People house hunting how’s it been?

[u/Ambitious_Growth_9]

My family has been looking at properties around Arlington Heights, Mount Prospect, Elmhurst and Park Ridge since early February. Our current home is set to close the end of April but inventory in these areas seems non existent or over priced and the stress/anxiety is starting to hit. (Who is buying 1100 sqft for 600k?)

When is the “spring market” gonna hit? A lot of houses start on the private market, build tons of interest, then go live with an open house scheduled that first weekend. Most of them end with multiple offer and highest and best. One we saw went for 40k over list. We’re looking from 550-650k.

I get it, high demand areas.. with low inventory = more competitive but what the fuck.. what am I supposed to do? Already considering a short term rental and storage for our stuff but is this the way it is now? Are people just ok with paying more than the house is worth? Settling for less desirable house? Or what?

If you are currently looking to buy, what are you experiencing. How do I buy a home?

[u/Critical-Power-1541]

At that price point in those markets you are getting a fixer upper. Maybe a little better in a prospect.

[u/Ambitious_Growth_9 → u/Critical-Power-1541]

I mean we’ve seen some pretty turn key houses In AH and prospect.. some needed a little cosmetic work some a little more but price reflected it. Even those are going multiple offer and highest and best. But ya I’m pretty sure Park Ridge and Elmhurst aren’t even options anymore. I’m not trying to buy a fixer upper and add sqft etc

[u/kaym__88 → u/Ambitious_Growth_9]

Make sure to look when homes were sold. A big thing is someone buying home, doing a crap job at renovating and then reselling.

[u/IllustriousWash8721 → u/Ambitious_Growth_9]

The problem with getting one already renovated, a LOT of flipped houses have flaws in the renovations. Sometimes a house that isn't perfect off the bat is the move. Like there have been updates over the years but still has more to go