Episode 11, A Place of Our Own.
In Act 1, Marilyn asks Ellen for advice about buying a house.
Ellen, I'd like your opinion.
Richard and I feel that with a baby coming, we need to have our own place to live.
They talk about seeing a real estate agent, someone who sells houses, and they talk about getting a mortgage, a bank loan, to buy a house.
Maybe we should speak to a real estate agent about a house.
And a bank about a mortgage.
Does Ellen want Richard and Marilyn to buy a house?
How does Ellen feel?
Ellen, I'd like your opinion.
About what?
Well, Richard and I feel that with a baby coming, we need to have our own place to live.
Oh.
Well, what do you think about Richard and me looking for a small house or an apartment at this point in our lives?
We love having you here.
And there is room.
And when the baby comes, the baby can stay in your room for a while.
Richard feels we need to find a small house.
I remember when I was pregnant with Richard.
Phillip and I were living with Grandma and Grandpa.
Phillip was a young doctor, and he kept talking about having a house of our own.
It's natural.
What did you do?
We looked at a lot of houses.
Did you find one?
First, we couldn't afford it.
Grandpa wanted to lend us the money to buy one.
But Phillip is too independent.
He didn't want to borrow any money.
Sounds like Richard.
Well, they're all alike.
Richard is a real steward.
He's independent and sometimes just stubborn.
When did you buy a house?
After Richard was born.
I was teaching music, and Phillip was opening his first medical office.
Where was the house?
Right here in Riverdale.
Of course, it was a small house, but just right for us.
It's funny.
History repeats itself.
Now, Richard and I are having a baby, and we probably won't be able to afford a house right away either.
Why don't you look at some houses, Marilyn?
Good idea.
Look in the real estate section of Sunday's Times.
You'll learn a lot.
Maybe we should speak to a real estate agent about a house.
And a bank about a mortgage?
I'll talk to Richard about it.
I think it's a good idea, Ellen.
We can learn a lot by asking.
And if I can be of any help, let me know.
As a matter of fact, my friend, Virginia Martinelli, is a real estate agent.
Good.
You won't believe this, but she sold us our first house and this one.
I'll tell Richard, and we'll go to see her.
Do you think...
The skirt length is right, Ellen.
Do you think it's too long?
I think the skirt is just right.
Are you planning to attach a train to it?
No.
No train.
Just the dress.
But I am going to make A headpiece of lace.
That dress is gorgeous.
Thanks, Ellen.
And thanks for the advice about the house.
I'll talk to Richard about it the minute he comes home.
And remember, we love having you here.
There's no need to rush.
I remember when I was pregnant with Richard.
Philip and I were living with Grandma and Grandpa.
Philip was a young doctor, and he kept talking about having a house of our own.
It's natural.
I remember when Philip and I wanted a place of our own.
Like Marilyn and Richard want one now.
All people dream of a place of their own.
Some people dream of a farmhouse in the country.
Other people dream about owning an apartment in the city.
Philip and I had our dreams too.
Philip wanted a ranch-style house in Riverdale with a front door where his patients could enter his first medical office.
Oh, I wanted to live in Riverdale too, but I wanted a Spanish-style house like the one I grew up in tiles on the roof.
So we looked in the real estate section of the newspaper.
We read about lots of houses for sale and we went to see a real estate agent, as marilyn and richard are going to do.
We looked at lots and lots of houses, but we didn't have enough money to buy any of them.
Richard and Marilyn don't have much money either.
Maybe they won't be able to afford a house.
It's funny.
History repeats itself.
Now, Richard and I are having a baby, and we probably won't be able to afford a house right away either.
We couldn't afford one right away.
But we kept looking.
And later, after Richard was born, we bought a house here in Riverdale.
Oh, it was small, and it didn't have much land.
But I loved it.
Philip and I both loved it.
Because finally, we had a place of our own.
In Act Two, Marilyn and Richard speak with Mrs. Martinelli, a real estate agent.
Mrs Martinelli offers to help, but she explains that Marilyn and Richard cannot afford a house in Riverdale.
Of course, they won't be in Riverdale.
The cost of housing is too high for you here.
Will Marilyn and Richard find a house?
I remember your parents' first house very well.
It was on Spring Avenue near the park.
I grew up in that house.
Yes, and you were such a cute baby.
I've seen pictures of him.
He had blonde hair.
I've been friendly with the Stewart family for a long time, so it's my pleasure to help you find a house now.
Well, we're not sure we can afford one.
But we'd like to find out about the possibilities.
That's a good idea.
I love your house on Linden Street.
I sold your father that house 17 years ago.
Really?
Yes.
Mom was pregnant with Robbie then, and they needed the extra room.
I hear you're expecting a baby, Mrs. Stewart.
So we will be needing more room.
Oh, so you don't need something immediate.
No, but in five or six months.
And time passes so quickly.
Yes, it does.
Well, when you called, you gave me enough information about your salaries and your savings, so I have a good idea about your financial situation.
Let me show you some pictures of houses.
With two bedrooms?
Yes, I think I can show you some.
Of course, they won't be in Riverdale.
The cost of housing is too high for you here.
I haven't thought about living anywhere else.
We've always lived in this area.
Where should we look for a house, Mrs. Martinelli?
Well, we have an office in Mount Kisco.
It's a lovely area, and it's only about an hour's drive from here.
Here, I have a book. with photos of some homes in that area.
Now, let's see.
Here.
This is a lovely two bedroom house in your price range.
It's pretty, but I prefer a two story home.
I do too.
I don't care for a ranch type.
OK.
Oh, this is a wonderful house.
I know it well.
I sold it to the present owners.
It looks wonderful.
This is a two bedroom, two bath house.
It has a full basement, and it is on a half acre lot.
You can probably afford this one.
I like this house.
So do I. And the price is right.
Would you like to go see it?
Yes.
We're planning to talk to someone at the bank next week.
Perhaps we could see the house this weekend.
If someone doesn't buy it before then.
But let's keep looking just to get an idea of some other possibilities.
This is very helpful, Mrs. Martinelli.
Here, this is a wonderful example of a Spanish-style architecture.
Oh, I love the roof tiles on a Spanish-style house.
It looks like the houses in Hollywood.
It's interesting.
A house like this in Riverdale costs double the price.
Oh, my.
Here's a real buy.
It's a bargain.
This house just came on the market.
It's quite lovely.
Is it a two bedroom house?
No, it has three bedrooms and three baths.
I know the house.
It has a brand new kitchen and a living room with a 12 foot ceiling.
And there's a two-car garage.
Why don't we go look at this house, too?
It's a good investment.
Thank you, Mrs. Martinelli.
Thanks so much.
My pleasure.
Give my best to your parents.
Your father's a wonderful doctor, Richard.
He took care of my daughter when she was a child.
He's the best pediatrician in Westchester.
Thanks, Mrs. Martinelli.
I'll give them your regards.
We really appreciate your advice.
I do think you should go see the houses and talk to the bank.
Here, let me give you some information sheets about the houses.
They're both very good buys.
Well, thanks so much for your help and your time, Mrs. Martinelli.
We've got a lot to talk about.
Thanks.
Here.
This is a lovely two-bedroom house.
The house has two bedrooms.
It's a two-bedroom house.
This is a two-bedroom, two-bath house.
Hmm.
A two-bedroom, two-bath house.
It has two bedrooms and two baths.
What about this house?
Well, let's see.
One bedroom.
Two bedrooms.
Three bedrooms.
It has three bedrooms.
It's a three-bedroom house.
I like this house.
One bath, two baths.
This house has two baths.
It's a two-bath house.
Oh, I also like the garage.
It holds two cars.
It's a two-car garage.
This looks like a nice house.
I've got to see the inside.
Let's see.
There's a big kitchen, a dining room, a living room and one bedroom, two bedrooms, three bedrooms and one bath.
Two baths.
That's good.
It has three bedrooms and two baths.
So what did you think?
Well, it's a three-bedroom, two-bath house.
And you know, I think we could live here.
We'll have our own home.
It's the American dream.
In Act III, Marilyn and Richard go to a bank.
They need a mortgage, a bank loan, to buy a house.
What can I do for you?
We'd like to discuss a mortgage.
For a house.
The bank officer, Mr. Riley, needs to find out if they can afford to pay back the loan.
So he asks about their jobs.
What is your occupation?
I'm a freelance photographer.
And Mrs. Stewart, are you working?
Yes, I'm a designer.
Will Marilyn and Richard get a mortgage?
How do you do?
Hello.
I'm Rock Riley.
I'm Richard Stewart, and this is my wife, Marilyn.
Pleased to meet you.
Likewise, Mr. Riley.
Please, sit down.
What can I do for you?
We'd like to discuss a mortgage.
For a house.
Fine.
Are you buying a house or are you refinancing your present home?
We're planning to buy a house.
And we'd like to find out about a mortgage.
We are customers of the bank.
As a matter of fact, my whole family banks here.
I have some questions to ask.
Do you own your house or do you rent?
Neither.
We live with my parents, Dr. and Mrs. Philip Stewart.
And how old are you?
I'm 29.
I'm 30.
And Mr. Stewart, what is your occupation?
I'm a freelance photographer.
And Mrs. Stewart, are you working?
Yes, I'm a designer.
And I work in a boutique.
Did you bring any savings or salary information?
Last year's tax forms?
Yes.
Here they are.
Okay.
What kind of house did you have in mind?
Well, we're talking about buying a two-bedroom house in Mount Kisco.
Here are the financial details on the house.
Thanks.
Are you prepared to make a 10% down payment?
Yes, we are.
Payments over 30 years?
Yes.
Do you think we can get a loan?
Well, it depends.
Do you own any other property?
Any stocks or bonds?
No.
I see.
You don't have any collateral.
Perhaps you could get a guarantor, someone to sign for the loan for you?
Why is that necessary?
Since you don't have enough income and you don't already own any property, the bank needs to be sure you can pay the mortgage every month.
A guarantor is responsible for the loan if you can't make the payments.
I see.
Well, the idea of buying a house is exciting.
Thank you, Mr. Riley.
We'll read this over carefully.
Thank you.
Goodbye.
Thanks.
Goodbye.
And hope to see you soon?
I hope so, too.
Take care.
It all sounded so easy until they mentioned needing collateral or a guarantor.
We have no collateral.
And I don't think it's a good idea to ask dad to sign as a guarantor.
I don't feel right about it.
I understand your feelings about it, Richard.
Now tell me, what's the problem?
We can get a loan from the bank if we can put up some collateral.
Then we don't own anything to use as collateral.
Or someone can sign with us as a guarantor.
Why don't you speak to Dad?
No.
If we buy a house, I want to be able to handle it alone.
Everybody needs help sometimes, Richard.
I understand Richard's feelings about it, Ellen.
In two or three months, I'll have an advance on my book and be able to put more money down.
What about the house in Mount Kisco?
Somebody else will buy it by then.
Well, then there'll be other houses, Marilyn.
Oh, Richard has a point.
You're just beginning to look.
We're in no great rush, it's true.
This has been a great learning experience for us, Marilyn.
Talking to the real estate agent, looking at the houses, talking to the loan officer at the bank.
It has been a learning experience, that's true.
I think you're doing the right thing.
Taking your time, looking around, especially with a purchase of this kind.
You're talking about a lot of money.
We'll call Mrs. Martinelli and tell her to keep looking for us.
And I'll call Mr. Riley at the bank and tell him we'll see him in a couple of months.
And if you ever need Dad or me to help you, we know.
You know we'll be there for you.
It's a Stewart tradition.
We're a family.
Oh.
They wanna buy a house, but can they afford it?
We're planning to buy a house.
And we'd like to find out about a mortgage.
Here's the application.
We need some information.
How old are you?
I'm 29.
How many years were they in school?
Richard.
Sixteen.
Marilyn.
Fourteen.
And Mr. Stewart, what is your occupation?
I'm a freelance photographer.
And Mrs. Stewart, are you working?
Yes, I'm a designer.
And I work in a boutique.
Here's the application.
We need some information.
Income.
Property.
Debt.
What's their income?
How much money do they make?
They make $2,000 a month.
That's $24,000 a year.
Can they afford a house?
Do you own your house or do you rent it?
Do you own any other property?
Any stocks or bonds?
Can they afford a house?
Since you don't have enough income and you don't already own any property, the bank needs to be sure you can pay the mortgage everybody.
They need a guarantor.
A guarantor is responsible for the loan if you can't make the payments.
I see they can't afford a house and i don't think it's a good idea to ask dad to sign as a guarantor.
I don't feel right about it.
They can't afford a house.
They can't afford it yet.
