A Housing Update, July 2009

(For those playing along at home, the last update was the May 22 Housing Update.)

A lot has happened in a little amount of time, but here are the big updates and what drove us to make them:

• We've decided to stop working with ACORN, at least for the time being.
• We've reconnected with Rachel Melniker at Corcoran.
• We've gotten some helpful advice from a broker at Manhattan Mortgages

Stopping work with ACORN
On June 4th, I met with ACORN with updated paperwork and begun my 2-3 day wait for a Pre-Qual from the bank. By June 29th, I still hadn't heard back, and they had stopped returning my calls altogether. With help (see next paragraph) I was able to pick up the pre-qual on July 1st. The numbers were nothing in line with what I'd been told, and the authenticity of the letter itself appears to lack credibility. While there's been no official break, our relationship with ACORN may have outlived its usefulness (or if nothing else, our patience).

My intake package was delivered on April 4th, 2009, stretching a 10-15 day process to 3 months. There is financial incentive to working with ACORN, but working with someone who doesn't respect your time comes with its own cost: mental and financial. If nothing else, in those 3 months, the mortgage rate has increased about a half point.

Partnering with a Real Estate Agent
Never having bought before, we knew that we were going to need someone on our side to represent us. We had a great experience working briefly with Rachel Melniker last year, and we contacted her again. Within two days of working with her, she'd sent us listings, took us to an open house, made one call to ACORN and got directly connected to our MIA loan councilor, and she did some ACORN research of her own which proved very insightful.

Contacting a Mortgage Broker
When we finally got the pre-qual from ACORN, and it seemed off, Rachel suggested connecting with a Mortgage Broker, if just to get some advice and more accurate numbers. We did make the call, and it was a very smart decision. the broker gave us real numbers, explained why they were what they were, and was very generous with information and answers to our questions. With clearer numbers, we were able to better refine our search which made everything a bit less stressful.

...And compared to ACORN taking 3 months to give us a pre-qual, Beth gave us an estimate in 15 minutes.

What's Different For Us?
When you walk in to ACORN, you take a seat on faded couches and stare at a rat-bait-box across the waiting area. You walk into the back and it's a mob of cubicles and papers, and no one seems especially happy to be there. Comparatively, everyone on the private sector has been helpful, courteous and professional, and with good reason -- they're compensated based on performance. While we might miss out on potential savings at ACORN, we wonder if a transaction would ever take place. Swift action and prompt replies have made our search go from twiddling thumbs for months to looking forward to making an offer on one of a few apartments in the next few weeks.

My dad has an expression, "Never let a poet fix your sink". This comes from some DIY plumbing of his that ended up with a more serious problem, and eventually calling in a professional. We initially thought we could do it alone, you know "save some serious money", but regardless of how much you hear "you can do yourself", there's too much on the line to miss important steps or get hustled by the seller's team.

We could have exciting news in the next few weeks. A real fixer-upper might be in our future -- we couldn't be more excited or more nervous, but we think it's the right move for so many reasons. Stay tuned!

Manhattanhenge 2009

You may remember when Columbia first told you about Manhattanhenge, when the setting sun falls directly inline with the street grid that is New York City. While there are 2 days a year when this magnificent event occurs, in truth, for several days around each set day are also breathtakingly beautiful.

2009's 2nd and last 'henge of the year is July 12th at 8:25pm.

Be sure to check out Hayden Planetariums's page on the phenomenon that is Manhattanhenge to satisfy all of your sun-worshipping curiosities.

What's New in New York City: BurritoVille Reopens!

I think I hear the angels singing in heaven: BurritoVille is open again! At least the one on Water Street is, according to Eater.com. When Columbia first wrote about their closing, we never thought we'd see our old friends again. The wiki on them reports many more will be opening soon:

The Financial District location (36 Water Street) that re-opened on July 6, 2009 is just the first of several planned locations in New York City and throughout the country. In NYC, many of the new locations will be at or near the old stores. (Planned locations are 226 West 23rd Street and 36 Seventh Avenue).

I'm crossing my fingers for the one on West 72nd Street to open again. Pumpkin needs a Vegetarian Sloppy Joe with tofu sour cream! (Or at least her Mama does. ;)

Haaaave you met my friend Alice?

I may have a new love in life (don't worry Columbia). Her name is Alice. She could make my life easier. Let me explain:

Today is the launch of Alice.com. It's a merchandise site, but there are some interesting twists.

• FREE SHIPPING. No matter how much or little you spend.
• Good prices.
• Coupons - not the ones in your coupon binder, but ones you don't even have to search for. The site has connected with manufacturers that offer coupon (extra discounts) on their products.
• They will remind you when you are close to running out of supplies if you want them to.
• $10 0ff of your first purchase. If you order a few items around $10 to try out the service you will be getting them for FREE!
• Budget tracking. Alice will keep track of your purchases for you. If you need a little help with budgeting, Alice can do this for you. (For your household expenses anyway.)
• They have an affiliate program so you can earn money when your friends (or lovely blog readers, ahem =) sign up through your link or referral email. Those you refer also earn $10 site credit when they spend $50.
  
  

I am always intrigued by a service that is willing to deliver items for free to my door. In this city, lugging is a way of life, but one I would rather avoid. Especially with Pumpkin. In the winter. Sludging through slush in 8 layers.

We initially used Amazon.com's subscribe and save service for diapers. It was a decent deal for 7th Generation and we didn't have to think about when to buy them or having to lug them home. When Pumpkin was a newborn with sensitive skin, this was a huge help. But... the cost isn't worth the advantage for us anymore. We are happy enough with Target's store brand diapers and they are not that frustrating to get home now that Pumpkin is bigger (and as Columbia will carry them for me).

Here's how Alice compares with Amazon for 2 products you don't want to haul around NYC:

7th generation Diapers Size 4

Amazon S&S 4 pack w/15% discount: $37.39 (no shipping cost as it's over $25)

Alice: $10.19 per package = $40.76 for 4 (shipping is always free)

Result? Amazon wins!

Iams Proactive Health Dry Cat Food 4lb bag

amazon's 5 pack deal: $47.36

Alice: 8.47 per bag = $42.35 for 5 bags
Result? Alice wins!

So while Alice may not beat amazon on their subscribe and save deals, there does seem to be a savings on other items. And not just in storage space if you don't want to buy the mass quantities to save on shipping from amazon.

Alice will not beat the sales at the chain stores, especially when you can match up the sale with a coupon, but they do have good prices. If you are a "my time is worth more than the money I will save in the hour it takes me to cut out and organize the Sunday coupons" type of person, Alice is definitely the place for you.

After the initial $10 purchase I do not know home much we will use Alice. Every penny counts for us at this point and as I am home with Pumpkin I do have a bit more free time than the average person. Columbia is a champ to lug our groceries and household supplies. Still, in those cold months of slush and bulky clothing, I could see free cat food delivery as a MAJOR perk.

Here are 2 giveaways around the blogosphere for Alice: Sorry, both giveaways have ended.

Northern Cheapskate is giving away 5 $100 gift certificates and all you have to do is enter your info in a form. She also was a beta-tester for Alice and has a 1st hand review of using the site.
Brazen Careerist is giving away 5 $100 gc's to Alice also, but you have to leave a comment telling how you automate your life to make it easier
And if you should want a link to find out more about Alice, please allow us: Alice!

NYC is Safe (Until You're A Victim)

I came across a piece the NY Times put together called the NYC Homicides Map. You can look at murder data mapped out across the city, each grim event appearing as a pinpoint with correlating data (victim/perp age, method used, date, etc). It's not pretty to look at, but it is incredibly informing. If you are willing to understand this as a reality where we live, you might not avoid the data, but rather try to find a use for it. Just as you could get hit crossing the street or end up with a cessna flying into your bedroom, danger can happen anywhere. This data doesn't say that you'll be murdered in one particular area; it just shows where to go to increase your odds.

My immediate application for this map was to help me understanding relative safety of neighborhoods with which I'm less familiar. One such neighborhood is East Harlem, said to be one of the last good deals in Manhattan Real Estate. So we bought in to the hype, and visited an open-house that looked promising. Outside the very charming apartment, my comfort-level was challenged (especially in thinking about my girls), and this was during daylight hours. I thought maybe the map could help inform me: was it really unsafe or just my lack of knowledge of the area?

Neighborhood of the open house:
Each dot represents a murder at that location (Since 2003)


For comparison, I looked at my neighborhood.


While it's true that where we live is very quiet and safe(comparatively speaking), it's affirming to know my sense of discomfort in East Harlem had some grounding in reality.

For the a God's eye view, here's the big picture of NYC:



The map and data is really interesting and slightly disturbing all at the same time. We've already looked at other areas where we are (were?) considering buying and are wondering the following:

1. Will we let this information effect our home-buying decision?
2. Is the "sense of the neighborhood" more meaningful to us than these statistics?
3. Is there any way we can keep our families from finding this map?

Link: NYC Homicides Map [via StreetEasy Talk]