Posted by: greenpinkies | July 17, 2011

Know your local tradesmen, or Locavore!

So, do you know this word, “Locavore”?

Here’s what Wikipedia says, in part; “Local food…is a “collaborative effort to build more locally based, self-reliant food economies…”

In other words, there is a movement to buy food from local growers in an effort to improve efficiency and cut waste and get good quality, known food products.

This applies to and is a major factor in the success of home remodels too.  Learn a few local tradesmen and continue to do business with them. By their own word they will tell you that, once they get to know you and your dealings, they will put more and more priority on your projects.

Ozark Mountain Air and Hanke Brothers Windows agreed to help us out on the Happy Hollow project simply because we had been really regular customers of theirs.

Bob and Ken of Ozark Mountain Air put in our first system ten years ago.  Since then they have been out for maintenance and other small things and have seen my kids grow from pre-teen to young adult. We, in turn, have watched Ken slowly passing the reins to Bob. Now they have the heating and cooling contract on my son’s house as well as now Lauren’s Happy Hollow House. A few more years and they will be watching my grandchildren grow from pre-teen to young adults to start their own house contracts with Ozark Mountain Air…. and, in turn, Bob will be passing the reins to someone else.

What does this stable, grass roots continuum of life gain for a consumer?  First place on the emergency job orders if everyone’s air conditioners go out at once? Or, a really enthusiastic tradesman when it comes to an unusual request?

Try: a sense of community, camaraderie and friendship with our neighbors.

We now understand that this applies more and more to banks and loan operations too.

The Happy Hollow House has no comparables to be found within a 6 mile radius.  Therefore no banks would refinance the house on the secondary market for the low interest rates.  No, the Federal Government loan agencies won’t touch it.  Sure, one local bank was willing to do an ‘in-house’ loan for, perhaps, maybe, sort of, some of the value….at 6-8% (But who wouldn’t be willing to carry a loan at that interest rate!).

So, we went local again…..and found success:  A private investor, who was looking for more that 1.5% on his $100,000.00.  So, both of us benefited as we mortgaged the house to a private benefactor for the next three years at 5%. (added benefit: no closing costs, only an Escrow officer and recording fee).

Maybe in three years there will be comps?

In fact, here we will get on our ‘soap box’ and make a speech:

 There are many houses to be bought out there in Fayetteville.  You know, the older ones, about 30+years old.  (These are the perfect candidates for a remodel, in our opinion).   But, the banks are sitting on the money. It is very hard to qualify for loans.  (On our last refinance with Bank of America last year, I had to submit so much personal paperwork that I thought they were going to ask for my second grade report card to explain why I had gotten an Unsatisfactory on my “Puffy the Penguin” Project!)

But, there is a local resource yet again:  Owner Financing.  Yes, there are older people coming up on retirement living in those 30+ year old houses. They would like to sell them, and they are interested in getting some reasonable interest for their money and they would like a steady income during retirement.

Here again is a ‘win,win’ situation with the right combination of the locavore mentality.  Perhaps we will all develop again an extended family, a community spirit.  Supersized is not always better.

 

 

 

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