I'm having a heck of a time getting back in the swing of things. Hence my lack of posts.
I really want to be back in Italy, driving along tiny, twisty roads. Life back in DC has left me dreaming (ALREADY!) of escape.
What is happening, you wonder? First, we had the carpet replaced with hardwoods in the bedrooms of our condo. This was the result of that really fun flood in August. I'll go into more detail in another post. Anyway, it displaced us for three days. Some friends graciously let us stay with them. We're back in our house but there's stuff everywhere. I do not like clutter!
Meanwhile, a few of my deals have issues. This is a common problem in this real estate market but it's driving me batty.
The two deals with the most problems involve the same key player. One of the major banks out there is a TOTAL PAIN whenever they finance a deal. Right now they're fouling up two of my deals. I'm the listing agent on one and the buying agent on another.
On my listing, this bank is insisting a new roof be installed before they'll give the buyers a loan. Really? Before they purchase the house? This is a first for me. What's even more interesting is it's NOT an FHA loan. It's a conventional loan. WHY this is a factor is beyond me. Welcome to lending '09.
On the deal where I'm the buying agent, they're the second trust holder in a short sale. The first trust gave approval on the deal within 4 weeks. That's pretty fast for a short sale. I thought we were going to make our 9/30/09 closing date. Ha. I should have known better. Said bank decided that they were wanted to keep their options open. They worded their approval letter so they could go after the sellers once the short sale was completed. Which is totally scummy. It didn't work (kapow, stupid bank!) so we were back to step 1. After weeks after negotiations, they demanded 10% of the net profits. Most second trusts are really lucky to get 5%. Surprisingly, the first trust gave approval. Now we're waiting AGAIN for the second trust to issue an approval of some sort. Meanwhile, my clients second loan lock expires next week on the 30th.
I'm trying to evoke the calming spirit from my yoga class this morning. It's not working. Instead, I'm back to dreaming about Italy.
As I mentioned on Oct. 1, my husband surprised me with an anniversary trip. We went to Italy (Florence, Greve in Chianti and Torino) for 9 days. It was a wonderful trip with a lot of new experiences.
Besides driving down dirt roads and swilling wine, I took a peek at the local real estate. It's expensive! Studio flat in the center of Greve in Chianti? 300,000E. Villa in the Tuscany countryside? 850,000E. The exchange rate when we were in Italy was 1.47E to $1.00. That means the studio was 441K and the villa was $1.2 million. YOWZA! Who said real estate in Europe was cheaper??
With that thought bouncing around my head, my interest was piqued by an article in the International Tribune. It was titled "Europeans Again Interested in Florida Homes." Apparently, the rock bottom prices of Florida real estate are drawing more and more Europeans into the Florida real estate market. After seeing the prices in Greve in Chianti, I can see why Europeans are cheering the strong Euro and investments in Florida.
I have another new listing hitting the market this weekend. It's a 2 bedroom, 2.5 bath townhouse condo with a private patio, open floor plan, bamboo floors, stainless steel appliances, granite counter tops, a private patio! off the second bedroom and a garage parking spot for 375K. It's minutes to the Takoma Park Metro and downtown Takoma Park. It's an easy commute on the Red line to anywhere in DC. There's an Open House this weekend from 1:30-4pm. Click here to see the virtual tour.
My lovely husband has surprised me with an annivesary trip. I'm off to the wild, blue yonder for the next week. More (maybe!) from the road.
Jen Angotti is the creator of Concrete Jungle DC, a blog about real estate in DC, ideas on how to decorate and design your abode plus a variety of topics she loves: new restaurants and bars, DC happenings, food, and travel. Jen is a licensed realtor in DC and VA.
Rise Bakery, located at 2409 18th St, NW in Adams Morgan, is a gluten-free bakery. This is monumental news in my gluten free world. A couple of months ago, my husband popped by there and grabbed a few things: a bag of bagels, a loaf of bread, a banana nut muffin and a cinnamon roll. They were delicious and I was so exited. Good gluten free bread and pastries are hard to find. I had an appointment today in Adams […]