Realestate Buyers need to Hold the line (Fairfax: spring break, homes)

[LynchburgLover]

Originally Posted by jillabean

Bah! Quit posting why I should buy now... I want to buy now. I just haven't found the right place yet

Home sellers need to put their houses on the market for me (especially you folks in Burke) and you other buyers need to stay away from my house wherever it is .

Okay, in all seriousness, I wonder how many buyers, like me, are waiting in the wings--not for better prices so much as better selection. I keep hoping March brings more houses to the market. I know it won't be like the old days of multiple bids on a house in a day, but I really think the good houses will go fast, but I bet there will be offers and counter offers. I kind of see things as balanced right now--expect that I wish there was more inventory.

(Speaking gently here): Keep in mind the perfect house doesn't exist. Every house/neighborhood/school district has pluses and minuses. If you keep saying, "maybe next week . . .", you're never going to buy.

Good luck and keep an eye on those interest rates.

[Bideshi]

Anyone that buys into a market tanking as fast as this one is nuts.

[jillabean]

Originally Posted by LynchburgLover

(Speaking gently here): Keep in mind the perfect house doesn't exist. Every house/neighborhood/school district has pluses and minuses. If you keep saying, "maybe next week . . .", you're never going to buy.

Good luck and keep an eye on those interest rates.

I have to keep reminding myself of that, so no worries there. I am just hoping to find a house with my four needs: In a school district I like (I have more than one picked out), with a garage, not a condo, and in my price range. Everything else is just a want that I can work around (I have degrees of wants--but they, as the name implies, aren't necessary).

There were non-condos in the school districts I like with garages that recently sold (June-January) in my price range--so I know it's not an impossible dream. There just isn't anything right now.

I might have to give up on the garage dream... that opens up a whole bunch of houses to me. But I am not ready to give up on that until maybe April or May. I'd like to be in my new house by August so my daughter can start school there.

[Caladium]

Originally Posted by Bideshi

Anyone that buys into a market tanking as fast as this one is nuts.

Things may be different here than they are in Colorado Springs.

[michgc]

Finding a house is like finding a man - you'll just know when you have found the right one!

Originally Posted by jillabean

I have to keep reminding myself of that, so no worries there. I am just hoping to find a house with my four needs: In a school district I like (I have more than one picked out), with a garage, not a condo, and in my price range. Everything else is just a want that I can work around (I have degrees of wants--but they, as the name implies, aren't necessary).

There were non-condos in the school districts I like with garages that recently sold (June-January) in my price range--so I know it's not an impossible dream. There just isn't anything right now.

I might have to give up on the garage dream... that opens up a whole bunch of houses to me. But I am not ready to give up on that until maybe April or May. I'd like to be in my new house by August so my daughter can start school there.

[scimitar12]

Originally Posted by michgc

Finding a house is like finding a man - you'll just know when you have found the right one!

I see what you mean. When I looked for homes over the years I always took pride in doing my due diligence; water seepage in the basement, school district quality; overall condition of house, quality of neighborhood, etc.; however, it always seems like the ones I buy scream "buy me" after I seeing the places for only about 3 or 4 minutes.

[oneasterisk]

Here's a short article on the rising interest rates: Don't sweat rising mortgage rates - Street Sweep: Fortune's Wall Street Blog

[South Jersey Styx]

Originally Posted by michgc

Finding a house is like finding a man - you'll just know when you have found the right one!

Good point - when we were shopping for our house in Winchester, we knew when we walked in that it would be our next home. We probably saw about two dozen houses or more before that.

We saw alot of duds too (goes back to your man-house-hunting comparison)!

[tigger37708]

Great Job NOVA Buyers!!!
Way to hold the line.
Even with the diminished inventory available you have held prices down to mid winter level.
I admit I was expecting there to be more new inventory to look at by now.
but I guess the sellers have a similar thread going on somewhere.
probably goes something like this
"Sellers hold the line!! Don't list you homes until the buyers cave and start offering more money.
I Don't see how they can realistically expect that to happen with all the short sales and foreclosures out there.

Anyway

I did finally get a home and am pleased by the price I paid.

So if I were to be selfish I would now signal the market that it was OK to resume a modest and sustained escalation of home prices.

However I feel that there are other buyers out there still looking for reasonably priced homes.

So I will issue a final "Buyers Hold the line!"
and good luck to you all in finding the home of your dreams at a sane modest price.

[lqda4]

There is a tiny house nearby that was recently sold for $549,900. Truly ridiculous for over half-million bucks. Then I found out the previous owner had bought it 5 years ago for $600,000! Don't think the market in this area suffers that much.