Monday, May 14, 2007

Real Estate Matters

After several months of trying to find retail space for my wine bar, I decided to hire a realtor to help me find a thrashed piece of property to rehab. I figured that if I worked full time at that, I could make enough per month to off set the fact that I wasn't working at all. Well, that didn't pan out either. We have, as of today written our fourth offer. Two had construction defect lawsuits and they didn't have room on the price. Then there's the guy in Lafayetteville or something like that. This clown bought the house in 1962 for $13,100. He held the house up until 2007. It's on almost 1/4 acre, but it still has the original windows and it is a 3/1. Not particularly desirable. So it was on MLS for $500,000. We came in at $480,000. Now if someone has owned a house for 40 years, he has to be at least, at the very least, 58 years old. More likely than not, he's way into his sixties, possibly even his seventies. This old fool told his agent that he would move back into the house before he took a dime under $500k for it. File that under dumb bastard. Maybe he's spending too much time listening to the coyotes out in Lafayetteville, or six foot rabbits.

Now yesterday we found a property that I have to be careful about. I could fall in love and that would be wrong. It's over 1/4 acre, it's got a 3/2 on it and it's got the ugliest lime green carpet you've ever seen. The bath fixtures are pink. This thing is a thing of beauty in my twisted little world. We wrote at $490,000. Wish me luck!

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