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Submitted by pemeliza on October 9, 2009 - 4:56am

Me and DW are finally getting back in the market (sold very early 04 and moved to North Carolina ... now moving back).

We will be closing soon. Our selected house was a distressed property in a great part of SD. Although it isn't the perfect house for us it is in the ballpark and it is a "special" house that won't always be available. We didn't quite get to the magic 50% off number but are close and the appreciation since the 80's price is modest and probably a bit under inflation.

All the bears can relax now because I'm sure now that we are in another 20% drop is right around the corner.

I have been mostly a lurker at this blog over the last 2 years but have learned a great deal here. Like other piggs that have recently bought this site probably saved us hundreds of thousands.

Our original intent back in '04 was to downsize but we got the timing wrong. After we sold, we entered the spring '04 market and basically wasted 4 months watching prices go up 10-15k a week. After all but giving up on moving back to SD during the boom years we finally saw a ray of light toward the end of '07 that things may be coming back down earth. So started our 2 year journey back to the land of SD ownership. Like others, I am amazed at how fast the wheels came off this puppy ...

To others out looking and hoping to get in I have the following advice ... take it with a huge grain of salt.

1.) Do not focus on a 1 or 2 selected areas. Open your mind to several. By the end we were looking at a great deal of SD and our house came up in an area that wasn't on our primary list but was actually a better area.

2.) Focus on finding the house you really want rather than focusing on getting the best deal. One thing we learned early is that there will always be someone out there that scores a better deal. All you have to is get the best deal you can on a house you really want.

‹ Buying at the courthouse auction FHA 203k Rehabilitation Loan ›
Congrats and great advice.
Submitted by sdrealtor on October 9, 2009 - 7:21am.

Congrats and great advice. Many people dont realize how tough it is to find a house you really like. It sounds like you did.

Congrats and welcome to the
Submitted by AN on October 9, 2009 - 8:41am.

Congrats and welcome to the dark side :-).

congrats pem.
Submitted by SD Realtor on October 9, 2009 - 5:13pm.

congrats pem.

congrats pem!! I am just
Submitted by temeculaguy on October 9, 2009 - 6:55pm.

congrats pem!! I am just curious, what made you want to come back or what is it that you dislike about NC. I have never been there, but of the places on the East Coast, it's seems to be one of the up and comers. NFL and NBA both put expansion teams there and I have it on my bucket list of places to visit. It's location seems to be south enough to keep it from being too cold and North enough to keep it from too hot. If you tell me it's humid, then I'll understand.

It's just a curiosity, I've had many aquantainces over the years move to other states and return within a few years. Most cite their inablity to tolerate the cold of the northeast or the rockies, some couldn't handle the humidity of the south, some cited idealogical isolation or economics of the heartland. But of those that have gone to North Carolina, none have retuned, so I guess I hold it in higher esteem than some other places based on those water cooler conversations.

Thanks TG and
Submitted by pemeliza on October 9, 2009 - 7:50pm.

Thanks TG and others.

"congrats pem!! I am just curious, what made you want to come back?"

One word: family!

We just had a little one and it sucks being so far from GP's, cousins, etc.

NC is indeed very nice. The downsides are mosquitos and humidity.

If our family was on the east coast, we would not be coming back.

good call pem, you will never
Submitted by temeculaguy on October 10, 2009 - 1:05am.

good call pem, you will never be subject to the gyrations of the market with fundamentals like that. In 15 or 20 years you will be convinced that it was the best decision of your life. While I've grown to love my little patch of earth on the planet, the reason for being here and the reason I stay is the same. Having your children grow up being watched after school by their grandma, or having their grandpas offering what they think is expert advice at every soccer or football game, can't be measured in dollars, it's priceless. A lot of people don't have family members that are reliable, alive, unselfish or a good influence, if you've got them, abuse the hell out of it. Two pieces of advice from someone who has been there, 1) never utter the words "they are my kids, let me raise them" (cause I didn't mean it and I wish and hadn't said it). 2) F*&K the books on raising kids, let the grandparents spoil the hell out of them, let grandma give them too much candy and let grandpa allow them to drive his car on his lap in some empty parking lot when they are twelve or light fireworks on the fourth of july.

Enjoy your home and your family!

Always love your posts, TG,
Submitted by CA renter on October 10, 2009 - 1:40am.

Always love your posts, TG, and agree with the advice regarding the GPs. It's not always easy, but the kids' relationships with their GPs is far more important than generational "control" issues.

Glad you asked pem about the relocation, because that was the first question that popped up in my mind. If we ever had to leave California, NC is high on our list.
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Pemeliza,

Congratulations on your new home! :)

You made some good decisions regarding your seach, and now you can finally settle down in your home with your family. Good points you've made there. Hope you enjoy it for many decades to come!