Mikelly Posted April 27, 2006 Share Posted April 27, 2006 So we've found a couple of very nice homes in our price range and within the family critieria... And we're going forward tomorrow to make an offer on atleast one home that is perfect for us... It's a 2750SQFT rancher w/bonus room above, stone gas fire place, custom everything, on five acres in the center of the lot, wooded, no neighbors to see or deal with, and two garages, one 26X20 attached and one 36X26 detached... They want a bit more than I think it's worth money-wise, but we'll see how the negotiations go... This one is as close to plug and play as I can get, without have to build a shop or deal with some of the headaches of building custom... It's about as close to what we'd spec... Wish us luck! Mike Quote Link to comment Share on other sites More sharing options...
Hartspank Posted April 27, 2006 Share Posted April 27, 2006 Good Luck!! The place sounds awesome! Quote Link to comment Share on other sites More sharing options...
Boobala Posted April 27, 2006 Share Posted April 27, 2006 ... on five acres in the center of the lot' date='...Mike[/quote'] It took me over a year to find a house on a large lot like that (where the house wasn't on the edge of the lot). It baffles me why people build houses on the edge of large lots that are not farms. Mine is only two acres, but at least it's near the center of the lot. Congrats to you, good find and good luck! Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted April 28, 2006 Share Posted April 28, 2006 Good Luck and send photos!!! Two garages? Your family will NEVER find you. NICE. Quote Link to comment Share on other sites More sharing options...
RB26240Z Posted April 28, 2006 Share Posted April 28, 2006 Good luck on the offer. Just curious, how long has it been in the market? The longer it's been there the more they will come down. The market has somewhat softened up (buyer's market), at least in L.A. Henry Quote Link to comment Share on other sites More sharing options...
v80z Posted April 28, 2006 Share Posted April 28, 2006 Can we get a 1/8 mile strip on the 5 acres for the Kelly Shindigs? Quote Link to comment Share on other sites More sharing options...
Michael Posted April 28, 2006 Share Posted April 28, 2006 Good luck, Mike! May your real estate ventures turn out better than mine! (But that goes for EVERYONE on HybridZ!). Is this place in the Fredericksburg area? Quote Link to comment Share on other sites More sharing options...
Synlubes Posted April 28, 2006 Share Posted April 28, 2006 Luck to ya! You can always open a side wall and expand the garage. Say maybe a nice work area for tools and shop equipment leaving the main garage floor open. Quote Link to comment Share on other sites More sharing options...
Some-Guy Posted April 28, 2006 Share Posted April 28, 2006 Good luck, hope ya get it Iam just trying to get into the market right now.Its hard as hell though being younger I find people dont really take me seriously its rather annoying. Quote Link to comment Share on other sites More sharing options...
Mikelly Posted April 30, 2006 Author Share Posted April 30, 2006 Well we made an offer and they countered. Not sure what we're going to do at this point. We're down in Savannah all this weekend and won't be back in town until Monday... Mike Quote Link to comment Share on other sites More sharing options...
Mikelly Posted May 1, 2006 Author Share Posted May 1, 2006 We've countered the offer and are waiting to hear back... I'm really dreading the thought of packing up and moving... Just the effort in it... Not to mention listing and selling our place... Mike Quote Link to comment Share on other sites More sharing options...
qwik240z Posted May 2, 2006 Share Posted May 2, 2006 We've countered the offer and are waiting to hear back... I'm really dreading the thought of packing up and moving... Just the effort in it... Not to mention listing and selling our place... Mike Good Luck, Mike. Let me know if I can help out. I just got back from the Mitty. What a great event. Quote Link to comment Share on other sites More sharing options...
Guest ON3GO Posted May 2, 2006 Share Posted May 2, 2006 Congrats and good luck to ya mike! i just bought some land and im now looking into building a home. found a few builders i like... its nice having a mom in the real estate biz for over 35 years . Ive been looking over the plans on a nice 2550sq ft living home, wish me luck mike Quote Link to comment Share on other sites More sharing options...
Mikelly Posted May 2, 2006 Author Share Posted May 2, 2006 Best move you'll ever make is buying/building a house. Sure, it'll slow the toy purchases, but you'll be saving so much in the long run... No more rent burning up your money... And the equity will be worth it! Now I'm waiting for Michael to chime in on how horrible a deal buying a house was for him... Mike Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted May 4, 2006 Share Posted May 4, 2006 Best move you'll ever make is buying/building a house. Sure' date=' it'll slow the toy purchases, but you'll be saving so much in the long run... Mike [/quote'] ....unless you pay as much property and school tax as I do. I could buy a !NICE! Z every year with my tax. Quote Link to comment Share on other sites More sharing options...
Michael Posted May 4, 2006 Share Posted May 4, 2006 And here I am chiming in!!! Cygnusx1 is absolutely right. And besides taxes, consider the maintenance, the insurance, and the transaction costs. And the depreciation, if you're in the Midwest. Let me put this in perspective: I own my house outright - no mortgage, no monthly payments. But between taxes, insurance and maintenance, it costs me more to live in my house than I used to pay for rent in my apartment! Purchasing a house is making an investment. But some investments are good, some are bad, some are indifferent. It's ludicrous to claim that ANY investment is a good move, just because you're finally making an investment! Quote Link to comment Share on other sites More sharing options...
Mikelly Posted May 5, 2006 Author Share Posted May 5, 2006 Yea yea yea, Michael, Here's a tip from Sam Kinisan... If you're ethiopian, and you're in the desert, and you can't grow anything because you're in the desert... MOVE. The house we made the offer on at the beginning of this thread fell through... Seems the owners are upside down on the mortgage and can't go below $519K. It's a $500K home and we were prepared to write a no-contingent contract at $500K, but they simply can't sell it for that... They were having to pay $12k+ out of pocket at $519, just to get out of the mortgage... Cost them less than $350K to build that house, which tells me that they pulled ever dime of equity out of their home and have now moved out, bought another house, and overpriced this one... They won't move it for a dime over $510K, as their own agent admitted that it wasn't a $520K home... Stupid people abound... On the other note, I have gone and looked at probably 6-8 half million dollar homes and I'm amazed how people let their homes go... I know, I'm not mr. Lawn dude, and there are things that needed done to our house. We're addressing them as I type and will have new interior, exterior paint, new sidewalk, and a completely finished second level to our garage before it goes on the market. We went into a home today that one year ago was appraised at $640K. Today we walked in and it smelled like a bar at closing, and had a list of broken items a mile long. Forget the fact that there is a 32X32 detached and 24X22 attached garage and its on five wooded acres... So we're looking... We've been pre-approved to keep our house and buy up to $650K worth of home, which will ease the pain of moving, and listing the existing home. More to come as things progress, but right now I'm finishing up the repairs on the vette and will hopefully have it sold next week. The Zcar is taking a trip to Richmond on Saturday morning and will be with JamieT while he finishes the electricals, paint, and whatever else he's up for doing, and I hope to get ahold of Jim's Red Scarab in the next three weeks so I can fix the clutch problem and get it to Jeff in NC for some tuning. And I won't even go into how crazy busy we are with the company right now... I really wish there were two of me! Mike Quote Link to comment Share on other sites More sharing options...
boodlefoof Posted May 5, 2006 Share Posted May 5, 2006 You moving out of Fredericksburg Mike, or just moving into another place locally? If you're interested in moving down closer to Richmond, the property prices down there seem pretty low. My folks just moved down there a few years ago and got a very nice house for very little (relatively speaking). Quote Link to comment Share on other sites More sharing options...
Mikelly Posted May 5, 2006 Author Share Posted May 5, 2006 Bootlefoof, I'm staying in the Fredericksburg/Spotsy/Stafford area... My business is located here, and I like it here. I also need to be within a reasonable distance to the greater Northern Va. area, since I still have potential to be there weekly for meetings and recruiting... Mike Quote Link to comment Share on other sites More sharing options...
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