How many offers.....

[raisinitup]

So, I'm getting very frustrated. I thought the hard part was rebuilding our credit and saving up the money for downpayment. Well, we're finally over that hump - got the scores up to more than acceptable, nice chunk of change in the bank and lo and behold we cannot find a house ! We've been looking for over a month now, we've put in offers on 3 different houses and all were outbid by cash offers. Evidently, there are a ton of investors out there that have the same taste in homes that we do or bank sales that take forever to make a decision. It's an emotional roller coaster that I'm ready to get off of.

Anyone else out there experiencing this ? How many offers have you put in ?

[moneypenny02]

Are you in California by any chance?  I haven't officially started, but I am getting myself emotionally ready for the same thing. 

[MePlusThree]

We out in like literally 25 last year. I'm im Mi. We're renting right now btw. Wish you better luck than we had!!

[raisinitup]

Nope, I'm in FL. One of the "hardest" hit states by the economy. Well, let me tell you, it sure doesn't seem like it with the housing market I'm experiencing. More like a boom!

[raisinitup]

Wow, 25 ! Unbelievable - my husband is ready to rent for another couple of years. He's already over it.

[Sunshine85]

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@kmathies wrote:
Nope, I'm in FL. One of the "hardest" hit states by the economy. Well, let me tell you, it sure doesn't seem like it with the housing market I'm experiencing. More like a boom!

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I'm in Florida as well, and it took me 8 months to get an offer accepted. I made 7 offers, and all but two were at or above listing price. This was for an entry level price range home ($100k-150k). Not sure if buyers in higher price ranges are experiencing the same issues. 

[raisinitup]

Man, 8 months. I don't think I'll have any hair by then. I think someone should offer counseling for this, lol. I had no idea home ownership would be this tough.

[EmpressLuv]

my brother was looking for a long while, so we took him as an example and went new construction. we went in to see the model house one day and signed contract the same day..i am also in florida.  Initially we wanted to look for short sales or foreclosures but the realtor told us there is no inventory here and we competing against cash buyers, I didnt want to go through that headache at all.

[Sunshine85]

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@kmathies wrote:
Man, 8 months. I don't think I'll have any hair by then. I think someone should offer counseling for this, lol. I had no idea home ownership would be this tough.

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Yeah, it's pretty discouraging to keep making offers and having no luck. I wanted to give up, but the alternative is to stay in an apartment, or rent a house and pay someone else's mortgage, so I decided to keep looking. 

Try to hang in there. Something will come along. 

[raisinitup]

I think new construction is where we'll end up too. I really wanted an existing home in an established neighborhood but I feel like we're bringing a knife to a gunfight. I don't really function well in instability and the anxiety has been unreal.