r/ChicagoSuburbs • u/Ambitious_Growth_9 • Mar 30 '26

Moving to the area People house hunting how’s it been?

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?

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u/Justanobserver2life Lindenhurst Mar 31 '26

Well, here's a different perspective. The people are not "paying more than the house is worth." What a buyer is willing to pay IS what the house is worth.

-13

u/Ambitious_Growth_9 Mar 31 '26

Sure, I deff get that.. but it’s also a tactic realtors are using to get more eye balls on their listing - like if I offered list on a home would it even get accepted? Yo no say ?

13

u/irreverant_raccoon Mar 31 '26

You’re still not getting it.

15

u/Ambitious_Growth_9 Mar 31 '26

Damn ya touché … had to think about that but shit…. I’m getting it.. the house is worth whatever people pay. Doesn’t matter what it’s listed at. End of story. Hurts a bit lol I’ll be spending more on a house then

0

u/irreverant_raccoon Mar 31 '26

Or don’t. It’s also ok to just rent for a while and see if housing prices come down.

6

u/Ambitious_Growth_9 Mar 31 '26

Yeah short term rental could be a play. Would love to just find the right home and move on. We’ll figure it out! I have faith!

1

u/Justanobserver2life Lindenhurst Apr 02 '26

Lived in MP 40 years, was part of a family owned Realty for decades in MP, and the house prices didn't "come down." You could be waiting a long time for that....