I hit $40,000 in savings today!! I made my goal!! Only took me 3 years! I never set a time limit on hitting the goal (because I never thought I would get there), but 13k a year is good in my book.
And honestly I cannot act like I did it all on my own. I did start out with a bounty of items that I inherited that needed to be sold on eBay.
The money ALL came from eBay...but it was blogging, other sources of income and discipline that kept me from raiding the eBay account time after time.
Anyways, I'm thrilled with hitting the goal, it's a bright spot in this housing thing.
Mortgages are complicated right now...we are primarily working with Bank #2 and we have a preapproval letter. We worked it down to a 5.5% interest rate, so yea that! The funny thing is, Bank #2 told us that if I moved to the city and got a job making $20,000 I just need to show them 2 paystubs and the preapproval would have been sooo much easier to get. Seems like kind of flimsy way of evaluating ability to make future payments...but once I knew how their game worked, I was able to fit my numbers into their formula and make it work. So we did work it all out without me having to move out of state, get a quick job and pay rent on an apartment just to get qualified.
So tomorrow we are driving up to GA to see if there is anything worth spending our 40k on.
We'll see. 3 duplexes went on the market yesterday for 30k less than the one we are hoping to buy...but they are not as nice either, but they are all in about the same location. So the housing market is still in a slight decline, good for us. It encourages me to be patient and wait for the place we want for the price we can afford.
That's it for today. I'm tired. Honestly, all this mortgage stuff has just worn me out.
I hit my goal!!
December 13th, 2008 at 05:05 pm
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in the last 6 months (four or five for BF) we've managed to save about $11 000. the same as you, it seemed like such a large number that i figured we'd be renting forever.
December 13th, 2008 at 08:22 pm 1229199730
Best of Irish Luck on the housing front !!
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