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Make an offer

Jun 1, 2019   //   by wvanbusk   //   Redwood Victorian  //  Comments Off on Make an offer

The real estate market seemed to be peaking in our area and we did not want to miss it this time. Last time it was the bubble bursting and our rental went down from the high. The tenants were awful and we wanted the home closer to Portland. By the time the tenants were gone and all the repairs were made, we put it on the market at half the peak and sold it. Now the replacement was up again, not quite where it was, but still good.

We looked at Hawaii while on vacation, and found something there. We sold here, offered there and they countered with “as is”, we responded with a counter counter and they took someone else’s offer. That was a couple of weeks before we closed in Portland. So we were looking again, but now from the mainland, not easy. Stasia likes Eureka, CA a lot, so I looked there and saw this home that was recently reduced a a bit and looked like a cash fixer. We lived nearby back in the 80’s, graduated from Humboldt State, go camp in the Redwoods every summer, and were married in Arcata. Our friends there would like us back.

About Humboldt County : California’s Redwood Coast

Eureka : I have found it

Screenshot at 2019-06-04 16-47-42

More pictures: Old House Dreams

4/30/2019 Price change $395,000 -12.2% $180
1/2/2019 Price change $449,950 -9.1% $205
10/3/2018 Price change $495,000 -5.7% $225
7/19/2018 Price change $525,000 -8.7% $239
5/18/2018 Listed for sale $575,000 $261

Our offer was accepted and we will be closing in mid June. There are tenants over the garage who will stay, and we will have to find tenants for the main house. But first we will need to do some preservation and repairs right away. There are plenty of rules for landlords in California, we we intend to follow them. This would be both a potential investment and a first step in the return to California direction. It is possible that the market will continue up in California, so we will have something already there in that case, otherwise we will continue to have rental income for our retirement security. I don’t like being a remote landlord, so we are starting to think about when to sell our primary home in Oregon.