Californiaman Posted November 18, 2010 Share Posted November 18, 2010 Put an offer on a home today. It's a bank owned 3,000 square foot, four bedroom, three bath home on half an acre corner lot. It's in great shape too. The listing price was $120,000 below the comps. We offered a little less than the listing price of $567,900, plus closing costs ($17,000). There is a three car garage where two stalls were converted to a very nicely done finished room (man cave). Although I might turn it back into a garage at a later time. Hopefully we'll know something by Friday at the end of the day. Wish me luck. Link to comment Share on other sites More sharing options...
cabba2203 Posted November 18, 2010 Share Posted November 18, 2010 Congrats! I hope you get it! It's a wonderful thing to own your own home. I'm still working towards that goal myself and stop being a nomad. Link to comment Share on other sites More sharing options...
sparky scott 29 Posted November 18, 2010 Share Posted November 18, 2010 Hope ya don't have to sell any of your babies to buy it?! Link to comment Share on other sites More sharing options...
Big Bill Posted November 18, 2010 Share Posted November 18, 2010 I'll keep my fingers crossed for you. Good luck. Link to comment Share on other sites More sharing options...
Jeff-7 Posted November 18, 2010 Share Posted November 18, 2010 Good luck man Link to comment Share on other sites More sharing options...
chase1410 Posted November 18, 2010 Share Posted November 18, 2010 Aye, I hope good news is in store for you... Link to comment Share on other sites More sharing options...
retrosurfer1959 Posted November 18, 2010 Share Posted November 18, 2010 good luck - It's a weird market right now my wife and I made some ridiculously low offers back in July for a couple of smaller 1600 sq. foot homes that the bank had repo'd, the offers were for well less than half of what the home was sold for two years ago when they were built, but it was a bank owned home so we had nothing to lose. Heard nothing for months and then last week they called us and told us we could have them both. So I'm gonna be a landlord I guess on at least one of them, the other my wife wants to just keep for a few years for a possible retirement home and she doesn't want renters to trash it so she thinks I should use the whole thing as a man cave and art studio. Anyway sorry to hijack your post - Best of Luck. Link to comment Share on other sites More sharing options...
MrNylon Posted November 18, 2010 Share Posted November 18, 2010 Hope you get man. Good luck. Link to comment Share on other sites More sharing options...
ChanMan Posted November 18, 2010 Share Posted November 18, 2010 Good luck man!! This your first home? Link to comment Share on other sites More sharing options...
Californiaman Posted November 18, 2010 Author Share Posted November 18, 2010 Chan, this is indeed our first home. We've been renting for eight years where we're at now and before that we were in a home for 4 years renting there. The interior needs a little paint. I'd take out a couple of shrubs and trees and back fill a small artificial pond in the back yard. I'm going to plant some fruit trees too. Link to comment Share on other sites More sharing options...
surfpup Posted November 18, 2010 Share Posted November 18, 2010 Looks good, CaliMan. I wish you the best of luck with your bid. Nothing like a home to keep you even busier than you already are! Link to comment Share on other sites More sharing options...
Californiaman Posted November 18, 2010 Author Share Posted November 18, 2010 good luck - It's a weird market right now my wife and I made some ridiculously low offers back in July for a couple of smaller 1600 sq. foot homes that the bank had repo'd, the offers were for well less than half of what the home was sold for two years ago when they were built, but it was a bank owned home so we had nothing to lose. Heard nothing for months and then last week they called us and told us we could have them both. So I'm gonna be a landlord I guess on at least one of them, the other my wife wants to just keep for a few years for a possible retirement home and she doesn't want renters to trash it so she thinks I should use the whole thing as a man cave and art studio. Anyway sorry to hijack your post - Best of Luck. Don't think you hijacked my post. Not at all. This same home sold in 2005 for $975,000. I'm confident the bank will accept our offer. Link to comment Share on other sites More sharing options...
Riverside Posted November 18, 2010 Share Posted November 18, 2010 Congratulations. Link to comment Share on other sites More sharing options...
ChanMan Posted November 18, 2010 Share Posted November 18, 2010 Door knobs... light bulbs... stock up! Dude you are gonna LOVE being a home owner!!! Link to comment Share on other sites More sharing options...
Tman5293 Posted November 18, 2010 Share Posted November 18, 2010 Hope you get the house! I have a question for you homeowners. Isn't $537,900 a lot of money for a 3000 square foot home? My parents bought our current home in 2008 for somewhere around $250,000. It's 3100 square feet and it was built in 2007. So $537,000 seems a little high to me. But then again, I'm only 16. I have absolutely no experience with house buying. Link to comment Share on other sites More sharing options...
Tman Posted November 18, 2010 Share Posted November 18, 2010 Awesome, Hey best of luck and hope you get it! Drove through Santa Maria last weekend. What a great place. Keep the Mancave or better yet, turn it into a practice room for a band! Link to comment Share on other sites More sharing options...
Tman Posted November 18, 2010 Share Posted November 18, 2010 Hope you get the house! I have a question for you homeowners. Isn't $537,900 a lot of money for a 3000 square foot home? My parents bought our current home in 2008 for somewhere around $250,000. It's 3100 square feet and it was built in 2007. So $537,000 seems a little high to me. But then again, I'm only 16. I have absolutely no experience with house buying. Not in Cali. In fact it's a good deal even though it's a helluva lot of money. Link to comment Share on other sites More sharing options...
ChanMan Posted November 18, 2010 Share Posted November 18, 2010 Tman5293, real estate is valued by location. The market in California is far different than it is in Texas, or Tennessee for that matter. My home is tiny by comparison, and has a tax value of over 100k, for instance. It sits on an acre lot, and I'd wager you couldn't touch an undeveloped acre lot in Houston for that. Make sense? Link to comment Share on other sites More sharing options...
Tman Posted November 18, 2010 Share Posted November 18, 2010 Good luck if I didn't already say it! Link to comment Share on other sites More sharing options...
Californiaman Posted November 18, 2010 Author Share Posted November 18, 2010 Awesome, Hey best of luck and hope you get it! Drove through Santa Maria last weekend. What a great place. Keep the Mancave or better yet, turn it into a practice room for a band! Oh my amplifiers, guitars and gear are the first thing I'm moving in there. Next time you're in the area let me know. We've got some great affordable eateries around here. Roony's is a new Irish pub in Old Town Orcutt and certainly worth visiting. Link to comment Share on other sites More sharing options...
Bowdiddley Posted November 18, 2010 Share Posted November 18, 2010 Looks good, CaliMan. I wish you the best of luck with your bid. Nothing like a home to keep you even busier than you already are! Truer words have never been spoken! :lol: Best of luck Cali, hope all goes smooth! Link to comment Share on other sites More sharing options...
ksdaddy Posted November 18, 2010 Share Posted November 18, 2010 Jayzus. I'd never make it in today's market without my head exploding. I bought my house w/2 car garage and 2 acre lot in 1983 for $13,000. Link to comment Share on other sites More sharing options...
Californiaman Posted November 18, 2010 Author Share Posted November 18, 2010 Jayzus. I'd never make it in today's market without my head exploding. I bought my house w/2 car garage and 2 acre lot in 1983 for $13,000. Oh how we long for those days. California real estate is indeed out of whack. What's worse is that all of the new housing developments are right on top of each other. It's crazy. If I can jump from roof top to roof top, they're too close. Link to comment Share on other sites More sharing options...
LPguitarman Posted November 18, 2010 Share Posted November 18, 2010 Location, Location, Location... California is high. That same house would probably go for half that amount in the St. Louis area depending on the county of course. Hope you get it Cali-Man. Link to comment Share on other sites More sharing options...
heymisterk Posted November 18, 2010 Share Posted November 18, 2010 That is sweet. Honestly, I don't know how Mr. and Mrs. Average afford a home in some parts of the country. Regardless, good luck Cali! Link to comment Share on other sites More sharing options...
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