Shadowbuyer’s Residential Clock Is Ticking

Hello, Shadowbuyer fans.   The pace is quickening.  Since my last real post, we’ve made some progress on multiple fronts, but still have no transactions to report.

My residential clock is ticking.

As you may have read in the comments to my prior post, after the holidays we launched a 5-point attack on some long-listed homes in our target areas.  Some of those offers yielded no response, others earned us counters.  We countered on some of them, but didn’t hit the bid or close the deal in any of the situations.

So, it was back to the drawing board.

Now, I may not have mentioned this to the group, but if you saw her in person, there would be no question in your mind, so I’ll tell you – Mrs. Shadowbuyer is pregnant.  Like, very pregnant.  That means that we have a special kind of time pressure at hand.

Let’s call it the “residential clock,” a play on the biological clock.  The logic on the biological clock goes like this (single ladies out there, am I right?):  if I don’t meet THE guy by age 36, date him for a year, get engaged, then plan and have a wedding within a year of getting engaged, and get pregnant ON THE HONEYMOON, then I’m at risk of being 40 and childless, so I have to make this happen RIGHT NOW!

The residential clock works like this:  our baby is due on June 1 (he’s not, but let’s say he was, for illustrative purposes; oh, by the way, we’re having a boy!).  If you assume that we’ll need about a month (30 days) to scrape, paint, repair, curtain, carpet, basically furnish, and organize a new house, and escrow is typically 30 days, and the offer/counter/counter/accept cycle is typically 5 days, and we would like to live in our new home for, say, 30 days before the baby comes (assuming he doesn’t come early!!)…then, counting back from June 1st, we need 95 days from the moment we submit an offer in order to beat the residential clock.  For those of you keeping score at home, 95 days before June 1st is February 26th.

That means that if the Shadowbuyer family is to buy and occupy its new home without running out the residential clock, then we have just 16 days to identify the property and get to work.

That makes me what they call a motivated buyer, and, that’s why the capitulation is upon us.  My friends, after losing out on the 5-point plan, as well as an ensuing bidding war involving multiple counter-offers and mind games in pursuit of a $2 million+ fixer in a great location that we would have been quite happy to call home (in fact, the street was even listed in THIS POST introducing Mrs. Shadowbuyer some months back as a street of great interest to us), the Shadowfamily is down to a couple of options.

First, we are currently in pursuit of a really cool house that’s well outside of our originally stated target areas. Second, we are considering the possibility that we need to get out of our current rental and keep waiting, probably via a one year lease on a little house with a yard, in a good location.  Though we expect further price declines, we don’t relish the prospect of moving twice, we’re ready to put down some roots, and we hope to stay in whatever we might buy for 10 years or more, so, hopefully, it won’t come down to the rental option.

Do me a favor and root for us to get the house we’re currently chasing.  If we do, I’ll give you a full report on it after escrow closes, and even publish photos of the housewarming as previously promised.

Thanks, Mr. Shadowbuyer

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