the eternal student

We've got a contract on our Farmhouse!

Four generations of the Cole Family:
(top row) Joseph Bown, Mrs. William King (Orrie Cole's daughter), Orrie Cole (bottom) Mrs. Bown, Bertha King, Ella Bown Cole. Picture and text from http://www.boiseschools.org/schools/cole/history.html

Things continue to fall quickly into place. We put in an offer on Saturday but did not hear back until Monday morning as the seller is Mormon. He counteroffered very reasonably and we accepted. Monday morning we met with a lender and easily qualified for the loan. We decided to do an 80/20 loan since we have not sold our house in Atlanta yet. The 80/20 means $225k is at an interest rate of 6.625% and then $55k is at an interest rate of 8.5%. It was about $200 a month cheaper than a 30year fixed because we don't have to pay mortgage insurance. Once we sell our house in Atlanta we pay off the 20% loan and everything is good to go. Anybody have good/bad experiences with an 80/20 loan? We are going to try to rent our house for a year to MissionYear and then try to sell it again next year.

Check out the house complete with pictures and lots history. Apparently there are four types of grape vines on the lot. And who wouldn't want a skeleton key for their house?

Below is an excerpt from the owner of the house on some of its history.

"AS YOU NOTICED ABOVE I AM THE OWNER AGENT OF THIS HOME. OUR FAMILY LIVED IN AND LOVED IT FOR 16 1/2 YEARS. EVERYONE COMING TO VISIT TOLD US THEY FELT LIKE THEY HAD COME HOME. THE HOME IS REGAL, CHARMING, AND ONE OF A KIND. AS WE LIVED IN THE HOME WE LEARNED MORE AND MORE ABOUT ITS HISTORY. ORRIC AND ELLA BOWN COLE BUILT THE HOUSE IN 1895. THEY LIVED THERE WITH THEIR TWO CHILDREN, ORRIC SETH AND LADY. ORIGINALLY IT FACED NORTH AND SAT JUST ABOVE WHERE THE HARRISON (PLAZA SUITE) HOTEL IS LOCATED ON COLE ROAD. MY WIFE WHO GREW UP IN BOISE REMEMBERS SEEING THE HOUSE AS A CHILD. THE HOUSE WAS MOVED TO ITS CURRENT LOCATION IN THE EARLY 1980s. ORRIC AND ELLA OWNED ALL OF THE LAND FOR MILES AROUND. COLE ROAD AND COLE SCHOOL WERE NAMED AFTER THEM. THE FAMILY DONATED THE LAND FOR THE SCHOOL ON THE CONDITION THAT IT REMAINS A PUBLIC SCHOOL. WE LATER LEARNED THAT ELLA WAS THE OLDEST DAUGHTER OF JOSEPH AND TEMPERANCE BOWN WHO OWNED THE HISTORIC SANDSTONE "BOWN HOUSE" THAT NOW SITS ON THE RIVERSIDE ELEMENTARY SCHOOL GROUNDS AND IS OPEN TO SCHOOL AND TOUR GROUPS. WE KNOW THAT WHEN JOSEPH AND TEMPERANCE SOLD THAT HOUSE THEY MOVED NEAR ORRIC AND ELLA BUT DON'T KNOW FOR SURE WHERE. WE HAVE A THREE RING BINDER THAT WE HAVE COMPILED THAT HAS INTERESTING HISTORIES OF THE COLE FAMILY INCLUDING PHOTOGRAPHS OF THE COLE AND BOWN FAMILIES, OBITUARIES, COPIES OF PAGES FROM THE BOOK "HISTORY OF IDAHO" AND COPIES OF PAGES FROM THE IDAHO STATESMAN, A HISTORY OF COLE SCHOOL AND MUCH MORE. THIS BOOK ALONG WITH A SKELETON KEY THAT FITS SOME OF THE DOORS WILL GO WITH THE HOUSE AT THE TIME OF SALE. ANOTHER "FAMOUS" FAMILY THAT LIVED IN THE HOME FOR ABOUT SIX YEARS IS THE ZAMZOW FAMILY. GRANDMA ZAMZOW IS SAID TO HAVE JOGGED DAILY FROM THE HOUSE, DOWN LIBERTY STREET (BEFORE THE FREEWAY) AND OVER TO THEIR STORE ON FAIRVIEW (MAYBE THAT IS WHY SHE LIVED TO BE 102 YEARS OLD!). MY WIFE HAS TALKED TO THE ZAMZOW FAMILY HISTORIAN AND HE TOLD HER THAT THIS HOME WAS GRANDMA ZAMZOWS FAVORITE. THE HOME IS ON A CULDESAC AND WOULD BE A GREAT GATHERING PLACE TO MAKE MEMORIES FOR YOU AND YOUR FAMILY (LIKE OUR PICTURES OF THE KIDS LINED UP ON THE STAIRWAY CHRISTMAS MORNING WAITING TO SEE WHAT SANTA HAD BROUGHT THEM). OUTSIDE THERE ARE LOTS OF PERENIAL FLOWER BEDS TO BRIGHTEN THE YARD, AND FOUR VARIETIES OF GRAPES IE., CONCORD, THOMPSON SEEDLESS, PINK SEEDLESS EATING GRAPE, AND A PINK CHAMPAGNE GRAPE THAT WE USED FOR MAKING JELLY. THE PRIVATE BACKYARD IS PERFECT FOR YOUR GATHERING WITH FAMILY OR FRIENDS. THE OLD WORLD WARMTH AND CHARM OF THE HOME HAS BEEN PRESERVED AS THE COMPLETE INTERIOR REFURBISH WAS COMPLETED. IT IS FRESH, CLEAN, AND NEW. WITH ALMOST 2,400 SQ. FT. THERE IS PLENTY OF ROOM FOR A LARGE FAMILY, OR FOR SOMEONE WHO WILL APPRECIATE THIS ONE-OF-A-KIND HOME. AS YOU CAN TELL, WE LOVED LIVING IN THIS HOME AND THINK YOU WILL TOO!" VISIT www.pickettauctions.com For Buyers Registration and information.