At some point after the Jets and the Patriots finished up their game (what, I'm supposed to know who won??) our septic design guy called with the results of the perc test, actually performed Friday.
Apparently Wednesday's order of business was to simply find sites and dig holes in the ground. On the next day with temperatures above 25 degrees (Friday) he actually filled the holes, and then watched them drain.
The result is good - the ground is absorptive enough for a septic system where we want it. The catch (isn't there always a catch?) is that our ground is somewhat rocky, and he'd really prefer to know what he's digging into before he designs the system. Is this a rock, a mound of earth, or a ledge that requires dynamite (well, maybe not that bad). To make this more challenging, we have about a foot of snow on the ground, pretty much masking the property with a blanket of white.
So there's a good chance we won't make the March 1st deadline for getting the house in place, before they post the roads. We'll have to play it by ear for a while. Dale, our construction overlord, is going to talk to the septic guy and see what the options are.
Tuesday, December 18, 2007
Wednesday, December 12, 2007
Today - Perc test
Today is our perc test (as Steve got to find out by an early morning phone call). It's an interesting day for the test, since it has been cold, snowy and sleeting/raining for the last 24 hours.
From Wikipedia: "A percolation test consists of digging one or more holes in the soil of the proposed leach field to a specified depth, presoaking the holes by maintaining a high water level in the holes, then running the test by filling the holes to a specific level and timing the drop of the water level as the water percolates into the surrounding soil."
I suspect our soil is already pretty wet, given the rain, so it will be interesting to see how the test comes out. As one person noted, better to have the test on a wet day, and know what you're in for on future wet days, then have it in a drought and get the wrong idea about the soil. We'll find out soon how well the septic will work where we're thinking - the next hurdle in our race for a house.
From Wikipedia: "A percolation test consists of digging one or more holes in the soil of the proposed leach field to a specified depth, presoaking the holes by maintaining a high water level in the holes, then running the test by filling the holes to a specific level and timing the drop of the water level as the water percolates into the surrounding soil."
I suspect our soil is already pretty wet, given the rain, so it will be interesting to see how the test comes out. As one person noted, better to have the test on a wet day, and know what you're in for on future wet days, then have it in a drought and get the wrong idea about the soil. We'll find out soon how well the septic will work where we're thinking - the next hurdle in our race for a house.
Friday, December 07, 2007
Making an Offer - episode 2: Acceptance
So we heard back through our Realtor that our offer was accepted. At this point, it is just a verbal acceptance, as they work on circling the paperwork that needs to be signed. It is enough for us to go ahead with arranging for a perc test, as well as communicating with the lender that things are going forward.
So, now that they know we like their property, and they can't consider other offers, I have been freed to say more about it!
Here is the MLS listing on our Realtor's site: MLS No. 2681718.
Go skim it at least, so I don't have to repeat myself. It has pictures!
Okay, so we ended up going with the psychological offer of $80,000 (starts with the same number) and that is what was accepted. We have all kinds of conditions on the contract, like a suitable perc test, obtaining financing, etc, but if all that works out, we should be able to move ahead. We dropped off our many-times-signed mortgage application yesterday morning and should hear back some time today.
The property is located here, on Google Maps. You may have to zoom out a little, and I recommend the Satellite image for clarity. Yes, there's a development going in next door. There are also a few other horse properties on the road, which may bode well for finding out about local trails to ride on, besides the glorious network of dirt roads.
More soon, I'm sure!
So, now that they know we like their property, and they can't consider other offers, I have been freed to say more about it!
Here is the MLS listing on our Realtor's site: MLS No. 2681718.
Go skim it at least, so I don't have to repeat myself. It has pictures!
Okay, so we ended up going with the psychological offer of $80,000 (starts with the same number) and that is what was accepted. We have all kinds of conditions on the contract, like a suitable perc test, obtaining financing, etc, but if all that works out, we should be able to move ahead. We dropped off our many-times-signed mortgage application yesterday morning and should hear back some time today.
The property is located here, on Google Maps. You may have to zoom out a little, and I recommend the Satellite image for clarity. Yes, there's a development going in next door. There are also a few other horse properties on the road, which may bode well for finding out about local trails to ride on, besides the glorious network of dirt roads.
More soon, I'm sure!
Tuesday, December 04, 2007
Making an Offer - episode 1
Now that we have a real estate agent lined up, it's time to start thinking about making an offer. What is land worth? Cleared vs. wooded is an obvious concern, and a perc test and/or septic design are obvious price uppers since work has been done; but for pristine, unexplored land, who is to say what it's worth?
The plot we are looking at runs a few thousand under $100,000 and has a few acres to it. That, in the world of real estate, is called an asking price. Apparently no one offers on the asking price. You low ball it. But as newbies to this process, how much do you low-ball? That's where the advice of our Realtor is useful, but even she can only advise. We asked her about offering 85% of the asking price, and she said it wouldn't be too low. But it might not be taken seriously, either. Steve thinks keeping the ten-thousand number the same is magic: offering $60,000 on a $69,000 asking price (purely as an example).
I suppose we'll find out soon as we're having the paperwork drafted as I type.
Stay tuned!
The plot we are looking at runs a few thousand under $100,000 and has a few acres to it. That, in the world of real estate, is called an asking price. Apparently no one offers on the asking price. You low ball it. But as newbies to this process, how much do you low-ball? That's where the advice of our Realtor is useful, but even she can only advise. We asked her about offering 85% of the asking price, and she said it wouldn't be too low. But it might not be taken seriously, either. Steve thinks keeping the ten-thousand number the same is magic: offering $60,000 on a $69,000 asking price (purely as an example).
I suppose we'll find out soon as we're having the paperwork drafted as I type.
Stay tuned!
Sunday, December 02, 2007
Actual note-worthy news
We're going to build a house! Soon.
For background on why, read Deef's blog. As indicated by the lack of subsequent blog entries, he has been very busy working on it since then. (If he weren't, he might have posted since then.) So since a lot of people are interested in our progress, and as a check to make sure Steve has told me everything he should have, I will blog about it. If he tells me something (and it won't harm our prospects by making it public) I'll tell you.
Build your Dream Home
We chose a local modular home builder, Dale's Homes, in White River Junction, Vermont. We knew the sales guy before going into it so we're more comfortable working with them. They are a local distributor of Ritz-Craft modular homes, among others. They also provide or sub-contract the site preparation, finishing and landscaping of properties. So far they've been great to work with.
George Burge (sales guy) has been helping us nail down a floor plan and options to go into the house.
Our first pick was the Chesapeake. But since it comes in three pieces, the cost was going to be too high. [whimper]
Then we looked at the Fairfield. This one, while only coming in two pieces, ended up being about as expensive as the Chesapeake. We looked briefly at a narrower version, but that felt too cramped.
Our current (final) choice is the Brookland. It has the rooms we need, the "character" I want, and the basement square footage Steve needs. Now we just need to settle on options (sound insulation is a big one). We're currently waiting on an estimate of our first somewhat conservative pick of options. Oh, and we want to go with the optional bathroom arrangement that makes the master bath bigger.
But where?
If you're going to build a house, you have to have a place to put it. We're pretty sure our current landlord doesn't want another house on the property. So we need to acquire land. This is the fun part. Steve needs high-speed internet and easy access by transport trucks (for deliveries). It should also be near a post office. I want a decent plot of land (future horse farm) and dirt roads and trails nearby. This shouldn't be too hard, right?
Well, there's also the price range we need to consider. Land isn't exactly cheap in the Upper Valley. Neither are taxes. Speaking of taxes, Vermont is right out. Been there; done that. So, there goes half of the Upper Valley. I will still be working at Dartmouth College for a while, so proximity to that is a must. Hanover, Lyme, and Lebanon were right out to begin with. They are so close to Dartmouth and they know it. Affordable land has to be further afield. So we looked at Plainfield and Orford and learned they were pricey too, or too far away (post office and 30 minutes to Dartmouth requirements). Next came Claremont, which proved to have taxes worse than Hanover.
Finally we started finding good options in Enfield, Canaan, Grantham and Springfield. The latter two were really as far away as we'd want to be and there was one good plot that we later learned was under contract. So we kept looking.
To bring this to the point, we are now looking at a plot in Canaan. It is practically perfect in every way. It is on a dirt road, but only 1/8 of a mile from the paved part. The nearest Post Office is five minutes away, and it is surrounded by dirt roads and trails to explore. Canaan also has the Northern Rail Trail, an old rail bed converted to a biking, hiking, riding trail.
We did discover a little hitch in this process: if you use the same Realtor to buy the land as is selling it, they can't help you as much as an unaffiliated Realtor. For instance, giving you an idea of how much to low-ball on your first offer. So we are now working with Vanessa Stone, a local Realtor who buys and sells primarily in Canaan and Enfield.
So, that covers the what and where (to as much degree as we can now). What next? Well...
HOW do you get a Mortgage?
This is apparently a big question. I've always wondered why there are so many different banks, even in a small area like the Upper Valley. Now I know: each bank has its own special reason not to give you a mortgage, so you have to call around until you stump one of them.
In short Lake Sunapee Bank wouldn't give us the time of day without 20% down. Citizens Bank, affiliated with the NH Housing assistance people, advertised all kinds of great loans, like 5% down, but really require 20% down on construction of modular homes. We didn't really want to work with them anyhow. :-P
Steve also spent a less than productive day chatting with a lender from Bank of America. An hour into the online chat, they finally connected via the phone for another half hour until she realized he was talking about building a house (the second thing he said in the chat). She said he had to call the construction department and gave him the phone number. The WRONG phone number. He hasn't called back as we aren't too impressed.
That leaves us with Mascoma Savings Bank, a local bank that will give us the construction mortgage on a modular home with only 10% down. Steve has an appointment Wednesday with them to try to get pre-approved for the loan we need, so we can move ahead with finalizing the design, making an offer on the land and who knows what else. Luckily, I think Steve knows, and he'll probably tell me soon.
If you want a peek at what Steve has in mind for the basement, lookie here.
For background on why, read Deef's blog. As indicated by the lack of subsequent blog entries, he has been very busy working on it since then. (If he weren't, he might have posted since then.) So since a lot of people are interested in our progress, and as a check to make sure Steve has told me everything he should have, I will blog about it. If he tells me something (and it won't harm our prospects by making it public) I'll tell you.
Build your Dream Home
We chose a local modular home builder, Dale's Homes, in White River Junction, Vermont. We knew the sales guy before going into it so we're more comfortable working with them. They are a local distributor of Ritz-Craft modular homes, among others. They also provide or sub-contract the site preparation, finishing and landscaping of properties. So far they've been great to work with.
George Burge (sales guy) has been helping us nail down a floor plan and options to go into the house.
Our first pick was the Chesapeake. But since it comes in three pieces, the cost was going to be too high. [whimper]
Then we looked at the Fairfield. This one, while only coming in two pieces, ended up being about as expensive as the Chesapeake. We looked briefly at a narrower version, but that felt too cramped.
Our current (final) choice is the Brookland. It has the rooms we need, the "character" I want, and the basement square footage Steve needs. Now we just need to settle on options (sound insulation is a big one). We're currently waiting on an estimate of our first somewhat conservative pick of options. Oh, and we want to go with the optional bathroom arrangement that makes the master bath bigger.
But where?
If you're going to build a house, you have to have a place to put it. We're pretty sure our current landlord doesn't want another house on the property. So we need to acquire land. This is the fun part. Steve needs high-speed internet and easy access by transport trucks (for deliveries). It should also be near a post office. I want a decent plot of land (future horse farm) and dirt roads and trails nearby. This shouldn't be too hard, right?
Well, there's also the price range we need to consider. Land isn't exactly cheap in the Upper Valley. Neither are taxes. Speaking of taxes, Vermont is right out. Been there; done that. So, there goes half of the Upper Valley. I will still be working at Dartmouth College for a while, so proximity to that is a must. Hanover, Lyme, and Lebanon were right out to begin with. They are so close to Dartmouth and they know it. Affordable land has to be further afield. So we looked at Plainfield and Orford and learned they were pricey too, or too far away (post office and 30 minutes to Dartmouth requirements). Next came Claremont, which proved to have taxes worse than Hanover.
Finally we started finding good options in Enfield, Canaan, Grantham and Springfield. The latter two were really as far away as we'd want to be and there was one good plot that we later learned was under contract. So we kept looking.
To bring this to the point, we are now looking at a plot in Canaan. It is practically perfect in every way. It is on a dirt road, but only 1/8 of a mile from the paved part. The nearest Post Office is five minutes away, and it is surrounded by dirt roads and trails to explore. Canaan also has the Northern Rail Trail, an old rail bed converted to a biking, hiking, riding trail.
We did discover a little hitch in this process: if you use the same Realtor to buy the land as is selling it, they can't help you as much as an unaffiliated Realtor. For instance, giving you an idea of how much to low-ball on your first offer. So we are now working with Vanessa Stone, a local Realtor who buys and sells primarily in Canaan and Enfield.
So, that covers the what and where (to as much degree as we can now). What next? Well...
HOW do you get a Mortgage?
This is apparently a big question. I've always wondered why there are so many different banks, even in a small area like the Upper Valley. Now I know: each bank has its own special reason not to give you a mortgage, so you have to call around until you stump one of them.
In short Lake Sunapee Bank wouldn't give us the time of day without 20% down. Citizens Bank, affiliated with the NH Housing assistance people, advertised all kinds of great loans, like 5% down, but really require 20% down on construction of modular homes. We didn't really want to work with them anyhow. :-P
Steve also spent a less than productive day chatting with a lender from Bank of America. An hour into the online chat, they finally connected via the phone for another half hour until she realized he was talking about building a house (the second thing he said in the chat). She said he had to call the construction department and gave him the phone number. The WRONG phone number. He hasn't called back as we aren't too impressed.
That leaves us with Mascoma Savings Bank, a local bank that will give us the construction mortgage on a modular home with only 10% down. Steve has an appointment Wednesday with them to try to get pre-approved for the loan we need, so we can move ahead with finalizing the design, making an offer on the land and who knows what else. Luckily, I think Steve knows, and he'll probably tell me soon.
If you want a peek at what Steve has in mind for the basement, lookie here.
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