Today is the Day

Today we are taking the BIG chance, the GIANT leap of faith -- we're closing on house #2 while we still own house #1. Why are we doing this? Are we crazy?


Here's the weird thing ... the hubbie and I were online about 3 months ago checking out the local listings on Realtor.com. As soon as we put in our price range, we both stopped and stared in disbelief at the list price and the associated property photo. The listing was of a home model that we had almost purchased 2 1/2 years earlier. It was an extended model from what we were going to buy previously (about 800 sf more), it was on a better lot (lakefront) and it was listed at about 35% less than the smaller home we almost bought in 2006.


We were shocked. We were mesmerized. We were convinced that it must be too good to be true.


So, we took a look at the property, fell in love with it (again) and decided to take the plunge. We spent about 2 weeks negotiating with the seller (a bank -- it is a foreclosure), $2K in inspections, and 30+ days accommodating the unrealistic, and at times bizarre requests, and gyrations of the lender. Seriously, we were shocked by the volume and variety of information that the lender required.
Finally, after surviving the marathon of paperwork and drama, we are ready to close on the house today. How crazy is it that we have fought so long and hard to become so deeply in debt. We're a bit apprehensive (we will have 2 mortgages after all), but believe that this is a smart move for our family in the long term. We really believe that we are fortunate to be able to leverage the incredible opportunity of today's real estate market -- very low prices and very low interest rates.


I'm sure that our current house will sell (eventually) and we've determined that we can float both mortgages for a while (not fun, but we can do it). Until then, I'm sure that we'll be filled with a mix of emotions -- excitement about our new adventure and concern regarding the significant constriction of our finances. But, we have faith in our decision, faith in our ability, faith in our family, and faith that God is holding us in the palm of His hand.



Wish us luck!!