Some More Woes of the Foreclosure Market

The reason I have not been posting many blog updates is that we are in the process of closing on our new home and moving. However, it has been a very long and drawn out affair since we are buying a foreclosed home. This puts us at the mercy of the selling bank, who, in this case, has dragged their feet and done many things that have caused great delays. We are down to the final details of closing, but with a title company/escrow company in another state!! This makes it all the more complicated and time-consuming.

I know it says in the Bible that God will not give us more than we are able to handle, so I trust Him to be in control of all of this, but my patience is stretched thin and my frustration level is so high I have had a dull headache for three days now. This coming weekend was our last weekend to move before running into an issue with our landlords. Now we are not going to be able to move until next week, and we have to face this issue and pray for an amicable resolve with them, since we are not going to be out until probably the 4th of April.

My husband is trying to see if he can get switch his off days at work to Wednesday/Thursday and/or Friday, but that is a very difficult thing to work out for him. So we will see!

If you are in the market for a house, please be aware that the process is completely at the mercy of the selling bank if you buy a foreclosed home. This can be a good thing in that you will probably get a great price for your house, but a bad thing if they drag their feet and cause delays like we have been experiencing. They can even choose a title company/escrow company in another state to complicate the matters even further!

We are very anxious to be in our new home and trying our best to survive these last few weeks/days/hours until we can make that a reality. God IS faithful and we trust in Him for His timing and to work it all out.

I will be back to posting more regularly in April, after the move and we get settled. Sorry for not being able to help with posting the grocery deals, but that is just more than I can handle right now. Looking forward to getting back to regular posting again soon!

Patience is a Virtue....

I keep telling myself to be patient. Every day. Several times each day. But the waiting is getting ridiculous! We have been waiting for almost 2 weeks now to hear back from the selling bank about our house. The appraisal came in $10,000 under our offer, so we have sent an addendum to the sales contract requesting they reduce the sales price to match the appraisal. I am told this normally is a no brainer - that they are stuck with that appraisal for 6 months, so if they want to sell the house, they will accept. But due to them having a lousy real estate agent representing them and them being slow in responding, we have been waiting and waiting....

And so we proceed to pack and organize for the move, but still don't know when it will be. Such are the joys of buying a house in this crazy market....

Buying a House

Well, we finally had our offer accepted on a house that we really wanted!! We are very excited, yet also overwhelmed with all the packing and moving that is coming very soon. And all the paperwork that we will have to do, too.

We finally found a house that we are very happy with, very little needs to be done to it and it has plenty of space for us. We are looking forward to being able to have lots of parties and gatherings at our house!! There is a huge family room with a very large entertainment center where all the kids can hang out and have a blast. We are hoping to buy a large sectional, game table and chairs, and maybe a foosball table for it there. There is also a living room with a fire place for the adults to hang out, as well as a large outdoor living space complete with fireplace, lanterns, and more.

It is going to be so much fun making this house ours! I have begun thinking about what I want to do for our master bedroom decor - it is time to change it out completely. I am thinking cool island retreat:-) And the kids have plans for their rooms, too.

I will keep you updated as this process moves along. We are hoping to be moving in around the middle of March. I will post pics when I get some good ones.

House Hunting in a Crazy Market!!

For months now we have been looking to buy a house. I can't even tell you how many houses we have looked at, but we have an awesome realtor who knows the distressed housing market and is doing everything he can to help us find and buy a house. The really good deals on nice houses are sold in 5 days or less!! Then there are the ones that need ALOT of work. Some of them are still asking too much for us to be able to afford the 203k rehab loan on top of the FHA mortgage. As soon as a house comes on the market, you have to go see it IMMEDIATELY and then make a decision on making an offer within hours in order to even get in the running. And then you may be one of up to 14 or 15 offers!!! It is crazy!!

We have made offers on at least 5 houses now, and are submitting another offer tonight. We know it is all in God's hands - He will have to make a miracle happen for us to get a house! So when we find one that we like, we make the best offer we feel we can afford, and then just rest in Him. God has a plan and He will reveal and make a way where there seems to be no way in His time and for the perfect house He has for us!!

Anyone else going through this, too? Just interested in hearing what kinds of things you are encountering in other areas.