Not Yet!

Still awaiting the finale word on the loan. Talked w/Michael yesterday, said he missed a couple of FHA forms I needed to sign, so he's going to get them to me ASAP so I can finish them off, then the papers will go to underwriting. Dang. . . hurry up and wait - again. Now I should before the 4th of July holiday. Just imagine - if this all goes through, by then, I'll have a week and a half to get my crap together! Holy SHIT!!!!!!

Karen and I went to White Fence Farms for dinner tonight. We've talked about going there for the 4 years I have been here - so decided it was time (had a reminder, too - we forget about doing it until we drive by there like once every couple of weeks, then it leaves our thoughts). It was a decent dinner, just under $40 for the both of us with dinner, tea and 1 side salad. Not bad. A cool place, I must say! The way they have things set up, kind of reminds me of a "country Vegas." Get a number, wait for 45 min, sit down with the masses, order food, eat, pay at a register on your way out. Only difference - NO buffet. There was plenty to do around there while you wait for your number to come up, so it was actually a fun experience, I must say! I highly recommend visiting there - but if you go on the weekend, get there early. We arrived just before 5:30, waited not quite 45 min. However, they sure know how to get more money out of you, albeit cheaply, but more of it!

This coming week is going to be very busy for me. Need to finish my homework tonight (tomorrow at the latest); retirement party for my former boss, Skip Monday night; home Tuesday, then either baseball games or lacrosse games the rest of the week - literally. But next Saturday is Matt Holiday Bobblehead night, so it will be well worth it :) I have to buckly down and get to sorting/packing next weekend, feeling pretty overwhelmed at all the things I need to get done - whether I get to move or not. So, if anyone feels like taking pity on me, I'd be mighty grateful for any help I can get :)

Guess I better get some rest, now. Have to pick up my friend Sue from the airport tomorrow morning - we'll be shopping at Bass Pro Shop and putting together a scrapbook for Skip's retirement on Monday. Going to dinner at Pappadeaux's, so it'll be fun - but a very busy - next 2 days. *Whew* I'm just tired thinking about it!

Catch y'all next week. . . . S.

Why Is Now the Right Time to Buy a Home?

Home ownership just scares the bazookas out of me, but yet I'm excited at the same time. I can't say that financially I'm entirely ready for it, but I can afford to do it. I just need to be more creative with my time since I won't be able to spend any money for awhile :)

The real estate market all over the US is very volatile. You have some places where the market is staying consistent - meaning prices haven't increased or declined much (which can keep the dream of home ownership out of reach for some people). Then you have places like Colorado - I must use the Denver area as an example - south around Parker, although sales are down, they are still steady and folks don't have to sacrifice the price of their homes - most are newer. There are people that will buy them for asking price. Then there are the places that I have been looking - the city of Thornton, for example (north Denver Metro). Up there, the homes are older, built mostly around the 60's- 70's. Yes, older, some with what we would deem now as non-flexible floor plans and smaller. However, they are the dream homes for those that like to fix up houses. The opportunities are tremendous!

For the property I am trying to purchase, it is the opposite of what I wanted to get originally - a ranch style 3 bed, 2 bath with garage. It is a 3 bed, 2-1/2 bath, but 2 floors and a carport. Not my ideal living arrangements; but for the short term it will do. Purchasing a property to fix up and sell in a few years - an investment property in my case - is what I decided was the best choice for me. Setting up an FHA loan where I don't need to have so much money down to purchase a home, is the first step to making this work. Michael, my mortgage guy, helped me figure out the best way to go in financing, helping me keep my closing costs down to a minimum - and he has accomplished that nicely! But I think the biggest thing for me in this entire decision is that I found a property that really is a killer deal. The market will bounce back in 3-5 years, by which time I will be ready to sell and should be able to make a tidy profit on it (hopefully I won't get killed in capital gains taxes, but we'll see who is voted into office and what changes are made by then). I'll be able to pay off any remaining bills I have and become debt free; then purchase another home that I will like more and stay in longer.

So, today's investment will definitely help me towards my retirement in the future. Who knows - I might like doing this so much, that I'll keep doing it for a few more homes.

I also have to mention - as I look at the prices to fix/replace items in the home, it has been brought to my attention that there are many other places in which to go to purchase what is needed for home improvement. Originally, I wanted to purchase the new appliances that are desperately needed in this home, and all new everything (via Home Depot, Lowes and Appliance Factory Outlet). But realizing my budget that I have for the immediate fixes, that will have to wait. My friend Stephenie recommended that I check out the Habitat for Humanity store as well as another place called Bruces (?). They have new and used items, selling them inexpensively. In addition, purchasing from them makes a percentage a tax-deductible donation right off the top. I went to the HFH the other day and was pleasantly surprised by what I found. Now, none of the appliances are new; however, they are usable. Each is cleaned up and priced to sell. You can get stoves for $100 and refrigerators for up to $300 (the one I found had bells and whistles on it - doubt it will be there when I go back, all I can do is hope!). They also have new tile, wood flooring, caulking, everything you would need to do home repairs. Even kitchen and bath sinks! Wow - I'll be able to get a lot of bang for the buck at this place, allowing me to fix up my abode and make it look better than it ever has.

I'll find out at the end of this week about the finalization of loan acceptance. Until then, I wait. . . ugghh.

The "Possible" New Digs, part deux

Today I received the beginning title paperwork for the townhouse as well as tax information and HOA information. Michael tells me that everything could easily be ready to go by the end of next week, which means I could close earlier if I wanted. However, I won't be ready to move sooner than the original July 15th date that we have been shooting for, so don't think I'll take advantage of that opportunity.

A few have asked where this property is. It is about 6 blocks from Water World (woohoo - cheap tickets@!!), just southwest of 88th and Huron in the Park North Condo Community. I'd say it's almost a stones throw, but I definitely don't have the arm of Randy Johnson, otherwise that would be accurate :) I haven't divulged much about this place yet, just in case something goes wrong and my poor heart gets wrenched from my chest. Neither John (my agent) nor Michael believes that will happen, but I won't really believe it until the loan is finally approved. So far, things have been going VERY smooth, I think more so than John has expected.

More later - Rockies play Clevelend starting tonight, so we can see our buddy Jamie Carroll out and about on the field again, even though he is with the opposing team, now. He's been doing well with the Indians. If he hit the field in tonight's game, I'm sure he recieved a standing ovation. I'll let you know tomorrow night if we do the same thing.

Now - back to the homework!

The Good and the Sad. . .

I have started the process of home ownership. A week ago, went through the offer/acceptance part of the process. This past Thursday, we did the inspection of the property. With the exception of a few minor things that need to be done, everything looks good. My friend Shannon came with me while Troy (the inspector) worked on his report and we measured everything. She took pictures as well - she wants to help me get this new place of mine into shape, so I'm letting her have at it. I went to Home Depot today to start pricing out the things I will need for the immediate issues, as well as the items I want to do in the future. If I can do most of it myself, I'll be able to accomplish it in less money than I had thought initially. I'm just very blessed that I have so many friends and several have already said they will be there to help out with my first home.

The next step is the mortgage. I have to send the rest of the paperwork in tomorrow so they can get going on that. I don't know when Michael (my Mortgage Broker) will be getting the appraisal done, but I assume it will be soon so they can get the FHA loan going. We have a scheduled close date of 7/15, so hopefully it will all pan out for that day. I plan on closing late in the date, then taking for the remainder of that week off to do the moving, painting, etc. I do have to say that I got a killer deal on this place (for the semi-decent shape it is in, too) and will be setting this up as an investment property to create capital for me in the future.

In the midst of this, the saddest news came upon our country on Friday when Tim Russert passed away. The news really was a blow to people around the country - I was very upset upon hearing the news. In reading some blogs on 9news.com, some people were saying "he was so left," and "why all the attention on him?" Well, first of all - who cares where he leaned? His biggest thing was to educate the public, not tell them which way to vote. I don't care who you are, if you thought his line of questioning tried to guide the public in thinking one way or the other when he spoke with politicians, then YOU WEREN'T PAYING ATTENTION! Mr. Russert went after everyone, Democrat, Republican, Independent, Green Party, etc. He asked the tough but fair questions - holding those people accountable for the things they said they would do and didn't. The US has suffered the greatest loss of a gracious, caring person. Wow - I'm still very upset. I pray for his family and all those that were his friends. Just glad I had my 3 minutes of time with him in April at the Damon Runyon awards ceremony honoring him - wish it could have been a whole lot more. There were so many questions to ask, and I got nothing in due to just being nervous. I was just happy to say "Hi" and "thanks for coming to Denver!"

Well, continue to watch this blog as I work my way through the up and coming issues of "possible" home ownership as well as school - that's a whole other post!!

It has started. . .

John and I looked at 3 places during my lunch hour this past Thursday - 1 was completely unacceptable, one had an awesome wood floor in the kitchen (but the overall design sucked) and the third needs work, but is just about right. The exact opposite of what I wanted, which was a ranch level with garage - I am now in the beginning swings of the purchase of my first home. Bank accepted my offer yesterday on a 2 story townhome - 3 bedroom, 2-1/2 bath at a little more than 1400 sf. with a 2 space carport. They came back with a contract right away, so after much discussion (and many questions) with John, I signed on the dotted line, gave them a check for "earnest money" and am on my way! I'm meeting with my mortgage guy tomorrow to work on the paperwork for the FHA loan. Next week, after the bank starts their paperwork, I have to schedule the inspector.

At the inspection, I'm going to take my friend Shannon with me and we'll look at the place so she can get to work on some decorating ideas. I'll need to take measurements to start getting costs on the carpet, appliances, a new kitchen sink and counter top; then figure out paint and curtains. We are looking at a closing date of July 15th, so I'll probably try to schedule that later in the day then take the rest of that week off to get things moved and prettied up. So much to do and so little money to do it with!! Dang. . . .