Bummer about the water but I'm glad you sold the house!

Rachel, signing a contract and closing on it are two very different matters. Again, we've already had two fall through. Keep your fingers crossed for us that the third time is the charm!

On the bright side, you're defining a huge new income stream called "Retained Earnest Money," right?

Speaking of bright and money, I got my first brand new $5 bill in change today, and thought it was some sort of Monopoly promotion.

On the bright side, you're defining a huge new income stream called "Retained Earnest Money," right?

That would be a "no." The cancellations came before they even made the deposits.

However, on this current one, we already have a $100 option check in hand, so we've got that going for us.

Oh, and I don't think I've seen one of the new fivers. I don't deal in anything smaller than hundreds.

That's cents, of course.

At least you shouldn't have to worry about your water heater loosing its contents all over your house (for a few more years). My previous house was my first, and no one ever bothered to tell me that the life expectancy of a water heater was about 10 years. When it was 16 years old, I came home from a trip to Missouri (where I was long-distance courting the woman who is now my lovely bride) to find three quarters of the ground floor a steaming, sodden mess.

When we built the new place, I made sure the water heater was in the garage and was incredulous at the mere suggestion that it go in the attic, where it's placed in so many of my neighbors' homes.

Makes about as much sense as flood insurance in Midland. Although I suppose that if Midland were to get any significant rain, you'd have some pretty significant flooding, wouldn't you?

Putting a water heater in the attic of a house makes about as much sense as having a free-standing sink in your dining room.

Which, if our plumbing sub-contractor had had his way, we would be enjoying today.

I do believe that water heater manufacturers have perfected the Vacation Detection chip, which is now installed in each of their units. But instead of powering down when you're away for extended periods, it detects your absence and induces a failure. (We've also returned from vacation to a scene similar to what you described.)

As far as potential flooding in Midland, you're probably correct, but that qualifier – "if" – is huge. That's like saying, "if Congress ever develops any intelligence, we'll have a coherent and effective energy policy." We laugh at the prospect.

I was at the car wash the other day putting the shine back on the roadster and found out .... the change machine doesn't recognize the new funny money 5'rs, luckily I had some plain ole ones.
On water heaters, Midland water ate mine in 6 yrs and caused me to have a wreck (long story and I'm sticking to it). I've been interested in these "tankless" dealyos, but for my install they would have to move gas pipes etc., so I don't know if it would be worth it.

I'm praying this contract holds!

We live on the coast, but I haven't noticed that our flood insurance premium has increased. IMO it's the best value out there (I think we pay slightly over $300/year), and covers water damage that our regular homeowner's insurance excludes. But insurance is not a fun thing to pay for, until you have water damage to your house and don't have the right kind of coverage. After that, you sort of feel differently about insurance. At least, I did.

$300 per year!?

We're getting quotes that start at $800 and go up from there!

Perhaps you can understand our frustration. Paying an extra $100 per month in perpetuity (or at least until the house is paid off) for insurance in a city that averages less than 15 inches of rain per year doesn't seem quite right.

...and caused me to have a wreck

Don't you just hate it when that happens? I can't tell you how many car wrecks I've had that have been caused by various household appliances. ;-)

I've been interested in these "tankless" dealyos...

I'm skeptical. The builders aren't even offering them as options in new homes, although they'll certainly install them if you insist. I really wonder if they'll keep up with demand...for example, if you've got the dishwasher, clothes washer, and a shower or bath going at the same time.

I'm praying this contract holds!

Janie, I'll take all of that I can get! I don't like taking care of one yard, much less TWO! ;-)

The builders aren't even offering them as options in new homes, although they'll certainly install them if you insist. I really wonder if they'll keep up with demand...for example, if you've got the dishwasher, clothes washer, and a shower or bath going at the same time.

Eric, I think one of the reasons that builders are not readily offering them as options is that they haven't really caught on with the mainstream public, and the price tag is quite intimidating. They don't really begin to reach "good value" status until you've had one for 5+ years.

As far as their keeping up with demand, they're actually perfect for the scenario you described. Since there is no stored water, it only heats what's flowing at the time. The real drawback on a tankless system really only factors in where there is a substantial temperature differential (i.e., living in northern communities with sub-freezing temps).

This site (http://pesn.com/2005/10/21/9600191_Tankless_Water_Heaters_Stress_Grid/) offers a great summary on another drawback - the overall energy consumption when it's powered by electricity. Many municipalities require tankless systems be run exclusively on gas; likely for this reason. Anyway, the article includes a good little sketch, showing the functional differences between the systems.

And good luck with the house-selling. If you could have held onto it another year (and if the husband's company got the Midland gig), we could have been your buyers!

As far as their keeping up with demand, they're actually perfect for the scenario you described. Since there is no stored water, it only heats what's flowing at the time.

Well, I know that's the theory; I'm just skeptical that a full stream of water can be heated that quickly and continuously.

But, the only experience we've had with them was during a dive trip to Guanaja, off the coast of Honduras. The little hut-on-stilts that we stayed in on the beach had a tiny tankless heater, and it had trouble providing a good supply of hot water for just a shower. However, that was back in the 80s, and I'm sure the technology has improved, and the size in a home would surely be larger.

You make it sound like a move to Midland might still be a possibility...?

Well, no. At least not that I'm currently aware of. But with the relative health of Midland's economy, it might soon become one of America's next "Best Places to Live" :)

Oh, we've got that already sewed up. What I'm afraid we're headed for is top spot on "Worst Places to Find Someone To Wait On You At A Restaurant"! ;-)

Our son with three daughters who wash their hair EVERY DAY was a visiting teacher in Japan, and was living in a house there that had the tankless water heaters. When I visited, six people were taking showers, albeit only two at a time, and the heater kept up. Priceless!
And these girls didn't take quick showers, either!

Have a house in Midland built in '62 that was flooded in late 60's sometime. Flood insurance is $1000 per year. Parents live between Houston and Galveston 1/2 mile from a creek, flood insurance less than $300.

Go figure...

And these girls didn't take quick showers, either!

Yeah, that might be the acid test for the technology.

JB, I met the prospective buyer for our house this afternoon, and he remarked about the irony of moving to Midland (he'd previously lived in Colorado and Kansas) and having to buy flood insurance. Thankfully, he wasn't overly aggravated by it.

This is our first house to own and having grown up watching people get flooded out down near the coast I had always intended to purchase flood insurance, but this is ridiculous. My parents house has luckily never been flooded so that helps their premiums.