Having lost our last five bids on homes for sale, while steadily watching the asking prioces go up, we finally closed escrow today on our newest and last rental home. Out of investment money. Home values are going up steadily and we are priced out of the investment market.
Hopefully in a few years, we will be able to trade these in for our last 'dream house' after Sarah heads off to Yale. I just need to make sure I am still here to participate.
The house is a jewel. It was in the middle of a nice remodel by the former owners when they lost the house back to the bank. It has a lot of custom features, including well-done murals on several walls that were obviously meaningful to the owners. Sad.
New oak cabinets, corian counter tops, tile and laminate wood flooring throughout, custom cabinets in the garage, newer hot tub in the back, etc.
Got the keys at 8pm tonight. Start work on completing the work already started, tomorrow and make-up for the landscape that was last attened to about a year ago. Everything is dead and dry, looking for ressurection. My oldest son will help me with the project. Good bonding time over blisters and backache.
It would be great to get it done and rented by the end of the month. We will see.
rlw
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