The Tour

1. View of kitchen from the front door
2. View to left - the dining area
3. View to right - "tea ceremony" area
4. View to the right - main sitting area
5. Additional sitting area
6. The hallway
7. Guest bath (1st door on left in hallway)
8. Master bath with pedestal sink
9. Master bedroom with Indonesia blue ikat bedspread (end of hall on left)
10. Bedroom (end of hall on right)
11. Study/Rowing (first door on right in hallway) (2 photos). This will have a single bed before the end of the month
    

Know the Neighborhood

I read an article, Is this a $6,900 Bargain? (Money, November 2009), about the good buys available for houses in today's market. In Detroit in July, there were 913 home sales, but 802 of those were foreclosures. The median price was only $7,500. That sounds like a deal - even a steal.

The Money article listed the following lessons to learn before buying:

1. Forget about Flipping: This is a Landlord Business - Sales and resales are still difficult, so buying to rent is a better option in this market.
   
2. The Purchase Price is Just the Beginning of our Costs - Renovation work and closing costs can cost more than anticipated. Be sure to get a good contractor to do the renovations. (We can underscore this one!)
   
3. You'd Better Have Cash - Sellers will often accept cash over financing.
4. Know the Town - A house in foreclosure on one street may be a good deal but another a few streets away is not a good deal because of differences in the neighborhoods. Know the town and the neighborhood. (See my comments below!)
   
5. Know the Tenants - If you are going to rent, know who your tenants are and whether they can pay the rent.
6. Investing Brings Responsibility as well as Rewards - Absentee landlords who don't take care of property worsen a situation.
   

Know the Town:
We didn't buy to flip a house or to rent, we it live in it. Still, I found the article interesting, because of the discussion about how important it is to know the neighborhood. I am just beginning to understand how lucky we were to work with Sue Paskert, our real estate agent. Last March, she spent several days driving me around. We, of course, looked at houses, but she spent more time trying to get me acclimated to South Tampa, than she spent trying to sell me a house. I know that the important factor for any real estate purchase is location, location, location, but I would not have understood the neighborhoods or the locations without her help.

I love the neighborhood we ended up in.

• People smile and say "hello" when I'm out gardening. They've even stopped in to offer me plants from their gardens.
  
• Neighbors have said "thank-you" for cleaning up and remodeling this house.
• When I'm walking Max in the morning and evening, many others are out walking their dogs. It is an acceptable thing to do and generally leads to a brief, pleasant exchange.
  
• It is a kid-friendly neighborhood. I often meet young families with children in strollers and dogs on the leash.
• Parents walk children to school or ride bikes with them. Many high school students walk and ride bikes to school. (The house is in an excellent school district for elementary, middle school, and high school.)
• The streets are fairly quiet and mostly shaded with tall old trees.
• We are only a short walk for essentials and it is acceptable to walk or ride a bike.
• One neighbor grew up in the house next door and knows the other 2 people that have owned this house.
• Some of the families nearby have children that attend Christ the King Catholic school where Gerad is the principal, so we receive "hello's" and friendly waves from them.
  

There are several houses in the area for rent, but they are sitting empty. This is a neighborhood where people own with the intent to make it a home. I like that.

Crown Molding

The new crown molding is beautiful. I was unhappy with the finish of the walls where it met the ceiling. Ryan and Chris from Universal Construction decided to add the crown molding as a finishing touch to the rooms. It was a quick and impressive process that was completed in a day.

Kitchen CounterTop

Remodeling is almost finished. The only project left is to replace the kitchen counter top.

A laminate counter top was installed, but it will be replaced by a granite top. An accident during the installation of the laminate counter top, left a round hole in a section near the kitchen sink. Several options for repairing the counter top were discussed. In the end, the decision was to replace it with granite. We will add to the width of the counter top on the island, so there is a better seating area around the edge, and so the support column will look like it fits. (Right now it overhands the counter top on the side of the 90° angle.)

I wanted a light colored granite. I found a piece that I loved in the granite shop, but that was in very open space on a sunny day. I hope it isn't too dark or too busy when it is installed. We'll know next week when it arrives. The photo above shows the hole in the counter top and a sample of the granite that will replace it.)