Sold!

How happy am I: simply stellar.

When I watched shows like Flip That House, I always wondered how in the world the people got the money to do these projects. Now the terms "creative financing" and "luck" suddenly take on meaning. Oh, and I need to mention "humungo risk" and "stupidity." That about covers it.

I watched the movie The Kite Runner tonight, and I'm quite certain that once I push the "sold" sticker out of my mind, I'm going to sit down and weep.

nail biting

This morning I got my first offer on the house. With a listing price of $99,900, the buyers offered a price of $95,500 but asked for me to pay up to $3500 in closing costs, making the total net offer $92,000. After a counter, a counter-counter, and a counter-counter, my final price is $98,500 with the closing costs covered, making the total net for me $95,000. I bought the house for $73,500 and paid $1000 of the closing costs. I'm hoping my pre-tax check from the mortgage company will come in at $20,000. That would make me very happy. Right now I have to wait and try to get sleep not knowing whether or not they will accept my final offer. I won't go lower than $95,000 - it'll be too close to breaking even, and I have put WAY too much blood and sweat into this house to break even or (NOOO!) take a loss. The excellent news, though, is that this offer came in this morning, after my house had been on the market for ONE WEEK.

If I get this hypothetical $20,000 check, though... none of it is really mine because I probably owe that much on my credit card between my graduate school tuition, my furniture, re-wiring this house, plus all the other renovation materials and costs - oh, and some new clothes and a plane ticket. My plan is to pay down almost half of the debt and put the rest in my bank account. I'll transfer the rest of my debt to a new card with a year of 0% interest, and hopefully my next renovation will yield enough to pay off all debt and put me on top of where I would have been had I never dabbled in real estate. The goal is to get enough money to pursue some writing and travel. I want to be wreckless in my youth, I also want to be well and independently funded. My grandmother had to loan me money this month in order to keep my head above water. I could have done without it, but it would have cut very close to the danger zone. Neither borrowing nor having $100 dollars to my name feels very good. Come on, accept my counter-counter-counter offer!

I had been planning to go to a teacher workshop tomorrow called "Worksheets Don't Grow Dendrites" which is supposed to be amazing, but sadly I realized that it is 1.5 hours away in a rural elementary school cafeteria. This location for the workshop makes no sense to me, and I decided to bow out. I'll spend the day tidying up my yard in case the offer doesn't go through and more buyers need to come through. Friday's workshop, "Shouting Won't Grow Dendrites" is by the same lady, and is actually being held in a place I know - my own school! I'll go to that one. I need sixty professional development hours per year, and I'm on the cusp of throwing in the towel on finding another job. The towel is pretty much in the hamper. An extra year of teaching will probably be better for me in the long run - but I'm sad to say that I am not looking forward to it. I hate the commute, and as much as I like English literature and most of my students, (I adore quite a few), I hate repeating myself literally six times a day. My goal is to eventually have a job that neither makes my brain numb nor gives me cotton mouth. Again: come on, accept my final price! Patience is overrated.

The big accomplishment for today, though: I got my bike tuned up at Chainwheel and purchased (spending my profit again) a bike rack for my car. The bike is back, and I couldn't be more excited! This evening I went around part of the River Trail - I saw two skunks (a safe distance away) and birds sweeping the sky at sunset. Biking is surely the sport of dreamy nature lovers.

On Edge

Two people(s) have come through my house now, and no word yet as to whether they liked it, hated it, or left completely apathetic. It is nerve wracking to know that people are coming in to your house, judging any work you've done on it, judging your decorating taste, judging your cleaning skills, and judging your personal life based on the few trinkets and photos deemed worthy to remain on display. I've been keeping close tabs on the other houses listed in a similar price range. There are a few I would consider serious competitors in that they are or are close to being up-to-date and have an extra bathroom and/or bedroom. The competition adds to the nerves. I have spent the majority of my time off cleaning and scrubbing my house in order to keep up appearances, (and keep me from getting bored). I'm hoping that waiting for my first home sale is similar to waiting for other monumental firsts such as getting a first kiss, being offered my first real job... they are all bound to happen EVENTUALLY. It is simply the patience that might kill me.

Look out, Boston!

Joanie, Dave, Me, Sarah, Ana, and Josh outside the White House c.2003

I just bought my tickets to go see two of my best friends from my year at George Washington! We're going to meet in Boston, MA and the first thing on the agenda is to go see Julia sing/play in her band The Deckhands. I'm so excited by the combination of seeing Joanie and Julia and going on an actual trip. My poor American Express card is officially maxed out now (thanks Continental); travelling is not a luxury for the masses. Nonetheless, I do have to recommend cheaptickets.com. I spent two hours searching kayak.com, Yahoo Travel, AirTran, Southwest, etc., and this search yielded the best price, (but just barely).

My house is officially on the market as of two days ago. This is the truly nerve wracking part: will anyone actually want to buy what I have worked so hard (and spent so much) on? The MLS is 10198741, and the official asking price is $99,900. I've already got my eye on another project if I actually sell this one. Two days and no visitors, though. I feel a little bit like an artist or musician who has just put a piece out there and is now certain it sucks. How disconcerting.

The process of putting it on the market was easier than I thought. It consisted of signing one piece of paper, and for once I did not have to write a check to anyone. My realtor took the pictures, posted a sign out front and it was done. Now my job is to keep the place clean, (which isn't hard for me - somewhere in between being a messy five year old and now I became a neat freak). I had been very hesitant to put it on the market, thus why I've lived here for a month without doing so. I'd liken the experience to breaking up with someone you've been thinking about leaving for some time. Once it's done you wonder why it ever took you so long.

I also finally listed my wedding dress (never worn - yes, I'm an engagement breaker) as "for sale" on craigslist and the Arkansas Times. I think letting that go is going to be a huge step in my resolve to get out and explore the world in the coming years of my life. Up till now my resolve had been to get married - and according to my friend Stephanie, it had been to have this act done by age 23, although I don't have ANY recollection of the passionate insistance of this that she swore I made. Selective memory.

Tomorrow is my last day as a "substitute summer school teacher." I've been a bad teacher this week - assigning work and sitting at the back of the class rather than doing active teaching. For this one week, I've made up my mind not to care. I'd prefer not to fight with students to see that their work gets done - they are already on chance no. 2, and quite frankly I don't wish to expend the energy. I have other places to channel it - like getting ready to go and have an amazing time in Boston!

Back in Business

Ta-da! The budget-renovated kitchen.


Double ta-da! The living room.

My house is complete! I have now been living in my newly remodelled 1950's bungalow for almost a month. During that time I have taken on the usefulness of a slug - perhaps less. I'll consider the past weeks as a needed recovery from my first real year of teaching. Sadly, in that time I have committed the cardinal sin of home remodelling - I have fallen in love with the house, my incredibly private back yard, and my neighbors - especially the guy across the street who works for Budweiser and gives me free beer. Tough to beat.

While my mortage, at $600, is less than M's one bedroom apartment rent, ($645), I am still struggling to cover all of the bills in conjunction with paying off my renovation debt. This would not be an issue if I would simply sell it. I bought it for $73,500 and my realtor would like to list it for $99,900. My plan is to go ahead with this and see what happens in the next couple of weeks.

Now, after three weeks of sitting around my house and M's apartment pool on summer vacation, (with lots of amazing books), the travel bug has bitten me, and I am eager and anxious to plan a trip somewhere off the contintental US. Facebook is a bad instigator of this, as viewing all the amazing places my friends have gone makes me insanely jealous and antsy - something it would be to my benefit to learn to quell. Unfortunatley, travelling is far out of my means at the moment. If I had to make a conjecture right now, I would say that this is going to be my last year of teaching for several reasons. While I enjoy both my students and literature and make a very decent living, being a teacher feels like trying to zip myself up into a dress that doesn't fit; I can't move around and I can't breath. The summers off would be great if I had the money to go abroad. Perhaps when both of my houses are sold this will be the case. If I do not sell this one, then M is planning to move in on August 5th, so that will ease the monthly payments.

Money troubles aside - I had an amazing 4th of July. For the first time in years I got a front row seat to fireworks on M's parents boat on Lake Ouachita. Incredible. I nursed my sunburn by drinking frozen strawberry margaritas while stretched out on the back of the boat, counting stars. Clearly, I need to start saving up for a boat of my own in the future. I'll add it to the list.



Lake Ouachita and surrounding Ouachita Natinal Forest from Hickory Nut Ridge by day.

Sweating... in mulitple meanings

I just returned from my first (and last?) kickboxing class. This was not the kickboxing class I attended in high school. That one was led by an aerobics instructor, included lots of synchronized movement and was full of women who seemed too skinny to be working out that hard. It was a great work out - don't get me wrong - but I'm not an aerobics kind of girl. This class had about 5 women and the rest were big, burly men who wore real boxing shorts. I have not been this sweaty in a VERY long time. I want to believe I can commit to going at least twice a week, but when I signed up for Sunday yoga classes, I ran out of steam after the third week. I would REALLY like to build up the determination to go regularly, as I've been feeling uncomfortable with my body and dreading wearing a two piece. Perhaps this is bad, but I feel like buying a one piece is admitting defeat - it's saying I'm resolving that working out is no longer part of my life so I'm going to take measures to adapt.

In other sweating news, I'm supposed to close on my house on Thursday. There has been lots of issues with repairs of the foundation and the electrical work, so I simply reduced my offer, and haven't heard back yet. I also discovered, to my extreme chagrin, that my bank only accepts 3% of the closing costs from the seller's party, which is going to put me at least $1000 in the hole right off the top.

In double sweating news - I'm trying to work up the courage to compete in a poetry slam in May. I have no expectations to win, but I'd love to be active in the slam rather than simply an observer/supporter. I've brought two different slam poets into my classroom and my kids have loved them. I keep telling my kids to be courageous in both their writing and their sharing, so perhaps I could try taking my own advice.

Officially in Escrow

This week has been my spring break - which is one of the fabulous aspects of being a teacher. All the same vacations I enjoyed while still a student!

Despite the fact that I did not go anyplace out of city nor did I go shopping for clothes or shoes once this break, (I spent most of my week working on the historic home I'm co-renovating), it has been a very expensive vacation for me. It started when I viewed a two bedroom, one bath home close to the university in town, and decided I needed to buy it. The original list price was 82,000 but had been dropped to 79,9000. After several counter-offers, I secured it for 75,500 with closing costs to be paid by the seller, giving them a net total of 72,000 for the house. The house was built in 1950 and has been well maintained but needs some cosmetic fixes that will have to be low-price in order to not out-do the price range of the neighborhood. Most homes in that location go for $65,000-90,000 so I landed right in the middle with my final offer. I'll take possession of the house at the end of April, assuming nothing disastrous happens.

After this purchase occured, I began planning and mapping out the minor fixes I am going to do to this home. I will fund all of my work on this house using my AmEx card rather than taking out a bank loan, as I have 0% APR/interest until September, plus a nice, hefty credit limit, (potentially dangerous but thus far under used). I'm going to paint the "L" shaped living and dining area a lightlight chocolate brown and cream, and decorate with a chocolate and turquoise design scheme centered around my oatmeal colord couches. Luckily, I have a grandma who can sew curtains and pillows in any color I desire.

The kitchen has white cabinets I would like to reface, and I'd like to re-do the counters and floor with new laminates, as well as paint the walls a gun metal blue. I'd also like to find some used black appliances, and maybe purchase a butcher block island to put in the center, (the previous owners fit a set of table and chairs, so it's quite large).

The bathroom is going to be either cream or light celedon, and I bought a leaf covered shower curtain and candle from Pottery Barn that were both on sale, as well as an antiqued map wooden wall hanging that was 50% off at Hobby Lobby and will match the shower curtain beautifully.

To top off what I bought for the house I don't even technically own yet, I bought a beautiful vanity/mirror/stool set that I found at a high end furniture gallery for about 45% off. I go pick it up tomorrow. It's a bit feminine for staging a home, but it will go nicely with my wrought iron bed that has been sitting sadly in storage all year and the pistachio walls I intend to paint in one of the bedrooms.

The good news is that the backyard is big and fenced so I can have both my black lab and M.'s chow mix come live with me.

The interest rate on the house is good, too, coming in at 5.7%. Now is a good time to buy properties as prices are low due to lots of product on the market, and banks really want to seduce qualified buyers into making home purchases. NPR said that home sales are actually on the up-swing because of this. Hopefully it will last. I would like to put my home back on the market by July/August and seek a $95,000 initial price tag. Or it may be wiser to rent it to university students and just hold on to it for a few years and hope it appreciates.

Who knows. As a last ditch effort, M. can move in with me in August if the property is still unsold/unrented, and we can split the costs.

I hope buying this doesn't shackle me to my job teaching, because I am on the hunt for a new job that doesn't involve a commute or teenage children. If I could be guaranteed I'd make $8,000-$12,000 on this house I wouldn't need to renew my contract, but of course, in life there are no guarantees. But, there's also no reward without risk! And hopefully the house will be cute enough to be reward unto itself.

Sore Like a Day Laborer

I haven't been getting home until 8/8:30 at night since work on the house officially commenced. Each evening I have returned with bits of insulation and ancient, compacted dust in my hair, nostrils, and under my fingernails. My feet and back ache from shovelling, sweeping, and hauling debris. Interestingly, though, I feel amazing and I love having a project to manage and keep in motion. Seeing this house look beautiful again could possibly be one of the most satisfactory things I've ever experienced...if I survive to that point!

So far we have been jerked around by bureaucrats and incompetent service providers (delivering a dumpster to the wrong address, among other things), and found used hypodermic needles in the wreckage that was once the house's blown insulation.

Yes, I own a crack house! I think I need longer work gloves.

It is now 9:35 pm, I am exhausted, and I've got to go back to my day job in the morning! I'm afraid this project may begin to affect my teaching - I'm spending less time planning lessons and have less stamina to stay at the front of the room. (My teaching fatigue set in when the initial planning for this flip began after Christmas break). I can see how flipping can easily be a full time career. If this is a success, I might consider it. As much as I hate to say this out loud or in writing - some of my students are so mean that I dread having to deal with them. We'll see how the end of this year plays out. It may result in my financial ruin - who knows!?

In other better-late-than-never news, Bush is actually doing something to reduce air pollution. Nice move now that he's stepping down and won't be in a position to take bribes from major, polluting corporations!

As I type this, M. is watching King of Kong. Two words: oh, my. They are using The Cure, though, as background music, so rock on.

I'm so tired and scattered I can hardly think. Now the only things I can focus on are trying not have post-consumption remorse of the $5.00 Little Ceaser's pizza I just ate, a shower, and sleep!

Snow & Closings

Today we got our first snow storm of the year. I don't teach in district, so I have a 45 minute commute to get to work - and my district did NOT cancel!! It was the only district in that county that decided to have school. I took a look outside at 7AM, saw the snow blanketing the hill I live on, and called in a sub while feigning illness.

It's amazing how fast a day off goes by. I never did make it on my new Tony Gazelle as I had planned, but I did work on an article I would like to submit to the English Journal concerning my stance on homework. Basic premise: I don't give it because it never gets done when I do. Am I worried about the future of America's work ethic? Yes. You should be too.

I did accomplish something significant, though: the loan has finally been approved for the house I am going to renovate with my new company. Our first bank appraised it way under value, thus ensuring we would NOT have enough money to actually complete the project. And they were such dolls they had the low appraisal done two days before we were supposed to close.

Bad appraisal + immediate closing date = FUCKED and $500 earnest money gone.

Neeless to say, we switched banks. Our loan is now for $200,000, and that includes the purchase price of the house - $70,000, plus the construction money. The new appraisal is $240,000 upon completion, so ideally we will be seeing a nice turn around in six months or so. Our real estate market is semi-sheltered from the disasters going on elsewhere in the country.

Here is our salmon colored historic 1886 beauty:
It is going to be a very busy spring break, summer, weekends...