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My Kid Bought A Place!


ChrisL

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Well the seller accepted their offer at least...

Townhouse similar lay out as mine about 1/2 mile away.  It’s actually in the same development My SIL family lives across the street from where my mom lived & where I grew up.  Yeah she’s a homer like me...

3 bedroom, 2.5 bath 1,500 Sq Ft for $570K.  Actually about $50K under comps but they know the owner so he gave them a friends & family discount.  They were also fine with a 90 day escrow as they need to get the renters out where as the last 2 offers fell through for that reason.

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7 minutes ago, 12string said:

Wow!  That buys a lot more around here.  Real Estate prices are sometimes baffling

Coastal SoCal...  You gotta pay for having the Pacific a few miles away, ocean breezes & year round mild temps.

Fortunately both make good money...

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5 minutes ago, ChrisL said:

Coastal SoCal...  You gotta pay for having the Pacific a few miles away, ocean breezes & year round mild temps.

Fortunately both make good money...

So actually cheap.  Insane what my kids were paying in Menlo Park.  Now they think Boston is cheap!

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2 hours ago, Razors Edge said:

What the excuse in my neck of the woods? It ain't proximity to the ocean :(

Yeah the DC suburbs are pretty steep too.  Close to the swamp I suppose...

My MIL is trying to find a place to rent under a grand a month.  She’s so out of touch with reality it’s sad. She thinks it’s 1986, the last time she’s had to pay rent....

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45 minutes ago, shootingstar said:

So this means you and wifey, if you downsize, you'll stay somewhere in same town.  

Man who knows... If they start spitting out kids probably.  I’m perfectly fine where we are, my wife would rather live anywhere but where we are...

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3 hours ago, Parr8hed said:

570 K around here will net you about 20 acres with a really nice 4 bedroom house, pool, and pole barn. 

Good luck to them!

When I travel to new cities I like to ask the locals about home prices. It’s amazing what you can get in certain areas.

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  • 3 weeks later...

So an update...  During the inspection mold was found so a mold guy was sent out and there was extensive mold in the kitchen which would require a complete kitchen blow out and redo to fix. Apparently a planter box was built against the outside wall under the kitchen window and water seeped into the walls causing a lot of mold.

My daughter & SIL we’re ready to walk away but the seller agreed to remediate the mold to the extent specified in the report so the deal is back on. Estimating a Nov move in now.  

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1 minute ago, ChrisL said:

So an update...  During the inspection mold was found so a mold guy was sent out and there was extensive mold in the kitchen which would require a complete kitchen blow out and redo to fix. Apparently a planter box was built against the outside wall under the kitchen window and water seeped into the walls causing a lot of mold.

My daughter & SIL we’re ready to walk away but the seller agreed to remediate the mold to the extent specified in the report so the deal is back on. Estimating a Nov move in now.  

Amazing how little it can take to cause a mold problem. So they are not redoing he entire kitchen, are they?

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5 minutes ago, RalphWaldoMooseworth said:

Amazing how little it can take to cause a mold problem. So they are not redoing he entire kitchen, are they?

Yes.  They were told the kitchen has to be taken down to the studs to address the mold.  They then have to rebuild the kitchen to the original state.  It was estimated as a $30K repair which is why they were going to walk.

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