Saturday, April 13, 2013

How To Pay For A Taichung Condo


3-11-13 12:00pm Mon. (*2)

      The law says we must give 10% of the price of the condominium in cash to start the deal. She agreed to sell for 5.65 million NT ($195,000us) which means we need to give her 5.65 thousand NT ($19,500us) as soon as possible. Leona transferred $70,000 from out home equity loan to our checking account which is the account she used to transfer money to our (technically ‘her’) Cathay Bank Account in Taiwan. This evening I will call the assistant manager at TD Bank in Brooklyn and hopefully she will be able to initiate a transfer of $70,000 without having to go back in person to do it. We will need a total of 30% down payment for the mortgage here, when, we’re not sure, but we may as well transfer all the money we’d need at one time. Leona’s brother is loaning us 150,000NT ($5,172us) and will bring the cash in half an hour. Jenny’s real estate agency (U-Trust) is loaning us the remaining $14,328us until we can re-pay them from the bank transfer from Brooklyn in, perhaps, four days. We will meet the owner tonight at 8:30pm to sign the deal.

Getting Excited About Our New Home


3-11-13 6:18am Mon. (1)
      We haven’t even closed the deal yet for the fourth floor condominium on Shui-Jing Street and already I am looking for a Jacuzzi, juke box, and outdoor furniture. Leona and I went to the apartment again with Jenny who thinks it’s great at a great price. She took a lot of photos and talked with Leona about improvements and problems. For example, the large living room could be separated from the dining area by a sliding partition which would save money in air-conditioning. The air-conditioning unit in the living room wouldn’t have to block the window space so we could have more light come in. The office/library could be air-conditioned despite the window being inside the enclosed patio by running a line to a unit on the outside area. Before we start buying anything we have to have our deal bargained by Jenny, accepted by the owner, the property appraised and mortgage approved by the bank here; we would use the home –equity money from TD bank only for the down-payment since a mortgage here is less interest than the loan from Brooklyn. The condo would initially be under Leona’s name to save paperwork and government approval (Leona’s a citizen, I’m not) but my name would be added to the ownership in a petition allowed for co-ownership

Anti-Nuclear March

3-10-13
At Leona’s suggestion, believe it or not, we walked in an anti-nuclear march on the Westside yesterday. It was another surprising development in our lives here. I have wanted to get more involved and Leona heard me. She kept saying how it wasn’t political but an action for all the people of Taiwan, especially after the tsunami disaster at the Fukoshima nuclear power plant a few years ago. Taiwan has three reactors and is about to complete the fourth and put it on line. Our 5.4 earthquake last week is an example of the reasons why nuclear energy in Taiwan isn’t a good idea for the people’s safety though, like other places in the world, the ruling class wants it to keep their investments tight. Leona rode us on the scooter to a staging point and we walked with perhaps 20,000 other people down the service road of Taichung Port Road to the new City Hall where there was a concert and rally planned for 4:30pm. We left before the rally and walked back to the staging area to get the scooter and ride home. I was going to make chicken Marsala with portabella mushrooms for dinner, which is what I did.

How to Get Money For The New Home


3-10-13 6:32am Sun. (1)

      Everyone is telling Leona to get this condominium unit as fast as possible before there are other bidders. Jenny has been in touch with the owner who said her asking price is 5.8 million NT. She is a small investor who doesn’t want to make a killing on this unit so we can get it for a lower price than the real estate agency would have us pay. Apparently, you don’t always have to have an exclusive contract with an agency; Jenny can act as our real estate broker and do all the bargaining and paper work with the owner directly. Leona and I only need a 50,000NT ($1,734us) bank check to give to the owner to tell her we are sincere about wanting the apartment. Not that she has to sell it to us, but that is why it is important to be fast and first.

 Last evening, Leona too out cash from the 7-11 ATM from four TD and Capital One account. In addition, her brother, Shih-Dong, went to his bank and took out cash to give Leona to make up the difference. I called TD bank on the phone to make sure we won’t be blocked from making other withdrawals this week. I was told we are okay to take out up to $762us with a provision for $1,000 if we call in. I was also told we could have a money transfer from Brooklyn by calling our branch directly and speaking with the bank manager or assistant. Since we have established transfer actions, we might not have to go back in person to initiate another. The manager of the 2700 CIA TD Bank is John Maccarelli, the asst. is Shpresa Nesim, the phone number is 718-616-2200 and the fax number is 718-616-2202. We still have $170,000 left on that home equity loan we took out and $60,000 in TD and Capital One checking accounts combined. We don’t want to use the home equity loan from Brooklyn though; it has a 2.7% interest while a mortgage here would have a less than 1% rate with a discount for first time buyers. If we can leave the house in Brooklyn for now, not use the home equity loan, and pay for our new home with my salary from American Eagle, pension, and later, social security checks, that would be good.

      I did the I Ching last night. It was hexagram #2, The Receptive, with two moving lines that didn’t figure. Sublime success! All of this seems smooth and comfortable though I know it is exciting; it just doesn’t feel frazzled. Leona is very happy that she is getting a bargain for such a large place in the neighborhood of our choice. I am happy, too. Jenny and Shih-Dong acre it is a great price for that size property in Beitun near Dong-Shan Road.

Did We Find Our New Home??? Maybe


A noisy motorcyclist just gunned his machine up the street below, making enough noise to wake someone up. Living on a side street where these assholes can’t make a racket is one goal in moving to a permanent home in Taichung. It has been a priority in assessing the nine units we have seen so far. The second priority has been assessing the mosquito annoyance. It is my conclusion that it is quieter and there are fewer mosquitoes at units on higher floors. At the two units we saw yesterday, the first was on the 8th floor and on a quiet lane. The second was on the fourth floor off an industrial two lane road. Both were behind a field of bamboo and weeds and an open sewer, a favorite breeding spot for mosquitoes!. Leona fell in love with the second one and didn’t like the first! I like the second one, too. She is ready to go back to American to transfer funds for a down payment!

Half of the 73 ping of the 22 year-old condo on the fourth floor of the eight floor building was outdoors on two enormous patios. One patio has a corrugated steel roof and soundproof sealed windows. It would be perfect for a hothouse and Jacuzzi bathtub and would hold a pool table or ping-pong table comfortably if it weren’t going to be so hot and steamy in it in the summer. It must be about 40’x20’. The other patio is uncovered with a four foot high tiled cement ledge punctuated by every six inches by yellow vertical one-inch wide wooden sticks of varying lengths glued or hammered into the ledge making the ledge a half foot higher and cat-proof. That patio is also about 40’x20’. On that patio we could put a barbeque and picnic table and plants.

You enter the unit through the living room. The ceiling in the living room has crown molding around the perimeter and an elliptical medallion over the swinging area above the entrance door. The room is 20’x13’ with a 9’ ceiling. There is a 10’x4’ balcony on the far right side. The balcony is in the courtyard of building on a right angle to a neighbor’s balcony. You can look into his window on the left a few feet from our balcony. To the left side of the entrance there would be a dining area. The ceiling has a large 4’ diameter inverted circular medallion with a chandelier hanging from its center. To the left of the dining area there is a Japanese tea room (!) complete with 2’ high wooden floors. The 10’x10’ room has a window on the patio and sliding wooden doors facing the dining area. To the right of the Japanese tea room (perhaps a guest or reading room to us) there is a 4’ wide 6’ long hallway. Immediately to the right off the hallway is an 8’x6’ bathroom with sink, toilet and shower. Beyond the bathroom, to the right, there is a 12’x10’ room with a 2” raised wooden floor; this would be our office/library. To the left of the bathroom down the short hall is the master bedroom which includes another private bathroom to its left with a shower, sink, and toilet. There is a window in the bathroom on the open patio between the window from the Japanese tea room and the large sliding doors in the master bedroom that open on to the outdoor patio. The master bedroom is about 15’x13’ with large built in closets to the right. Actually, there is a built in bed baseboard, night tables, and vanity, too, which we would probably replace.

Going back to the main entrance in the living room, on the right of the dining area, there’s the kitchen. The kitchen is small and long, perhaps 10’x4’. There is a two burner stove and a sink with a chip-wood counter and a space for a refrigerator. The kitchen would have to be remodeled. There is a long flexible aluminum flue that extends from over the range along the wall beyond the kitchen, passed a 6’x4’ area for a washing machine and through the enclosed patio and out the patio window. The flue must be about 20’ long! There’s also an exhaust pipe for the carbon monoxide from the water heater that is located in the washing room area that goes out that same window. The price for all this is 6.4 million NT, about $220,000us. Leona says she can bargain it between 5.8 ($200,000) and 5.5($180,000.) Jenny, her friend, will be our agent and is asking for 1% commission instead of the usual 2%. By the way, it also includes the price for an indoor garage spot under the building, a spot that is on the bottom slot of an electrical car lift! The grounds in the courtyard are small but landscaped. There is one elevator up a fight of seven steps.

On the outside of the inconspicuous condominium a block of Dong-Shan road on Shu-Jing Street, just down the block from the chow-tofu place where we always eat is not a very pretty picture. As is so often the case in Taiwan, the condominium is across the street from some factory warehouses with a forklift or two plying the winding two lane two-way street and some wooded bamboo area behind it.. To the south, it winds across a small wash and into a nice area of new million dollar concrete homes. Leona’s brother’s building is not more than a mile away. To the north, a block away, is all the shopping and restaurants we like on Dong-Shan Road. It would be convenient to ride the bicycle to American Eagle in the west or along the Han River winding north and south. The entrance to the building is on a lane which is ugly in front of the building with a weed-strewn vacant lot in front of a few ugly half-painted three-story buildings, the same buildings we would look out to the north fifty feet away from the open patio. We would see those buildings standing up on the patio, unless we are sitting on chairs, in which case, 80% of the landscape off the open patio would be sky. If you look east down from the enclosed patio, you can see the small one floor warehouses but if you look up and out, there is a nice green bamboo grove with some nice new three story private homes and the first condominium we say earlier yesterday morning. Beyond that, a few miles away, is the mountain range. On the first floor of the condo, on the corner, is an ugly auto/cycle repair shop with old vehicles and tires strewn about. The entrance to the condo has a doorman twelve hours (8am to 8pm) and a pass the rest of the time. There is an ugly meeting room which you pass through before you turn left to the short flight of stairs to the elevator to out unit. The stairway to the basement garage is on the left in the courtyard just beyond a small pool with a dozen large fish. I would have to carry my bicycle up those steps to get into the elevator or perhaps leave it outside near the fish pond chained to something, as a few other residents have done. The hall outside our refurbished entrance door has a stairway around the elevator which may also be a place I could chain up my bike, though it would be a hazard in a fire. Nevertheless our one other fourth floor neighbor has shoes and a bicycle on their side of the small 10x4’ hall. Our unit is one of two units that benefits from such large patios because of the construction of the building that has extra room on the first to third floors.


Looking for a new home


3-8-13 6:38am Fri. (1)

      We went to see three more condominium units yesterday, brought there by my new Tuesday evening student, Williams. Actually he was one of our real estate agents who asked me to tutor him and I invited to join the class at the Beverly. The first place was on the eleventh floor of a new building along the Han River where it curves west at the little temple on Shu-Jing Street, 8.8 million for 29 private ping, another 32 public ping. You have to buy both when you buy a condo unit in Taiwan! The views were nice, just at the slink of the Han, and the interior decorating of closets and built in cabinets was part of the deal. We both felt it was too small. The second place we saw was on the fourteenth floor of a 22 year-old building on the other side of the Taiwan railroad tracks on Tai-Yuan Road. For 6.8 million, the size was 38 ping with a interior decorated built Japanese-style dining room. It was noisier than our Beverly unit on the same road but even worse; right where the cars and cycles come out from the underpass, across the street from the construction of the new overhead train, and soon to be started demolition of the underpass to create a flat four lane continuation of Tai-Yuan Road up and passed the Beverly with Sze-Chi ambulance sirens and big-shot Taiwanese men on their noisy motorcycles and broken scooters.

      The third place was the best of three. It was a 32 ping unit on the 11th floor of another 22 year-old building up Beitun Road passed Song-Zhu Road on the other side of the tracks. It was in a quiet neighborhood with no open stores for a few blocks. The entrance was onto a narrow balcony in the building courtyard. You re-enter the building into a narrow 20’x10’ living room/dining area. The kitchen, north-facing 10’x6’, has a space for a refrigerator that can fit nowhere else. The balcony off the kitchen is only 2’x6’; enough for only a washer and little clothes hanging space. There is a 10’x10’ room to the right of the kitchen which could be an office. Halfway through the living room, to the right as you walk in, are two windowless bathrooms, one supposedly a private bathroom for the 12’x12’ master bedroom beyond it on the north-face in line with the office and kitchen. The other bathroom, supposedly public, is before the courtyard facing guest room which is almost the same size as the master bedroom. The asking price is 6.2 million.

      For the sake of computation of conversion, 3 million NT is about $100,000us.

      Of the seven units we have seen so far, our favorite is still the 5.8 million 32 ping unit on the third floor off Dong-Shan Road passed Shu-Jing Road. We heard that there is another interested party. We will probably lose the apartment to them if they want it because Leona is not ready to put money down. I am deferring to her.

 Even if I think the unit is good, I can’t force a buy without Leona into it. She has passed on a few good chances in the past five years including the Beverly in which we now rent. She may blame me for not buying when the prices were lower then but she has no one to blame but herself.

Today we are going to be shown two more units on this side of the river near Dong-Shan road; we rode past them last evening on our way back from the night market. One is on the eleventh floor, one is on the fourth. Both are within a block or two of Dong-Shan Road’s shopping area not far from the 3rd floor unit we like.

A Trip to Taipei

3-3-13
Yesterday, the weather in Taipei was wonderful and we had a nice day. After we arrived at Taipei Station, we transferred from the HSR to the Taipei MRT and went to Gong-guan station near Taiwan University for lunch at the Thai restaurant there. Before lunch, I had a seen a street sign that said ‘Taipei Water Park’ and I asked Leona about it. She told me it was a bunch of old buildings in a park and there were water rides for children, too. I was curious and we decided to go there after lunch since it was a short distance away. It turns out the area was the original Taipei Water Works purification plant since 1908 and closed in the ‘70’s. The structure housing the filtration pipes for the water from the Sin-dian River is a beautiful Baroque brown building that you would never guess housed the pipes and switches and gages and valves that it does. We had fun walking around the grounds as well in cool dry Taipei.

 

      After we left the park, we walked back to the street with the Tai restaurant to visit a pet store that had a scratching board for the cats. Enough of dragging around the carry-on luggage, we got back on the MRT and took it to Ding-hao where our hotel was. We rested there for a few hours and then went out to meet Leona’s friend William for dinner. The restaurant he was going to bring us to was closing having lost their lease so I suggested we go to “Amigo,” a Mexican style restaurant I saw along the way. We treated William to dinner this time. After dinner we walked along Zheng-xiao Road and said goodbye. Then we went to the Eslite Bookstore on Dun-hua South Road. We browsed a while and I got two books; The Prophet by Kahlil Gibran and Debt: The First 5,000 Years by my old Wobbly friend, David Graeber.

 Graeber, who is credited with naming the 99% of Occupy Wall Street, was signed up by me to the IWW NYC GMB when I was a delegate. I had to buy his book. It made me think of writing my own book about my Wobbly experiences. I may compile information on a blog and go from there. Maybe not. Very painful.

After we left Eslite, we took a walk in the little streets behind Zheng-xiao Road and found an empty lounge bar called “Live Music & Restaurant.” With only a few people, some of whom sang karaoke songs, I had rum and cola and Leona had a tequila sunrise. We sat and chatted and went back to the hotel. We were going up to Tan-shui today until we got the call from her brother. Her father was ill and we had to go home.