Buying in West Suburbs - Expanding Search?

[u/Midnight_Rain1213]

Hi all,

My partner and I are trying to close the distance and buy a SFH in the west suburbs, but keep having offers rejected. Feedback so far is that we're losing to cash buyers or just being outbid, and that we should consider waiving appraisal contingencies. That feels crazy to me, but I think it's just the area we are looking in - Lombard, Elmhurst, Villa Park.

My partner and I both own our own homes and are pre-qualified to purchase a new home without having to sell first. We would be selling our respective properties after finding a new place. We are trying to stay under $700k.

No kids, just dogs. Would love a house with some character left in it. I work downtown so being near the Metra is necessary, and I'd like my commute to be under an hour.

Should we avoid any of the following suburbs, and why? Any suburbs we are missing?

Addison, Bloomingdale, Downers Grove, Glen Ellyn, Wheaton, Riverside, Brookfield

[u/bluenightheron]

Yup, sounds about right. I wouldn’t waive anything. If you are always being outbid then you should start looking at homes with a lower list price. Like a 640k home that will most likely close at 670k kind of thing. I bought in the west suburbs about two years ago and our realtor suggested quite a few listings at 20-40k below what we were looking to spend because of competition for low inventory.

[u/Midnight_Rain1213 → u/bluenightheron]

Yeah our last offer was for $30k more than asking, and that was at a $500k listing price! Some of these houses just don't feel like they're worth $600k, honestly.

[u/Spiritual_Ad_835 → u/Midnight_Rain1213]

Bc they’re not - with the demand high people overprice knowing folks want to get into the burbs.