My nice quiet neighborhood…It’s not far from a main street, but in my garden I can hear the birds: hummingbirds diving and chirping, mockingbirds performing musical acrobatics and tiny finches, peeping and hopping through the trees like Disney wind-up toys. I should say, “Hear the birds again.” Three years ago, my neighbor up the back hill decided to rebuild; one wall remained. The pool was also to be retiled. First came demolition equipment. (Hammers, crowbars, saws.) Cement was removed. (Jackhammers, tile saws.) KA-THUNK, into the dumpster. One full year (tile saws, nail guns, drills) and his lovely house was completed. The dumpster moved – next door! That back yard received French drains (backhoe, jackhammers) and stone walls (tile saws). In 2007, my neighbor across the street remodeled inside (dumpster, tile saws, drills). Last summer I hit the trifecta: That neighbor rebuilt her back yard (cement trucks, jackhammers, saws); next to her, they gutted the house (dumpster, tile saws, drills); and my neighbor to the west redid her kitchen (saws, drills). NOTE: Anyone nearby considering remodeling, one word: fugetaboutit. Home (not so) sweet home… “Guess what? We bought a house in Spring Valley!” our friends announced proudly. Greg and I raised eyebrows to each other. How could this be? They were self-employed and always seemed to be short of money. “Our mortgage guy says it will cost the same each month as our rent – he says we can do it.” For two years they did do it, adding $4,000 in landscaping in their spare time. And then the mortgage reset. Instead of $2,000 a month, they needed $3,300. Meanwhile, their work – along with their income and the value of the house – slid south. Last summer they lost the house. Were they upset? “We’re renting a bigger place for only $1,900,” he said, obviously relieved. “And when something goes wrong, we call the landlord.” Another set of friends, also self-employed, refinanced their home. With (gulp) Countrywide. They bought equipment for their business. And bingo! Their mortgage reset. They’re desperately trying to rework the loan to save the house they’ve owned and improved for 10 years. It’s one thing to read statistics. So many foreclosures, so many people behind in payments. But it’s painful to watch friends – good, hard-working people who in better times created employment for others – struggling. On the other hand…Both of my kids are house-hunting. With prices so low, now they can afford to look.
