House offer take 3

We put in an offer on this cute craftsman!!!

It's a 2300 sq. foot fixer, we call it the "Grandma House." See pepto-bismol pink walls in the Flickr photos. :) It's cheap enough that when we sell our current house, we should be able to put down 10% and have about $30K up front to fix this house up, and maybe flip it over the next year or two if the market doesn't crash out. If it does, it will be a fine house to stay in for a while. :) The mortgage payment is not much more than our current home, so we'll defintely have the income to put more into it if we want. This house is $140K less than the last house, and $170K less than the first house we had fall through.

The market is nuts right now, the new listings go within a few days. It's like circling vultures. We looked at several open houses on Sunday, all were packed with people. That being said there are plenty of overpriced homes just sitting on the market for months too... but when gems like these are priced right, they are getting snapped up by serious buyers.

This house actually had a pending offer on it right after we saw it before we even had a chance to put an offer in. I was sad. :( But we just found out this afternoon that just fell through so we are excited to see if we get it! It went on the market on the 5th and had multiple offers so we might have to compete now.

Sadly, it is a power of attorney for an elderly couple, so likely they died or are in nursing homes. There were little collections everywhere kind of like my Grandparents house in MN. But everything was taken care of like they loved this house, and it had a good warm energy. The son is driving up from San Francisco tonight and will see our offer tomorrow as well as well as start clearing out the home. The offer will expire at 5 on Wednesday... so we have 41 more hours to wait!! EEk.

We're already moved in to this house in our minds. Its hard not too... I'm envisioning designing my own custom kitchen and baths as we'll add another bath, maybe 2... The basement will be a photography studio/media room with hopefully a bar and maybe wine cellar, as well as additional office space. If we get really motivated, we'll add an egress window and have a 4th bedroom for resale. Oh so much work but we're really excited!

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