Chevrolet Corvette Stingray C7 Forum - View Single Post

MerF · 02-06-2009, 08:43 PM

Ok, I'm back and it's official! Woo-hoooooo!

Ok some more info:

The house was built in 1961. The older fellow in one of the kitchen photos (wife was shaming my D-SLR by the way, I was at work while the house was being inspected) is the owner. His father built the house and it was estated to him. Which means I'm technically the second owner of the house...in St Petersburg that's a rare happening.

The appliance are old, no doubt...but they are vintage. I looked it up and because they work and were maintained by a super-efficient Jewish family, they have some very good value. They are pristine, so they will be removed shortly and replaced with new appliances but they will be photographed and packed up for sale as soon as reasonably possible.

The house is a 3/2/1 with about 1800 sq ft. 4 year old roof, no flood zone (a real treat on a peninsula), new air handler and no signs of rot/termites anywhere in the house. Oh and we were given the house's actual blueprints from building. That is freaking cool, we looked at those a lot for fun.

Neat sidenote, the seller is a write for Rueters. Thought that was pretty cool, he's covered some pretty cool stories that I'm sure we've read at one time or another.

Unfortunately, now that I have closed, I get to go on a business trip! So we don't move in until I get back. In the meantime, the shag carpet is being pulled up and hardwoods are going in through most of the living space and new carpeting for the bedrooms. The kitchen and sunroom are going to keep the original turrazo flooring for now, because we want to do something special once we plan those rooms better.

Once we're moved in I will update pics and show the house a bit better.

As for the market...here's the deal. Everything is a short sale or already in foreclosure. We'd get with our kick-ass realtor every day and see a few more houses, and all of them would have an asking price that made it a short sale...and if it wasn't a short sale it would not appraise for asking and thus become a short sale through the process. I had seriously come close to giving up, then one day we saw this hosue pop on the market and decided to give it a shot since it was brand new.

We did not hesitate, the house was SO cheap, and not because the seller was in any hurry, he just didn't owe anything on it and wanted it to sell. So many houses (4/5 of the comps) were in foreclosure his value was shot to crap. We did the analysis and the house was worth $180k just a few years ago...we got it for $138 with him covering closing costs (so call it $130k). We made the offer that day and while our realtor was in his realtor's office they had to turn down no less than a dozen more offers over the phone...we got a steal.

So that's my affair! This is so wonderful, my monthly payments are wonderfully low, and once my wife finishes college and starts work again we are going to be living so far below our means that getting my 1SS/RS convertible in 2 years will be a walk in the park.

Thanks for the responses everyone, we're so happy! Any locals wanna come by for a BBQ or a meet...it's on!

02-06-2009, 08:43 PM	#12
MerF Go Rays! Drives: 03 Trailblazer Join Date: May 2007 Location: St Pete, Florida Posts: 2,532	Ok, I'm back and it's official! Woo-hoooooo! Ok some more info: The house was built in 1961. The older fellow in one of the kitchen photos (wife was shaming my D-SLR by the way, I was at work while the house was being inspected) is the owner. His father built the house and it was estated to him. Which means I'm technically the second owner of the house...in St Petersburg that's a rare happening. The appliance are old, no doubt...but they are vintage. I looked it up and because they work and were maintained by a super-efficient Jewish family, they have some very good value. They are pristine, so they will be removed shortly and replaced with new appliances but they will be photographed and packed up for sale as soon as reasonably possible. The house is a 3/2/1 with about 1800 sq ft. 4 year old roof, no flood zone (a real treat on a peninsula), new air handler and no signs of rot/termites anywhere in the house. Oh and we were given the house's actual blueprints from building. That is freaking cool, we looked at those a lot for fun. Neat sidenote, the seller is a write for Rueters. Thought that was pretty cool, he's covered some pretty cool stories that I'm sure we've read at one time or another. Unfortunately, now that I have closed, I get to go on a business trip! So we don't move in until I get back. In the meantime, the shag carpet is being pulled up and hardwoods are going in through most of the living space and new carpeting for the bedrooms. The kitchen and sunroom are going to keep the original turrazo flooring for now, because we want to do something special once we plan those rooms better. Once we're moved in I will update pics and show the house a bit better. As for the market...here's the deal. Everything is a short sale or already in foreclosure. We'd get with our kick-ass realtor every day and see a few more houses, and all of them would have an asking price that made it a short sale...and if it wasn't a short sale it would not appraise for asking and thus become a short sale through the process. I had seriously come close to giving up, then one day we saw this hosue pop on the market and decided to give it a shot since it was brand new. We did not hesitate, the house was SO cheap, and not because the seller was in any hurry, he just didn't owe anything on it and wanted it to sell. So many houses (4/5 of the comps) were in foreclosure his value was shot to crap. We did the analysis and the house was worth $180k just a few years ago...we got it for $138 with him covering closing costs (so call it $130k). We made the offer that day and while our realtor was in his realtor's office they had to turn down no less than a dozen more offers over the phone...we got a steal. So that's my affair! This is so wonderful, my monthly payments are wonderfully low, and once my wife finishes college and starts work again we are going to be living so far below our means that getting my 1SS/RS convertible in 2 years will be a walk in the park. Thanks for the responses everyone, we're so happy! Any locals wanna come by for a BBQ or a meet...it's on!