Adventures in Home Buying: The Appraisal Waiting Game

It’s kind of the crying game.

emailAs I have alluded, we are squarely in the middle of the hurry-up-and-wait phase of home buying. Back in the salad days of February, I foolishly believed that the toughest part was behind us. That was before I was reminded that our mortgage involves an appraisal. Which we are currently on pins and needles awaiting.

For those of you not in the know, should the appraisal come in under what we and the sellers have agreed to pay for the home, renegotiations begin. So I’m a little stressed. Some people do productive things like clean or bake or read when they’re stressed. I tend to turn things over in my head until they are rubbed smooth and I am a ball of nerves. Also, I make lists.




Our house search by the numbers

  • 214: The number of emails among me, my husband, our realtor and our lender (so far)
  • 200: The number of days since we visited our first open house
  • 70: The number of pages signed, initialed and scanned back to our realtor since making offer
  • 40: The approximate number of homes we have toured
  • 22: Days until settlement

 

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  • Juliet

    I’m enjoying your posts, as my husband and I were looking in East Falls (and are currently under contract) at the exact same time as you. We even looked at the two houses that you showed in your “these listings didn’t live up to the photos” post! Rest assured, we aren’t responsible for stealing either of the two houses you had your heart set upon. I wonder if you looked at our future home!

    • Shannon

      Oh wow – how cool! By the time we made our offer I felt like I had met every realtor in East Falls!

      • Juliet

        The only thing that bothers me about the neighborhood is that there could be a better commercial district on Ridge and Midvale. I am hoping that the new Onion Flats development serves as a catalyst to bring more commercial amenities to that area. What do you think?

  • matthew brandley

    The current state of housing is a bubble thats falling /popping. In the next 2 years home prices will be half of what they are and you will wish you would have waited . believe me. The meia is burrying the truth of whats going on. Mortg apps at 19 year lows. New starts at 9 year lows. The only thing carrying housing is new apartments and condo starts. The student loan and credit card debt will doom housing for years to come and nobody is even talking about it. With the chines on the mainland selling homes in honk kong at 1/5 the price they purchased 18 months ag to raise capital since the banks are defaulting and not lending its a matter of time before they do the same over here with all the homes and commercial property they own .