Doug Schmidt | Windsor Star
First-time home buyer Jude Malott has plenty of prep work left before move-in date — like ripping out the no-longer-groovy shag carpeting — but gone are the sleepless nights and high anxiety of hunting for a starter home in the midst of a crazy-hot real estate market.
He’s now lord of the manor, king of his own urban castle, no longer paying rent for someone else’s property.
“It was incredibly stressful — I lost a lot of sleep,” he said of the search.
Working with an agent and recognizing the local housing market has been on fire the past several years, Malott’s offer on the first address that drew his interest was a whopping $100,000 over the asking price — but he still lost out to someone else’s even higher bid.
And it only got worse. (more…)