House Hunting

So, we've been in the process of looking for & thinking about & possibly buying property. Daunting proposition in the Bay Area, on the surface seems almost impossible (generally, half a million $$ won't get you much). But Bonnie has a way of making real tasks out of these things, so we dove in and started to find out what it would actually take. We've been going to a a few open houses on Sundays, and talking to the agents there. Went ahead with a pre-approval process, and from what I learned about mortgages and my credit score, it's started to seem do-able. We met with an associate of Bonnie's, Amber, who is a realtor, one Saturday, and - after some cogent explanations - she's agreed to become our "buyer's agent" for now, and has been outstanding helping with the process. So much so that we found a really fantastic house that had a reasonable asking price (actually a bargain in this market) and we moved forward with putting in an offer!
What an immense undertaking, especially for the first time, even though this property seemed pretty simple in its history. (now I know heaps about escrow, and pest reports, and inspection contigencies, and loan guarantees, and cripple walls). The dollar amount was likely not the highest they'd be getting I realized (almost 9% over asking), but Amber worked with us to make the 'conditions' agreeable. Turns out we didn't get it - the offer that was accepted was higher $ and no-contingencies. A lesson in reality, and a cause to take a step back for a second, but not going to derail us. More to come... For you homeowners out there, I'd love to get some of your tips/caveats/cautionary tales you've experienced.