Falling For a Home

I have major a House Hunt Update:  We submitted an offer on this house today!  …Now we’re just waiting to hear back from the sellers.

The house we fell (hard) for is a 3 bedroom (with an extra potential bedroom that currently has no closet), 2 full bathroom Levitt-style home.

If you’re not familiar, Levitts are homes that were created for veterans coming back from war in the 50’s, built by the Levitt family, which resulted in one of the first major suburbs in the country.  Levitts were the first type of cookie-cutter construction in home building and some of their traditional features are:

A double-sided fireplace in the center of the home.  One side faces the kitchen, while the other faces the living room.

A staircase in the back of the house, leading up to the unfinished “attic,” with slanted ceilings, which most people convert into two bedrooms.

No Basement (!!), which means the washer/dryer and oil burner are on the ground floor (usually in the Kitchen).

In a previous post, I listed a basement as a “must-have,” feature for us.  Over time, we realized it’s actually only a must-have under certain circumstances.

To me, a basement is mostly used as extra living space and/or storage.  I realize these can be very important, especially as a family grows, but this house has a lot of open living space, which makes a basement less important to us.

This Levitt is updated, move-in ready and was really, really nicely maintained.  It’s on a large lot with a beautiful yard, has an open floor plan… it’s just perfect for us.

 

The couple that currently lives there raised their family in that home.  They are retired now and looking to move to North Carolina, so they’re selling.

After looking at comparables with our Realtor, we felt the asking price on the house was fair.  So, if we ultimately had to pay asking price to get the house, we’d be okay with it, but it would also be the top of our budget.  We decided to go in with a strong offer, but not our best and final and hope for the best.  They’re having an Open House tomorrow, which worries me a little bit, but we’re hoping our offer is strong enough to seriously be considered, along with our terms, which say we’re flexible on the move-in date, since they’re seeking a new house out of state for themselves.

Our Buyer’s Agent told us that we’re in some sort of mini-Real Estate bubble at the moment, which has been driving prices up since December.  On all of the “comps” we looked at, they each sold for asking or a bit above.  We opted to offer $9,000 under asking price and see how it goes.  Our Agent submitted the offer to the Listing Agent, who said she couldn’t present the offer to the Sellers tonight, because they were not available.  We figure it’s a stalling tactic to try to get multiple offers out of the Open House tomorrow, but we’ll play it by ear.  We hope to have an answer some time tomorrow after the Open House – and we’ll be sure to update the blog as soon as we get one!

 

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