Saturday, October 27, 2007

The house on Grady Place


We went back to see the house again today. Some investors put in an offer yesterday, so we're having to move fast. The realtor selling the house is having the bank wait to respond to this offer until Monday so that we have a chance to throw something into the pot. Apparently the other offer is from an investor who lowballed it, so if we offer like $90k, we'd have a good chance of going under contract. We're nervous not because of the neighborhood itself, but because it's such a gamble to buy a house not knowing what's going to happen with the market and what's going to happen with home values in this neighborhood. We do love the place, but it's still scary when you get this close to potentially taking out another mortgage. Please let us know what you think ASAP!

8 comments:

Anonymous said...

IT IS ASOME FROM BEE

wendy_d23 said...

Go with your gut (and prayer). It will either feel right or not. I still have my doubts about our house all the time, especially with the market these days, but I try to go back to when we bought it and it felt right then, so no regrets. (hopefully!!!)

Jan said...

Looks like a cool house. You have one tough decision. I agree with Wendy, if it feels right, go for it.

Anonymous said...

Put away the emotion and start running the numbers of mortgages, taxes, up keep, reno, think of the neighborhood and think about the schools that frankie will be attending in 3-4 years (it comes quick).

If you're nervous now that might be your gut speaking--if this one gets away there are always great houses on the market that someone will sell you.

VirtualM said...

Yeah, I know, we're probably not going to do it at this point. We're happy to only be in a house for 3-4 years, if we won't lose any money on it. Heck, we've been in our current house for less than three years and we're already itchy to move.
We'll find something soon, I'm sure!

Patrick said...

Hey! I wanted to stop by and say thanks for visiting our blog (Westview Bungalow). We have some friends that live on Grady and are restoring their home. They are a Polish couple named Darek and Ewelina. Their house looks a LOT like the one you are looking at. If you are planning to stay in the house for 3-4 years you shouldn't have much to worry about at $100k. Before the market took a dive (nationwide!) fixer-uppers in the area were going for the $120-$140s. If we had some extra money we would jump to buy another house in the neighborhood. Anything in the $90-$100k range is a steal! Please feel free to contact us if you want more info on whats going on down here.

Patrick and Steffi
info(at)westviewatlanta(dot)com

claire said...

The house is great; it reminds me a lot of Kerry and Jakes- same sort of age, look and floor plan- have you seen theirs? I think they have four fireplaces as well.

For us, it came down to what neighborhoods we wanted to live in. You can avoid 'temptations' like these by identifying WHAT streets you would live on and sticking with that.

How was the PugFest?

Nia said...

I pray you're feeling more at ease with your decision. Your family is lovely!!

~Nia