MrBean
10-May-2022(#1)I hope none of you are currently in the market. I've been in my house for 13 years and we committed to moving out before our oldest starts Kindergarten - which is this August.
I knew that costs were high, but what the fudge, even the interest rates are bat crap right now. I couldn't believe it when we started playing the numbers game and they're in the mid to high 5's right now. Son of a dog. Had we simply done this last year, we would have been in such a better spot.
This is just fudgeed. I really debate if we shouldn't wait longer, but the reality is ... is this the new norm? Will it come back down? Every time we find something in budget, it's gone the same day. Having a contingent bid, we're always behind the 8 ball as cash is king right now.
This is slightly out of our comfort zone for how much we want to spend, but man ... I love it. The problem is, the upkeep of the yard, jesus christ ... it's a bit much.
https://www.zillow.com/homedetails/665-Medina-Line... Feeb
* 15-Sep-2023(#4)MrBean wrote:> Just looked at, by far, the craziest house ever. I honestly don't hate it. LOTS of
> work/updating, but if we could get it for what the bank paid ($422k) and drop $200k
> into it, it'd be worth it.
>
Nice. That place looks like an escape room setting. I love it.
sa330206
15-Sep-2023(#5)MrBean wrote:> Just looked at, by far, the craziest house ever. I honestly don't hate it. LOTS of
> work/updating, but if we could get it for what the bank paid ($422k) and drop $200k
> into it, it'd be worth it.
>
Wow, that is pretty cool. I feel like you'd have to at least keep the crazy design going up the stairs and on the fireplace, I love that. I'm not sure if 200k would be enough to fix it up or not though. Very unique and cool property, are you guys thinking of throwing in an offer?
shadyfozzie
15-Sep-2023(#6)some rooms just need paint.. it looks like a house you'd see in an 80's comedy movie..
MrBean
* 15-Sep-2023(#7)sa330206 wrote:> MrBean wrote:
>> Just looked at, by far, the craziest house ever. I honestly don't hate it. LOTS
> of
>> work/updating, but if we could get it for what the bank paid ($422k) and drop
> $200k
>> into it, it'd be worth it.
>>
>
> Wow, that is pretty cool. I feel like you'd have to at least keep the crazy design
> going up the stairs and on the fireplace, I love that. I'm not sure if 200k would
> be enough to fix it up or not though. Very unique and cool property, are you guys
> thinking of throwing in an offer?
The stairs are amazingly cool in person. That wall is insane.
The $200k we are thinking would take care of the master bathroom, knock down the wall between kitchen and second living room, revamp the kitchen all together, and hopefully carpet.
There's so much that the pics don't show too. The house is big.
We don't think they'll take $425 but think we may throw it out there. We'll hire someone to come help determine approximate costs for major remodeling efforts to see what we can afford vs do later/on our own.
MrBean
15-Sep-2023(#9)Feeb wrote:> MrBean wrote:
>> Just looked at, by far, the craziest house ever. I honestly don't hate it. LOTS
> of
>> work/updating, but if we could get it for what the bank paid ($422k) and drop
> $200k
>> into it, it'd be worth it.
>>
>
> Nice. That place looks like an escape room setting. I love it.
Haha this made my wife laugh, she's like... He's not wrong.
shadyfozzie
21-Sep-2023(#12)MrBean wrote:> We're on our 4th round of negotiations... I am excited but fearful, we're gonna win
> this crazy house!
That backyard is really nice with the gazebo.. I don't like the tub only bathroom though...
which room is gonna be your murder room?? lol
MrBean
21-Sep-2023(#13)shadyfozzie wrote:> MrBean wrote:
>> We're on our 4th round of negotiations... I am excited but fearful, we're gonna
> win
>> this crazy house!
>
> That backyard is really nice with the gazebo.. I don't like the tub only bathroom
> though...
> which room is gonna be your murder room?? lol
That tub room, is the master bath. We'd be redoing that whole bathroom.
Haha murder room in the basement fersure. Half the basement isn't in the pics. There's a workroom and a massive unfinished area that'll be perfect for a Theatre and pinball.
MrBean
* 22-Sep-2023(#14)Welp, Holy crap... We said yes. Talked bank down to $480k - from $600k (pushed for $450, but bank bought for $422k and paid off over $30k on back taxes). They came back as "best and final" so... We said yes.
We have the inspection as a safety net to bail if needed. We're estimating $150-$200k for the bigger efforts that I'll be paying for. Most of the other projects, I'll do myself and recruit friends.
If we do it right, the house should be worth high 7's, possible 8s. So assuming nothing scary in the inspection, it's a worthwhile investment. Just a LOT of work to do!
This thing is just nuts...
https://apps.realtor.com/mUAZ/hagtri9f ryanflucas
22-Sep-2023(#16)I know the buyer of my old house. He’s been busy redoing the entire place. I’m going to take a tour when he’s done and see how different it looks.
SwiftJAB
23-Sep-2023(#17)Congrats man! Hope it ends up being a decision you look back on with great pride for years to come.
Noid
* 23-Sep-2023(#18)In
SANE house, @MrBean! I know you've been looking and looking for y'all's dream house and this...well, this is a dream come true! The
only nitpick I could find is that it's connected to an HOA and HOA's suck and are of the devil. But, again, that aside, freakin' a•maz•ing. P.S. What the heck do you and the missus do for a living to afford
that much square footage?! Color me impressed!
MrBean
* 23-Sep-2023(#19)@Noid - thanks! The HOA is just a neighborhood (16 homes) block party fund, from what we've learned. Small neighborhood, but really nice. Only downside is they're all (minus one or two) original owners from early 80s, so not many kids (we spotted one). Hoping the old generation moves on as they're probably empty nesters.
Dream house will be next house once the kids move on (only 20ish years to go, haha) as I'd want a beach home! This checks many boxes, but not all (really wanted more land and a pond). Still, there is A lot not pictured, this get us close enough and we have lots of options for future projects. True dream home would cost much much more that we'll never be able to afford unless I get my crap together!
My wife does auditing for a major bank, and I work at Microsoft focused on Customer Success, Project Management and Sales. We both grew up in borderline poverty, crazy low income families/neighborhoods, never thought we'd equate to much.
We've done well for ourselves (I still don't have a degree). Yet we should have been walking into this with more in the bank, but doing well enough that this is very manageable (still sucks to more than double current mortgage). Just hoping the damn mortgage rates come down in the next couple years as I'll refi into a 15.
Still not a done deal though. Need the inspection (possible concern with septic) and my initial quotes to ensure this isn't a money pit (don't think so).
Staraang
23-Sep-2023(#20)@MrBean Congrats! House looks great. I know this has been a long time coming for you so I’m sure you guys are ecstatic. Did you ever figure out your car situation?
MrBean
23-Sep-2023(#21)Staraang wrote:> @MrBean Congrats! House looks great. I know this has been a long time coming for
> you so I’m sure you guys are ecstatic. Did you ever figure out your car situation?
Thanks! It's gonna look vastly different with all new walls, carpets, and multiple renovations we have planned.
Car? Nope. Especially if the house comes through, no way gonna take the negative equity hit for now. So, gonna rock the Wrangler with all 3 kiddos for a bit!
MrBean
* 23-Sep-2023(#23)So, little side story. Met the neighbor, got lots of background on the former owner of this house. Lots to it, but ... later in life, dude got into gambling. Guess he owed a bunch of people money, and he had lots of back taxes on the house. Towards the end, they said he started getting really paranoid about people coming after him and he started to become a recluse.
Anyway, with as crazy as the house is, I am so confident there's hidden treasure somewhere in the house. There's so many hidden compartments, EVERYWHERE. There's legit storage, inside of storage. We haven't even discovered all of it yet. There's so much more crazyness to this house not in the pictures.
Last night, we went back. The display case at the bottom of the basement, legit has a hidden room behind it! If you push in the right side, of the middle cabinet, it swings open. Behind, there's like a 15x15 room back there. I didn't dig in yet, but there's a handful of old/random boxes ... may be something of worth, who knows. I question if when the bank bought it, anyone knew about it as there's literally nothing else in the house.
image ryanflucas
24-Sep-2023(#26)Make sure to drink only from the wooden chalice, not the gold.
langev
* 24-Sep-2023(#27)My question is who (Mr Bean or Mrs Bean) gets to do all the dusting, cleaning etc required for a
4,866 sqft house
? Lots of work for Mom and Dad with several young children.
p.s. Congrats on the house. Please post new pics after all the renovations.
benstylus
24-Sep-2023(#28)langev wrote:> My question is who (Mr Bean or Mrs Bean) gets to do all the dusting, cleaning etc
> required for a 4,866 sqft house
? Lots of work for Mom and Dad with
several> young children.
>
The answer was there in the question all along
MrBean
24-Sep-2023(#29)benstylus wrote:> langev wrote:
>> My question is who (Mr Bean or Mrs Bean) gets to do all the dusting, cleaning
> etc
>> required for a 4,866 sqft house
? Lots of work for Mom and Dad with
several>> young children.
>>
> The answer was there in the question all along
>
>
Haha, this!
MrBean
27-Sep-2023(#31)ha, well, that's interesting ... brother in law found a local news article about the house:
https://www.cleveland19.com/2023/07/01/unicorn-roo...Have also been finding out more about the art in the house. Local guy, supposedly pretty big in the art world. He's 84. Already message his company/family, want to learn more about the history of the relationship with the former owner of this house and the art itself.
Inspection is on Friday, high probability we're moving forward.
Crazy
nonamesleft
* 27-Sep-2023(#32)@MrBean Just looked at the pictures of the house. Beautiful. Seriously really nice. And all that art going on. Very cool. Love it.
In that room that has the unicorn, what is that thing on the floor that looks transparent? A glass bed? The picture was a little blurry so I couldn't tell.
And the front door, is that carved wood?
All that design, so cool. Each room having a different art style.
And you even have an outdoor gazebo.
I hope your family treasures/loves that house. Really looks like one a kind. (I'm actually nodding my head right now impressed)
Datanuke
29-Sep-2023(#35)Sorry to hear it. It's a cool house but I'd run away far and quickly. Water/moisture issues are not only costly but you also have to consider the probability of black mold. If you stick with it, I strongly recommend you have professional air quality testing. Especially considering the young children
Staraang
29-Sep-2023(#36)Sorry to hear that, man. What a bummer.
nonamesleft
29-Sep-2023(#38)Ah, really sorry to hear that. It really is a unique house.
SwiftJAB
29-Sep-2023(#39)Dang. Here's hoping the bank will be reasonable.
sa330206
3-Oct-2023(#41)Any luck negotiating a better price based on the findings or did you have to walk?
MrBean
3-Oct-2023(#42)sa330206 wrote:> Any luck negotiating a better price based on the findings or did you have to walk?
Sadly, they declined and had us sign a mutual release so we got our earnest money back. They relosted back to $600k, which is insane because no one will buy at that price point.
Super bummed.
sa330206
4-Oct-2023(#44)Sorry to hear that. I am glad you were able to get back your earnest money. That sure was a cool house, but with all the damage you described you probably dodged a bullet. I hope you find something else soon!
shadyfozzie
6-Oct-2023(#49)MrBean wrote:> Another pretty Kick-Ass house just not in a city that we're interested in
>
Geez, I'm gonna move to Ohio, these houses are insane for the $$$... I wanna move there...
Love the random xmas tree pic with jesus lol..
langev
6-Oct-2023(#50)MrBean wrote:> Another pretty Kick-Ass house just not in a city that we're interested in
>
Not sure I've ever seen a property with
two HOA fees??
SwiftJAB
6-Oct-2023(#51)Pretty common for newer communities that are part of master plan communities. There will be an HOA for the housing complex and an HOA for the larger community. This is done to ensure the master plan community has funds for things like landscaping in common areas along major rodes and community parks that aren't governed by the city. Then the housing complexes have their fees for maintenence of their smaller neighborhood.
ryanflucas
15-Apr(#56)I can't believe they sold my old house so high. (I sold it to a cash buyer to avoid repairs). I have no regrets, especially since there's things the buyer didn't fix before selling. For example it needed a new roof on the house, garage and shed. Cash buyer did a quick patch job and moved on.
ryanflucas
* 15-Apr(#57)This is the listing.
https://www.zillow.com/homedetails/7820-W-Bradley-...The listing agent had loads of listing errors too. For example, there's no egress window in the basement so technically they weren't supposed to add that square footage in. It would have been 1450sqft otherwise. It's an old house. The basement was tiled and it was asbestos tile. They tiled over it. Some of those mature trees are dying and could fall on the house.