Last week J and I received pre-approval for a house. A few years ago, the amount we were pre-approved for would have been paltry. We would have been able to afford a nicer house in the ‘burbs. These days, it’s pretty amazing what you can buy with $3-400k!
Our current home is being assessed for value today. There are a few things that need to be done: Attic room (family room, play room or bedroom), side yard and front door. Since our house would be a good buy for a first-time buyer (the $200k range) it should sell quickly, especially with the $8,000 tax credit program. It’s a legal four bedroom house (all rooms are rooms with windows and closets) which is difficult to find, especially in that price range. So, cross your fingers for us that it assesses well and sells quick!
We need to sell our house before we can buy. 1. We need the equity for a down payment (there are very few programs anymore that allow 100% financing) and 2. We really cannot afford to carry two mortgages — we could do it, but it would be tight and stressful to say the least!
We started looking at houses recently to get an idea of what we want and what is available in our price range. We are looking in the Sandy area and in the Oregon City area, which I prefer because I like the area better, I like the easy access to I-205 plus the new MAX line, all the great barns for riding and lessons and a better school district for the girls. My entire family lived in Sandy at one point and I went to school there through elementary. I have a lot of memories! My first job at Paolas Pizza. My first boyfriend. Grandma and Grandpa’s house. But, I don’t love the commute and while the girls go to school there now, the district is lacking in funds so the schools don’t have great programs. I know the girls will thrive at any school because they are bright and responsible, but I’d love for them to have more opportunities and perhaps a better education.
The first house was in Oregon City. The house was 4 bed/2 bath with huge bedrooms and a gigantic family room. The house was really perfect and just needed a few updates and maybe a new roof. There was a barn at the bottom of the slope, but needed a lot of work. The property backed up to BLM land = trails. No garage or shop. It sat on five sloped acres with most of it fenced. There was evidence of major mud. It was up the hill from a big hunter/jumper barn. Sadly, this property was a short-sale and I’m not sure we want to deal with that!
This weekend we looked at houses in the Sandy area. The first house was just about perfect. 3 bed/2 bath with a family room, formal dining area as well as a breakfast nook. Lots of windows, covered porch. Great little house. The barn had a very small indoor (think lunging) and space for 14 stalls. There was a tackroom with lockers (they boarded at some point). The other side of the barn could also fit 14 stalls, but it was open and used for hay storage and a shop area. The barn needed work on the inside, but it was structurally sound. Pastures totaled nearly 8 acres. But, there were transmission lines on the property and they were loud! Plus they decreased the value of the land which is worrisome. All this for $320k! If you can stand the power lines, it would be a great buy. It was a foreclosure that has been on the market since at least October ‘08.
Second house was up the mountain more than I want to be and the house was too small. Super cute house though with a lot of updates while remaining quite cozy. Big pond, pasture, barn, shop, sheds, woods, beautifully landscaped. If it were just J and I with maybe one kid, I’d take it!
Third house was even farther up the mountain! The size of the house would have been perfect for us! It was a split level and the downstairs was a family room, bathroom and three bedrooms. Perfect! The house needed some updates in the way of carpet and paint, otherwise it was in good shape. The land was undeveloped with lots of invasive bushes. But, for 19 acres it was a steal. Stupid transmission lines here, too and they were super loud.
Fourth house was on the mountain and what a pleasant surprise! A gravel road lead to an unimpressive green split leve house. The inside was amazing! Brand new carpet and slate, new paint, lots of windows and light. Formal dining area with a fireplace and room to spare. Large living area. Tons of closets! Master bedroom was gigantic on on the main level with a sitting area. Walk-in closet located in the huge bathroom. There was a guest room upstairs, as well as a laundry room. Downstairs was three bedrooms, family room, bathroom, storage room and another laundry room. But, the land was heavily wooded and awkward, so no horses here. Another foreclosure.
The last house was located in Eagle Creek. I loved the property! Five acres, four in beautiful cross-fenced pasture, with the remaining acreage very beautifully landscaped. The barn was amazing! Built in 1906 from the timber cleared from the land. It had a loft to hold 12 tons of hay, concrete floors, stalls, a tackroom, space to spare and a built-in loafing shed with wooden hayracks. It also had a garage and cute toolshed. The deck off the house was amazing and you could see for miles out to the Cascades. But, the house was cramped for us.
We’ll take a rest from looking then in two weeks we’ll head out to Oregon City and see what we can find.
