Skipped a day there.
It seems that me changing my sleep schedule around to deal with what the Analog day when it actually came around.
Sorry about that.
What were her plans, you ask? Let’s see: Go see Pirates of the Caribbean II, then Clerks II, restaurant food only, a little bit of da shopping, etc. Nothing too spectacular.
Until Friday. We went on over to Bremerton/Port Orchard and looked at homes for sale. After selecting two-dozen from the realty MLS we narrowed that list down to ten and I mapped them out and we set off yesterday morning to take the tour.
Out of those ten, only two came even close to satisfying what we wanted. One of them was very promising and unless some nincompoop with more money than brains steps in, may actually still be available this fall when we go in for our loan approval. It is currently is priced too high compared to its neighbors, so I’m waiting for 10% to fall off by The end of next month.
And I just have two things to say about the rest of the places we looked at yesterday:
1. Some people have very disgusting decorating sensibilities (an entire home interior done in shades of fuscia) and/or living standard priorities (hot tubs in the back yard, but no fence for privacy or security)
And
2. Some people will live anywhere (I’d have to suit up to play vigilante and maybe even burn a couple places out before I’d even think of moving into a couple of the neighborhoods we visited)
Don’t want to harsh your mellow, AK, but there are some unexpected dynamics in the mortgage market now that you should know about.
For some strange reason, probably having to do with the greenspan clones NOT raising the rediscount rate at the last opportunity (having raised it 17 straight opportunities before that), mortgage interest rates are falling, and have fallen for 3 consecutive weeks. They are now at April levels.
This will stimulate a surge of home buying again.
What you should do is make a conditioned offer to buy the house on your timeline, at your price. When you get that offer on the table, it will give the current owner something to chew on. They may just accept it. A delayed purchase like that is not unusual. What the offer process does is raise the stakes for anyone else who might be in the mood to buy that house. Sort of scares off the looky-loos. Makes it put up or shut up time.
So you’re gonna become a bridge rat, huh? As for your timing, it might pay you to consider a lock on a mortgage deal in the next 6 weeks. The Fed will meet again on interest rates at the end of September. If they raise rates again, it will probably erase the little fall mortgage rates have made, and it will do it in a matter of a couple of weeks.
The real estate market in the NW is a little soft now, and as a result, mortgage rates are more volatile, as they don’t have the momentum of a strong market to keep them steady.