We made an offer on a house

We found a house that met our requirements, and the asking price made sense. It's a short sale - with two Cadillacs in the garage. Indy Mac bank owns the first and second mortgages. The house generated multiple offers, but, being a short sale, any offer had to be accepted by the seller AND the bank.

We made an all-cash offer. Our only contingencies were basic things like: we could do an inspection (only on the house) and we could back out or renegotiate if necessary repairs exceed $40k. We offered a large deposit, increasing the deposit to 30% upon acceptance of our offer. We offered a fast close - less than a month. I thought our offer was as good as a cashier's check. And we offered a tiny bit above asking price.

Well, that was three weeks ago. Last we heard, the bank was still thinking about it. Our offer has technically expired, although we would still proceed with the sale if we hear from the bank, say, tomorrow. I have to admit, I am surprised that the bank would drag their feet when they have a solid offer on the table for a property in Sacramento county, one of the nation's worst housing markets right now. The house, like many Sacramento-area homes purchased in the last several years, is suffering from deferred maintenance. If we buy it, I expect to replace the air conditioner this year - and I hope that it doesn't fail before we get it replaced.

We recently looked at another house, a REO. The house has water damage and mold because the water heater failed, dumping 40 gallons right in the center of the house. It has been vacant so long that rats and birds, at a minimum, are nesting in the attic. I am open to a lot of things, but rats and snakes cross my line. Another house - another REO - is barely salvageable because it sat vacant for so long that scavengers and children have picked it clean. The banks are playing a dangerous game when they repossess a house - hoping that the house will be livable and sellable by the time the bank gets an agent assigned to sell the house. From most of what I have seen on the market, banks are getting hosed on repossessing houses. But, I guess there's something I'm missing, because, at least for Indy Mac, it's worth losing a cash offer at a fair price while they play "don't call us, we'll call you if/when we get around to it."

John Lennon rolls over in his grave

Is It Time to Invade Burma? - TIME: "But we still haven't figured out when to give war a chance."

The Burmese people's only crime is being born in Burma, and, for that, many will die of starvation and preventable diseases while the world waits with food, shelter, and medicine earmarked for the Burmese. But what gives another nation the right to invade another nation? Isn't that a slippery slope that could be used against us - the Swedish could invade America for humanitarian reasons - we have the death penalty and we don't provide universal health care and daycare. The Chinese could invade - we are torturing our people with excessive opportunity and choices. Chavez could invade to deliver heating fuel to our poor. The French could invade on the humanitarian grounds that we cruelly induce our American women to shave their legs and armpits, instead of allowing them to revel in their natural, God-given beauty.

Fact is, lots of countries disagree with each others' values and methods. If we want our independence as a nation, don't we have to honor other nations' independence, too? Even when it really sucks?

An old joke about being Saved

I lived in Louisiana for a few years in the 90s. I worked with a local woman whose sister had just gotten indoor plumbing - all the neighbors came to see it. There are people out in the rural bogs who make their living off insurance checks - their trailers ain't worth nuthin', but every year, when their trailers flood out again, the insurance companies declare the trailer a total loss and pay out 10 or 20 thousand dollars. It ain't much, but it's a livin'. There's an old Louisiana joke about floods and God. This article reminded me of it today: Happy Mother's Day: Woman pregnant with 18th child about a couple who are gonna keep having babies as long as God keeps sending them. The recent news about a family that prayed until their daughter died of diabetes brought it to mind, as well.

So the joke goes, there's a flood out in one of the small bayou towns. The flood waters reach Gautreau's house, rising so fast that Gautreau can't get out. Gautreau, being a good God-fearin' Christian, proceeds to pray like he's never prayed before. The flood waters reach the first floor, then the second. Gautreau manages to climb up on the roof. The flood waters reach the soffits under the roof. Gautreau's friend, Boudreaux comes rowing up in a pirogue, and calls out "Gautreau, Gautreau, lucky I reached you in time! Dis flood's da worst I ever seen. Come, I hep you into da pirogue." Gautreau pauses a moment in his prayers to answer Boudreaux, "Boudreaux, you go on an' git outta here. The lord gon' save me." Boudreaux argues, "No, Gautreau, come on, it's too dangerous, git in da pirogue!" But Gautreau stands firm, "Boudreaux, I'm a good God-fearin' Christian, and I'm tellin' you, the Good Lord is gon' save me. You, however, are the devil's hand-maiden, and you'd best git, cause God ain't gon' save the likes of you." Boudreaux shrugs and sets out on his pirogue.

The flood waters reach the bottom row of roof shingles, and Gautreau prays like he's never prayed before. A rescue helicopter sees Gautreau, and comes to save him. One of the rescuers throws down a ladder, and yells instructions to Gautreau about how to climb the ladder without falling. Gautreau shouts back "Naw, I'm a good God-fearin' Christian, and I don't need to be rescued. The Good Lord above is gon' save me." Gautreau goes back to his praying. The rescuer urges Gautreau to climb the ladder as the flood waters reach the middle of the roof. The rescuer tells Gautreau, "There's no time for that! Climb the ladder, the flood's gonna sweep you away!" But Gautreau stands firm, telling the rescuers to go away so he can get back to his prayin'. Sure enough, the flood waters reach the top of the roof. The rescue copter comes back for another pass, but Gautreau waves them away. The flood waters rise to Gautreau's waist, and the water flow tears Gautreau off his roof. Gautreau drowns.

At the pearly gates, Gautreau meets his maker. Gautreau says, "Well, Lord, I guess it was my time." God answers, "Naw, you just drowned." Gautreau wails, "but Lord, you sent the floods! I prayed and prayed, and awaited your salvation, Lord." God answers, "Gautreau, I sent a boat and a helicopter! What more do you want?!"