We're building a house. Can't be that hard, right?

We're embarking on a home building expedition, and here's what we have to say about it!

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Friday, June 11, 2010

An update

Here's an update for you....there's no update. No offer, nothing about it, no reasons for the delay, we don't even know if they are still going to make an offer. Supposedly, they had to go to their bank and get pre-approved before they made the offer. We were told they were already pre-approved, but not for whatever it is they were going to offer, so they had to go back to the bank.

It doesn't take 4 days to go back to the bank and ask if they'll approve you for a little more money. All we can think is that they did it, and the bank said no.

We have heard nothing from them, and Margot the Agent is pretty frustrated, too. She doesn't know what's going on and doesn't know why we are having a hard time. She was sure we'd have an offer by now.

Yuck. This unknown is the worst.

John did some research and found that mortgage applications have dropped significantly in the last month, mostly due to the first time home buyers tax credit the government offered in early 2010. That's over, so there's little incentive to buy now.

He also read that we are set for the second dip of this recession that's eating away at our savings, 401ks and home values. It's like a big 'W' he said. We went WAY down, and then came back up a little. Now, we're going to dip back down a little before the economy really turns around. That's not good, home sales are already low enough, we don't want them to go lower!

We're just going to have to leave the condo on the market, hope for more traffic and continue to save and save and save. And keep the place clean! At least we're teaching Kyle how to put his toys away now!

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