Home Purchase....How long did you offer before purchase - Mothering Forums
Forum Jump: 
 
Thread Tools
#1 of 18 Old 01-30-2013, 09:41 PM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Misery loves company and I have been putting offers on houses for six months now and I feel like I am never going to get a house. I guess I have made 50 offers with most properties having 20 or more offers to compete with.

 

So how long did it take you to get an accepted offer? Was there much competition? I'm so frustrated and would really like to hear that I am not alone and that there is a light at the end of the tunnel.

 

I was so surprised that the house actually has to pick you and you don't get to pick the house. I feel like the home buying process in the US is just so crooked and backwards and I hate being forced to play the game.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#2 of 18 Old 01-30-2013, 10:53 PM
 
crunchy_mommy's Avatar
 
Join Date: Mar 2009
Posts: 6,501
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Sheesh that is crazy! When we bought, we made one offer and it was accepted within a week (no competitors). Two of my friends bought more recently and one was also accepted immediately, and the other lost 2-3 houses to competitors but they weren't totally into those houses so they didn't put in their best offers. Here it is a buyer's market and there are way more houses than buyers, though I suppose there can still be competition for a great deal.

You can have my house if you want, I'll gladly sell it to you. Bolt.gif

Co-sleeping is really wonderful when your child actually SLEEPS!! familybed1.gif
crunchy_mommy is offline  
#3 of 18 Old 01-31-2013, 12:05 PM
 
goldingoddess's Avatar
 
Join Date: Jan 2008
Posts: 907
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
You live in the SFBAY right??

We had the same experience when trying to purchase with an FHA loan in 2010. And the inventory is even lower now, so I'm sure it's worse. Best of luck, buying a home here sucks.

Julia, mama to Bumpa 2008, and The Mole 2011

goldingoddess is offline  
#4 of 18 Old 01-31-2013, 01:06 PM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

yes we live in SF Bay Area. Northbay to be exact. Crunchy where do you live?


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#5 of 18 Old 01-31-2013, 02:40 PM
 
crunchy_mommy's Avatar
 
Join Date: Mar 2009
Posts: 6,501
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Other side of the country, in New England... 50% of the houses on my street alone are either for sale or foreclosed!

Co-sleeping is really wonderful when your child actually SLEEPS!! familybed1.gif
crunchy_mommy is offline  
#6 of 18 Old 02-01-2013, 04:07 PM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

wow I wish it was that way here. There are foreclosures here but the bank isn't selling them. They are holding on to them to artificially jack the market up.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#7 of 18 Old 02-01-2013, 06:42 PM
 
crunchy_mommy's Avatar
 
Join Date: Mar 2009
Posts: 6,501
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Well it's great here if you're trying to buy a home I suppose... Not so much for those of us that have homes that are now worth practically nothing so we can't sell or refinance or anything.

Good luck, I hope you get a place soon!

Co-sleeping is really wonderful when your child actually SLEEPS!! familybed1.gif
crunchy_mommy is offline  
#8 of 18 Old 02-01-2013, 08:27 PM
 
Sharlla's Avatar
 
Join Date: Jul 2005
Location: Springfield Mo
Posts: 12,042
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
We offered full asking and it was a done deal.

Unassisted birthing, atheist, poly, bi WOHM to 4 wonderful, smart homeschooling kids Wes (14) Seth (7) Pandora Moonlilly (2) and Nevermore Stargazer (11/2012)  Married to awesome SAH DH.

Sharlla is offline  
#9 of 18 Old 02-02-2013, 03:16 PM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I guess that's why there is so little inventory here. Everyone is stuck in their houses because they are upside down. Totally sucks for everybody, I guess. I can't get housing and others can't get out of theirs.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#10 of 18 Old 02-03-2013, 09:14 PM
 
lookatreestar's Avatar
 
Join Date: Apr 2008
Posts: 987
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

we got so frustrated i was considering buying houses we didn't even love (or really even like). at that point i knew we just needed to wait and keep saving until the right house comes along. i am so over the "buy now or be priced out forever" bs. here we are beat out by all cash offers left and right all because of "investors" eyesroll.gif


mama to one '07 and one '09
lookatreestar is offline  
#11 of 18 Old 02-04-2013, 01:43 PM
 
goldingoddess's Avatar
 
Join Date: Jan 2008
Posts: 907
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

We ended up buying a home we didn't love but it was what needed to happen for us.  Renting with animals in the bay area is very hard.  And mortgages are generally less than rents here.  I couldn't handle having next to no control over my living situation when renting.  Even though our house is tiny, 777 square feet, I can appreciate being able to have a water filter installed in my sink, putting in gardens and fruit trees that I won't have to say goodbye to, installing a charger for our electric car etc.  

 

I bet the market will be better in the summer than in the winter, there's always more inventory in summers.  You are correct that the banks are holding back inventory, it's so shady.


Julia, mama to Bumpa 2008, and The Mole 2011

goldingoddess is offline  
#12 of 18 Old 02-05-2013, 07:55 PM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

are you guys in the bay area?


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#13 of 18 Old 02-06-2013, 12:52 AM
 
goldingoddess's Avatar
 
Join Date: Jan 2008
Posts: 907
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Yep, we're in the East Bay.


Julia, mama to Bumpa 2008, and The Mole 2011

goldingoddess is offline  
#14 of 18 Old 02-06-2013, 12:39 PM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

gold you tricked me with that picture of snow!

 

I just heard from my realtor that the last house that I offered on had 52 other offers yikes2.gif

 

That's gotta be some kind of record. The house wasn't even in an entirely desirable area, or maybe I'm wrong about that because 52 offers just blows my mind.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#15 of 18 Old 02-06-2013, 12:54 PM
 
goldingoddess's Avatar
 
Join Date: Jan 2008
Posts: 907
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Ha yeah, the snow was from when we visited Sequoia National Forest years ago.

 

We were in the exact same situation when buying in 2010.   It was rare that a house had fewer than 20 offers on it.  And there were so many cash buyer investors at the time, we had no chance as FHA buyers.  It was maddening.  We would offer 20 and 30k over the asking price on every place.  I think the only reason we got the place we did is because no one else wanted it.  It is super tiny, and is on a third of an acre split into three lots, but it is an L shaped yard when you put all of the lots together, so its awkward.  Lucky for us we like yard work, or more I like yard work.  Sometimes I think we'll live in this house forever just because I don't want to go through the buying process again.  We went through 3 realtors and just had an overall crap experience.  

 

Despite our place being small, it does have good energy and back up to parkland, so it wasn't completely a bad decision....


Julia, mama to Bumpa 2008, and The Mole 2011

goldingoddess is offline  
#16 of 18 Old 02-06-2013, 05:32 PM
 
crunchy_mommy's Avatar
 
Join Date: Mar 2009
Posts: 6,501
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by trekkingirl View Post

I just heard from my realtor that the last house that I offered on had 52 other offers yikes2.gif


That's gotta be some kind of record. The house wasn't even in an entirely desirable area, or maybe I'm wrong about that because 52 offers just blows my mind.

jaw2.gif 52 offers?!?! That's insane!!!! Seriously, move out here, you could get a place in 10 minutes flat!

That's really unbelievable. hug.gif

Co-sleeping is really wonderful when your child actually SLEEPS!! familybed1.gif
crunchy_mommy is offline  
#17 of 18 Old 02-07-2013, 04:02 AM
 
SunRise's Avatar
 
Join Date: Apr 2005
Location: CNY via Canada
Posts: 1,539
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)

That is insane.  Im in a much smaller area, but right now, in my neighbourhood, there are only two houses for sale and they have been on the market for a while; its typical in this area, that most houses come up for sale in the spring, giving buyers more selection and a bit less competition. Have you looked at houses for sale by owner? Maybe that is a route to take. Ask the realtor.


Sara - Mum to C (10/02) ; m/c 10/07; 7/08; 3/09; Lucy Olive Feb 28, 2010 !
SunRise is offline  
#18 of 18 Old 02-08-2013, 12:39 AM - Thread Starter
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I'm now on my third realtor so I'm really hoping that third ones a charm instead of three strikes, you're out!


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
Reply

Tags
Finances

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off