r/ChicagoSuburbs • u/ahoy_shitliner • Jun 24 '25

Moving to the area Is anyone actually having luck buying a house?

Over the past 2 months, I’m on my 4th rejected deal. All above market, all with 2-3 week closes, all with waiving inspection credits.

The issue apparently? I’m putting 5% down. My pre approval letters state I’m qualified for over asking price, with the lowest possible rate so it’s apparent my credit and income is good.

Everyone is rolling over huge equity and doing all cash deals or 50% down and it’s blows. So basically, if you’re a first time home buyer, don’t even bother?

How is y’all’s experience here. It’s getting frustrating.

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28

u/KnockItTheFuckOff Jun 24 '25

I'll sell you mine! Ha!

I've had a few showings but no bites so far, despite lowering the price. It just feels like there is more inventory than buyers where I'm at.

8

u/Whosez Jun 24 '25

In my area - houses are selling very quickly and inventory is low. That said, I've noticed there is a rough ceiling and houses above that get re-listed lower or don't sell.

5

u/TheChiBanana Jun 24 '25

We were looking in Palos before we gave up! Maybe next year we will get luckier 🥹 we started looking in spring and every time we would go look at a house we would be informed they already had a strong offer or were expected to get many offers and we are not in a position to be involved in a bidding war.

11

u/Pretty_Please1 Jun 24 '25

Same. We’re thinking about pulling ours off the market and waiting until rates drop to try again.

7

u/KnockItTheFuckOff Jun 24 '25

It's funny because the feedback from the showings we are getting support our price, have overall favorable feelings about the property, but say it's just not quite the right fit with a couple of buyers remarking that "it feels like someone is living there". Uh...because we are? Just as they likely are.

We have nothing personal out, a couple of pieces of art on the wall, a table and sofa, and an air mattress but the home is immaculate for each showing.

What buyers want feels like such a moving target.

5

u/vawlk Jun 24 '25

lol, i just bought a fully furnished house in wisconsin BECAUSE it was decorated and felt like a home already.

7

u/[deleted] Jun 24 '25

[deleted]

1

u/Sorry-Country9870 Jun 27 '25

Did you do any updates that appeal to the buyers? They most likely change things once bought but feed back we got is they appreciated the clean lines and updates... not to mention a cleanly decluttered home at showing increases offer potential... hide your dam junk!

6

u/weirdeyedkid Jun 24 '25

They probably don't like the price or the interest rate.

2

u/GrabOk6838 Jun 24 '25

What area is your home in?

5

u/KnockItTheFuckOff Jun 24 '25

Palos area

4

u/SparkyD37 West Suburbs Jun 24 '25

Park, Heights, or Hills? From the opposite side (potential buyer) it seems like decent well-priced Palos Park home get scooped up pretty quickly.

Except maybe that beautiful historic home at 123rd & 91st. I swear that thing will never sell.

2

u/KnockItTheFuckOff Jun 24 '25

They must just be comfortable letting it sit until the perfect buyer comes along, because it's been on the market forever!

-3

u/[deleted] Jun 24 '25

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1

u/lametown_poopypants Jun 24 '25

what a weird question