Most silent blog in the West
Posted by: Rich in Arizona, Digital Photography, Notes from Gadget
Well, I knew I’d come up with some type of western title for myself eventually. Not the fastest gun in the west…..fastest typist in the west…..shiniest trailer in the west……. Nope. None of that. Instead I seem to currently be the quietest blogger in the west.
Hey, it happens. I looked at my blog entries from last year in November and December and noticed that there was a significant fall off in blogging back then too. Wonder if there’s a pattern developing….Ah well, who knows?
The point is, I’m here today. And it’s nice to have something to type about again. No work related stuff, although I’ve got a doozie that I’m debating writing about. We’ll see where that goes.
But, on to recent events…….
With some available time in hand I decided to take a long ride out and see what I could find interesting today. Morning errands and the rest were taken care of, and I felt like a guy with time once again. Nice feeling. So, what to do, what to do?
Given that I enjoy this area so much I decided to do a little house hunting today. See, I’ve been watching a piece of property for quite a while. It’s a wonderful spot, gorgeous views, etc. The place is definitely a “fixer-uper”, but I think I can manage it. The best part, motivated sellers.
The current owners smartly decided to get a second mortgage the other year in order to finance some home improvements. Unfortunately, instead of using the “equity” they’d cashed out they decided to invest their funds in an Emu farm. There was a speculative bubble in Emus not too long ago you know…..
Anyhow, these motivated sellers blew through their first refinance rapidly, so they also got an equity line on the home and on their Emu farm. Nothing like the equity ATM machine you know….
In the end, these poor souls have found themselves in something of a bind. A home they’d bought only 6 years prior for $30,000 had ballooned in value to $500,000. And of course, being wise investors they cashed out all of the “equity” in the form of loans. However, with the real estate market now correcting, the Emus relocated to their home country, and the family dog now in charge of their finances due to it’s prudent nature, these motivated sellers are ready to head out.
And fortunately for me, they’re willing to sell the place for only $400K! Wow, lucky me…..maybe the market will go back up and I can get on the Equity ATM band wagon!
I’m now wondering, has anyone reading this gone pale?
Seriously, step back, deep breath.
Feel better? Yes? Good.
All of that was tongue and cheek gang. First off, not house hunting yet. Secondly, the photos you’re seeing are of a run down cabin in the middle of nowhere. Lovely scenery, spooky broken windows and wrecked cabin. Just a place I saw on a nice ride today…….
And oh yes, I am picking on the home equity loans, adjustable rate mortgages, etc. Also, I got wiped out in the Emu market the other year……
See, here’s the bottom line. The only way to truly get the built up equity out of a place is to sell it. Taking a loan based on rising equity is the same as gambling. Markets don’t always go up. That’s why economists use words like “cyclical”. Too bad even economists suspended the use of cyclical during the 90’s and this decade as well….. Ok, enough with the housing vent….listening to too much news lately I suppose.
Today’s ride took me way out past Perkinsville. Yes, I’m still looking for the cliff dwellings in that area. And Sadira was kind enough to come along for 6 hours of trolling around the back roads of Arizona. We also picked up the book, “Backcountry Adventures Arizona.” It’s got tons of cool off road adventures. This area is full of them.
We did get to see some amazing views today as we headed toward Sycamore Canyon via the washboard (and sometimes washed out) roads of Northern Arizona. Many redrocks, a coy dog dashing out in front of the slow moving truck, and too many cows to count.
In the end, we arrived at a trail head in the middle of nowhere. Stunning views, camp sites everywhere, and it was already 3 pm. So we had to turn right around. Next time I’ll plan to head out earlier, as I’d like to hike up to the redrocks. The area was my own private Sedona. Pretty cool.
Here’s the latest gallery of what we came across today……
Oh, and sorry about the tongue and cheek treatment on the housing bubble. I keep hearing about plans to step in and freeze rates for folks with adjustable rate mortgages, bad lending practices, etc. The news is full of stuff on people saying they didn’t know what they were signing. I’ve got to say, if you make $40K per year and you hear you’re qualified for an $800K loan, look very close……oh, and don’t do it! Otherwise you might look to your own dog as the most prudent investor in your household.
Oh, and stay away from the Emu market, please!
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Good advice about the emus…that. Much more money to be made with the ostrich eh? I thought it was a lovely home, and I’m sure you could swing the $400,000. (don’t worry about the lack of water thing at all…)
Thank you for such a fun day Rich! I tell you though, it was hard to see the Sycamore Canyon trail head and not go for a quick 2 hour hike, wasn’t it?
Of course, it will still be there another day…along with all of those wonderful camping sites! Then again, now that we have that great book, we’ll have ton’s of other places to choose from as well
How much land would you get for $400k there?
Yesterday Trump was on encouraging people to buy now, and sell in 6 months to a year from now.
I’m already planning on selling within that time frame, as soon as I finish some tasty upgrades buyers have to have.
I have no clue where to move. I’m researching on everything. Here, we have the highest carbon monoxide levels in the nation. Kind of bugs me. I never had breathing problems, but here I can feel the difference and I don’t like it.
It has to be from the volcanoes.
I regret not buying in AZ 2 years ago. The market has really gone up in the areas I was looking at.
I was looking at west side of phoenix, since I want to be a little different than everyone who is going to the trendy east side.
I’m a semi city girl, semi recluse self employed, in business with my mom.
My mom and I live next door to each other here, and we want to move buy 2 more newN homes side by side wherever we go.
My list includes: Boise, northern NC, AZ, Colorado Springs CO, inland parts of Virginia and Santa Fe NM.
I’m lost!
Hopefully I’ll make up my mind by the time the house sells! lol
Your photos on Dreamstime are great!
Ah, you’d actually get a good deal for $400K around here if you’re buying outside of Prescott. I’ve been watching a place in Chino (brand new, next to other new places) go from $220 to $182K now. Waiting a little longer.
I’ve been to every place you listed in your search. I LOVE Virginia, especially Damascus (from my hike on the AT). Santa Fe was amazing too, but way too pricey for what you get. NC is pretty, but really depends on where you go.
If you like a larger town / city, but still want to be remote, look at Prescott. It’s got a nice mix and balance. Houses in town are over priced, but the market here is beginning to correct too.
Oh, and I’ve been in Phoenix during the summer…..woah, too hot.
Thanks for checking out my Dreamstime shots too!
Hee Hee Hee. Good little ‘fixer-upper’ there! Kind of rustic (more like rusty), but charming. I can just see the listing now…
Beautiful little wooden cottage, 2 bedroom, 1 bath, with working fireplace. Needs a little loving care, but just right for that weekend handyman!
Also perfect for horses, and zoned for other animals as well! Complete with own water tower - can’t lose on this one!
Wish I weren’t long past the Sycamore Canyon hike age! So you do it, write about it, picture it and I’ll enjoy it vicariously! Have a Happy, Happy New Year, Rich!