This dating pool is shallow – in fact I think I hit a rock on the bottom of this ocean.  Not rock bottom mind you.  I’ll eventually find something but Saturday’s crash will leave a bit of a mark.  After Thursday’s disappointing match results I had narrowed my selections to just six.  Two that I really thought showed promise, two that I felt I had to visit because the numbers looked good – even if their location (not the safest street in the hood, and not on the prettiest block) don’t have me aflutter at the thought of our first encounter, and two that are on streets that are considered “well-heeled”.  These final two I will visit mostly out of curiosity, and with the knowledge that they are out of my league.  Their prices per square foot are outrageous.  At over $1100. a foot and address aside – a lot of room for improvement, I would be getting myself metaphorically over my head in unchartered waters. I like a challenge but I don’t think even I could find a way to squeeze another $200. a foot out of these bachelors in under a year.

Too Late

Of the two I was scheduled to see yesterday – my two with promise, they looked good on paper, checking a lot of the boxes:  AC, Private outdoor space, in unit washer and dryer, high owner occupancy in the building, one even had a parking spot.  I suspect you are anticipating the let down, as you should astute reader.  When I arrived on time for my date with destiny, I was rudely confronted with a note taped to the door, gently flapping in the breeze, with the harsh pronouncement that MY potential property had decided to go steady with another – before he even met me. Oh the indignity of it all!  Timing is everything or so they say.

A short walk took me to the address of my next potential crush, but it was evident immediately that we were not meant to be.  A garden level unit with limited natural light, and a rather odd smell emanating from its depths had me doing an about-face. I’m a bit like a plant, I thrive in natural light and wilt in the shadows, and that smell hints of something quite unhealthy under the surface.  I don’t mind old but you’ve got to be in good condition.

Blond Ambition

Today I will visit the others, but don’t think I will be rousing Alan from his birthday celebration on the Cape to draft an offer or texting Lissa to produce the necessary, and seemingly fruitless pre-qualification documentation.  The only pre-qualification that seems to turn a head is CASH, it’s Boston’s version of the blond, blue eyed California girl, they can’t seem to see me standing right in front of them with the goods.  One must make an effort none-the-less.  I don’t need dozens of suitors, I only need one to appreciate what I have to offer.  The search continues…..

Unless you are a college student who has come to discover my blog for the first time, Thirsty Thursday is likely a thing of the past.  I welcome you to my Quest and to enjoy the original meaning and intent.

Thirsty Thursday

For everyone else …. you can perhaps imagine my anticipation for the day of the week that promises to alert me, for the very first time, about the properties that are making their debut appearance.  Ah Thursday, never before was it packed with so much promise.  I am trying to remember a time when I had a first date on a Thursday.  While those are mostly and sadly filled with much trepidation now-a-days – for all the stories you will have to consider telling, and those that you will intentionally hold back, dating at my age brings a lot of baggage.  Alas, when I was young it was preceded by the nervous flutter of my stomach – that telltale sign that you could imagine something good was to come, that shiny thing of possibility and optimism which pushes the doubt and blows that dark cloud on down the road, least it rain on your happy date parade.  That’s right – Thursday feels just like that when you are homeless and the prospect of love….I mean a home that I could love, feels once again within my grasp.

Perhaps I AM grasping, but one must do that in these dire circumstances.  Here are a host of idiomatic phrases that don’t bolster my spirits a bit:

• Try to keep a stiff upper lip
• Look on the bright side
• Blessing in disguise
• Every cloud has a silver lining
• Keep your chin up

Here is a poem that I return to again and again because it is such a naked admission…and acceptance of the struggle, it makes me not feel alone in it at all.

THE GUEST HOUSE – Mewlana Jalauddin

A House that has welcomed them all and is the better for it.

This being human is a guest house.

Every morning a new arrival.

A joy, a depression, a meanness,

some momentary awareness comes as an unexpected visitor.

Welcome and entertain them all!

Even if they are a crowd of sorrows,

who violently sweep your house empty of its furniture,

still treat each guest honorably.

He may be cleaning you out for some new delight.

The dark thought, the shame, the malice,

meet them all at the door laughing,

and invite them in.

Be grateful for whoever comes,

because each has been sent as a guide from beyond.

It’s beautiful no?  It lays bare the weakness and gives strength to search another day.  And search I will with an optimism and certainty that defies this impossible cash laden marketplace.

Well didn’t I just open that email this morning and suffer from a Match.com flashback.  Where were all my perfect matches?  One mysteriously was removed from the market like the hot guy they advertise who is either a model or was snagged by a similarly stunning gal six years ago, and only minutes after signing on.  Why then is he still featured you ask?  I think you know the answer.  I don’t need to say it aloud.  Needless to say – the homes they selected as a “match” for my criteria were sorely lacking, and that’s before having met them in person.  I’m beginning to regret my decision to not drop my financing contingency on Waltham #2.  I think we would have been a handsome couple.  If only I had the courage to go through with it.  Now someone else will be calling it their home.  Will they love it like I would or will they take it for granted.  I understand from others that being taken for granted results in a lot of break ups.  Perhaps their terrible neglect of this most deserving property will result in it being right back on the market in not too long a time.  Ah timing – isn’t it a sun of a gun?  If only I’d said the words when I had the chance.  The hell with it:  DROP THE CONTINGENCY – I’m throwing caution to the wind.  I won’t live my life wondering…..

Dear reader – what would you have done?

It matters not that it’s man made – Cape Cod beckons people from near and far with its cool summer breezes, boundless beaches, pristine landscape, shops, restaurants, and promise of memories in the making.

Tile Envy

Once it has captured your heart no amount of traffic will deter.  For a determined flipper like myself it is also, and most significantly, home to some amazing materials resources and enchanting home decor stores.  Oh I know that I haven’t yet found my next place, but you didn’t think that would stop me from designing it did you?  You’ve got to have a plan.  I want to be able to start spending my money immediately upon signing.  No dilly dallying around trying to make decisions.  If anything good can come out of all this waiting it’s a great design plan.  So off I went to my absolutely favorite tile store in all of New England.  The Tilery.  60 Route 6A . Orleans . MA  774.316.4571  http://www.thetileryatp.com  Bert and Naison are terrific.  They aren’t afraid of color, stay up on the trends, and clearly love what they do.  Project after project I return to the Tilery, and they never disappoint.  I don’t know how I will ever narrow down and make a final selection.  From the refined to the edgy – it speaks to me.

It’s Ok to Be Crabby

Bungalow . Chatham . MA

Along the way I was sad to see that one of my new favorite home decor stores had disappeared.  I asked Bert if he knew what happened to Bungalow.  I was so happy to learn that they had outgrown their little cottage on the pond and had moved to Chatham so that avid fans like myself could more fully avail themselves to their wares.  Jackie Zartarian and Amy Benz – both Stagers by Profession have found an outlet for their growing collection.  They share an incredible eye for a find, and know just how to pull it all together.  Their ability to re-imagine the ordinary – a sisal runner as a reception desk covering, a rug into a seat cushion, a sad table given the royal treatment with a noble stone top, and a fresh coat of high gloss paint in a decidedly seaside color breaths new life into their vintage finds.

Re-imagined Reception

Add to that, they thoughtfully place a Jonathan Adler piece or two, a Home Goods lamp, pillow or bookend, and voila – brilliance.

Practically a steal at $35.

For those of you that have trouble putting it all together – fear not.  This is where their staging background takes the limelight.  They know just how to pull the pieces together to create magic for you – and the prices are swoon worthy.  Don’t walk – run.  Bungalow . 1291 Main Street . Chatham  http://www.bungalowconsignments.com

http://www.bungalowconsignments.com

Happy Memorial Day!

Shine a Light

Last week was a particularly disappointing one.  My offer on Waltham Street property #2, the highest of the group of five was not accepted.  My counter offer the highest of the group was not accepted.  Alan says not to take it personally, but of course it is personal to me.  They left, I am guessing roughly $20K on the table, accepting instead a lower cash offer.

Herring River . Harwich . Cape Cod

A cash offer can mean one of two things, the person is liquid to the tune of the asking price or more, or the buyer waives their financing contingency.  If you are not familiar with this term it means you put at risk 5% of the asking price.  A normal Purchase and Sale Agreement favors the buyer, giving them an out if they cannot obtain a mortgage – having gone to a single bank fulfills this obligation.  When you waive the contingency you give the Seller the right to take your money if you are not approved.  Seems straight forward but it isn’t exactly.  Suppose you say to yourself, I have every confidence that I will be approved.  I have excellent credit.  I have 25% down, I have a good job, steady work history, and adequate income.  All good – ca mache, non?  NO.  It’s not all good.  The mortgage lender is only at liberty to lend you the amount at which the property is appraised.  In Boston’s real estate bubble most property are not “worth” the amount for which they are selling.  Suppose you are trying to buy an $800,000. property.  You plan on putting $160,000. down – a fairly standard 20% down payment.  If the property is appraised at $579,000. the lender will approve you for a mortgage of the appraised amount and ask that you put down the difference of $221,000.  In the event you don’t have that money, you would not be approved, you would then be unable to complete the transaction and you would be forced to forfeit $40,000.

Lovely Lilacs

I don’t know about you, but when the Seller’s Broker asked me to waive the financing contingency and the property would be mine – I said no.  I’m not one of those people that doesn’t know how hard it is to make the money.  The sacrifices that I have made, covered in sawdust, dog hair, sweat streaming down my face as I painted closets, hauled bags of dirt over my shoulder up a 126 stairs to the roof deck to plant the garden.  It’s hard, it was worthwhile, and there is no way I would risk letting it go.  I still pick pennies up off the street.

So where does this leave me?  Good question.  I can’t turn myself into a cash buyer.  I have already admonished myself for not working faster, harder to bring myself into that power position, but I am at the stage I am.  So this weekend is all about the re-group.  Enjoying the Cape, the beautiful weather, the smell of lilacs, and salt air, and regaining the certainty that somehow it will all work out, just as its intended.

It’s a beautiful day to buy some real estate here in Boston.  Let’s see if anyone is interested in taking my money.  I have prepared an offer for Waltham Street Property #2, and it will go in later today.  I will see two others today as well.  One on Pembroke Street, listed at $938.20 a foot.  Not having seen the space I am guessing this aggressive price per foot is based on location – Pembroke is premier.  I will also visit a small one bed on Dwight Street.  My old neighborhood is lovely, and at $864. a foot I suspect it is in rough shape.

Bid . Dammit . Bid

The asking price is low, a tactic some brokers use to drive traffic. Once the bids start rolling in they count on the fact that people hate to lose which will tender offers well above asking and beyond reason. Money is falling out of people’s pockets faster than Broker’s and Seller’s can pick it up – or is it?  These are interesting times.  While it seems like it is all in the Sellers favor, that is not necessarily the case.  They have needs and commitments to.  Where will they go next, is this sale holding up the purchase of another, one can’t be too sure.  Whether out of over zealousness or a desire to take advantage, many may be arriving at the inspection phase with a lengthy list of deducts intended to bring the property back into the realm of reason.  While it is certainly the buyers right to say no and start the process over, it’s emotionally exhausting to do that.  The property gets a mark against it, perhaps it isn’t black, just charcoal grey but suspicion is cast on it none the less – must be something wrong….and at the very least time is wasted.  What the value of that time is to the buyer, we cannot know.  It’s a game of cards.  You’ve got to know when to hold ’em and when to fold ’em.  Kenny Rogers knew what he was talking about.  Maybe I could borrow him for this next round of negotiations.  I’ve been told I wear my feelings..not on my sleeve but all over my face.  Good thing I won’t be handing it in in person.

Wish me luck.

Waltham Encore

All I can say is I am a girl and as such, am entitled to change my mind.  I withdrew my offer on Property #2 as word of the feeding frenzy came across the wire to me.  More bids than I can now remember, offers that make its original asking price laughable, flowed in.  I simply couldn’t imagine bidding more than $150K over asking for a garden level unit that was a bit musty, needed new doors and hardware, and both bathrooms needed to be gutted. They should call it what it is – an auction, opening offers begin at…. Someone felt differently though.   I hope now that they have “won” it they are not having buyers remorse. I am reminded of how many times I convinced myself that I couldn’t leave without that $1500. pair of shoes.  You know the ones, they make you taller, thinner, more beautiful and confident.  Life changing.  Alas, they DO change your life – but not for the better.  An expensive mistake to make, but it pales in comparison to spending too much on a house.

Resolute in my decision to abandon #2 I turned my attention back to Waltham.  I tried to close my heart to it, ignore the fact that I breathed easier in the space, that it made me feel happy.  I tried, but not that hard.  I put in an offer – again, not a crazy one, and learned that four others had done the same.  Sadly this quest ended with a phone call at 8pm on Monday night saying….thanks for shopping at our open house, better luck next time.

2nd Times a Charm?

It’s really too early in the process to start using cliques about what’s meant to be will be, but….I’m feeling like a platitude here or there might be in order.  I visited three properties so far this weekend, with another three on deck for tomorrow.  It’s funny that I seem to be revisiting the same streets Concord Square, Waltham and a third on Harrison Avenue.  I am preparing an offer for Waltham Street that by all rights is outrageous.   Don’t try and talk me out of it.  I am absolutely going to do it.  Come Monday there may be tears, a temper tantrum or both but lucky for you I will have recovered my composure by the time I sit down to write next weeks posts.

For all you Catholics out there, you know the power of St. Anthony.  I have lost my home and need his help in finding a new one.  Renew my hope in this marketplace, and if a home cannot be mine this weekend provide me the strength and peace of mind to make it to the next.  I accept any and all prayers from you for the same.

We’re only a week in and the process has already been hard.  My offer on Property #2 is not strong against their other current offers (yesterday afternoon there were three in addition to my own) and won’t hold.  Today the open house will certainly bring more, and I’m not taking it that well.  Mind you I don’t love this property.  In similar fashion to my Milford Street Condo, it’s not what I lie awake at night dreaming about.  This reality can sometimes be hard for people to appreciate.  Many cannot conceive of a reason I would buy a property I don’t even like.  They know of the Quest, and yet it still seems foreign to them, and some even become angry about it.  As my dear friend Stephanie says – “it’s not my forever place, but it will do for now”.

Waltham Living Room

So why this property when my heart longs for another I saw on Waltham Street yesterday?  Well it’s simple….Property #2 is the safe bet with it’s square foot price and certain return on investment.  It won’t break my heart like Waltham will.  All my longing and wishing for it to be just a tiny bit more accommodating, couldn’t the square foot price be a little more flexible to my needs, won’t change the reality that it will let me down?  The kitchen requires renovation, the floors need refinishing, the windows need replacement or a brilliant carpenter to replace sills and make some necessary repairs to keep the water out.  Funny how something you can absolutely adore can also be the bane of your existence.  I’m still scared from my last water encounter and am proceeding with extreme caution.  It doesn’t change the reality that I was up in the middle of the night again for three hours pining away for Waltham and asking myself how far I’ll go on my revised offer to get #2.  I’m starting to resent it already for not being as cute, fun, and interesting as Waltham, and yet I know that when the going gets tough Waltham will leave me in the lurch.  What to do?

Waltham Bedroom

I won’t give up on Property #2 yet.  I’ll push that resentment down into my toes, put a smile on my face and offer, gulp – a lot more.  I’ll worry all day long, waiting for the 8 pm decision and phone call, most certainly ruining my day in the process.  I hate not being in control, but what can I do?  Waiting patiently was never a strong point.  Will you wait with me?

I’ve never been much for not knowing.  I like to define things.  Like a little kid that feels best when the perimeters are drawn out for them, giving definition to the relationship makes me feel warm and fuzzy.  So you can imagine the state I can put myself in over wondering and waiting to see if my offer will be accepted.  Will I be rich enough, will I be pretty enough, will they end up picking me.  Que sera sera my necktie….I want them to beTHAT into me.

Property 1: Living

 None-the-less, I do need to be prepared for them to say  “I like you, but not enough to sell it to you”.  Having been on the receiving end of that line and other similarly delivered and unwelcome messages, I need to prepare myself for the reality that I may not get it.  After all the heartbreak, you learn, for better or worse, not to give your whole self to the place.  Plenty of time to fall in love once a commitment has been made – even if it’s only a Purchase and Sale.  It’s something.  I don’t need the full “I love you and want to spend the rest of my life with you”, just move it forward, keep the momentum going, and little by little, perhaps something special will come of it all.  This Boston marketplace is like being one of hundreds – thousands even, of Bachelorette’s in the hunt for the one “perfect” man.  He’ll receive a lot of offers, but are their intentions in the right place?  My promise is to leave it better than I found it. Even the fiercest competitors don’t always have the best interest of the condo in mind.

I made the acquaintance of three properties in less than 24 hours.  Consider it speed dating of sorts.  You have only moments to make up your mind about whether you’ll hand over all your financial information, and allow “them” to go trawling through your drawers – thankfully my nickers are fifth date prepared.  I can write a check faster than most people can find their keys in the morning.  I’m so adept at it that I was tempted to write several, recalibrating my various scenarios based on the properties perimeters, but apparently like dating three or four men at the same time, it is frowned upon.  Not wanting to hurt anyone’s feelings, and being cognizant of the legal nature of the contract….one offer will have to do for this weekend, but if it’s not accepted, I’ll be back on the market next weekend.  Make no mistake, I won’t end up alone.

Property 1: Kitchen

Property #1 is in the 8 Street District and is lovely, lovely, lovely.  Admirable proportions, sun splashed private deck, A/C to keep you cool when you overheat, and ample room to splash around in the bath.  At $816.92 a foot, there isn’t a lot of room for improvement.  I was tempted, sorely tempted, to just throw up my feet, rest my head, live my life, leave it alone, but…  I’m nothing if not loyal – I promised you a circus act, and aim to deliver but there has to be something in it for me.

Property #2 is located a little off center of perfect but brings the essence of a Paris neighborhood with its fountains, flowers, finches, and the fine heeled.  While a Parisienne wouldn’t be caught dead living below grade – this Boston gal would consider it.  Two beds, two full baths, A/C, in unit washer and dryer, a patio, and….gasp a parking space make this unit decidedly attractive.

Property 2: Living Room

Property #3 is also located on a tree lined street with fountains.  The unit itself had some wonderful opportunities, with its two bedrooms (horribly carpeted), kitchen (boxed in and begging for a sip of air), and “updated” bath, but the exterior of the building was in sad, sad, sad shape.  I want a building with a happy exterior.  I want it tight, and sure, clean, and well kept, I want it to look like someone cared.  Sadly #3 looked neglected, but maybe that foreign graduate student will buy it and pour a boat load of money into it.  One never knows.

My choice was Property #2.  The numbers don’t lie.  At $668. SF – we could be very happy together.  I tendered the offer…I wait with baited breath.  Will I be enough?  I know I am .. will they realize it before it’s too late?

I should be out on a date now, having my pretty dress and sparkling personality admired, but alas I feel honor bound to tell you about one girls quest for survival, inspiration, and an egg to put in that nest of hers. I do hope you appreciate the sacrifice.  The hunt is on my friend, and I plan to be relentless.

Property 3: Living Room

To my wonderful boss Lisa Wexler, who encourages and supports this…interesting mission…thank you!

“Well,” said Pooh, “what I like best,” and then he had to stop and think. Because although Eating Honey was a very good thing to do, there was a moment just before you began to eat it which was better than when you were, but he didn’t know what it was called.”
― A.A. Milne, Winnie-the-Pooh

Winne-the-Pooh

I awoke this morning and went to yoga.  It can be so hard to be in the moment, to breath, to soak in the experience, to resist the urge to have the something next in our lives arrive.  I practice it but mainly it remains elusive.  One thing I really like about flipping is that I know each place, each experience has the potential to be a singular one, which makes me appreciate it a little more.  One holiday, the last dinner with friends in the space, a sole Summer, Fall, or Winter.  To experience things as firsts and lasts, brings them into focus.

I was intent on making an offer on one of the three properties I visited this weekend, anxious to get number 3 under agreement.  I loved the Pembroke Street property for all its beautiful original detail, grand crown moldings, prominent baseboards, french doors to a small outdoor deck.  It needed a little TLC, it definitely had a water infiltration issue, and the price did not reflect either.  6 units in the building and only one other Owner Occupied made this property a NO.  Mortgage Lenders have become much more stringent in their requirements post short fall, and this is something at which they take a close look.  Concern for how invested non-owner occupied parties are in the care and maintenance of the building is real.  While Pembroke is an excellent street – the number of days on the market in this climate tells most of the story about its issues.

Pembroke Street

Union Park, one of the most sought after streets in the South End sounded promising with its two bedrooms, but an in person visit revealed its deficiencies.  The exterior of the building looked to be in good shape, the interior – tired, and the unit, make no mistake, needed to be gutted.  At over a $1,000. a foot, and the roughly quarter of a million you’d need to put in, you wouldn’t be going anywhere fast with this property.  That’s another NO for me.

Union Park

Worcester Street which sits on the edge of the South End, and lacks the convenience and proximity to Copley Place and many of the popular restaurants, is still considered a fairly good location.  This floor through, parlor level, one bed with all its original detail was very attractive.  Some questionable design decisions were made in the bath and kitchen but nothing that couldn’t be fixed with a relatively minor face lift.  I suspect its relatively inexpensive price tag will mean that it will go under agreement this weekend.  If the kitchen and/or the bath needed to be gutted and the asking price reflected that, I would have made an offer, but it would be difficult to make much of a return here so I close this weekend without the possibility of a new home.

Worcester Street

I will have to live in the moment of this week, waiting with baited breath for the release of the next wave of open houses.  Fingers crossed.

Open to Possibilities

Saying goodbye to a home is bittersweet.  All that hard work, Preparing to be homeless, well, takes some mental fortitude.  I know the drill.  I’ve done it before.  When you are doggedly focused on a Quest, it is made a little easier.  The frantic activity associated with moving forward while not knowing if you will really move forward is exhausting.  Will the sale go through, pack everything you own anyway.  Make your arrangements, say your good-byes, remember, appreciate, be in the moment of this fantastic whirlwind of a life, knowing that you orchestrated it this way.  No one to cast a judgemental eye toward, and many, many people to thank for their support, advise, council, and understanding.  When the clock struck twelve on Friday afternoon – that home was no longer mine.

I owned it for less than 500 days.  1 year, 4 months, 1 week, 4 days. It’s got a nice rhythm to it.  It felt longer.  Maybe it was the two winters….  I bought it for 639 dollars a foot and sold it for 812 with no broker.  Some argue it was because of the roof deck, but it wasn’t that long ago when the property looked distinctly different (I would argue – ugly) with the same roof deck it has now, and it didn’t sell for that price, so I choose to think that it had something to do with the design.  Illusions have played a significant role in keeping me going over the years and I see no reason to diverge from that course now.  It makes me happy.

Good-bye Jonathan Adler Rio Pendants

My poor bewildered friend and Real Estate Broker, Alan Duggan of Hammond RE was surprised to learn of the sale, and a bit chagrined.  He has many buyers and very few sellers.  I told him not to worry.  We’ll find something in deplorable condition, badly laid out, dirty, decorated with an eye toward the functional rather than the refined, painted a rainbow of uninspired, or any combination of the aforementioned.  They do exist, and that kind of an undertaking is not for the faint of heart.  Eyes wide open dear buyer.

I will see three this weekend and will likely put in an offer.  There is freedom in the temporary nature of the decision.  Unlike the buyer who plans to make their home in the property for years to come, I will only be resting my head there for a short time.  Fixate on it, fix it up, fix to get out.  I know you haven’t forgotten that 3 is the Magic Number.  My design brain is a whirl with possibilities.  Stay posted as it all unfolds and don’t feel sad about Milford Street.  Its new owner promises he loves her and I feel certain he will take very good care of her.

2 down.  8 to go.

Million Dollar View