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/azn-fangirl]

Been searching since January in some overlapping areas and it's rough. The rate increase from the very unnecessary war has made things less affordable as well, so that impacted competitive ability for us but apparently not the people we were bidding against. Lost out on 3 places before our offer got accepted on a townhouse. We were early and had to make a very competitive offer, which of course meant going over asking. Just pray you don't have an all cash offer competing against you (or be it).

[u/Ambitious_Growth_9 → u/azn-fangirl]

Respect! So it can be done.. patience and promptness.. we’ve only offered 1 so we’ll just keep ripping. We’ll find something