Having moved 15 times in the last 11 years, I’ve called many different places “home”. And though I’m fortunate enough that “home” was always a place I looked forward to, it was nevertheless transient—I knew that in about a year, “home” would come to mean some place else.
Home number 16 is different. Yes … we bought it! And it certainly wasn’t easy.
Our search started in early September, when signs of the declining housing market finally seemed to have reached our area (which, in San Francisco, meant that the prices were simply “not rising as quickly”). We would scan the listings of various real estate sites, keep a running list of candidates, and make maps and schedules of open houses to visit.
We saw a lot of houses, but none were what we really wanted. While we weren’t ready to take on the challenge of a fixer-upper, the renovated apartments were sterile and lacking in character. Interestingly, we stumbled upon the only house that we liked serendipitously, as it wasn’t yet posted on any of the listings we had checked.
It was an old Edwardian style house, but renovated in a way that retained the original character. Nori’s face lit up as she entered the roomy kitchen with sunlight streaming through the windows. Then she walked out into the backyard and saw the terraced garden that lead up to a deck with a bougainvillea growing along the fence … and I knew it was the one.
Hence began the whirlwind that is buying a home. We found a great real estate agent that was able to help us wade through San Francisco’s complex real estate and rent law. We flew my family’s Feng Shui consultant, along with my mom as a translator, up from southern California to evaluate the house. We made an offer, were rejected, and fought to be considered for a counter offer. Our second offer had a higher price tag, but apparently not high enough, as we were placed second-in-line as the backup offer.
As weeks passed and the contingencies for the accepted offer were supposed to have expired, we heard no news. Although I was staunchly hopeful that our backup offer would go into contract, we had to be realistic, and so we continued our search. But we found ourselves comparing the houses we saw to the one we made an offer on, and none of them measured up to it. In late October, we resigned ourselves to taking a rest from house hunting as we headed to Japan for a two week visit, with plans to continue the search when we returned.
The morning after we arrived in Japan, we received an email from our agent saying that the first offer had fallen through, and that our offer was in contract! Naturally we were elated, but at the same time a bit frantic. Of all the times for the closing process to begin, it happened to be when we were across the sea, largely unprepared. During those two weeks in Japan, I would wake up in the wee hours of the morning to catch the tail end of the business day in California and negotiate between two different loan agents by email while scavenging for electronic versions of the documents they requested. (Luckily, I had saved many of them in my Gmail account—shameless plug!)
After returning from Japan, my negotiations with the loan agents continued as we watched the mortgage rates rise and fall erratically. One week before our closing date, we finally chose one loan package and locked in a rate. All that was left for us to do was sign the papers and wire the down payment.
But the fun didn’t stop there. Although we had sufficient funds for the down payment in our bank account, news broke out that the bank itself (Citibank) was in trouble. With a large portion of our down payment (over the federally insurable amount) at risk of disappearing into the ether, we were denied even the peace of certainty that we could pay the down payment. I rushed over to the bank to immediately wire the money, but it was half an hour passed the Friday deadline, and the transaction wasn’t set to take place until Monday morning. Needless to say, I nervously followed the news of what was to happen with the bank that weekend.
In the end, it all worked out, and three months after we began our search, we picked up the keys to a home that we couldn’t be happier with. We moved in without a hitch with the help of our gracious friends, and have already gotten to know our new neighbors.
Nori now spends a large part of the day in the sunny kitchen, enjoying watching families of sparrows play in the birdbath and dart around the branches of the bougainvillea. She even set up a temporary desk there to study for her finals.
I think this will be “home” for a long time.