Well, we’re still house hunting. We’ve made offers on 5 houses now and each one has fallen through. It’s a bit disappointing and discouraging because in every case the sellers have gone with offers that are made by investors. People who have no intention of living in these houses or contributing to these neighborhoods. Instead, they plan to rent the houses out at the very least, or maybe even flip them.
I really do worry about what that does to the community and neighborhood that these sellers are leaving behind. I mean, yeah, the seller gets an all-cash offer without having to pass through contingencies, but at what cost to others?
The thing is that we’re offering over the asking prices with 20% down on a pre-approved loan. We just can’t compete against someone offering all cash and waiving all contingencies. In one case the seller wanted to see at least 50% of the purchase price in cash in the bank. Seriously! I wanted to be snippy and say that if I had that much money in the bank, I sure as hell wouldn’t be buying in that community! But I didn’t. Instead we responded that the offer is as stands.
One of my coworkers said that a house went up for sale down the street from her. The sellers were asking $490,000. They had 15 offers, one of which was $530,000 cash with no contingencies and another was $540,000 financed while waiving the appraisal contingency. My coworker said that the house was a dump and should never have sold for that price… but it did.
And now house prices are going up again. Interest rates are still super low and the inventory is low as well. Those two things combined mean that demand is high so prices are high. It also means that things are selling super quickly – I’ve heard that the average time on the market for houses in our area is 7 days. Can you believe it? A week and your house is sold.
Add into that, now, that my car died. Yes, my beloved Saturn SL2 that I bought with money left from my Dad’s death finally croaked. I donated it to the Polly Klaas Foundation, so at least it went to a good cause. But now we’re a one car household. It’s not nearly as much fun as it sounds. A new car is not an expense that I really wanted quite yet.
Oh well… This is kind of a Debbie Downer of a post, but it’s what’s going on right now.
I did finish a couple of quilts.
This Black & White one I made for my friend/coworker J. It took a long time to piece and quilt – about 20 hours total. The back is Minky, which is kind of a pain to work with, but it all worked out.
I also finished this wall quilt with an Asian flair. I got all of the fabrics and the pattern on clearance when my favorite quilt store closed. It didn’t take too long to piece and quilt, maybe 6 or 7 hours total. The most finicky part was making sure I had the center cut and pieced properly. The most annoying and time consuming part was hand stitching the rod pocket on the back. Have I mentioned how much I hate hand stitching? This will be hung in my office at work – the colors actually go really well! I call it “Peacocks and Peonies.”
So that’s it for now…