Slowing down

Well, reality set in yesterday. It's all about finances.

Mike Acton (Sandy Spring) has said that the bank looks on raw land purchases differently than finished builds in terms of collateral. We have 75K in the bank that he has in the past assured us we can use for a downpayment on a home, but when Scott approached him recently, he said that the bank values raw land differently because it's harder to sell if we default. (In a way, that's good. Maybe our Phoenix lot is hard to sell to others, too?)

Furthermore, he advised Scott that we couldn't renew or convert our business line of credit (which must be reviewed in February 2010 at the latest) before the new year. They want year-end numbers before they do a review.

Since other things at work were rather discouraging yesterday, and I was generally so tired from all the excitement of life and the search for land in general, we did nothing on the Phoenix Project yesterday but communicate to Elizabeth that we are slowing down and won't be putting in an offer of any kind before February 1.

This is a good thing. It gives us time to cool down and consider all aspects of the project. We can approach various counselors and get their considered opionions on the costs and ministry focus. It gives us time to visit a planning board meeting before actually needing to present there, meet neighbors and lobby for the project, and hone our financial picture.

I also feel calm peace knowing that God can remove this property from the scene by having someone else buy it out from under us if it's not His will. :D I like giving God room to close doors as much as I like walking through open ones. So, we wait, we pray, and we work at a comfortable pace. Wow, we must be growing up!