It's been 36 days since we've made our first offer on a home, and, well, it might as well have been 360 days. Or 360 months (aka the length of your run of the mill 30 year mortgage). Because this process feels like an eternity already, and we haven't even gotten anywhere close to an accepted offer. Or a counter offer. We're not really lowballing or anything. Inventory is just insanely low right now and it basically turned into a sellers' market the minute we decided to start "looking around". So we're 3 offers in (and counting I guess), and hopeful (ish). Let's chat about what we've offered on so far, shall we?
House #1 (aka our first love)
Short Sale $329,900
Stats: 3 bedrooms 2 baths
Single Story (attached on one side)
1600+ sq ft on a 9000+ sq ft lot (HUGE)
The house was a dream (seriously one of the biggest back yards we'd ever seen). It had been on the market for a long time and by the time we made our offer, the listing agent said he had 5 other offers already and some were all cash. And that they were waiting on the sellers to finalize their bankruptcy before proceeding. All fishy stuff, right? It was our first heartbreak, but we trudged on...
House #2 (pool party paradise)
Short Sale $319,000
Stats: 3 bedrooms 2 baths
Single Story (detached)
1196 sq ft on a 4660 sq ft lot (itty bitty!)
By this point we had seen many more homes, none in areas we really wanted to go with. Our area is rife with new construction 2 story boxes, but we really want the feel of our own detached space. A yard for our little girl to run wild in. A front door that we can paint red without a strict HOA to say no to us. We didn't love that there was a pool, and frankly it took up most of the back yard. But we missed out on a home in this area that was listed at 295k because it was super icky and we had just offered on our first love house so we didn't want to think about it. And we regretted it a bit because it is a very nice little area, so we decided to try for this one. The listing agent said they decided to go with another offer that had been waiting for the house (heh?). Onwards...
House #3 (the new dream)
Short Sale $319,900
Stats: 4 bedrooms, 2 baths
Single Story (detached)
1600+ sq ft on a 7100+ sq ft lot
Our latest conquest. *Sigh* We essentially moved ourselves right into this one as well. I begin redecorating in my mind for all of these. Adam picks out his dream power tools. We research wood flooring. And, as we offered on May 30, we continue to sit and wait for a response. Kind of a long wait, right? There are no other offers on this one, so what's the holdup?! They're probably trying to get a better offer. We'd at least appreciate a good ol' fashioned counter offer! Are we that undesirable?
When we began looking, we said we would be happy taking our time, and actually looked forward to getting a short sale or something that would close several months down the line, so we could continue to save up more money. But it feels like the tides are changing in this nook of So Cal... prices have started creeping up and we are terrified of being priced out of a home altogether. And did we mention that inventory is still REALLY low?
Help.
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