I just saw the note you left for KAandJJ and I wanted to tell you that I'm in the same boat as you are!
We started looking for our first home 2 months ago and thought that we would have an easy go of it with all of the "buyer's market" talk. We've put in three bids so far and have yet to get anywhere. The first house got 12 bids in 24 hours, the second house we offered list price but never heard back from the bank, and the third house we were outbid.
It's definitely a frustrating process, isn't it?! The competition for realistically priced homes is high (of course you could probably have an easier time getting an overpriced home, but who wants to do that? lol) and there are a surpising amount of cash offers being made.
Re: *~*rodiggity79*~*
I know!! It's crazy out there! And you're right, there are a lot of cash offers being presented. I feel like any home that is competively priced is going really fast... I'm talking like 1-2 days on the market! I can't believe you offered list price on a bank owned home and never heard back. That's ridiculous.
I'm trying not to get frustrated and I really don't want to settle by purchasing a house I don't love. I wish you luck!! What area are you looking in? We're searching in the Avalon Park area.
You are right, unless something is wrong with the house, it will be off the market in less than a week. Have you been looking at just bank owned homes? Our agent told us that 90% of the houses on the market in Orlando are short sales and bank owned! How many have you toured so far? I think we've past the 20 mark! lol
We're looking at Winter Garden, Windermere, and Lake Nona/Moss Park. Although the later area has extremely high taxes that we are trying to avoid.
It sounds like you have a really good attitude; it's tough not to get to the point where you are tempted to settle. I've found that having a child complicates the process because now we also have to worry about finding a good elementary school! (which definitely isn't easy to do in Orlando lol)
We have been looking at bank owned and short sales. The Avalon Park area got hit really hard when houses prices tanked so most of the homes in our price range are one of the two which sucks. I think we've toured about the same as you.... going on 20 homes now. But we only liked 3 enough to put offers in.
Our baby is young but we're still making sure the elementary schools in the area are nice. I think most of them got A's but we haven't toured them or anything. Having a newborn AND house hunting has been a little difficult but we're making it work.
We'll have to keep each other updated on our home buying process. My dh took this last outbid hard so we're going out of town for a few days and then we'll start the hunt again next Monday.
Have a good 4th!
sorry to butt in, but we started looking mid-April, and prior to the bank accepting our offer have easily looked at over 100 homes! Stay positive!!!
Although, we don't have kids and don't plan to for a while I still wanted to make sure that we were in a good school zone.
stay positive and sending good vibes to both of you!
Rodiggity - we'll definitely have to keep each other updated on how our home search is going We're leaving for vacation tomorrow, so we'll be taking over a week off from the home search process. It's pretty good timing too since we've exhausted the current inventory from our ideal neighborhoods. lol But it will still be difficult not to be tempted to check the real estate sites a couple times a day!
KAandJJ - 100 homes! I don't know if I have that in me! lol