March 16, 2005

Going, Going...

...GONE! That's right, the whorehouse is sold! Some schmucks, er, nice couple, offered to give us $5,000 more than we asked for for our 20-year-old, beaten down house, for a total of $370,000. That is a 75% increase from what we paid for it three years ago, illustrating the COMPLETELY PSYCHOTICALLY INSANSE housing market in metro DC. It's madness. We put the house on the market last Friday and had our first contract in five hours. Three more rolled in over the weekend.

This is happy for us, because the King wants to start investing in real estate when we get to Hawaii. I don't want to, but he's managed to talk me into buying some sort of property we can rent out, ala a condo on the beach or something. I agreed because if the renters turn out to be for shit and leave us without paying, we can always go and live in it. Not so if we had gone with his other (more-beloved) idea, which was to buy an empty store in a strip mall and rent it out to a business. Although sleeping in an empty Baja Fresh might have been kind of cool.


Anonymous said...

I’m going to sound so gloom and doom here, but be prepared for an equally hot market here in Hawaii (maybe at little hotter?). In terms of comparing our housing market to the Mainland I do know it’ still cheaper here than it is in most of Southern California and San Fran. On the flip side the rental market is also hot and tight (snerk that sound so sexual but in reality it’s anything but pleasurable) but it doesn’t look like things are going to back down anytime soon, at either rate I here even Trump thinks Hawaii is a good place to invest in real estate (although he was specifically talking about the Big Island in Kona).

And congratulations on the quick sell and profit. (money, money, money!)


Anonymous said...

and you might want to check out this too: