Okay, so I haven’t posted about married life in, like, forever, and mostly that’s because Cash reads this blog, and really, what’s the fun in divulging juicy details about your spouse if they discover you did it twenty minutes later and can then pester you with nitpicky instant messages? Lauren has the added benefit of *most* guys she blogs about not actually knowing that she has a blog in the first place–and I say most, not all, because I know a few times, girl has had to self-edit to preserve the egos of potential love interests. Next time around, we are going with COMPLETE ANONYMITY, people.
But I don’t want to give the impression that life isn’t interesting right now, because it is. Kind of frantically interesting. The jobless thing…well…it happened. I hate it, but I’m weathering the storm and trying to be patient, all the while bugging everyone I have ever known to hire me, sheerly out of pity. I don’t mind a pity job. I will totally take one. I’m applying for assistant positions, for God’s sake. I have no pride.
On a different topic, we’ve been looking at all these houses.
We’ve been house shopping for what feels like years. The search has gradually been refined as we studied the market and figured out what we absolutely needed to have, and what we were willing to give up. We currently live in West Los Angeles, and for five years we have rented a somewhat crappy apartment in an otherwise fantastic neighborhood. Centrally located to major freeways, green and grassy, low-traffic, close to both sets of parents, a manageable drive to anywhere inside the thirty mile zone. In addition, we have some great neighbors, the apartment complex is small and management is off-site, and there is always parking. Giving up any one of these aspects would be very difficult. Basically we wanted to keep all of them as housing requirements, while also adding square footage, central air and a backyard–all without feeling like we were being totally ripped off by the overinflated bubble that is the Los Angeles housing market.
Guess what? This is impossible.
So we narrowed it down to somewhere within the southern portion of the San Fernando Valley, and lowered our standards. Even so, there are still hundreds upon hundreds of available homes–the Sunday open house tour can be overwhelming. Fortunately we have a secret weapon in our extremely affable and enthusiatic realtor, JL. JL’s major problem is that he is much too honest for his job. He can’t help blurting out an honest opinion if he hates a house, and that honesty has been an invaluable weapon for us. JL has been shephering us around the valley almost every Sunday afternoon. In a future post, I will run down a list of interesting things you learn while doing the open house circuit, including the fact that after awhile, you can’t visit someone’s home in real life without becoming bizarrely interested in how new someone’s dishwasher is and how much they might have paid for it.
Thanks to JL, and to Cash’s obsession with sites like Trulia and Redfin, we looked at what felt like every house for sale between the 405 and Universal Studios. Trudge in, put on the booties, roam around, trudge back out. One house fading into another. Private sellers seemed like the way to go–short sales are giants pains in the ass, while foreclosures are almost invariably falling apart crap heaps or lack something essential like, say, a kitchen.
We did find a couple of gems. The first was a four bedroom on the border of Sherman Oaks and Van Nuys. Close to the freeway, beautifully landscaped, cozy and homey. Best of all, it had an east coast-style, above-ground pool and a jacuzzi in the backyard. It was slightly overpriced at $599,000, so we put in a lowball offer for $500,000. We were willing to be countered up another $50,000, but we never got the chance. The owners rejected the offer outright, despite the fact that the house had been on the market for months. That was back in spring, and guess what? The house is still on the market. Assholes.
Discouraged, we kept looking. Within a short period of time we were glad we did. Housing prices have continued to drop in this awful market, and as usual, the only people benefitting from this crashing economy are first-time home buyers like us who are also lucky enough to have the credit and financial history to pre-quality for a decent loan. After the Van Nuys setback, Cash and I put our game-faces on. We became hyperfocused on finding the right home. We became unable to pass by an Open House sign without following it. We explored new neighborhoods. We dragged poor JL out at every opportunity, even if it was just for an hour on a Sunday evening.
And we did find some good places. The best of the lot was a foreclosure on the border of Studio City listed for the comparatively rock bottom price of $509,000. We were expecting nastiness, especially considering how nice the neighborhood was (crappy houses in nice neighborhoods are almost always overpriced), but to our surprise, it was totally cute. The former owner had spent a ton to update the bathrooms and kitchen. It had a backyard with fruit trees in it. It had, as they call it in homeowner speak, “good bones.” We walked through in silence, then walked back outside. Cash, JL and I looked at the house in silence.
“What’s the catch?” I asked.
We put in an offer the next day. The agents working for the bank selling the house icily informed us that they already had a pile of offers on the table and were currently sorting through them all. They had priced the house at way under value in an effort to get it off the books as quickly as possible, knowing they would be deluged with offers. Fair enough, we decided. We’d make it worth their while. We made an offer at $20k above asking price. You might think that’s crazy, in this market–but when you look at comparables in that same neighborhood, they run $700k, $800k and higher, so it made sense to come in strong at $540,000 with $10k back in closing credits.
Anyway, weeks went by and we never heard anything back. JL’s calls to the agent were ignored. We decided not to wait around, and continued the search. A week later we found another promising house in Sherman Oaks, competitively priced. We tried to put in an offer, but were told they wouldn’t be accepted until the end of that week.
As it happened, the end of that week, we were leaving on vacation. After some discussion, we filled out the official offer and sent it over to JL to submit. I actually wasn’t aware that when we left town, JL had decided to hold off submitting the offer for a couple more days.
It paid off. While in Hawaii, we got an email from JL titled, “OMG.” The agents on the foreclosure had come back to JL, saying we were their first choice of buyer. A few days later, they’d sent over a contract to sign. After some haggling (completely unsuccessful–word to the wary: banks fielding offers from multiple buyers have no incentive to meet any of your demands!), and some last minute hand-wringing as we waited for the bank to sign off on the contract, they finally did. And we opened escrow last Friday.
Now, it’s a whole new world of panic! Inspections! Appraisals! Homeowners insurance! Titles! Beehives in the electrical panel! The niggling fear that the house has something horribly wrong with it and we were completely duped! Tomorrow is the major inspection, after which we will understand exactly what kind of work this house needs and what we are getting ourselves into. Until then, high hopes!
