Is That Your Final Answer?

So we did it. We picked a house. We're putting an offer for 96% of the purchase price on a little place up the hill. We just sent over the paperwork and we haven't heard back from them yet so we have NO clue if they'll accept the offer, counter, or just flat out say "NO!" If they counter we'll probably take whatever they come back with, though, because this place is a steal. It's a good long term investment and it has the potential to be a good short term investment, too, since it's priced well below the neighborhood values. In fact, there's a comparable house a block away going for almost twice as much. I don't want to get too excited because with our luck they'll turn us down, or a competitive offer will come in and it'll turn into a bidding war and we'll get priced out, or it'll fail inspection, but I'm so excited and I'm keeping my fingers and toes crossed in the mean time.
Once things are a little more certain, I'll post pics, but here's the skinny.
It's 5 bed, 2.5 bath with an office, play room, formal dining room, and copious walk-in closets in all the bedrooms. It doesn't have much of a yard, but it has enough to keep me busy, and the gorgeous entry way and massive curb appeal more than make up for the lack of flower beds. It's in a fantastic neighborhood with some of the best schools in the county. 2 car garage, recently updated kitchen with solid granite counter tops and custom cabinetry. It's a bit older (built in '94) and needs some updating, but the only major projects (hopefully- have to do an inspection with houses this age) would be finishing the basement by adding in a third full bath and a possible wet bar, and adding a walk-out exit to the basement (basements without a walk-out really creep me out!) and of course paint and carpet. The best parts about it are the fireplaces (2!) and the views (to die for).
Anyway, that's what's going on around here. I'm really, really, really, really hoping they accept our offer, because this is the only place we've liked that's not a short sale, and you know how I feel about those.