The house hunting process itself has been quite annoying and frustrating. When we started the process of looking for a home (back at the beginning of March), we were told REPEATEDLY by EVERYONE that "this is the BEST time to buy a home." Seriously, it was as if every real estate agent, builder, seller, random stranger at the local Walmart all practiced the exact same speech. It goes something like this:
Tom and Robin: We're looking at buying a home.
Builder/Agent/Neighbor's first cousin's manager's manicurist: Well that's great! Now is the best time to buy a home. THIS is a buyer's market. Tell me, do you have a home to sell?
T & R: Nope. And our lease buyout is cheap, so we have flexibility on when we can move.
B/A/NFCMM: Wow, you're in the BEST position. Do you realize how lucky you are?
T & R: Yeah.
B/A?NFCMM: AND did you hear about the Utah housing grant or the federal tax credit or the historic low interest rates? I mean, seriously, YOU ARE SO LUCKY!
And yet...
Despite all this, we've made an offer on THREE homes and still have no contract. Seriously, THREE. We're pre-qualified, no home to sell, eager, attractive, and funny... what's the deal?
Part of the problem is that even though houses are going for less and there are lots of incentives, the only people who are selling are those who absolutely have to move OR those who have stopped making payments and are now trying to do a short sale. (short sale = dealing with stupid banks and waiting...waiting...waiting)
Supposedly we will hear back about our most recent offer tomorrow (Monday). However, we were SUPPOSED to have had an answer by yesterday. Am I surprised that they extended it another two days? Not really. We were SUPPOSED to hear back from our first offer in a few days. Nope. We were SUPPOSED to hear back from about our second offer within two weeks (it was a short sale.) Those two weeks turned into three, at which point they told us it was put on a "urgent status" and we'd hear in 72 hours. At 96 hours, they told us MAYBE another three weeks. So I'm not getting my hopes up for tomorrow. Ugh.
For those who know me, I'm not very patient and I don't like not knowing where I will be living in the next month or so. SO... I took matters into my own hands and I bought a home. Today. Here it is. I'm really excited. Come visit.
P.S. Despite all this, we really like our buyer's agent we are using. So if you looking to inflict yourself into a second job that pays nothing and will cost you 30 years of your life (looking for a home seriously is a second job), let me know. He's great.
4 comments:
Hang in there. The waiting is the worst part I agree. We bought our house as a short sale last year and it really takes 60-90 days or at least it did then. Banks are slow...happy hunting.
Oh i am so sorry. Curtis' brother went through the same thing- short sales, stinky houses, beautiful homes that were now like 50 % of thier price- only problem was they were a cool mil before the price drop. GR. and good luck!
yeah that does not sound fun at all!
i know i know, my dad got our house for us before we moved from KC and it was a joke, we were paying cash, didn't even need a bank and i think it was the most stressful house they ever bought, a lot of the short sales they made offers on had leans on em, the banks were so slow and clueless, what to do.... just take solice in knowing that when the right one comes along hopefully it will be an easy process :)
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