We close on our new house on Wednesday, and we are already having an adventure about this place. It turns out that a house like this (super old) is a real challenge to buy. The assessed value has come in from different vendors (Mortgage/insurance) in such a range that Hambone and I just started laughing. One estimate came in 30% higher than what we are paying, and the other came in 3 1/2 TIMES higher than our price.
However, the house nets out as un-mortgageable and uninsurable through traditional venues because nobody can really get a handle on the value of the property. When I broke the news to Hambone, he looked at me like I was a toddler trying to drive a car. "Let me handle it" he says. He thinks it's hilarious when I try to work on a rehab property.
And for all of you who have been jonesing for pics of our new house, here's a bunch of them.
The photo above is of the house when it was new -- 130 years ago. Note the lack of trees!
This photo shows the house with the old carriage cover across the front. We're planning to rebuild that.
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