It has been a whirlwind of activity around here lately!

So much so that I haven't even had time to blog about it.

We have been looking since March for house #4. It's a good time to buy: inventory is sitting on the market, sellers are a bit panicky, and prices are soft-ish.

However, in the investment market, at least in OUR target area, NOBODY is selling! The only stuff I'm seeing are properties that have to be sold: foreclosures, deferred maintenance, and poorly managed properties (sometimes all in one). When we looked for Lottridge & Sanford, we quickly saw the available inventory and then were out at new listings two or three times a week. This time we'd be lucky to see one worthwhile listing a week. We were seeing duplexes (not our target) and junkpiles and monster huge things, just to keep looking.

Then finally a breakthrough. Last Monday we got a listing for a little duplex with really nice photos and a super low pricetag. We jumped at seeing it since someone had already been in the first day and said they were considering an offer. It turns out, it's NOT a duplex, but a triplex, and it is immaculate. NOTHING needs to be done. It's vacant, beautiful, and ready to go.

We jumped at it. Made a full-price offer, thinking they were shooting for a bidding war. Besides, at full price, it was still a great deal. Why get greedy? It was accepted the next day! ACK!

Turns out, the selling agent was a bit panicky when he set the price. Everyone keeps talking about the terrible market, and it becomes self-fulfilling. Our offer expired at 11pm, he had 6 more showings that evening he could have squeezed in to see if they'd get a bidding war going (not that we were interested in that). He cancelled them all. When they heard there was a strong offer on the table the other people backed off.

So we bought it, first offer, no write-backs. We've switched mortgage brokers and got our approval for a mortgage the very next day (3.95% people. Fixed. For five effing years. That is truly amazing).

The inspection was today and as expected it went amazingly. The place has been loved. The roof is nearing life span, the furnace was ancient, but the wiring and plumbing are great, the basement is dry, the apartments are spic and span.

Wow. We close May 26. Cross your fingers nothing goes wrong!