We just started the home buying process and, of course, our first offer was beat by all-cash investors. This market is insane and Im just wondering how long it took others here to get into a house? How many offers did you end up making? At what price range?
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We started in March/April with a maximum budget of $450k
We were aggressively putting in offers but were constantly being beat out by investors w/ all-cash or people willing to skip inspections/repairs/appraisals. It's going to be our first home, so we weren't comfortable purchasing under those kinds of conditions even when the sellers gave us the opportunity to adjust our offers to remove them.
BUT We finally got under contract a couple of weeks ago and are expected to close in <3weeks if things continue to go smoothly! We're probably paying a more inflated cost given the current market, but we made sure not to compromise on our estimated monthly costs and we're just happy to be on this side of the process.
For anyone trying to a buy a home right now, especially first-time home-buyers, I feel for you. The process is really hard and starts to feel very defeating when you’re constantly giving it your all. This is all anecdotal, but I do think things are softening a little bit. I’ve been seeing a few more price drops as of recent (compared to the 2 I saw for ALL of May and June).