Thursday, October 18, 2007
Talk about timing. I just put up the post about NaNoWriMo thinking I would have the time to put aside in November to write. Um, maybe not. In a totally non-sci-fi related topic....I don't know how many people who come here pay much attention to what's going on in California, but we've been in the middle of a massive boom/bust housing cycle. My husband and I decided to sit the thing out when it reached the manic stage around 2004-2005. Everyone was telling us "you gotta buy in or you'll be priced out forever." But we just couldn't reconcile what the market was doing with common sense. I knew people who were buying homes sight-unseen out of fear of not getting in. I knew people who were taking out loans at 8-9 times income, which just blew my mind. But my husband and I stayed firm. We were not buying in. Anyway, about two years ago the market started stalling. It took awhile before people realized it was going to come down. This boggled my mind because the Fed had been tightening rates for over a year, but some people are a little slow to see the writing on the wall. The fallout has been a lot of foreclosures. A whole lot. I won't go into details but my parents got caught up in the re-fi mania while interest rates were low and now they are losing their home. Oh how fun. The upshot is that a lot of good properties have been popping up and my husband and I decided we were going to start looking for a house. I think the market will go down for awhile longer so I haven't been in a big hurry to buy, but I want to see what's out there, right? So we contact a realtor and look at two houses. Damn if a remarkable deal didn't pop right up. I mean, a sweeeeeeeet deal. A big house that is easily priced $50k below the rest of the market and we might be able to negotiate more off. Right now the thing is priced at 2001 prices and we might be able to take it back a year or two more. It's also remarkable in that it's bank owned and in pristine condition. Spotless. So we're making an offer. If it goes through I will be packing and moving in November. Needless to say, I doubt I'm going to be writing a novel that month. In fact, I'm so boggled right now I can barely write a post. I don't know about everyone else, but to me this is kind of scary-- but cool. Of course, if our offer isn't accepted, I can still write a book.