You may remember this post a little while back about our offer that was accepted on a short sale. At the time of that post, we were waiting to hear back if the short sale would be approved. From there we would go into the appraisal phase, which basically decides everything. If the home is appraised lower than we offered, the appraised value is all the bank will lend us. If the seller wants more than the appraised value (which, in this market they can almost always gets) and we don't want to pay more than the house is worth, then the deal is off. We walk.
But, if the appraisal comes back at or above the offered price, then the deal is still on.
You won't believe which scenario played out for us (okay, based on the title of this post you already know).
The house was appraised at $100 above our offer price. And so, the deal is on. We remain in escrow and close on the house at the end of this month.
All praise and glory be to God.
I said something in that previous post that bears repeating:
God is sovereign over all. And that includes where we live. And I trust Him with that. My prayer during this process has been simple: that we would end up exactly in the place that He desires us to be, in the neighborhood that He has for us, and in His time.
I don't know if you are aware of what is going on in the Las Vegas market right now. Basically, every house that is currently for sale is listed for higher than the value of the house because people will pay it. Inventory is low, so prices are high. And bidding wars are common. Especially in our price range. For every offer we made on a house (which was several) there were probably 20 other offers on that same house. And we were only looking at maybe, 1 or 2 houses a week. Low inventory. In our price range, almost every home for sale is bought by an investor with cash. Offers are accepted within hours of homes being listed. Things are a bit ridiculous.
So, how was a regular 'ole family, not using cash, not being able to pay anything above appraised value, going to get a house in this market? I believe that it's only by the will of God. His provision for our family. And I believe that because I know the God I serve is sovereign over all.
Does he care about where we live? When we move there? How it happens? Yes.
From one man he made all the nations, that they should inhabit the whole earth; and he marked out their appointed times in history and the boundaries of their lands Acts 17:26
God is involved in all the details of our lives, including the boundaries of our lands. He has placed us in specific states, cities, neighborhoods and homes for His purposes. He also does so at appointed times. He knew exactly when the time was for us to buy that home. Wait, back up. He knew when we would need to be in Las Vegas, start looking for a house, before that home was on the market.
Am I saying He called us to Las Vegas so we would buy this house? Absolutely not. I am saying that He had already purposed a home for us in this place before He even called us here. He has a provision for us, a great purpose for us in this place. Living in this house, in this neighborhood, is just part of the whole picture.
So as of today, we are on track to close at the end of September. And even if it doesn't all go according to plan, even if something unexpected comes up, even if for whatever reason we don't get the house, He is still sovereign. We are the kind of people who don't get totally excited until something is a done deal. Signed, sealed and delivered. Because, you know, stuff happens.
Now, I must warn you. This house is a hot mess. Well, it's really just more of a mess. It apparently used to be a rental, one that tenants obviously didn't care for and I'm not sure the landlord had any money to put into it. I say all that to say, it needs a lot of work. I mean, a lot. Which was another reason we weren't willing to pay more than it's worth, because we are already going to have to put a lot of money into it. But we're excited about getting started on that work.
Ben and I are homeowners at heart, but renters by circumstance.
Like I've said before, we would rent forever if that's what we needed to do. We love renting. But we also love making a place our home. And it's really difficult to do that in a rental. Until now, we've been pretty good at finding a balance.
But now we can dive head first into it. I feel like we'll finally be able to settle down, make this place our permanent home (at least until God decides to move us), make some major changes, make it into the place we have dreamed of for our family. There are a bunch of wood working projects Ben can't wait to get started on and I'm already dreaming about which walls we are going to knock out. Stay tuned for that progress!