I need some major house buying vibes....Update #34

[AnnieW625]

We have put in two over asking price offers on houses in the last two weeks and lost both of them. The first one we lost because the seller wouldn’t accept a contingent offer (we didn’t have an accepted offer yet on our house) and then accepted another offer before our house went into escrow. We offered $15k over listing price on the first house. The second house went on the market on Thursday 6/25 and because it was an almost identical clone of the first house we put an offer on in we put in another over asking bid (this time we went $35k over asking) before we even looked at the place on Thursday night. We looked at the property on Saturday and loved it....we wouldn’t have had to fix anything so we were okay with the over asking bid. That place is now listed as pending for $55k over listing. The market where we are moving to is super hot right now because we think there is a big influx of people from Orange County, CA who are only moving there because they can now work from home all of the time and they get a much larger house for less money. We have found an additional 6 houses to look at this week yet none of them seem perfect; commute for me might be a little far (for when I go back to the office...20 minutes to train station and then an hour on the train), no pool, not as many trees, no three car garage or side access, not as nice kitchen or bathrooms.....the list could be endless. We passed on a few homes now that I wish we wouldn’t have. I am having major issues with fear of missing out as there are some houses I think we should make an offer on, but there is something dh doesn’t like about them, and the kids start school the second week of August. We have known about this move for 3+ years now and it is crazy to think we are running out of time. Dh is most likely going to have to start going back to the office next month. We have a 30 day escrow on our current place.

We could buy a new home in a development for not much more than the over asking prices we have put the offers on, but the property taxes are going to be about $12k a year (vs. the standard 1% to 1.25% on the more established homes....those rates would be a max of about $7k) and the development doesn’t include any kind of school; the schools are 3-6 miles away and school bus service isn’t guaranteed. If there were schools there I would consider the high taxes an investment.

I am now dreading that we are going to have to rent now and rent on a house or in a nice apartment complex in a great neighborhood is $400 more than our current mortgage payment. Plus we would have to pay to have the bulk of stuff stored, and we’d end up paying movers twice.

FWIW I have been awake now since 3 am because I can’t sleep. It is now 5 am and I need to get more sleep, but I can’t sleep and I have to start work at 6:30.


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[KpbS]

I’m sorry, Annie! Don’t give up yet. Keep looking and I’ll pray something in your price range is listed that is great for you guys.

[SnuggleBuggles]

I hope something good works out. I would really fine tune your list because it sounds like you won't get to be as choosy as you want. Is a pool, 3 car car garage, upgrades...deal breakers? Those sorts of things can be fixed over time. Focus on location as best you can then go from there.
If you wind up renting, it won't be the end of the world. You can even do something really fun like a loft in town or something just unique that you wouldn't ever otherwise get a chance to do. My friends loved that when they moved to our city- they lived in a super hipster neighborhood and just enjoyed that vibe while they continued their house hunt. And they wound up with the perfect house!

[mom2binsd]

I agree, prioritize your wants, a 3 car garage seems a lot, especially if you are a family of 4, and don't have a lot of large things to store like winter equipment etc. A 2 car garage is totally adequate. Where you will be living I'd insist on a pool, it's so hot there and you will use it all the time. Maybe homes that aren't turn key and needing some renovation. Hope you find something soon!

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[DualvansMommy]

Sending you good vibes!

I agree; prioritizing is key for you guys especially with time running out. Renting in a fun neighborhood is not a bad idea, although I know PITA to store stuff and move again.

FYI; when we were house hunting 13/14 years ago, we had a similar list as yours. 3 car homes is common in my neighborhood but not every home has it, and when we came across our current home it only had 2 and outdated kitchen and bathrooms. But otherwise ticked everything else. We jumped at it and added a shed for backyard as our compromise with the 3 car. A pool would be a must if I were moving where you are, and outdated kitchen etc is fixable. You can lower the asking price so you have some cash to update it. And adding a pool if house doesn’t have one. Important things for me is the square footage, plenty of storage, layout and location.


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[sariana]

Did you ask about putting in a back-up offer? Houses fall out of escrow all the time. Some sellers won’t take back-up offers, but some will. So it doesn’t hurt to ask.

[bisous]

Sending you prayers and good vibes! I'm sorry you are struggling. It is very stressful and I hope you find a solution that works out great for you!! Crazy about the working from home bit! I can't believe the crazy ways that our lives are changing in response to this pandemic!

[California]

Sending good mojo your way!! It’s such a crappy feeling to have your mind racing and be unable to get to sleep. Home buying and selling will definitely bring that on! It sounds like you’ve gotten close, crossing my fingers for you that third time is the charm. You are in the middle of a stressful process, but it will end and you will find a home. One day at a time you are getting closer to that moment.

[WatchingThemGrow]

Just prayed for you. Are you feeling calmer yet?

The cool part is: You’re in the right spot to buy right now! You’re under contract and ready to buy whereas you weren’t really before... I’ve not heard of any contingent offers being accepted in the last many years. All the looking/offering you did in recent weeks was just getting information about the market, the other houses, etc,

Also, you’ve now started to think about loosening up your must have list....and flexibility (especially in a pandemic seller’s market !!) is vital. I think it’s kinda like the right dog- it will find you! We had “covered parking” as my #4 on my list and I’m not dying without it. Would be nice...but we are okay without it.

And the timing for houses is one of the hardest things. We (as BBB shoppers, esp.) want ALL the options laid out so we can compare them all. What’s different with housing is that timing is so fluid. There’s a family (ha-from CA!) across from me who said they were going to list on the 18th, then I heard the 22nd, and today is the 30th(?) and there’s still no sign in the yard...and none of the signals that showings are happening soon. All to say, just be patient...you’ve gotten yours under contract...so wait and see if that holds while you watch the new listings popping up, maybe join a FB mom’s group or a neighborhood list serve for your new area and see if there are any previews of homes going up for sale in the coming weeks. You just never know what is coming up during your shopping time!


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[gatorsmom]

I have no words of advice, just p & PT and positive vibes. House hunting is stressful but more so, I’m guessing during COVID19.