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the new Casa de Soopawelf?
dave-oh my god!
soopageek
n Monday, welfy and I intended to look at well over a dozen houses, all of which we had already done drive-bys the previous two days. Among them was the river front property I posted about over the weekend. We only saw four houses total then decided to give our realtor the rest of the day off. We had three strong contenders and we already knew that the other houses on our list wouldn't be able to compete with them in terms of price, space, and what we wanted in a house.

We deemed the river-front property to be too impractical. There simply wasn't enough space in the house and we'd be miserable trying to live in it for an unspecified amount of time until we could expand, with no guarantees that we'd be able. You can't predict your financial situation as things change and emergencies occur. There's no shortage of river-front property on the market in Frankfort if/when we do have that financial capacity; there's no sense in trying to do it on a budget.

This left two houses, one downtown on Payne Street with a great view overlooking the city and another in an older neighborhood on Letcher Avenue in Thorn Hill. We didn't originally have Letcher on our list, beacuse we found it quite by accident while driving about. It's only been on the market for four days. After much talking and consideration, we decided the house on Payne Street was charming, but that it ultimately didn't have have what we needed in a home. If a great view/location was all that mattered, we'd be moving down by the river into that little concrete box.

So we went with Letcher Ave and it is a whooooole lotta house for the money, like whoa. Then we hit a snag. Because I'm self-employed, and have been for such a short period of time, they don't have a full tax year with which to determine my income. The best they could do was annualize my 8 months worth of self-employed income from last year, which needless to say... 8 / 12 looks really low. Otherwise my credit is good and I could certainly do this myself next spring after I file my taxes. While things are still a little precarious, it's looking more hopeful now that we've added Welf's income to the process, to make this happen now instead of waiting until next spring. We'll have a slightly higher interest rate, but I can always refinance the mortgage later if it's ridiculously high. We should have more certainty by tomorrow, enough to make an actual offer on the house.

Some of you are going to just die when I tell you this. The house's listing price? $74,900

Let's take a look shall we?

It's a 63 year old, 1 1/2-story home on a full basement with a detached garage. It's been well maintained and has been updated with vinyl siding and lots of fresh paint on the exterior. The lot isn't great and features a nasty old pool that'll have to be disposed of, but with a little work I think, we can make it quite charming.









The interior, though is where the value is. It's only listed as being 1200 square feet, but that's because the basement is unfinished. As you'll see shortly, it won't take much to finish it and easily give this house over 2000 square feet of living space.





The 1/2 story has been finished already, giving two "bonus" rooms that will eventually become a library/studio area for Welf.





The main floor living area has gorgeous hardwood floors, arched doorways, and some great light coming in through the side windows. There's a living room and formal dining room with a kitchen in the back. The color of the walls isn't very appealing but that's a quick and easy fix.







The kitchen is a little on the small-ish size, but I think won't present any real issues. There's lots of great, open counter space. It comes with zero appliances, but at this price who cares? I figure it just gives us an opportunity to furnish it with new appliances in a style and color that's agreeable to us.





On the other side of the house, there's a full bathroom in a small hallway.



It's flanked on either side by the two bedrooms: the master bedroom on the front of the house....



...and the second bedroom in the rear with the stairs leading to the second floor through the doorway in the back.



There's a lot of potential for neat things to do with this house. I'm so excited about it. I love those two porches. Across the street from the house is just a wooded lot and the back yard has huge trees along the back fence. There's a little artifical pond on the front corner of the house that's tiered to create a waterfall. Hopefully this little glitch in the financing won't keep us from getting into this. Our real estate agent told me this afternoon that all offers must come with pre-approval and $1000 good faith cash before a contract will be accepted by the seller. It's going to take the next couple of days to get the financing sorted through and a letter of pre-approval in-hand. I just hope that another offer isn't made by someone else in that time. I think this house would be perfect for Welf and me.
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Wow, that's an incredible house for the money.

Yes. Yes it is. It's a steal.

That looks great! Seems like a wonderful price too!

It does look great and can look a lot greater with some attention to the exterior and some minor attention to the interior.

That is an awesome house. I hope the finances work to your advantage.

Me too. My fear is that we won't be able to the financing issue squared away until the end of the week so that we can make an offer. This is a LOT of house at a great price and it just came on the market. I'm afrid someone else is going to be able to make an offer in the next couple of days and steal it out from under us, so I'm trying NOT to get my hopes up too much.

But wow, what an awesome house.

I don't mean to be positive in your journal or anything, but I'm so pumped that you went with this house. It just has so many little charms, and I think Welf will go crazy making this her home.

This house has a LOT of potential. The charms of which you speak is what draws me to it along with the price and space. I'd much rather have the space to do things with to make it a great place, than a place where you're spending your creativity and money to make the space work for you because there's too little or its challenging.

You could always make the upstairs "the man room" and the second bedroom Welfy's library. And once that basement is finished, it could turn into "the man room," too!

I love this house. Arched doorways? Totally stellar.

No ma'ams land is definitely going in the basement, even before it's finished. Throw a scrap of remnant carpet in the corner, a couch and a desk and I have everything I need.

For the short term, if Welf's brother and fiance move with us rather than seek their own place, they'll likely be living upstairs and Welf's "office" will be the second bedroom. Someday, I envision the upstairs being lined with bookshelves, some tables with lamps, and maybe a chair by the window at the front of the house for reading. But we could do whatever with it. That's the grat thing about having more space than you know what to do with. The possibilities seem endless. :)

So cute!!! I'm thinking about you guys! The house has looks like it has so much potential!

I'd just be sure to get an inspection. Even in Frankfort, that price would worry me, what with that updated kitchen and all. I hope there are not some hidden problems with the property.

Yes, I'd second the need for a good inspection. Big uglies are things such as termites, foundation problems, water damage/rot, extremely old roof or extremely old central air/heating units. When I looked at the MLS listing the other day, I seem to recall it being "as-is."

Very nice house for the price! Best wishes with the financing.

What a lovely house! I really hope you get it because that is a good price.

Now I have an urge to poke through the real estate websites for houses in the area I'm moving too.

Poking through real estate websites, doing drive-bys and dreaming is half the fun... even if you're not quite ready to buy. It never hurts to look. :)

You two keep making me wanna move to KY. I've been looking at houses there for awhile since you two started in your posts. Not really a place for a person who doesn't wanna drive, but it seems so cute. I like tiny houses rather than a big wasted space house.

Frankfort has public transportation, but it's pretty much a joke. Lexington's bus system isn't much better and I really can't speak about Louisville's. Pretty much, Kentucky isn't a place you can live very easily without your own transportation. It's not impossible, but it's not easy. Besides, without a car I couldn't go find abandoned resort hotels and distilleries. :)

I totally love that house. Fingers're crossed.

I totally love it, too. I've got fingers, toes, and eyes crossed... well not eyes, that might make it hard to drive.

It is isn't it? I'm just so afraid we're going to miss out on this one.


hopehopehopehopehopehope

Wow! Looks amazing, great price!

The great price just makes it look even more amazing to me. God I'm such a spendthrift.

Love the house. The old trim work and wood floors to die for. Doesn't look like cracks in the foundation and the ducts in the basement look fairly new.

For that cost, you can buy a shed in Muskoka.
I think i'm going to move there.

I'm fortunate to live in an area where real estate is reasonably priced. I hear/see what people are paying for condos/houses in other places and it's outrageous.

Nifty! It's a LOT like our house, only we don't have a porch. Otherwise they're like almost exactly the same house. Only we're just renting our house because if it were for sale it would be listed for well over double what that one is listed... on account of it's in close proximity to downtown RO (a happening place in MI), an elementary school and a park.

This is definitely a bargain in terms of house vs. price. My jaw dropped when I heard how cheap it was. And then when I actually saw the inside, I was like OHEMGEE!!!

Holy catz.....that is not only an adorable house, but....where I live (in the PNW) you can't hardly get a lot to put a house ON for that kind of money.

BEST GOOD PRAYERS coming your way!

My Love,

Cheri

Thanks so much. I haven't been feeling very confident that things will work out with this, so right now I'll take all the prayers, wishes, and hope I can get.

The west coast in general is ridiculous when it comes to property value.

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