Wednesday, January 26, 2011

Its Ours!!!! Its Ours!!!!! Woo-Hooooo!!!!!!!!

ITS OURS!!!!!! ITS OURS!!!!! ITS OURS!!!!!!!!!!!!!!!!!!!!!!

Over the weekend we had a very nice notary public come to the house so we could sign all the papers without Mrs. Madscientist having to miss any work.

After that we were like, 'Hey, why in the hell are we going to wait for the 31st to close.???' All the hurdles where jumped and we wanted to close quick before ANYTHING else could pop up. So we sent an email around to everyone about, 'Hey, how about we close on Wednesday the 26th instead??' Our loan guy was able to fund the loan on the 25th and the sale was recorded on the 26th and its ours!!!!

HURRAY ITS OURS!!!!! THE $26k GAMBLE PAID OFF!!!!!!

We didn't actually know when exactly it was going to close so I was out grocery shopping at Safeway when my Realtor called. He said,'Daniel the sale recorded I'm heading over to the house now to get the keys where you at?' We agreed to meet in the Safeway parking lot in 15 minutes.

I immediately called Mrs. MadScientist and gave her the good news!!!! It was finally over!!! All the hoops, the hand wringing, the stress, the many, many sleepless nights...

Mrs. MadScientist started crying, so of course I start crying right there in the meat section of Safeway.

HURRAY ITS OURS!!!!!!!!!!!!!!! HURRAY HURRAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Mrs. Madscientist came home a bit early from work and we scooped up the baby and drove right over there. It was really, really, really. surreal driving up to the house and down that looong driveway to the garage...it was ours.....wow.

The baby wanted to get out and run around the back yard and we played on a swinging bench there for a while but I was itching to get inside.

We went through the entire house turning all the lights on and looking out the windows and the baby danced around in the middle of the big empty rooms...it was awesome...lots of laughing and crying and giggling.

Here's the best new thing we discovered about the house...from one of the top floor rooms you actually have a little-bitty water view of the bay!!! Mrs. MadScientist has always dreamed about living somewhere where you can see the water and this new surprise just really sealed the deal for us that this is 'The House' for us.....

Boy, I hope we can get a couple of stress free nights of sleep before we have to start the moving, and building process at the new place...oh and sell the current Chez too....no stress there no sirree bob...

One Last One
WOO-HOOOOooooooooooooooooooooooooooooooooooooooooooooooo!

Wednesday, January 19, 2011

We've Traded Rats For Birds!!!

Dead Biiiird gonna put it on yooooouuuu!!! Dead Biiiird gonna put it on yooooouuuuu!!!!
Bonus points for anyone who got that reference...

Actually the credit for this post has to go to our friend Kevy...it was all her idea! Especially the title.

Stopped by the house today to unstick a window that the inspector had stuck open...pay the guy $1300 bucks to inspect the house and he can't even unstick the window he stuck.....

I went into the room and was greeted by this grisly site....apparently a small bird had flown into the open window and somehow fallen between the panes. You can see the struggle marks on the glass....hope this isn't some kind of omen or something.

Kevy saw this and shouted, 'Holy Crap you've traded rats for birds!!!'


I was able to unstick the window and gently remove the bird with a couple of putty knives... We gave it a dignified burial.



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That's it for now still have a crazy hurdle to jump this week...next post I promise...

Friday, January 14, 2011

Appraisal And Loan Are Finaled!?!?!?!?!?

Hurray!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Another post with no pictures but plenty of exclamation points!!!!!

We just heard from our mortgage broker and after a small clarification of our income its official!!!

Our loan is done! The rate is locked in @ 4.99% APR.

Hurray!!!!!!!!!!!!!!!!!!!!!!!!

The appraisal came in where we needed it too and the loan underwriters are happy with the appraisal!!!

Hurray!!!!!!!!!!!!!!!!!!!!!!!

One interesting thing about the appraisal was that because the house is a legal 3 unit the appraiser had to come up with reasonable rent numbers for all three units. We where shocked to see that his findings say that the $900/month rent for the studio apartments was a good average price!?!?!? Ha, seems high to me...


One exciting thing he came up with is that if we rented out all 3 units we could get $5k total!!! Wow, that's more than our all in mortgage-property tax-insurance monthly costs!! Course we're not going to do that because we're going to be living in the main unit.

Hurray!!! Now its just some paperwork....whew.....I should feel more relieved but I don't....

That was the last big unknown hurdle that was out of our control...but there is still one hurdle left and that's getting the city to uncloud the title....a subject for another post.

Much more celebratory Margarita's for everyone!!!
Man, this whole experience is driving us to drink unhealthy amounts of alcohol....but we can stop any time we want too!!!

Wednesday, January 12, 2011

So, What Ya Gonna Sell It For?!?!?!?!?!?

Funny Story.....we don't know yet...

In an effort to get the word out about our selling of the Chez and to help us figure out a price our Realtor put together a group of Realtors to come look at the house and give us their opinions on what they thought the house could sell for now and what it could sell for when it was finished. Besides what my Realtor comes up with we'll probably average the rest of the numbers to help arrive at a sensible selling price. When I say sensible I mean a price that is as high as it can possibly be but still have us in contract within a month of listing the house.

I put together this list of 'positives' for the Realtors to think about.

1. It’s a legal triplex of ~2858 sq ft with no parking requirements.
2. New foundation-slab where we dug down to give 9’ ceilings on the bottom floor.
3. An extensive under slab drainage system means bottom floor stays bone dry.
4. Earthquake retro-fitting done.
5. Electrical service upgraded to 200amps with 100amp sub-panels on each floor.
6. Natural gas service was upgraded and all the gas lines where re-piped.
7. Warm water radiant heating installed on first two floors. System is set up to also heat 3rd floor. Luxurious, energy efficient heating!
8. Stamped concrete outdoor sunken living room with natural gas plumbed fire pit.
9. New fancy ‘carriage door’ automatic garage door.
10. Custom antique brick driveway and path.
11. All work done with permits.
12. In Franklin School District.
13. 4 Houses down from Little John park.
14. Has tankless water heater installed-Endless eco-friendly hot water.

I was out getting groceries (doing the standard Alameda TJ's and Safeway double play) put arrived at the house just as the tour was ending.

Who should I see walking out of my house but several Realtors who I have reviewed and who have no love for the MadScientist....AWKWARD!!! Even the owner of the brokerage was here....It should be fun to hear their responses...

One Realtor even said that if she were younger she would buy it!!

There are apparently already several all-cash buyer types who are interested in touring the Chez.

I'm wondering if I'm going to see a correlation between Realtors who have all cash buyer clients and their estimate of the properties sensible selling price....

Okay, But Really, What Ya Gonna Sell It For!?!?!?!
Just as an exercise in ridiculousness I'll do the math that most folks seem to do to arrive at a selling price for their homes...
Purchase Price of House- $570,000 (its not like its a secret).
Cost of improvements - $200,000 (would of been a lot more but we did a lot of the work)
So Sensible Selling Price=$770,000 right??? Right???

Ya Right, Don't I wish.

Friday, January 7, 2011

Our Loan Is Approved!!!!

One giant hurdle out of the way!!!

Our mortgage broker just sent us an email saying he got our loan approved!!

We have been seriously sweating bullets about this...cause we needed to be approved for the new loan without the very common provision of having to sell our current house first.
Well, the loan is approved pending a favorable appraisal....

Guess they think we can handle both mortgages indefinitely?

Time for many celebratory margaritas!!!

We'll start stressing out about the appraisal tomorrow...but still..

We got our loan approved!! YAY!!!!!!!!!!

Sunday, January 2, 2011

Holy Moly We're In Escrow!!!!!

Yep that's right folks you read that right......We're in escrow on a new to us house!!!!!!

Holy Moly, I don't know whether to jump for joy or puke.....

The Story:

Turns out the original 'winner' tried to squeeze the bank to the tune of $100k and the bank told them to take a flying leap, I guess...

We were told by the listing Realtor to resubmit our bids....I think it was us and 2 or maybe 3 other people...one of who reads this blog!?!??!?! Hi R!

We fricken found out we were the winner when we where down south in Hell A visiting relatives...we had to do all the signing of contracts by an ancient fax machine and we had to schedule all our inspections long distance.

Today I dropped off our good faith deposit and found out that we've been in escrow since Thursday the 30th! I freaked initially cause I knew that they are only giving us a 7 calender day window to lift our inspection contingency....and all of our inspections are scheduled for Weds the 5th, a day before the deadline!!!

I've been told that the bank that owns the property has no problem extending the inspection period but it hasn't been made official yet...I'll sleep better when it does....not like I'm sleeping a ton now anyways...

Another thing that was inconvenient was that they only gave us a 10 day window for our loan contingency....seems a bit short to me, no?

Come hell or high water nothing that we do will cause this place to fall out of escrow! The only thing that has us losing sleep is the loan appraisal....the house is unique and has issues and I'm not sure how well the appraiser will take to it...

So, in the finest Neumansky tradition we are once again paying too much for a house that needs too much work...

Next up, lots of pics...

Next next up, selling the Chez,....how're we going to do it?