Not much happened over the weekend. The handyman was supposed to start working. I haven't heard anything, so I'm assuming that's progressing fine. On Sunday, I stopped by Goodwill and picked up a chandelier to replace the one currently in the house. It cost $15, but I also donated some stuff to Goodwill, so I got a 20% off coupon, bringing my cost down to $12. And the chandelier even came with light bulbs, so no need to buy those! I'm taking tomorrow off work to go out there and drop it off and wait for the delivery and installation of the new dishwasher, stove, and range hood. I'll probably also bag up some of the trash and take it away just to have something to do while I wait.
The handyman claims he'll be done by Friday. Even if he's not, when it gets towards the end of the week, I'll have the carpet people go out and give me an estimate on replacing the carpet. This place is about 100 square feet bigger than my last property, and that cost $800 to recarpet. But I also did not replace the padding in that house. I may have to here, since it's so old. And after the handyman is done and the carpet has been laid, I'll get the cleaning people in there to clean it up. After that, I'll get it on the market.
I may have to delay things a bit. A family member is not doing well and I may have to leave the state for a funeral any day now.
Monday, March 21, 2005
House 11 Update
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12 comments:
Sorry to hear about your ill family member. Hope everything turns out okay.
Do you find it easier to hire cleaning people than to DIY? also, what type of people do you hire and what do they do (IOW, do you hire a maid-type service or something else)?
The cleaning I could do by myself, but, as you may have picked up from other comments, I really value my spare time these days, so I am a big proponent of hiring people. You could say I'm using other people's time :-) The cleaners generally do a better job than I would anyway (for instance, I suck at cleaning baseboards). I found the people I use from a classified ad in a local newspaper. Their ad mentioned they clean houses between tenants and after move-outs, so they are used to dealing with the messes people leave behind when they move. They charge on an hourly basis. I forget the exact amount.
I see what you mean. My mother and father-in-law are retired now, and both said they are willing to help me with repair/clean-up work when I start closing on properties. My MIL is a clean freak, so I know she'll leave the place in immaculate condition. My FIL was a ceramic tile setter his whole life, and knows the construction trades inside-n-out, so he can do all the small repairs. I'll leave major repair work to the pros. For the particular property I'm on now the only outside help I'll get is with Lowe's to have them install the combination microwave/vent over the tange.
Shaun,
I have read your blog and feel compelled now to move to Arizona myself. This is because I am from California, and that in itself says it all. This market is not suitable for a first time buyer and I am sure you would agree. Therefore, I wanted to pick your brain, to see which direction I should take as far as moving out there. Here is my game plan, please make any suggestions as you see fit to each one.
1. move to the phoenix area, and live in an apt. first, then go find a suitable home
2. Bypass the apt step and make a series of weekend trips to AZ to check out homes with a real estate agent, which saves me the expense of moving twice, but I would be incurring the travel costs of traveling out there, not to mention the time costs.
Here is some background information. I am a first time buyer, I make a comfortable income in California, but that does not allow me to afford a home in SF, or LA. I can afford something undesirable in Central California, but there is no point in doing that, because metro Phoenix is so much more desirable because of the amenities and the price similarity. I have an above 700 fico score, which can only be in my favor. I have less than 13K in debt, which means I can handle debt, but I do not go out of control. Debt= car + credit cards.
With all of that, my main motivation for the single family home is to get a tax shelter and provide for a home of my own.
With this set of reasons, I hope to then go on to get other assets and eventually offset my liabilities. This is of course through more rental or investment properties and a combination of stocks and bonds.
Please give me your thoughts about this set of plans.
Thanks in advance and best regards,
Paul
Paul - I know EXACTLY what you mean! I'm a Southern California native and I reached the same conclusion you did - there was no way I was going to be able to afford a house, so I left the state.
In your case, it's not a simple issue of buying a house. You will also need to find a new job out here. So I guess it depends on how you want to do things - move and look for a job, or look for a job and then move. Personally, I would find a job here before moving. Of course, lenders also want to see steady employment before lending to you, so that kinda forces you to go the apartment route first. But if you have a big enough down payment, they might relax their requirements a bit.
You don't say where in California you are, but Phoenix is only a 5-6 hour drive from the Los Angeles area, so weekend trips aren't too bad. (And Southwest often has $39 each way fares too, although then you'd need to rent a car.)
Shaun,
Thanks for getting back to me. I will be working from home like yourself, because I work in the Healthcare Finance industry and the entire company works off of terminal servers. Therefore, finding a job is not an issue.
I think finding the right first home and figuring out whether or not I should rent an apartment before buying the home is the first major step that I have to figure out.
Please let me know what you think and whats the best route. Maybe you can even unload one of your homes on me!
Thanks,
Paul
I wish I worked at home! I still have a "day job" I toil away at. Since you don't have an issue with getting a job, I would try to buy a house to live in rather than renting.
Shaun,
That means that you would recommend that I take several weekend trips to AZ to check out available homes? But where do I start doing that? Which areas are desirable? Should I start by contacting an agent? But how do I know if I can trust him/her?
ugh this blogging thing is killing me, is there a more efficient method of getting back to each other? Do you use any IM services?
I use MSN at home/work, let me know if thats a possibility, too many questions to write out
Paul - Contacting a real estate agent would be a good first step. When you use one, it is their job to work for you and work to get you the best deal. Realtors have a code of ethics they have to follow, so I wouldn't worry about not trusting one. Pick one, tell them what you are looking for in a home (location, size, price range, etc.). They will come back with a list of homes. You can come out to visit them then. You can also check on the web. Odds are, your agent will send you a link so you can view the home details on your computer. Your agent will know the different areas around town and can guide you towards a place to look. If you are uncomfortable doing this, perhaps you should find a place to rent on a month-to-month basis. That way, you can live in a city and get to know the area before buying a house.
Unfortunately, I cannot provide 1 on 1 instruction for everyone who reads this blog. I try to answer general questions and questions that I feel many people would benefit from.
Shaun,
Thank you so much for you suggestions. I am looking for an apartment right now. It seems like some of the Phoenix area is relatively unsafe. People complain that their cars got broken into. Is Scottdale better? I started to read your blog a couple days ago. Thank you for providing such detailed and organized work. I printed out your step-by-step note on how to invest under $400 to my friend. We are definitly going to set a goal and try to work on it. One more question. Is it reasonable to try to find a foreclosure for the first time buyer? Thank you so much for your time and help.
Good Work.
Paul
Like any major metropolitan area, Phoenix has parts that are not safe. Nowhere near as bad as Los Angeles though. Scottsdale is good, but pricey. Try Tempe, Chandler, Glendale, or Mesa.
For a first time buyer, getting a foreclosure could work or not work. It depends on the education level of the buyer. Houses that have been to the foreclosure auctions are generally beat up and require serious work. If you like to do that, no problem. Buying a foreclosure at auction requires you do your title work, pay full price in cash within 24 hours of the auctions, and other things. Definitely not for the beginner. You would probably be better off buying from someone who buys foreclosures and fixes them up. Or try getting a preforeclosure. Ask your agent to look for "preforeclosures" in the MLS. If you go this route though, you need to close quickly, so if you are using a traditional mortgage to buy, get pre-approved first (not just pre-qualified).
Shaun,
Thank you for your advise.
Paul
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