Boom
Saturday, February 9th, 2008My wife ordered me out of my Papasan a couple hours ago to get out in the bright sunshine. The season is turning from Winter to something warmer. We’ve applied for a home loan and she wanted me to look at houses. What I found while we looked astounded me, here’s why:
We looked at a total of 5 homes: all labeled on the front window as “BANK OWNED.” It was a staunch reminder that the high desert boom is definitely over.
In 2002, you could get a home up here for 80k. In the time since then we have seen the same home prices vacillate and peak out at 4-500: astounding. We’ve laid low and rented since 2002 because I’ve been getting established in my teaching career. Plus, we weren’t looking to buy because my income as a teacher could never get financing for such high prices. That is why I am literally in awe of what opportunity lay before us now.
Each 4 bedroom home that we looked at today was well below 200k. This is right in the price range we can afford. Tuesday we find out the details of our loan acceptance, according to our officer: how much and whether it will be immediate or 3 months of cleaning up our credit. I feel very confident we will be accepted but I guess ya never know ’til ya know. Of course I will be recording it all here. As you know, that’s what I do ;)
Wanna move up here and buy a house?
Check out the Victor Valley Multiple Listing Service
Your jaw will drop.
