in back yard. Deck that is nice. The bedrooms the smallest of all the houses. No places really for a playroom - and no room in bedrooms. There is a formal dinning room downstairs that COULD be a playroom instead but it would look tacky. this house is also zoned for school "SC" and well, lets just say we better plan on at least $12k per year for private school per kid unless we can make it into the public schools, "school choice plan" which offers no promises for getting into a different school. And 12k is the cheapest private school in the area ;) This house is also close to the airport and a major freeway - so there is a lot of noise of cars and planes (we are close to the airport anyways so we hear them all the time, but this house is literally 3 minutes from the airport verses 20 minutes). All appliances are stainless steel (and remain with the house) - and well I'm a nut for stainless steel appliances. HOA dues are 185 per year, and offer no amenities such as a pool, playground, etc. The money goes to a management company to maintain common areas such as the entrance of the neighborhood, and to give citations and liens and such. Total rip off of the HOA IMO.

House 4: $159,000
4 bedrooms, 2.5 baths, ~1,400 to 1,700 square feet, .28 acres.
This one is by far my favorite, but Jeremiah is not sold. Corner lot in very quiet, older/mature neighborhood. Stainless Steel appliances in kitchen, washer and dryer remain (appear to be new within the last 1-2 years - we plan to buy a washer and dryer as it is that is the same make/model or similar - not a decision maker, but a consideration!). The living room space and dinning room space are on the left side of the house and is very narrow - not a lot of living space downstairs - but I'm an outdoor girl. Kid's room decent size all around. Master bed/bath/closet wonderful - good size garden tub, huge walk in closet, tray ceilings. Bonus/4th bedroom is wonderful for a playroom! And best yet you can close a door and hide it if company comes over! LOL! The backyard is HUGE - I mean HUGE! Privacy fence which is in great shape. I can not even describe how large the backyard is! It is HUGE! Tons and TONS of space to run and play outside. Zoned for school "RG" which is also a brand new school, 1/2 mile from my work, close to interstate for Jeremiah (and in the future easy access to go across town - which is a huge perk for us and for resale). Freshly painted throughout in great colors. They've done a ton of remodeling inside and outside. We saw a similar floor plan also, and lets just say this is as new as 12 year old can get! Playground, but no pool. HOA is $140 per year. They do have community events, the playground is really awesome. There is a greenway (walking trail) to the major shopping center and bypasses the elementary school. Which is neat. This house will also be zoned for new middle and high schools that will be built by the time H enters middle and high school. It is at the upper end of our budget. The owners bought it for $147k in 2006. Its vacant and has been on the market (although relisted) for roughly 6 months. I think we'd be able to negotiate down to $152-155k and throw in closing cost paid by seller.


So, here you go folks! What will Rachel's Crew Choose? House #1, the in between it all but don't feel totally connected, House #2 that is cheaper and not quiet everything we'd like but certainly well within our budget, House #3 that is zoned for the crappy school, but otherwise has every upgrade imaginable, or House #4 that is at the upper end but offers a great yard, and has the floor plan that works and makes sense.
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MissAngi
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LOL You can tell which one is your favorite because of the descriptions. You added more detail to the #4 house. HAHA Judging from the description I'd negotiate #4 down. Sounds like you like that one better.

I dont know why you would want to live in an HOA!!! That would drive me insane!
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rach679

We have no choice really with the HOA. There are very very very few houses without HOAs around here. IF one is for sale its farm land that developers are begging to buy to develop neighborhoods on the land. If developers can't use it for a neighborhood, it is WAY above our price range (last one we saw for sale on Zillow was almost 250k and the market here is not that grand). I mean developers are building roughly 3 houses per acre around here. So any little bit of land they can acquire to build a few houses they do.

We are leaning towards #4. It really is my favorite. There are two big distictions with the houses we've visited. Newer construction (last 5 years) majority of the "space" is downstairs. A lot more flex space, dens, two living rooms, etc. Upstairs is strictly just bedrooms. With #4 it was built in '97 - downstairs is just the kitchen, dinning, and living room. Upstairs you have the bedrooms, a bonus room/bedroom. The newer construction also features a different layout - more for entertainment. Most kitchen's have a half wall or breakfast bar that separates the kitchen from a dinning area and the living room is adjacent some how. Typically with some type of flex space (formal dinning room, or living room, or sitting room, etc). Its just a completely different "Style" I guess. But the lot is WAY larger. It is unheard of with new construction to have a lot that is more then around .18. If you go into the .2xxx then you know its an older house!

Ok, totally random thoughts of mine! I emailed my dad and he joked around saying "nice yard, I hope Jeremiah likes to mow!"

Here are the links too house #1 and house #4 are top two houses:
Here is our top pick so far:

http://www.coldwellbanker.com/servlet/SearchProperty?action=quickSearch&newSearch=true

MLS # 872030



Pick Number 2:

http://executiverealty.northcarolina.remaxbeta.com/PropertySearch/ListingDetail.aspx?lid=72043109

MLS # 867744
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MissAngi
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I'm confused as to which house is which on your list. But I love the Southbridge Forest house!!!!!!!! That yard is awesome!!!!! its a big yard, but not too big. Since its open and square, mowing will be easy!! :-)
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rach679

Southbridge Forest is #4

Centerline is #1
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rach679

Our status update:
We nixed #3 -- can't get past the school zone and no guarantee we'll have enough for 2 children in private school. We plan to have one more kid, so 12k+ a year per kid **OUCH** Not worth it.

House #2 -- We went into short sale - pre forclosure. Which means you have to deal with the bank and can take 3 to 6 months even with the banks asking price (which has been lowered 10k to 133k). We need to close in October, so yeah! No was to guarantee do the process quickly.

House #1 (centerline) -- My co worker put it great, "the house just doesn't tug on your heart." It really doesn't tug on my or DH's heart. Its *just* a house, Its *just* a place. It will function how we need it to, but aside from that nothing impressive.

Which leaves up with house number #4. I'm terrified to make an offer though. The compatibles that have sold within the last 12 months are 163k, 150k, and 142k. Our Realtor said based on the last 12 months a fair offer would be 153k. However, the 162k was sold last year, before the market tanked. Therefore, a fair offer in her opinion would be $149k. I wonder if they'd accept that or not. I mean they are not living in the house. If we can at least get it to $153k we'll be set!

I'm just really scared because this is a huge step for J and I. We've really made some stride in our relationship (being more open, talking about long term goals and planning, we've really be working on our relationship). We're both really excited to buy a house, but sometimes I feel like I'm pressuring him into buying *this* house. because at first he was kind of like "whatever" to the house, but we've been talking about it more and he keeps warming up. I guess my whole point is, I've fallen in love with the house. I have planned in my head where to put everything, etc. So if Jeremiah said "Well I really don't like it *that* much" I'd have a fit! And he'll say at the end of the day "whatever you want" lol. :Sigh: I just want him to be honest, and not let myself get side tracked with my own feelings.
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rach679

We checked out #4 again -- and the down side, we noticed rust on a neighbors A/C unit outside. So, we had to go back and check it out on house #4. The unit is 12 years old, so based on our temps and weather generally speaking they last anywhere from 15 to 20 years. So its getting old, and due for replacement soon probably. Which is all good and fine, I can accept that. Well, we were looking around again and noticed two water spots. One under the attic, the other looked like it has to be the roof. The house is 12 years old, so there shouldn't be any roof issues *YET*, not for another 10 or so years. Our agent emailed the sellers agent, and the owners have no idea whats going on - they never noticed anything but they haven't been in the house since April. They've never had any problems in the 3 years that they lived in the house. So I'm not sure what to make of it. I don't want to buy a house at the top of our budget then have one or two big ticket repairs. Before making an offer on the house, I really want to know what is up with those two items. What if you make an offer and then find out both are crap can you back out?!
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rach679

Jeremiah threw out house number 4. I'm bummed! Oh well. 3 more houses that just popped up that look promising as well.
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MissAngi
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Well before you buy a house you get a house inspector to look at those things. Rust on a condenser unit is not a sign that the unit is falling apart. If its only 12 years old you have another 8 years left in its life. You are barely halfway through its life. A new A/C unit is not THAT expensive. Thats totally a reasonable thing.

As for water spots, it doesnt mean there are roof issues. It could be a water line dripping. Condensation from lack of roof vents. (which are CHEAP) There are tons of things it could be. I would not throw it out based on the issues you listed until you have a home inspector look at it. PLUS, if he finds things wrong you can put in a lower bid!! If the house has been vacant for months, these people will be itching to sell!!

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rach679

We looked at the three new houses -- and we found our house! We found it! Perfectly fit for us! It is ranked far above South Bridge - I mean it made southbridge look like a trash can! And to top it all off, the listing price is WELL BELOW market value! Plus, has all new stainless steel appliances, new paint, new carpet, huger yard (.26 acres). Neighborhood pool and playground (no pool at the other place - I *love* the pool). We're sold. It wont be on the market for long! It'll be lucky to last a few weeks! So we're jumping on it! It is perfect! I mean perfect!
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MissAngi
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Make sure you still get it inspected!! There could be a reason its well below market value. ;-) But YEAH!!!!!!! I'm so happy for you Rach!! Can't wait to see pictures!!!
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rach679

we will have an inspection. The lady who owns the house, bought it as a foreclosure and is "flipping" it more or less. So that is probably why its priced slightly under market value. The tax value is actually 147k, and the list price is 150k. She bought it so recently MLS and tax records have not been updated. the listing agent/owner said she's had the pluming and hvac inspected and no issues of course that doesn't mean a 2nd set of eyes wont find something - but the house is only 6 years old. We filled out all the offer paperwork last night. Our agent put in there to hear a response back by Monday @ 5pm. She anticipates some back and forth since the listing agent is also a Realtor and the house hasn't officially hit the market. Please pray! This is an amazing house and don't want to let this deal pass through our fingers!
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