Tuesday, June 24, 2008

New House News

Jamie & I went over to our new subdivision yesterday for our "pre-drywall meeting". What this means, basically, is that we look at all the internal wiring and piping and such to ensure that everything is where we intended it to be, and any extra wiring we negotiated is in place before they actually put in insulation and slap sheetrock on the walls of the new house. It was nice to find out about what switch is where for what, etc.

What is of concern is that recently, when talking to a mortgage loan counselor, I learned that banks will assess the value of a new house based in great part on the value of homes recently sold in that subdivision. Knowing this, I had a real estate agent pull up a report of homes sold in our new subdivision this year, and discovered that homes were selling substantially lower than what our negotiated price was...as in $30k substantially.

I put together a polite but firm e-mail to our salesman, letting the builder know of our concerns over the price on Friday. The response I got (so far) was "I will look into this and see if we can reasonably make any adjustment." Last I heard since then, we should be expecting an answer on Thursday.

Continuing in the vein of belief that God will open the doors he wants us to go through, and close those he doesn't, a lot is riding on their response. Jamie & I really love the new house, but if this doesn't go favorably for us, it may be difficult (if not impossible) to get the payments to a place where we can afford it, or possibly to even get a loan at all (if the purchase price ends up being higher than the value the lender's estimator assigns to the house).

For the few that may read this, your continued prayers on this matter are greatly desired and welcomed. Stay tuned...you'll find out when we do.

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