We Bought a House in 2007

Exactly 16 years ago today my husband, Jason, and I were in contract on our first house. We were so excited! We were so YOUNG! But wow! We felt so grown up and like we made a huge step, at the tender age of 22 and 23 years. 

Little did we know that just about one year later, the crash of 2008 would happen, devastating not only the real estate market but the entire economy. Our little neighborhood was hit hard, and seemingly overnight we lost $100,000 in value. Our grown up decision suddenly brought lots of grown up things I don't know I was prepared for, like the countless sleepless nights, piecing things together financially, long work hours, and subsisting on what I call the "Dave Ramsey Diet" of beans and rice and rice and beans with a side of Top Ramen. 

In all honesty, we probably shouldn't have had a mortgage loan granted to us. We were SO house broke that we barely had room in our budget to even have a life. And on top of things, it was a peach of a loan: an 80/20 ARM with a hard/soft prepayment penalty (read: we were STUCK), backed by a private equity firm that went under in the crash. We had no recourse other than to pay our mortgage, or walk away. 

​We stayed. We paid our mortgage. We slept...sort of. 

​It took us almost 10 years to come out on the other side of that event. Finally, when we were able to sell and make enough to move, we did it. Now we're in a different house that fits our needs so much better. I look back at those years and think...jeeze...we made it through THAT. 

​Our experience so early in our adult lives really painted my perspective of how I view my role as a Real Estate agent. Being an advisor with those circumstances in my rearview gives me perspective into what a homebuyer feels because I have been there. While those years were so hard, I don't regret that we bought that house. 

​“The comfortable road will never lead you to the person you are destined to be in your life, never.” -Ed Mylett  

Thanks for reading!
-Jennifer Schurter