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Housing purrs please

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Karen AKA Kajikit - 18 Nov 2006 06:27 GMT
We have the opportunity to buy a house in Port St Lucie from somebody
John knows, at a bargain basement price... we refused the offer a few
months ago because we knew couldn't afford it, and the guy called back
last week and dropped the price another twenty thousand! It's a nice
older house and it would suit us well... all we need now is a
mortgage. John talked to some mortgage people this week and we got a
not-very-good offer today (they promised a much better rate, but then
said 'well, this is the best you should expect with your credit and no
downpayment, so why don't you sign up this minute before we change our
minds...' I hate high-pressure sales techniques, so we're not going to
agree.)
The other mortgage person is still working on his and he says he can
do better. We hope he can, because we still couldn't afford to pay the
first guy's rates. Please purr for this to work out!
Joy - 18 Nov 2006 06:35 GMT
Purrs are on the way.

Joy

> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!
Marina - 18 Nov 2006 06:45 GMT
> The other mortgage person is still working on his and he says he can
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!

Many housing and mortgage purrs on the way!

Signature

Marina, Miranda and Caliban. In loving memory of Frank and Nikki.
Stories and pics at http://koti.welho.com/mkurten/
Pics at http://uk.pg.photos.yahoo.com/ph/frankiennikki/
and http://community.webshots.com/user/frankiennikki

jmcquown - 18 Nov 2006 10:03 GMT
> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!

Purrs of course!  But don't let anyone pressure you into something.  A house
is a major financial committment and I've rarely heard of anyone dropping
the price in just a few weeks by $20,000.  You'd need to hire an independent
appraiser, inspector and a real estate lawyer and make sure those things are
covered by the seller in your closing costs. (One of my best friends, when
she still lived here, worked for a real estate attorney.)  Sounds like there
is some reason they aren't telling you about this dramatic drop in price,
and don't let them tell you it's because they "must sell".  Sure, right.
Eventually everyone must sell.  But in a matter of weeks?

A number of years back I considered purchasing a house.  Looked good, price
was right and I could get a low-interest loan.  But I also have a friend who
used to be an appraiser.  He's retired but he volunteered to go take a
look-see, unofficially.  He didn't just take into consideration the house
itself but also the overall property and the area.  Know what he found?

1.  The back of the property backed up to a football field behind a middle
school.  You wouldn't know to look at it because the back of the property
was "fenced in" by tall trees.  But at night, when this school had a
football game, the STADIUM LIGHTS shone right through the trees right into
the windows at the back of the house.  This included the kitchen, living
room and master bedroom.  "Blinding", I believe his words were.

2.  Since there was a school behind, he noted kids used the backyard as a
cut-through to walk home.  So if I wanted dozens of kids cutting through my
yard after school.... NOT!

3.  The lovely landscaping, which included a pond, was added to hide the
fact that there is a major problem with water drainage in the back yard when
it rains.

It's nice to wish for a house.  But BE CAREFUL!

Jill
jmcquown - 18 Nov 2006 10:30 GMT
>> We have the opportunity to buy a house in Port St Lucie from somebody
>> John knows, at a bargain basement price... we refused the offer a few
>> months ago because we knew couldn't afford it, and the guy called
>> back last week and dropped the price another twenty thousand! It's a
>> nice older house and it would suit us well... all we need now is a
>> mortgage.

> Purrs of course!  But don't let anyone pressure you into something.
> A house is a major financial committment and I've rarely heard of
[quoted text clipped - 6 lines]
> them tell you it's because they "must sell".  Sure, right. Eventually
> everyone must sell.  But in a matter of weeks?

My additional comments:

How many people look at a property at night?!  Not many.  So the blinding
lights also shined onto the back patio.  I never would have considered what
was at the back of the property, certainly not Stadium Lighting! had my
friend Van not taken a look.  Who wants this sort of lighting on their patio
and into the back of their house?

> 2.  Since there was a school behind, he noted kids used the backyard
> as a cut-through to walk home.  So if I wanted dozens of kids cutting
> through my yard after school.... NOT!

I also wouldn't have staked the place out during the day to find out it was
a popular route through the yard.  Yes, there was a fence behind the tall
fir trees.  Kids have a way of finding their way around fences.  I think
they consider them a challenge.

> 3.  The lovely landscaping, which included a pond, was added to hide
> the fact that there is a major problem with water drainage in the
> back yard when it rains.

It was actually a lovely little rock "stream" which led to a rock pond with
a waterfall.  Looked great.  Very charming!  But Van told me yes, they'd
need a stream and it's mostly filled due to runoff.  He predicted the yard
would still flood when it rains heavily.  After all, water contained in a
rock stream and pond can only contain so much before it overflows.

Van also predicted problems with the water pipes underground because of the
way rainfall collected in the yard.  It's got to go somewhere.  And this was
a slightly older neighborhood so the pipes in the ground (he predicted) were
not PVC but possibly clay pipes which tend to age a bit.

He wasn't able to get inside the house because he's retired and wasn't
actually hired by a potential buyer or real estate firm as a property
appraiser.  But he talked to some neighbors who told him the house had stood
empty for almost a year since the owners had already moved into their newly
built home and they were "anxious to sell".  Of course they were.  Who wants
Stadium Lighting shining through the master bedroom curtains?  Who wants a
back yard that floods even with asthetically pleasing attempts to prevent
it?

Caveat Emptor, Karen.  If it's too good to be true, it probably is.

> It's nice to wish for a house.  But BE CAREFUL!
>
> Jill
Lesley - 18 Nov 2006 11:58 GMT
> How many people look at a property at night?!  Not many.

This is too true even with renting. The first flat Dave and me rented
we were shown round during the day and it looked so lovely and new and
we were living in a tiny bedsit so we grabbed it with both hands!

Soon found out that at night the place was a haunt of nasty youths.
No-one told us it was a "Sinbin" estate where families who would have
otherwise been evicted for reasons such as anti-social behaviour were
housed as a last chance to prove they could behave and be rehoused in
better areas.

We lived there for almost 6 years during which time some of the more
major incidents included me nearly being killed when someone dropped a
door off the 6th floor balcony aimed at me, Speedy Joe (RB) being
traumatised when he was walking up the hallway and someone put a load
of lit fireworks through the letter box, which nearly hit him and
having dead birds (some decapitated) in the letter cage (installed
after the fireworks incident).

In the end we got so freaked out that we asked for a transfer, not to
an estate and not a ground floor flat. So what did they do? Offer us a
ground floor flat in an estate in Canning Town, which was then the
roughest area in East London. When we said no they offered us our
current flat saying it was really hard to let but if we didn't take it
we could stay where we were.

This time, after viewing the flat, we went to the area at night and
found that apart from the odd rowdy drunk getting thrown out of the pub
opposite it was fine so we returned to our landlords and said it's
lovely we'll take it

Odd thing was that seemed to annoy them and we ended up spending 2
weeks in the situation where we had the keys so we could go round and
measure for carpets etc but they still wouldn't say for sure whether
they would let us have the flat

We've been here 21 years

(I did tell a friend of mine to check a place at night when he found a
flat and he didn't bother. What the letting agents had obviously
neglected to tell him was that there was a drug dealer in the flat
above who didn't get up all day then stayed up all night entertaining
his customers with loud music- he didn't stay there very long)

Lesley

Slave of the Fabulous Furballs
jmcquown - 18 Nov 2006 20:35 GMT
>> How many people look at a property at night?!  Not many.
>
[quoted text clipped - 5 lines]
>
> Lesley

I fled my last rented apartment because the area had just become too
dangerous.  I'd already called the police twice due to hearing gunshots.
One Sunday I watched through my kitchen door peep-hole 3 punks kick down the
door of the (then vacant) apartment across from me.  I called 911 and they
were caught and arrested.  Heh, the police told me later they claimed they
didn't speak English but they were bailed out the next day by some
mysterious someone.  Think that didn't make me nervous?  They knew where I
lived!!

The "lovely couple" (heh) who moved in across the hall after that were about
21, 22 years of age with no apparent means of support.  Yet they were
driving one of the most expensive Mitsubishi sports cars available at the
time.  You see, they had "friends" who dropped by all hours of the night,
for 10 minute visits.  Doesn't take a rocket scientist to figure out what
they were doing for a living.

The way the building was arranged, there were two stairways, one from the
front of the building, one from the back.  The stairs converged on an upper
landing.  There were 4 apartments on the 2nd level.  The balconies were open
to each other, separated by a wooden railing.  Anyone could walk right over
onto my balcony and vice versa.  So, one evening I was sitting on my
balcony, reading, and out walks Mr. Doesn't Do Anything for a Living with a
GUN in his hand.  He smiled, said hey, hope you don't mind this!  It's just
in case there's any trouble.

Thank god my lease was up the next month.  I immediately gave notice and got
the hell out of there.  I couldn't really afford to move where I moved but I
figured my life was worth more than a couple hundred more a month.  So I had
to live quite leanly for a bit, but it was worth it.

I've lived here since 1998.  The only time I've had to phone the police was
because there was a young couple outside in the parking lot by my apartment
having a heated argument and I was afraid there might be an altercation.
They apparently figured out it was a good idea to make up and get in the car
and leave when the cops pulled up.

For the most part, this is a nice complex.  The couple in the unit adjoining
mine are perhaps 10 years older than I am.  The couple across the drive from
me are retired and friendly.  The unit across the way from my front door
never stays rented longer than 6 months but it's always to quiet people. :)
No drug deals, no guns, no worries.

Jill
John F. Eldredge - 18 Nov 2006 16:47 GMT
>> 3.  The lovely landscaping, which included a pond, was added to hide
>> the fact that there is a major problem with water drainage in the
[quoted text clipped - 10 lines]
>a slightly older neighborhood so the pipes in the ground (he predicted) were
>not PVC but possibly clay pipes which tend to age a bit.

One of the houses for sale that I looked at before buying my current
house had an erosion gully feeding directly into the back yard, with a
six-inch-deep puddle standing in the back yard even though it had been
several days since the last rain.  The floor level in the house was
only a few inches higher than the yard, and there was evidence that
storm water had gone through the house, in the back door and out the
front door, on at least one prior occasion.  The house had been
foreclosed upon by the mortgage lender.  I suspect that the previous
owner, once they found out the problems, had tried unsuccessfully to
sell the house, and finally just walked away, abandoning the house,
despite the hit to their credit rating.

I turned down the house, but, a few months later, drove through the
neighborhood after dark and saw lights on in the house, so they
evidently found a buyer.  I just hope that the price was discounted
enough to cover the cost of solving the drainage problems.

Signature

John F. Eldredge -- john@jfeldredge.com
PGP key available from http://pgp.mit.edu
"Reserve your right to think, for even to think wrongly is better
than not to think at all." -- Hypatia of Alexandria

Karen AKA Kajikit - 18 Nov 2006 23:08 GMT
>Caveat Emptor, Karen.  If it's too good to be true, it probably is.
>
>> It's nice to wish for a house.  But BE CAREFUL!

I don't think this house is in quite the same situation... but we're
not going into it blind - after we get approved for the mortgage we'll
still have to go and check EVERYTHING to make sure it's okay. From
what we saw it seems nice enough and with no major signs of trouble.
We also know why he wants to sell it and it seems reasonable to us...
I have no intention of being landed with a white elephant :)
sriddles@aol.com - 19 Nov 2006 06:59 GMT
> >Caveat Emptor, Karen.  If it's too good to be true, it probably is.
> >
[quoted text clipped - 6 lines]
> We also know why he wants to sell it and it seems reasonable to us...
> I have no intention of being landed with a white elephant :)

I'm sure you already know this, Karen, but mortage companies are very
particular. They will require all kinds of inspections, so it isn't
totally your responsibility -- they will help you ensure that the house
doesn't have major problems . And you and John just need to use common
sense and check it out well. Buying a house is a big deal, but don't be
scared. You'll do fine.
There are lots of advantages to owning your own home, and real estate
is nearly always a good investment. Besides, it's fun to fix up your
house the way you want it...just think! You can build ramps, and
perches and get a giant cat condo..and...and....  :-)

Sherry
Takayuki - 19 Nov 2006 06:03 GMT
>Purrs of course!  But don't let anyone pressure you into something.  A house
>is a major financial committment and I've rarely heard of anyone dropping
>the price in just a few weeks by $20,000.  You'd need to hire an independent
>appraiser, inspector and a real estate lawyer and make sure those things are
>covered by the seller in your closing costs.

The current market is coming off some highs though.  A $20k drop
doesn't sound unusual.  I saw the asking prices on friends' houses
fluctuate over a million dollars in some cases.
Adrian A - 18 Nov 2006 11:44 GMT
> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!

Purrs that you can get an affordable loan.
Signature

Adrian (Owned by Snoopy and Bagheera)
Cats leave pawprints on your heart.
http://community.webshots.com/user/clowderuk

jXwXeXrXmXoXnXt@sonic.net - 18 Nov 2006 18:58 GMT
> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
> months ago because we knew couldn't afford it, and the guy called back
> last week and dropped the price another twenty thousand!

Ooo, purrs that it works out and you get a good rate!

Port St. Lucie is really near where my mother and sister live.

Joyce
Karen - 19 Nov 2006 00:44 GMT
> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 9 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!

Oh mega purrs for your own home!!!! I'm certain that you can do better.
REAL mortgage folks won't pressure you like that. I wouldn't trust
someone who put it to me that way.
Victor Martinez - 19 Nov 2006 00:46 GMT
> The other mortgage person is still working on his and he says he can
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!

Have you tried ditech.com? That's who we've used for all our mortgages,
they even did an 80-15-5 loan, which means we only put down 5% of the
value of the house when we first bought it.
lendingtree.com is also a good resource. As a rule of thumb, local
sources (banks, etc.) will be more expensive than online sources.

Signature

Victor M. Martinez
Owned and operated by the Fantastic Seven (TM)
Send your spam here: uce@ftc.gov
Email me here: pistorLITTER@BOXaustin.rr.com

Takayuki - 19 Nov 2006 05:56 GMT
>We have the opportunity to buy a house in Port St Lucie from somebody
>John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
>do better. We hope he can, because we still couldn't afford to pay the
>first guy's rates. Please purr for this to work out!

It doesn't seem all that long ago that you didn't even have an
apartment of your own!  Purrs that you can get a good rate.  Your
credit score is something like 30% credit history, and I don't think
records generally transfer across countries so it would be
understandable if your own credit rating is still low.
Dewi - 19 Nov 2006 07:41 GMT
Purrs that you get your house and a good low interest loan for your
house.

Dewi.

> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!
Sam - 20 Nov 2006 00:32 GMT
> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!
Good rate mortgage purrs on the way.

Signature

Sam, closely supervised by Mistletoe

Stormin Mormon - 20 Nov 2006 00:37 GMT
Sometimes you have to call a morgage broker a pompous a.s, and move
on. This sounds like the moment du jour of the day.

Signature

Christopher A. Young
 You can't shout down a troll.
 You have to starve them.
.

We have the opportunity to buy a house in Port St Lucie from somebody
John knows, at a bargain basement price... we refused the offer a few
months ago because we knew couldn't afford it, and the guy called back
last week and dropped the price another twenty thousand! It's a nice
older house and it would suit us well... all we need now is a
mortgage. John talked to some mortgage people this week and we got a
not-very-good offer today (they promised a much better rate, but then
said 'well, this is the best you should expect with your credit and no
downpayment, so why don't you sign up this minute before we change our
minds...' I hate high-pressure sales techniques, so we're not going to
agree.)
The other mortgage person is still working on his and he says he can
do better. We hope he can, because we still couldn't afford to pay the
first guy's rates. Please purr for this to work out!
Matthew - 24 Nov 2006 18:16 GMT
Good luck Karen  some purrs  and a few Vulcan mind probes being sent

> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!
polonca12000 - 25 Nov 2006 21:41 GMT
> We have the opportunity to buy a house in Port St Lucie from somebody
> John knows, at a bargain basement price... we refused the offer a few
[quoted text clipped - 10 lines]
> do better. We hope he can, because we still couldn't afford to pay the
> first guy's rates. Please purr for this to work out!

Lots of purrs and best wishes for everything to go really well for you,
Polonca and Soncek
 
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