Well I must say life is never boring and this month has been proof of that. We have been renting a place for a year this June and since our lease is up and housing prices are down we thought we would look for a house. Sounds reasonable right, we have a little cash to put down, but not enough in this crazy market. The news says there are a ton of REOs and that sounded good too, since our price range is still much lower than the average cost of living in CA (It's hard to reconcile double the price when it's not better than what we had in FL, with worse schools) but we are trying to adjust.
Due to our financials we are trying to purchase a house under three hundred thousand and with an FHA loan, but in that is another problem. FHA regulations are strict and should be, but many of the houses that have been foreclosed on in our price range are picked clean of "essentials" or "remodeled" without permits. In case you didn't know essentials are things that are necessary to habitat like water heaters, or air handlers, but recessed lighting and sinks come on! The remodeled problem is crazy we had a 911 emergency when my little one was locked into one of these bedroom "remodels". They wham bam thank you Mame turned the living room into two bedrooms smaller than some walk in closets and a wall that went through a window. So now folks are crawling out of the woodwork to offer over asking price for these places, and many are going to be picked up by investors, again, and they will try to hold on to them until the market comes back. And the cycle begins again.
Stay tuned for more as we move at the end of the month to a new apartment,