Our friends are tackling ambitious projects around their houses; installing flooring, building decks, ripping out walls, remodeling bathrooms, etc.  In a way, I’m impressed by the knowledge, planning, and do-it-yourself-enthusiasm these projects require.  But in another, much more powerful way, it just doesn’t sound like that much fun.

I’m not handy.  Never have been, probably never will be.  I had every opportunity to learn — I mean Dad is quite the handyman.  He had every tool imaginable, and used them to remodel the house, fix cars and lawnmowers and sprinkler-systems, and even build a cabin in the mountains.  I didn’t mind helping, but would have had no idea where to start if I was on my own.  You would think I’d have picked up at least something through pure osmosis, but not so much.  Sometimes I think Mechanical Engineer Bryn is the daughter he never had.

So it should come as no surprise that when it comes to home improvement, I haven’t initiated much work.  Plus, it’s tough to find motivation to invest in big capital improvements when your home definitely more than qualifies as “good enough”, and you’re $150k underwater.

That said, I have undertaken a number of home improvement projects even a not-so-handyman could finish.  They are laughably small, and I’m pretty proud of myself, so please enjoy:

Hose Rack (2 screws, 1 nail)

Bike Rack Hanger (1 nail)

Chin-Up Bar (4 screws)

Bird Spikes (2 pieces of floss)

Coat Rack (4 screws)

Beyond that, I’ve installed some weather stripping (no tools), and some towel hooks (2 screws).  We’ve also done some painting, hung a mantle and some shelves, and had laminate floors installed by a contractor.  And Bryn Macgyver-ed some mouse-proofing for the kitchen.  But that’s about it.

I’d like to think the time not spent at Home Depot was put toward something productive, but we probably just wasted it blogging.

-Nick

Related posts:

1. Softball Champs Share Tweet Team Dunder Mifflin took home the Spring title...

Related posts brought to you by Yet Another Related Posts Plugin.

The one good thing about the bursting of the real estate bubble is that our property taxes are way down.  Our tax assessed value this year is less than half of what it was 3 years ago.

I think it’s best to stay positive.  We may be six figures underwater, but at least we’re saving a couple hundred bucks a month in property taxes!

-Nick

No related posts.

Related posts brought to you by Yet Another Related Posts Plugin.

Obviously no one can say for sure, but there are three factors at play that could put downward pressure on property values in the near term.

1. Supply. Nationwide, lenders are sitting on a backlog of approximately 1 million foreclosed homes.  Under pressure from Uncle Sam, and in the interest of minimizing their own losses, they’ve only been releasing a few at a time.  As a result, the current supply of for-sale homes is incredibly (and artificially) low.  If this huge volume of foreclosures were to somehow break loose and flood the market, prices would fall sharply.

2. Demand. For the past year, the government has been artificially inflating demand with low-down payment loans and generous tax credits.  The tax credit offer expires April 30th.  Without that incentive, demand will drop and prices could fall.  In the car business, this is known as “incentive hangover;” you might sell a lot of cars during “cash for clunkers” or “employee pricing,” but the next few months are going to be rough.  Will they let it expire, or extend it again?

3. The Price of Money.  Interest rates remain near historic lows.  Any increase in interest rate reduces the borrowing power of would-be buyers.  On a $300,000 loan, a 1% increase in interest rate can raise the cost by around $200 per month, which obviously limits how much house potential buyers can afford.  Many so-called experts think that interest rates will rise in the near term, pushing prices lower.  Of course, only cash buyers benefit from an interest-rate-increase-caused price drop.  For everyone else, the sticker price may be lower, but the carrying cost remains the same.

-Nick

No related posts.

Related posts brought to you by Yet Another Related Posts Plugin.