Vacation Blogging

Two weeks ago, this post originated with a cute title meant to fool you all into thinking I had gotten a job, while the post was actually about the fact that we had our condo under contract. Problem: our condo is not yet under contract, and we’re not sure it ever will be, at least not in the short term.

Turns out the great sale price we put it on the market might still be more than anyone is willing to pay in this blighted housing market. Even though we’d have to take out a loan to pay off the mortgage. Even with a buyer that wants the place so badly she just won’t go away (or agree to an offer). Especially for a lender whose bank appraiser is trying to look out for their client’s collateral.

What’s better, the rental market is evidently HOT around here, and we’ve only been able to find one place that has an available, affordable, but large enough apartment so that we don’t all sleep in the same room together, in time for our never gonna fucking happen theoretical closing date. The rental market is SO good that Hubby and I are now completely prepared to rent out our condo if this deal falls through. We’ve looked into refinancing options to minimize our payment, identified management companies, and deemed the scenario affordable. We just need to see this deal through to some sort of finality, whatever that ends up being.

In the midst of this upheaval, Hubby, Monkey and I are on vacation. I’m currently waiting for Monkey to wake up from his morning nap, after which we’ll go for a hike. We’ve ridden bikes, shopped, taken naps, and eaten great food. Last night after Monkey went to bed, Hubby and I watched the sunset over the mountains we’re surrounded by while sipping on cheap wine.

There should always be cheap wine and mountain sunsets available during life’s little clusterfucks.

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4 thoughts on “Vacation Blogging

  1. From what I’ve heard, renting out your home isn’t such a bad idea. My cousin is doing it right now (he needed to move because of his job and couldn’t get anyone to buy it in time). Will you be able to cover the cost of the mortgage?

  2. I’ve heard stories from every point on the spectrum, and I think a lot of it has to do with good planning and going into it with the right attitude. We can cover our mortgage but not our taxes, HOA dues, and rental management company. If we can refinance we might break even. Bottom line, it’s going to cost us a LOT of money to get out from under it now. It may mean less stress if we end up moving across the country for my job, but renting it may be the financially wiser decision.

  3. I can tell you in our experience the most important thing is good tenant screening! There are a lot of skeevy people out there. Definitely do background checks, including criminal checks– if someone has a record for not paying rent… that’s kind of a red flag. The rental management company is definitely the way to go.

  4. I think the management company handles the background checks, but we’re going to make sure they call ALL references. The people I know who have horror stories to share all tried to handle it on their own, and did NOT have very good business sense. Besides, I can’t imagine being landlords from across the country!

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