Monday, July 13, 2009
Goin' on a scorpion hunt
Mindlessly yours,
Heather
at
11:50 PM
25
Brilliant people's junque
Please stand by...
Mindlessly yours,
Heather
at
8:47 AM
21
Brilliant people's junque
Friday, July 10, 2009
A formal living room "before"
Mindlessly yours,
Heather
at
9:22 AM
28
Brilliant people's junque
Thursday, July 09, 2009
Heat waves, and boxes, and scorpions...oh my!!
Good gravy, I've been up to my ears in cardboard the past week.
Mindlessly yours,
Heather
at
4:52 PM
34
Brilliant people's junque
Monday, June 29, 2009
Phoenix
Mindlessly yours,
Heather
at
4:33 PM
53
Brilliant people's junque
Thursday, June 25, 2009
A real estate lesson...by Heather
Such brilliant suggestions all of you had! We do have a hotel reserved for the first week we're there. We figured that until we get in there and see what all needs to be done, we'd better plan on staying in a hotel.
We bought a bank owned home and got an amazing deal. We've had it inspected and it passed with flying colors, but I'm still nervous that we'll find little things.
So many of you asked why anyone would take all the switchplate covers. Trust me...she could've done ALOT worse.
When I went out to look for a house, I told my agent to just show me bank owned homes as they are at rock bottom pricing and there's none of the hassle like with a short sale. I learned alot and thought I'd pass some tips along.
When a person or people decides they can't afford to live in their house anymore, or the market has become so bad that they owe more on their house than it's worth, they go to the bank that financed the home and ask if they can sell it for less than what they owe. This is called a short sale.
A short sale can be veeeeery tricky and I, personally, avoided them.
The bank has to approve the price the owners want to sell the house for. The bank uses a fancy schmancy formula to arrive at a price that the market will bear and the bank can take a loss on.
Here's where it gets tricky...
The people will often list their house BEFORE the bank has approved the price. This is standard and understandable. They'll list it for what the houses around them are listed for hoping to get an offer or multiple offers. That way, they can go to the bank with an offer in hand in hopes that the bank will approve the price and they can sell their house right away.
However, this sometimes doesn't work.
Based on what the people still owe on their house, the bank may not approve the price.
Once the bank has approved (or given them) the sale price of the house, everyone is one step closer to being done. However, getting that bank approved price can take a long time. The banks are in NO hurry to lose any more money.
SO, the next step is where the big game begins. The price on the MLS (listing) of the house may look great. You may be looking at a $300,000 home with a listing price of $98,000. You think it's the deal of a lifetime and you enthusiastically put in your offer and wait for your dreams to come true.
BUT here's the trick. The real listing price might not be $98,000. It might actually be $220,000 (I'm exaggerating the pricing to make a point). The agent will put an unbelievable price on the MLS to bring in multiple offers and drive the bidding up to what the bank wants.
This. takes. months!! Up to a year sometimes. In the meantime, you're competing for investors who are paying cash for these houses. You have to act fast and be aggressive. You have to do lots and lots of research in public records to see what the original purchase price of the house was to get a sense of what might still be owed on the house. You have to know if they had a second mortgage and if they're short on that too. That means TWO banks have their hands in the pot.
You also have to know how many bids the house has on it when you bid on it. And if you really love the house, you have to bid the very MOST you can afford. You have to ask what the bank approved price is and you often will not know what the highest bid is.
It's like Ebay on steroids.
It's because of all of this that I chose to avoid a short sale. These houses are beautiful and so many of them looked like such good deals and I knew the families living in them were good people. I just didn't have the time or patience to play the short sale game.
Tomorrow...tips and hints on buying a bank owned home. 
Mindlessly yours,
Heather
at
7:31 AM
32
Brilliant people's junque
Tuesday, June 23, 2009
A relocating stream of consciousness.
I haven't really come out and said as much, but you probably figured it out. We bought a house out in Arizona and we're moving at the end of this week.
Packing gets harder every time we move.
I'm not a packrat at all. In fact, I throw too much away and will sometimes regret it. I hate clutter. I love to decorate and often will hit garage sales and clearance aisles, but I won't keep stuff we don't need which should make packing easier.
At least you'd think it would make it easier, but the fact remains that we still have soooooo much stuff.
And on top of packing, planning, and getting ready for a huge road trip I have to time things just so in order to prepare the new house to live in. All things considered, it was left in fairly good condition but the previous owner had an animal that wasn't house broken. There's some of the opinion that said pet was a dog. I'm almost positive it was a cat.
Irregardless, all of the carpet needs replacing and the sub floor needs to be Kilz'ed. Yeah...it's bad. Not so bad that we ran away from the house screaming but bad enough that I turned to PB and said, "I love it, but I shan't live in it until the cat tee tee has been dealt with."
The previous owner also took all of the switch plate covers from every. outlet. in. the. house.
Strange, no?
Yes.
So, I am in the process of...
(deep breath)
Or that I do not like the colors she painted on the walls.
I've got two weeks with no carpeting on the floor. What would you do?

Mindlessly yours,
Heather
at
8:32 PM
43
Brilliant people's junque
Monday, June 22, 2009
Pasture On The Water
This is quite possibly the coolest art I have ever seen. 
Mindlessly yours,
Heather
at
4:56 PM
16
Brilliant people's junque











