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So here’s what we will be up to once we settle in our new
home in the Boise Idaho area sometime in September 2012. We have
been watching the real estate market there for the past two years. We engaged a agent while there last summer and looked at several homes.
The
inventory of properties has continued to climb as the economy ruminated. Foreclosures and short sales have been numerous. Right now it is bad
for sellers but good for buyers since we are one of the few qualified buyers with
equity to bring to the table.
During my lifetime I have never seen this good a “buyers
market”. Our negotiating position is
powerful, especially since we can be patient. Just now the contractors in Boise
are starting to build new homes once again.
That signals the bottom of the market the area.
One of the tricks with short sales or foreclosures is the
need to wait out the banks, who will do all they can to soak every penny out of
the deal. If we go that route, we can
start negotiating now and still be waiting in six months as we call their bluff
and walk away from the deal several times. You have to good nerves to
do this, as well as a willingness to lose the home if necessary.
Since we are working on buying a retirement home, we have
one simple goal: to be mortgage free. In real estate it takes getting the right help
to maximize your value as you sell and buy.
You want a negotiator who will represent you well. It doesn’t take long to figure out if you are
working with an agent who is interested in your goals or one who is working
both sides of the deal. Choose wisely
and it could mean $1000’s of extra dollars in your pocket when all is said and
done.
Another goal is to live a self sufficient lifestyle.
We are looking for a some acreage where we can have a garden and fruit trees. I
believe in America and do not think we are falling apart as a nation. The
future looks very bright to me. We
choose a self sufficient lifestyle because it is a principle of American individualism and
responsibility.
When confronted with a choice of watching TV or being out in
the garden, I’ll take outside every time.
This will keep us busy doing good things and will
get us in the sun as well providing organic food for our nutrition. It will be
a good way for our grandchildren to learn good work habits as they come to our home
to help with the garden.
A production lifestyle will lend itself to our own sense of
wellbeing. It will allow us to maximize our
financial resources so we can continue to grow our nest egg rather than depleting
it prematurely. We are fortunate to have
several sources of income in retirement. Since I am turning 60 this summer, I would like to avoid starting my Social Security income until I
am at least 66. It is much juicier if
I wait till full federal retirement age.
One focus of my Retirement Freedom Blog will be to share
what we are learning as we progress through this transition to “retirement”. Please let me know if you have suggestions or comments.
