It appears as if selling our Sunnyslope 4-plex is not in the cards right now. The realtor that I spoke with doesn't think it would sell for what we would want to get out of it. So, we'll just hold onto it for a while. We've got one vacancy, and we've got ads starting to run this week. I hope we can get it rented soon.
One of the houses we were looking at in Glenarm Farms is going to have a price reduction. The realtor said he would let us know what that is once he talks to the seller. It's a neat idea to buy that house with .6 acre, but I'm not sure we want to get into a larger house payment than we have. Plus, if we had to sell this house, it would likely take a while in this market. We'll see!
We're re-financing two of the condos in Litchfield Park (Alicia's) and the one next door to her. It'll be nice to be out of the adjustable rate mortgages and into nice 30-year fixed loans, with a fairly good interest rate (7.25%).
And, lastly, I spoke with the 9920 Camelback person today (that's the name of the complex where we're buying the new condo next to the Cardinals stadium). We likely won't close on the new condo until the end of October. They still don't have a certificate of occupancy for the models, even though they're completely ready. The clubhouse is also nearly ready to show. We have an appointment on Saturday for a private showing of the models and the clubhouse. That will be fun! I'm a bit leary of buying the condo in this market at the price we're contracted, but my dad says we can get out of the contract and get our money back if we want to. So, that is a bit of a relief, just in case money is more of an issue over the next several months.
We'll keep you posted!! j&c
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