25 months and counting....

Hello everyone out there in cyberspace.... I know everyone is eagerly awaiting an update to this blog !!! =) Anyway, our latest news is a settlement date of July 10th. I have a 2% confidence factor in this date... Me and Beth are guessing first week in August for settlement, GC beginning work end of august and completing stabilization of our home, 2246 Linden, in December, and us starting final build out with our own finacning and GC January 2007. Assuming 6 to 8 months for final build out puts us moving in around August 2007... only 39 months after trying to buy this home !!!

We'll lock in our final financing over 3 years later than we wanted to... predicting over 2 or 3 points higher than what we could have gotten, and assuming a materials price hike of over 15%...

But, on the positive side, we do hope to use a Healthy Neighborhoods Initiative loan, locking us in at 1% below Fannie Mae rates, and have applied and been accepted in the Maryland Historic Tax Credit program, where we recieve 20% of rehab costs by way of a tax credit, for doing a historic rehab, with max credit at 50K... which we are sure to hit...