Mr. Fun Walking the Dogs

(You won't want to read this -- it's really just a report, for family history, for someday in the future if our kids need to know.)

To continue the story from yesterday . . . on this day a year ago, we phoned our real estate agent to ask if we could see the house again, for a second look.

This little house had been “For Sale” since April 2011. I had the paperwork from the “Multiple Listing” that another real estate agent had handed to me 11 months earlier when we just happened to see an “Open House” sign on another house here in town and decided to stop and walk through.

Since this house had not sold, at some point the owner had dropped the price tag $171,000.00, which reveals the sluggishness in real estate during that time and  probably the over-pricing the seller wanted for this place.

After walking through the house that first time, we just felt quite confused and didn’t think we could make an offer on a place that we had only seen one time. So our agent had to finagle with the other real estate agent who had the house listed to find out if the renter/resident could be contacted and if we could walk through again. The renter agreed to a 4:30 afternoon appointment after he could get home from work to tidy-up and then vacate so we and our real estate could again walk-thru and see the place.

Between calling our agent mid-morning and the late afternoon walk-thru we phoned the man who manages our retirement finances. He was an immediate, “You can afford this. DO IT!” We were more than pleased with his response and maybe even a little surprised. Then we phoned our insurance man and he assured us that the house could be insured (because the house was built in 1942, we just wanted to double-check). He was very encouraging. We trust both of these professionals and appreciated their input—we’ve known them both for years.

When 4:30 arrived; we could see that the resident was still inside and our real estate agent was still on her way, so we parked a few houses away and waited. Once inside, I took photos this time . . . of everything . . . inside of cupboards, closets, under sinks.  It was good to see the house in the late afternoon . . . to see the different angle of the sunlight, the ocean breeze, etc. We were no less enthralled with the place. This property had what we needed to be comfortable and certainly the place needed some tender loving care.

We have since learned that the owners had never lived in the house. We think they purchased the place, and the empty lot next door years ago, but we have no confirmation of the year they made the purchase. They must have used it originally as a vacation home, but they had never lived here. Then as far as we know, they began renting the house and we think for years it was just a rental. It looks like a house that needed someone to take "pride in ownership."

After walking through, we thanked our real estate agent and drove away on August 1 a year ago with a lot to contemplate. The next morning we headed north on California’s Hwy #1, through Big Sur and on into Monterey, to spend the night and to try to have something of a vacation and to push the “pause button” on thinking about real estate. That was nearly impossible because the real estate agent had a mortgage broker phoning me to discuss our finances and how to secure a loan and all the possible angles for doing so. She indicated that we’d need our home in southern California appraised. It seemed like we had unleashed a whirlwind. The appraiser phoned and wanted to book an appointment to see our southern California house. Egads!

Fast-forward a few days – we called our real estate agent to place an official offer on the house. On August 16, 2012, the offer was placed for $35,000 less than what the seller was asking, and the owner countered with an offer $15,000 lower than the listed price. We then recountered with another offered just a little lower than that, AND the owner accepted. I had told our agent that we wanted a 90-day escrow (with hindsight that was such a smart thing to do). I felt like every one of my nerve-endings was vibrating – I was panicked and thrilled all at the same time.

The next three months were hair-raising to say the least. Doing a real estate transaction long distance was new to us; every transaction was conducted by phone or Internet. The paperwork I had to pull was overwhelming. Getting the home we live in appraised for top-dollar was nerve-wracking, but the appraisal came in at top dollar. After getting back home from vacation, I made our house spic-n-span and immaculate. Mr. Fun thought I was absolutely crazy, but a couple months later we watched a special on TV about how to get a house appraised at top value and they discussed how important the interior and exterior furnishings could be to an appraisal. I looked at Mr. Fun and said, “See, I told you!” and just laughed.

Once the house appraised, our mortgage broker was confident she could get us a loan. Ha! The mortgage company did not want to accept the appraisal and wanted to order another one. I almost had a melt-down. Then the broker went looking for another lender and found one. We were given a terrific interest rate, and escrow was in full motion. We waited on needles and pins for the 90 days to conclude. Once the loan was funded, several days before the 90 day deadline, we asked if the transactions could be made AND they were completed on November 14--and the property was offi ily ours! On November 15th, after my day of teaching, we made the 4-hour drive north to California’s Central Coast, Cayucos to be exact, to meet our real estate agent at the house and to get the keys and take ownership. We had told NO ONE except our insurance man and financial advisor. Eighteen months previous, when I had mentioned to a friend that we thought we wanted to purchase a place here and eventually retire here, that friend seemed rather negative, so I never mentioned it to her again (and still haven’t).

We arrived just as it was getting dark that November 15th evening. Found our real estate agent inside the house, greeted her, walked through, took the keys, promised to meet her the next day at her office to finish-up all paperwork. She left. We were on our own in an empty house. We didn’t know whether we should dance, scream with joy, or faint! The waiting was over. The deal was done!

The weather was rainy and chilly. The only heat in this old house is the fireplace. We slept that first night on an air-mattress in our double sleeping bag and put the three pups in their crates. Only half the lights in the house worked – ugh! We learned the next day when the sun was shining that a circuit-breaker had been tripped, and that was an easy fix  – relief!

When we woke that first morning we could hardly get up off the air-mattress on the floor and knew that we needed to figure-out something different. Our real estate agent had encouraged us to shop in the “thrift stores” and there are lots of them in the community of Morro Bay just 4 miles south of here. So we found a wonderful round table and 5 sturdy, nicely cushioned dining room chairs. The owner of the thrift store said that she normally doesn’t deliver furniture, but she could do so the next day because she was coming our way to get some of the items at an estate sale. That news was fabulous because we did not have a truck nor a car that could contain a round table, not to mention chairs. So in the rain the next morning our dining room table and 5 chairs arrived.

Next we went to the Morro Bay Furniture Store to look for a sofa that made into a bed. We found a futon that was perfect. It could be a sofa during the day and a bed at night. I was not ready to start furnishing the house. If I had my way (and I have not) we were going to get the place painted and the carpet replaced. We’ve had the carpet cleaned (and it is still yucky with stains). "It's a beach house!" is Mr. Fun's response.

We spent nine November days and nights, which included my birthday and the Thanksgiving holiday, in our "new" to us “old little beach house.”

The first time I posted a blip of the inside of the house was November 19th, 2012. Even then I did not explain that it was ours. I think I was embarrassed that we had made a purchase; in all of my life, I never thought this could be possible. I come from a family with a very meager background. My wonderful stepdad taught me to “save” and to “budget” my money. He taught me well. Thankfully Mr. Fun has always let me manage our finances and I think that is why we were financially sound enough to do this. So anyway, back in November, I did not reveal “ALL” in my blip posts. I just went subtle. I am revealing much now (obviously).

We still have not painted inside or out. BUT we did eventually purchase a real mattress and box springs (I think in January) and our little bedroom is cozy, and when we get ready to have it painted, we’ll move the furniture out to do so.

We did spend a sizable chunk of change to purchase new windows for every room in this house and then another sizable chunk for window coverings (and I love them). The house is now warmer when it is cold outside and cooler when the afternoon summer sun is blazing in the windows. We also had a green-coated chain-link fence installed in a small portion of the backyard so the pups don’t have to be on their leashes when they go out to do their business.

This little house – which we now refer to as an “ugly duckling,” has lots of potential. (A blipper commented recently that it is a “diamond in the rough.”) It needs the time of a skilled worker.  The finances to do the repairs and upgrades are also needed, and those will come with time. There are two little rooms downstairs on either side of the garage that need to be restored and converted into bedrooms—technically the real estate world says they cannot be called “bedrooms” because they do not have closets (we really don’t care). They both are an easy walk to the bathroom in our service porch. Both bathroom showers need to be tiled.

The kitchen needs serious upgrading—someday. Right now we are just enjoying this place too much to bother.

Several months back, we stopped at the local art museum located near the pier. When we told a gal there that we had purchased a place here, she asked what street and when we told her she got all excited and said, “that’s Hank’s place!” We’ve done a little research, and think we have discovered that a man named Hank and his wife lived (rented) here for possibly 20 years. We have not yet confirmed that. We have, though, taken to calling this place “Hank’s House.” AND we still have told almost NO ONE about this place – but we have told our son-in-law and daughter; we have NOT told Mr. Fun’s 90-year-old mother about this place for obvious reasons. Our son-in-law has been here to visit and spent a night with us, but no one else has visited yet. Someday when we get over the reality that we really have bought this, then we’ll tell others.

We have “slowed” and “settled” on doing all the upgrades, which is good because as we are getting a feel for this place we’re thinking through what exactly we want to do. Since purchasing this house, we’ve spent days here in December; a lengthy stay in January; again some days during spring break in April; a long weekend in May, and now this July/August stay has been wonderful.

What is amazing to me, though, is that the value has climbed several hundred thousand dollars (yes, that’s right) in value in just the nine months that we’ve owned it. Of course, that is because real estate values are increasing everywhere again. We have no desire, though, to sell it. So I guess it's not an investment if we don’t sell it.  

Well, this is way too long, but I’ve really written it so that someday our kids and their kids will have the story. We still are in utter amazement. We have wanted all of our married lives to live near the ocean. That desire is being fulfilled.

When I was growing-up my Grammie Teele lived at Carlsbad-by-the-Sea. The Pacific Ocean has always been in my blood and sand between my toes is as natural as lint in my belly-button!

Good night from Hank’s House,
Rosie (& Mr. Fun, and Chloe, Mitzi, and Max), aka Carol