December 19, 2008

Trying to move up

Posted in Home at 3:47 am by ListenMaudy

Having moved back to Los Angeles seven months ago, I decided to jump right in and buy a house. Might I get laid off any day? Yes. Is my 401(k) going down the tubes? Yes. Will that deter me from buying a house? No!

Even though housing prices may be low and they may not have hit rock bottom, that doesn’t mean that it isn’t a great time to buy a house. Foreclosed houses are selling for so far below value, that if we find a house I love and buy it, we will practically make an instant return.

That doesn’t mean that I want to buy a house that will stretch our budget and put our future at risk. On the contrary, we can buy a much better house for much less than if the housing market hadn’t taken a dive.

The houses on the market now boggle my mind. We saw a house with an enormous lot, just under 1,800 sf of living space, and a row of trees lining the backyard that made it feel like you were in the middle of the woods. It was about five blocks from some train tracks, but you would never know it standing in the backyard.

The one thing about the house was that it was bank-owned, but not only was it bank-owned but it had also been seized. It had apparently been used as a marijuana-growing operation. We nicknamed it “The Pot House.” Watch out while my creativity runs wild! Unfortunately we had not gotten pre-approved for a loan, so we couldn’t make an offer on it. When it sold, I was heartbroken. I had my heart set on that house and had convinced myself it was where we should live.

Now, I have moved on to bigger and better things. I’m trying to move on and up and be a grown-up!

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