Brooklyn? No way. Yes way.

As I said before I heart Astoria and it was a shock to think I might have to leave my beloved neighborhood. But I had to cast a wider net because my budget just would not accomodate what I wanted. I looked up a slew of different neighborhoods. Gasp! Even in Brooklyn!

First up Sunset Park, Brooklyn. I was reading a design blog/site and came upon a girl who was living in her first apartment there. The pics of her apt were just gorgeous and of course I had to take a look. I looked up a couple of condos on Craigslist and off I went.

Unfortunately, they were both duds. Kitchen appliances in black and just inefficient layouts. And it was quite a commute. Again, not for me.

Then began the interrogations. "Where do you live?" was inevitably my first question to anyone and everyone. I had to know as much as I could about every habitable neighborhood. I found out a co-worker lived in Williamsburg and I began some internet searches there. Since the prices were too out there for me I extended into Ridgewood and East Williamsburg. The condo in Ridgewood was decent but I felt their sq. ftage was inaccurate because it accounted for strange cubby hole spaces in the ceiling. Those spaces were not liveable so I really felt it could not be counted.

In the meantime an article on the best places to live in NY came out. I can't recall at the moment where it was- perhaps Time Out NY- but I will post the link if I find it. It listed Sunnyside so I did some searching there. Unfortunately, most of queens is co-op land. (For that matter, so is most of the city.) I was not looking for a co-op for few different reasons.

1- Requires 20% or more down payment

2- Rigorous screening process that is annoying and takes FOREVER

3- Resale value can be lower

A friend suggested Jackson Heights and sent me a link for a $500k co-op. Sometimes I wonder about my friend. Does she even know me? JK

My search then continued in East Williamsburg. I went to see a really affordable 2BR place off (way off) of the Morgan L stop. Oh the horror! The street was loud and so NOT me. It was next door to some food shops and that is a big no-no for me.

I began to think Brooklyn was not for me and decided to take a break from it.

My mom convinced me to look into the city- Morningside Heights. I hooked up with a broker and saw several places. I really didn't think the neighborhood was for me.

By this time I was really disheartened. AGAIN.

I had three weeks left till deadline!

The Beginning- First Time Home Buyer Tax Credit

Hello. I live in Astoria, Queens NYC. I love it here. I have lived in my 2bdrm1bth apartment in Astoria for over 10 years and I am not willing to move unless I buy my own place. I just have too much stuff and hate moving that much.

My attempt to buy my first home was sparked by the lure of the first time home buyer credit. Unfortunately, I missed the deadline and now I am looking without the advantage of an $8,000 credit. My budget is seriously tight. Seriously. And I had a few non-negotiable requirements- FHA financing, washer/dryer hookups with exhaust vent, at least 600 sq ft, great light- preferably southern exposure, above ground level unit (safety reasons) and a workable layout. Easy, right?

Here's the beginning of the story. My search started in Astoria, January 2010. A new condo building was being built right around where I live and the thought of basically moving my things (lots and lots of things) just across the street was really attractive. It was still being built when I first inquired about it last year so I waited till they were up and running before doing anything. That may have been my first big mistake - but you live and you learn. (this phrase may be peppered throughout this blog.)

I looked at most of the 1bdrm condos in that building priced in the low to mid 300's. This was above my budget but I figured I could negotiate down in the bad economy. I made offers on two different units. The first one I decided against when I realized they were expecting more than I was willing to pay. The second one I was outbid by a different buyer.

After my first offer was countered at too high a price I started to look elsewhere in Astoria. I only had two months before the home buyer credit expired in April and I needed to get myself into gear. I was looking to see comparables and to see if there was something better out there. I went to a dozen or so open houses and made contact with a couple brokers.

I was really excited to finally find a condo that I really liked. It was named after a desert, which I thought was interesting I guess. Anyway this desert condo was a nice (of course still small) size and had many nice amenities. A pretty good view, 660 sq ft (biggest I'd seen thus far), Jacuzzi tub, heated floor in the bathroom, floor to ceiling windows in LR and BR, window in the kitchen, recessed lighting in kitchen an LR, ceiling light in BR and bthrm, sizable cabinet space and stainless steel appliances. The big negative was location, the nearest markets and main town areas were quite a walk. I made a low offer and was countered with a decent offer about $15k above mine. Of course I had to push and re-counter with an amount in between the two.

This is where it all went wacky. The broker did not get back to me for a week and I had no idea what was going on. So about 2 weeks later he informs me that the owner is no longer selling the units. Seriously???

Now I only had a month left to find something that worked. Back to the original building. I made my second offer on a different condo that was a little larger (640 sq ft) than the first one(600 sq ft). It was at a higher asking price but I was willing to pay a little more for the addl sq ft. I felt the layout was worth more. It was all moot as another buyer outbid me anyway.

Now I only had about two weeks before the deadline and I had resigned myself to not buying anything.

What happened next I could NOT believe. I was going to meet up with a few friends at Hell's Gate Social (local bar) and, as I passed the desert condo building, I noticed that there were new signs on it indicating new brokers for the building. OMG! I called the very next morning and found out the owner fired the brokers and was trying to sell the units himself. The original brokers had been feeding me a line of bull$#*% and screwing the owner. We agreed to a very good price and was trying to sign the contract before the deadline. I didn't make it and I consigned myself to missing the $8k. Blargh! But the price was good enought that I was willing to continue with it. I was going through the contract with my attorney when the owner informs us that he found buyers willing to pay more. UGH! Argh! Blimey!

I have to admit we were reviewing the contract for more than a week because of financing issues with the building. (It was not approved for FHA as of yet.) It was in that interim the owner had contacted several other brokers and was actively selling the units at higher prices. The new offer he got was $35k over mine, or so he claimed. Whatever, that ended that. I had to put it behind me. Right. Easier said... you get it.

To be continued...