November 14, 2008

The Gift

my new digs in the Metfield subdivision Bella Vista AR

"When you come to a fork in the road...take it"

Yogi Bera

"Its a very nice house , yes it a bit close to the road and there is some traffic but you are a bit secluded and its been completely redone. It is a few miles from your shop but you will have a nice lender/landlord and that is worth something"

Yes a great landlord is worth something . We have that in the man that manages the property our shop is in...The real estate agent was a great sales lady. A resident of the Village for 30 years she has seen it all. Woody and I walked into her office with our request "do you have properties that are lease to purchase or have owner financing. The answer was a resounding "Yes". she took us to see this charming little house in the Metfield/Witherby subdivision of Bella Vista.

It had been "yes" from a lot of agents. We were amazed at the number of people willing to do an owner finance on properties that they owned because the market is so bad and the stock market crashed leaving many on a fixed income needing a cash stream rather than a lump sum payment that a straight sale would bring.

I looked at big homes and too small homes. Houses in the older areas that were a touch rundown and ones that had been bought to flip and had been totally redone. What has stunned us is that no one wants a credit application or even a drivers licence or SSA number. I could be anyone out to use their property for a drug house or something...

I didn't start this project with the idea that I could buy something outright. I am so over extended on paper right now that a number of my lines of credit that are unused at this time are being closed. My credit score is in decline as a result, and isn't going to get better as I wont use credit just because I want a better score...Usually that doesn't help anyway. I figured that I would rent and maybe I could find something that would be a lease option with part of the payment going towards the down. I had one lined up like this but couldn't get the owner to tell me his terms. I really liked this home too...but it just seemed like pulling teeth to get anything done.

The field kept narrowing. I was able to call the agent on the home owned by our neighbors friend. I loved the this place and it became a spoiler for all that came after it. the man has had it on the market 2 years and owns it outright. Unfortunately for me hes not interested in owner finance,so I gave up on that one. Another agent sent me to see what could have been the house of my dreams...one worth fighting for, but the owner decided he'd take his chances with the market for a straight sale...he'll get his price too on that one...

While these gentlemen werent willing to carry me, a lot of folks are, and one of those is a man who has four properties here that he is selling. He has the deep pockets to finance this himself. He actually lived in this one for a time and has redone it with new carpet and paint inside and out in colors that are good for me. The yard has a few trees and is all gravel no maintenance with a view overlooking a rugged ravine. One neighbor next to me that may be a single man and a dog ( I see a tie out in his grassy yard and we have see him drive up and put his car into a empty 2 car garage...) there is a wooded set of building lots on the other side. The chances of them selling and being built on is highly unlikely for the time being with the economy as it is and the huge inventory of homes in the area for sale cheap.

I also looked at a huge split level town home near the Methodist church I attend. This home was older in a development that is in transition, most of the units are owned by seniors that are selling to move into new situations, like living with children or assisted living. These are big enough to raise kids in so I needed to think about that. I loved the vibe of the place with its view of the tops of the trees and the city... I felt like it was like my apartment in Louisville and was comfortable with the set up.

The deal breaker was the down payment. the Owner would finance but he wanted a large down. and I also figured out that the place was over priced. So I turned it down in favor of the single family house even though it is smaller, and further away to drive to work. The owner of the house, on his own, asked if I would be more comfortable doing a lease purchase that allowed me to move in with no down, just a 500.00 Ernest money check and the first months payment. He would then handle the taxes and insurance and association fees this year while I get my business off the ground...after a night of sleeping on it... not too much sleeping... I signed the contracts the next day. I will get the keys on the 15th...

I am now a home owner in my own right again. This is a gift that I didn't think would come my way so soon and I know that even though this house wasn't my first choice, I should and need to thank God fasting for this incredible deal. It is the right size, with a real garage (not found in most homes here at this price they usually have just a carport, there is even a "black jack" a pop out space for parking a golf cart and your golf gear in the garage that I can use as a exercise area or a workspace ) There are two bedrooms two baths and a bonus room off the living room (commonly known as a Bella Vista room here. Here in Bella Vista due to the poor drainage, the septics cant be big enough for three bedrooms so they build them anyway and don't put a closet in one of them and that room is used as a den or guest room. In the home Woody and I own,we have a "two-bedroom septic" as well. We put a closet into our extra room by placing a door into a walk in closet in the adjacent bedroom so it is now a "jack and jill" closet) this room isn't set up this way. I will likely us that space as a sitting area or TV area. It has a lovely view of the ravine behind the house. Off of this room is a french door to a screened in deck about 15x15. Plenty big for me and I can expand it to have a open deck as there is another 15 feet of wall behind the garage that would support it. I can also enclose it as we have done with our screened room at the old house. I spend most of my time out in this space....in fact I am there now looking out over the forest as I blog.

Annabelle will be happier in her own space. Makoa beat on her last night and while she wasnt hurt something might happen. I need to get out of the warehouse and into a more comfortable space. I have stopped unpacking the louisville cartons and will be taking them over to Metfield...I am going home to the house that God has given me

Labels: Annabelle, Bella Vista, Breaking News, Marriage, Woody