Housing lottery discussions (#1) (weather, worth, bedroom)

[Jdvjess]

Just wanted to update everyone on the process having just been approved for our mortgage at 75% and closing this week! Financing is indeed now up to 75% and although we didn't get a great rate there is always the option of refinancing down the road. Everyone in this process has been so helpful from the credit union to allocations and the only advice I would give is to be prepared because everything does move pretty quickly. From the time we were asked to see apartments (we were 12th on a list of 7 apartments and ended up having a choice of 2 apartments) in the beginning of June to our closing this week only a month and a half has passed! This forum has been extremely helpful in preparing ourselves in what to expect so I definitely would like to pay it forward and am happy to comment on any questions if I can.

[eduronyc]

Jdvjess - Congrats !!! and thanks for being so cool to keep sharing about your experience !! - There is lot of good vibe on this forum.

[Kefir King]

Jdvjess,

What is the current "buy-in" price on a 1 bedroom?
(Sorry if this was mentioned in the earlier 31 pages.)

Everyone I know who lives there has been there since The Flood so they all paid near nada.

[mrspeel77]

That is Awesome jdvjess. Congrats and thanks for keeping us informed.

[Jdvjess]

The current price for the 3 room apartments are $79k, the 3 1/2 room apartments (larger kitchens) are $92k. Each apartment differed slightly in monthly carrying charges.

[Kefir King]

Thank you, jess

[lstacy22]

Congrats Jdvjess! Welcome to Penn South!

[hkcg]

Congratulations! And thank you for the information. Enjoy your new apartment!

[SoontobePS]

Hi All, Does anyone know what's going on with the Waiting List. They originally said they would update it every 3 mos. Last time it was updated was over 4 months ago (3/13/2015). I'd really like to keep track of how fast the 1 BR with terrace list is going so I have an idea of how many years I have to wait. If anyone has spoken with them about the delay in updating the list can you please post. Thanks!

[hkcg]

Hi All,

I think the wait list update may be delayed due to what mrspeel77 also said in an earlier post: they are processing so many new people that the wait list update is a secondary priority. It makes sense because they want to provide an accurate number, even though it could take months or years before we are called.

I have a question for people who have recently bought about looking at the actual apartments. Do you look with a Penn South employee, or do they just give you the keys and say have a look? Can you take pictures?Are there other wait-listers looking with you? I can't help but picture some sort of Penn South Hunger Games .

Also, some people have mentioned another wait-list after you look. I guess it depends on where you are on the original wait list?

Thanks for any answers you can provide.

hkcg