Postcards from the Funny Farm

Along the rows of Adelanto where I teach, there are rows and rows of foreclosed homes. The damage in the varies from the windows being busted out to the trashcans laying askew on the driveway week after week. My overly creative mind, sometimes to its own detriment, can’t help but imagine the stories:

This is where she dreamt of more for her life …

This is where he first held her hand …

This is where grandma passed away.

You can imagine a lot more if you try.  I watched mt oldest daughter Isabella take her first steps at our last house we used to rent.  While I wouldn’t have liked to stay there, it would be great to age and grow old in the same house where all your wonderful memories happened.  Imagine if my daughter could hang her tire chains on the place I put mine.

So how much heartache is going on out there with millions losing their mortgages?  I’ll bet it isn’t the signing over of the place that gets them the most.  More than that, it’s got to be the memories they are being crow-barred away from.  I am so thankful I have a good job and I can pay my mortgage.  But, in an economy like this, is it wise to hand on to object memories like houses?  Maybe it’s wiser to see it more as large brick of wood once on a truck and now in another shape.  Not much more, and not much less.

Aside: Everyone has told me all my life that California has the highest home values in the country. My wife and I have been checking out homes for the past several months and we’ve found that for our income and credit, we barely qualify. Actually, to be honest, we still haven’t qualified for a reasonable amount but we are told we may. It has got me to wondering what the houses go for in other states. I’ve heard of the amazing properties in Colorado’s Winter Park real estate and I’ve looked into Arizona and a few other so called “cheap states.” The results are mixed. Yes there are some significantly cheaper homes but the teacher pay is also significantly lower. It looks like we are destined to stay in California for now. This is kind of a personal post, or what I call an “aside.” Keep my wife and in your thoughts as we continue to apply and fax and refax and mail etc. in our quest for home ownership. I will be updating our progress here as it unfolds. Currently we are waiting on an FHA loan for 180-200K. There have been a lot of letdowns so far, so we’ll see. We aren’t losing hope.

My 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.