Happy Birthday to me - NOW! :dance2:
03-20-2006, 04:16 AM
#1
Former Moderator
Thread Starter
Happy Birthday to me - NOW! :dance2:
I really thought I was going to be posting up a thread this morning announcing my first home purchase, as things were looking fantastic over the weekend. I got word first thing this morning that I lost out on my 4th home attempt. What a way to start a birthday 
I have looked at over 20 houses/condos and made 4 offers. The first 2 offers were complete lowballs, and I could understand those -but the last 2 offers have been for their asking prices with anywhere from 2-3% back for closing cost assistance, and both of those were lost out to people walking in with cash within minutes of my offer going in
Like I said, I had pictures ready and all sorts of stuff to start a thread this morning but now I'm typing about frustrations with this process. Anyone got anything uplifting to help me get my mind off this crap? Happy Birthday helps
I have looked at over 20 houses/condos and made 4 offers. The first 2 offers were complete lowballs, and I could understand those -but the last 2 offers have been for their asking prices with anywhere from 2-3% back for closing cost assistance, and both of those were lost out to people walking in with cash within minutes of my offer going in
Like I said, I had pictures ready and all sorts of stuff to start a thread this morning but now I'm typing about frustrations with this process. Anyone got anything uplifting to help me get my mind off this crap? Happy Birthday helps
03-20-2006, 04:32 AM
#2
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Happy Birthday Alex. Just keep your head up homie. I'm sure something will pop up when you least expect it, and be better than what you've already looked at.
03-20-2006, 04:39 AM
#4
Community Organizer
Forget houses, buy cars (and mods) instead. 
Happy Birthday.
Happy Birthday.
03-20-2006, 04:59 AM
#5
Registered User
Happy Birthday!
I guess the housing market is still hot in the price range and area you are looking. I had a similar experience a long time ago and it took me a few houses before my offer was accepted. In the long run it turned out for the best as the ones I had previously made offers on were outpaced in appreciation by the one I got. I also ended up with neighbors that were the best I could have hoped for including one who moved to a house near my current abode.
The people that bought my last house hade made offers on 9 houses I believe and the wife was so relieved she crying when she left after we accepted their offer.
Patience young man.
I guess the housing market is still hot in the price range and area you are looking. I had a similar experience a long time ago and it took me a few houses before my offer was accepted. In the long run it turned out for the best as the ones I had previously made offers on were outpaced in appreciation by the one I got. I also ended up with neighbors that were the best I could have hoped for including one who moved to a house near my current abode.
The people that bought my last house hade made offers on 9 houses I believe and the wife was so relieved she crying when she left after we accepted their offer.
Patience young man.
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03-20-2006, 05:19 AM
#8
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Happy B-day Alex!!
I was recently in the same boat. I looked at ~30 house and made offers on a few. Finally was able to close on a house last Nov. It's a very long and grueling process, but in the end, things will work out the way they're supposed to. Try to stay patient, and it might help to have a few
in the fridge just in case 
I was recently in the same boat. I looked at ~30 house and made offers on a few. Finally was able to close on a house last Nov. It's a very long and grueling process, but in the end, things will work out the way they're supposed to. Try to stay patient, and it might help to have a few
in the fridge just in case
03-20-2006, 05:20 AM
#9
Happy Birthday, Alex...I'm sure you will get something eventually. Are you making a completely noncontingent (no home inspection, no nothing) all cash offer? And are you prequalified for a mortgage? Years ago, when the market was really, really hot - not this last time - my ex and I lost about six houses to others, when we were not able to pay all cash. It is frustrating.
I thought the market had cooled a bit, but maybe supply hasn't caught up with demand down there. Also, be sure you have an agent who is very familiar with the area you want to buy in. If s/he farms that area like crazy, it possible to know about sales before they become official.
I thought the market had cooled a bit, but maybe supply hasn't caught up with demand down there. Also, be sure you have an agent who is very familiar with the area you want to buy in. If s/he farms that area like crazy, it possible to know about sales before they become official.
03-20-2006, 05:32 AM
#10
Former Moderator
Thread Starter
I couldn't have a better agent. Yeah - the sub $400K market is still white hot in Virginia Beach. I'm also playing in the most desirable locations in Hampton Roads with the better VB school systems.
Deb, I'm not playing with all cash - I've been trying to just get closing costs covered, as I'd prefer to not come out of pocket $10,000. The market looked like it was slowing this winter, as many houses were sitting on the market for months (the one I just lost had been on the market since September) but all of a sudden things are hopping again. The last 5 places I looked at sold within 2 days of coming on the market. My girlfriend lucked into a really nice place (for the money) the day it came up - I wish her luck would rub off on me.
Deb, I'm not playing with all cash - I've been trying to just get closing costs covered, as I'd prefer to not come out of pocket $10,000. The market looked like it was slowing this winter, as many houses were sitting on the market for months (the one I just lost had been on the market since September) but all of a sudden things are hopping again. The last 5 places I looked at sold within 2 days of coming on the market. My girlfriend lucked into a really nice place (for the money) the day it came up - I wish her luck would rub off on me.