AC Capehart/Real Estate News

Created Tue, 08 Mar 2005 22:11:23 +0000 Modified Mon, 22 Mar 2021 01:42:32 +0000
661 Words

Well, the “70’s palace” that I talked about here has been sold. And no, not to us. I went for a bike ride yesterday and rode by the house. The for sale signs were gone, and there was a pickup in the drive way and stuff in the garage.

On that same bike ride, however, I went past a house that I’d ridden past in the fall. In the fall, it was a FSBO, that when I finally got around to showing to Carolyn, the for sale sign was already gone. I assumed it had been sold. So, I was quite surprised when I rode past yesterday to see that it was again available, and this time it had an agent’s sign out front.

I called to schedule an appointment. Unlike our previous real estate experiences in Altoona, the agent got right back to me, and was able to set up an appointment for today at 2:00. It was nice. Extensive pictures can be viewed here. We LOVE the approximately 1 acre lot that it sits on. Unfortunately, the only way we could afford it is if we sell the house in Charlottesville AND use the money my mom has offered in exchange for an “in-law” apartment type arrangement. We could probably do that in this house. The basement was spacious and had a bedroom and bath. It wouldn’t take too much to turn the wet bar (noticing a trend?) into enough of a kitchen to satisfy someone who usually lives out of an RV. It has a nice gas fireplace down there. Very nice space. So, maybe we could make it happen. But what a commitment to a place.

Carolyn wants to do some comparison shopping, and I do understand that. And this house is really more than we need. But again, it has some serious entertainment possibilities. The space flows well. The kitchen is large with plenty of countertop space. It’s less than half a mile from PSU Altoona. The more we wait, the more slips through our fingers. Is the perfect house out there? Does it exist in Altoona? I dunno. I’ve liked the houses of some of our friends– Steve, Dinty, Ken, and Victor&Beth all have nice places, but they’re all places with “charm”. Where, by “charm” I mean quirks that would probably bug me, or upkeep that’s necessary or, I dunno.

And I’m still even torn about the process. On the one hand, I have doubts. Is Altoona going to grow, or finally give up the ghost and become a nothing town? Does it make sense to put sooo much money into something that isn’t likely to appreciate much? On the other hand, what an awesome way to fight inflation. At the end of 30 years, I’m still paying the same mortgage payment (at least in terms of principal and interest), but a renter. Can you imagine your rent staying the same for 30 years!? And while the value of the home will certainly fluctuate with the market, a home that’s on the high end of the market now will likely be on the high end of the market when it comes time to sell it.

I vaguely remember being this kind of nervous before I bought my house in Charlottesville. And I was “house poor” for a couple of years until my income improved some. But I am now so very glad I made that purchase.