Sunday, February 1, 2009

SOLD (almost)

Remember last week, I told you that Hubby and I were driving to Little Rock to look for a place to rent? (Someone offered to pay our Little Rock rent until we found a renter for our AZ house.) While there, got an offer on our AZ house!

This is good news since it's been on the market for almost a year. However, the offer was soooo low I wanted to laugh but I didn't. I've cried.

After much prayer, deliberation, and seeking a lot of godly counsel, we decided to accept the LOW offer instead of trying to keep the place and rent it out. (And wait many years until the market bounced back.)

The housing market tanked and we were in the way. After 9 years of house payments, there's nothing. No equity. It really stinks.

I suppose I should be happy that we didn't have to pay the bank to get out of the loan. Certainly, I don't feel happy right now.

As it stands, the close of escrow is planned for February 26...if nothing crazy happens between now and then. Anyone who's bought/sold real estate knows that crazy things can happen - and did indeed happen to us the last time. We lived in a guest house for 6 weeks (after moving the stuff out of our house) waiting for the buyer's loan to go through. It was a stressful nightmare I hope not to re-live.

It appears like we will rent a 2 bedroom apartment in Little Rock so that we can begin saving towards a down payment. I've been looking for something around $600/month - anyone have ideas or leads?

2 comments:

Stephanie from Texas said...

I follow your blog as often as time will allow with 3 boys! I happened to stop by tonight. I live in Texas but my father is located in Eureka Springs, Arkansas. I am not sure if Little Rock is a must. Eureka springs does have some decent apartments for what i think is in your price range. The other MAJOR bonus is the towm. It is fantastic!! Many great homeschooling opportunities there and a community that is very supportive to that frame of mind. Anyway, just a thought. If you happened to want to ask any questions feel free to email me SPBonin@earthlink.net.
Stephanie from Texas

Mom and Kiddo said...

Sales can be stressful -- good luck. The fact that you can rent a 2 bedroom for $600 makes me totally depressed about NYC housing prices.

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