rideside.net

Posted by tommy on 2007-04-02 13:36:44 +0000

Elmer Bumpus

We bought a house this weekend. Or, well, entered into an agreement to buy a house anyhow. First house on the left after crossing the Elmer Bumpus Bridge out of Union Sq. (Somerville, not Allston). Classy mansard roof! No vinyl siding!

Home inspection is tomorrow. Fingers are crossed.

Pictures <a href="http://re.boston.com/sales/View_Ulisting.asp?lid=2630-70525686">here</a>, at least temporarily.

Posted by MF DU on 2007-04-02 13:40:07 +0000

congrats!

Looks awesome :)

Posted by Riotous Nutjob on 2007-04-02 13:42:23 +0000

Awesome! Sweet place. Union Square rules.

Posted by Epoisses on 2007-04-02 13:43:03 +0000

Holla!

Posted by pamsterdam on 2007-04-02 14:32:12 +0000

Oh, I am in *love* with that place. I'm crossing everything that can be crossed for you (fingers, toes, legs, eyes...).

Posted by tgl on 2007-04-02 15:03:10 +0000

Looks great, good luck!

PS The inspection is another opportunity to haggle...

Posted by ConorClockwise on 2007-04-02 15:04:17 +0000

Sick pad, Tommy.

Posted by G lib on 2007-04-02 15:14:52 +0000

You=rule.
Me=jealous!

Posted by virtue on 2007-04-02 18:24:30 +0000

Pretty jealous myself--I do love a mansard roof. Good luck!

Posted by mahatma chani on 2007-04-02 18:34:48 +0000

Has the market for owning a house collapsed? Or is there something seriously wrong with this house? Seems a might cheap... But then again, why listen to me on matters of real estate. I'm always gonne be so stone broke it's just a matter of time I'll either move into an ATM kiosk or to Calcutta.

Posted by tommy on 2007-04-02 19:03:18 +0000

Not collapsed, but maybe stagnated a bit. The price for this house was about in line with other 'comps' in the area. We looked at a bunch of other places, and it didn't feel like we were getting ripped off nor that we were getting an especially sweet deal. I've been casually looking at prices over the last year, and they don't seem to have moved much, at least in our immediate area.

We know that the place will need a new roof soon. There's nothing else wrong that's apparent to my untrained eye. We'll see in the home inspection tomorrow if there's anything else seriously wrong.

This place is directly next to a construction site which will become an elementary school... some people apparently are put off by that.

Simulated real estate listing, if Mahatma's ATM kiosk was for sale in Union:

Charming, cozy studio with large parking lot!!! Steps to Harvard Square! Green line extension coming soon!!!!! Easy to heat! Wired for network... think home office: goodbye commute!! Cathedral ceilings! Could add loft to get even more square footage. Needs TLC.

Posted by tgl on 2007-04-03 02:06:55 +0000

Home values are off about 10% from this time about two years ago. (I know, I purchased at the absolute peak). Not sure that's a "collapse". Home values usually start to climb through the spring and summer anyway (families like to move between school years).

Unless you are buying to speculate/flip... it's always a good time to buy. Interest rates are still pretty low, especially through your credit union (what I lose on my savings/checking account I make up for on my home/auto loan).

That being said, home ownership is vastly overrated. There are cheaper ways to save money than home equity.

Posted by ConorClockwise on 2007-04-03 16:08:48 +0000

"There are cheaper ways to save money than home equity."
A car loan is not one of them.

Posted by tgl on 2007-04-03 16:16:02 +0000

My 0.5% savings account subsidizes my 5.125% auto loan. But, you are right, I am not saving money by buying a car. Which is also true with real estate.

Posted by Miriam on 2007-04-03 18:56:35 +0000

Very cute house. Sure you don't want to move to Nashville and spend 1/3 that?

Posted by tgl on 2007-04-04 01:04:19 +0000

Sure you save a couple hundred grand... but which plague has not visited your house lately?

Posted by Epoisses on 2007-04-04 01:35:09 +0000

And aren't you posting from Boston?

Posted by tommy on 2007-04-04 02:28:04 +0000

Interesting. At my credit union, it's the other way around. My savings account pays 4%. This is apparently subsidized by their mortgages which are now at 6.375. Compare with Cambridge Savings Bank's 5.875, for example.

Posted by tommy on 2007-04-04 02:28:38 +0000

Too far of a walk to the red line!

Posted by tommy on 2007-04-04 02:36:19 +0000

Got the home inspection today. Scariest stuff:

1) Needs new shingles on roof (already knew that going in)

2) Insect damage to non-structural wood 'walls' in basement which were used to hold the giant pile of coal in place back in the day. No evidence of any insects still in the house, nor any structural damage... having a pest inspector come by tomorrow to make sure

3) Oil tank needs to be replaced.

Anything else is minor: fixable by me or else not important enough to bother fixing, at least for a while.

Posted by tommy on 2007-04-04 02:39:52 +0000

L'engagÃ© just got back from Wisconsin where her buddies were also all horrified by the price. Her friend in Madison is paying 1/3 less for her mortgage than we are paying now for our rent. I can't say that's not tempting. Plus, sausage races!

<img src="http://www.theamericanmind.com/images/springtraining2006/racingsausages.jpg" />

Posted by ConorClockwise on 2007-04-04 03:33:56 +0000

For about 150% of the oil tank replacement you can convert to gas, I believe.

Posted by tommy on 2007-04-04 10:22:33 +0000

Even less in our case. There is actually already a gas line to the house, as they once had a gas stove, but for some unknown reason, they decided to switch to electric (crazy bastards!).

Posted by tendiamonds on 2007-04-04 13:33:28 +0000

Posted by tendiamonds on 2007-04-04 13:34:22 +0000

Flat surface electric stoves are easier to clean. That's the only advantage I know of.

Posted by Miriam on 2007-04-04 14:38:22 +0000

I'm still waiting for boils, lice, frogs, blood, darkness, hail, locusts, cattle disease and the slaying of the first born. But while waiting for my sister to pick me up to bring me to the airport on Friday I noticed three hornets nests under my fence. Not sure what to do about that; no one will step on them, until I try to clean those gutters in the fall (they're to the side of my carport.

Tommy...that house is great. When I lived in Union and was convinced I was going to buy a house, I remember seeing that listed at $520,000. Looks like they've come to terms with the market over the last 1.75 years. Best of luck!

Posted by Miriam on 2007-04-04 14:39:23 +0000

Posting from Boston, and freezing! Doing laundry now so I can pull on warm jeans for the wait at the bus stop...or walk to Sullivan.

Posted by ConorClockwise on 2007-04-04 14:40:48 +0000

Agreed

Posted by tgl on 2007-04-04 14:45:21 +0000

I'm sure I spilt wine for "mushrooms under the bathroom vanity" on Monday night.

Posted by tgl on 2007-04-04 14:46:22 +0000

Kenmore Elite series has done some nice things vis-a-vis encasing the burners and spill guards on top of the burners.

Posted by Miriam on 2007-04-04 14:49:25 +0000

I think that was part of the three on the page before the 10. Instead of pillars of fire, I thought the spores were char marks when I first saw them...that probably counts for something.

Posted by tendiamonds on 2007-04-04 17:53:30 +0000

Craftsman!

Posted by tgl on 2007-04-04 18:08:16 +0000

rideside.net

home | archive | comics | about

archive / 2007 / 04 / 02

Elmer Bumpus