Monday, August 18, 2008

Dutch auction

It's a bit of a waste of time watching as closely as I do, but there are rewards. A few days ago, a beautiful mansiony house in that historic neighborhood I watch dropped from 300k to 285k. Likewise, a probably neglected but historically interesting house on the rougher periphery of that neighborhood has just dropped from 99k to 89k. That house is supposed to have all sorts of fossils in the structure and I'd love to see it. Elsewhere, on, a colonialish 2-story 1800 sq. ft. (according to early 1950s house on a loop deep in that neighborhood has just appeared at 165k. I have no idea what the interior looks like, but the size and the price are almost right.

We don't have a downpayment right now and I'm not yet a licensed driver, so all of these places are currently out of reach, but things are trending in the right direction. I expect that the ongoing Dutch auction will continue over the winter. It will be interesting to see when our budget and the housing market finally converge. Hopefully, we can hold onto our rental until we're in a position to buy a house.

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