OMG, I FINALLY got a house!!!!!!!!
Thread Starter
Friendly Neighborhood Ogre
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OMG, I FINALLY got a house!!!!!!!!
Oh man, you guys have no idea how happy my wife and I are right now!!! After all the outbidding and getting screwed over by private investors, we FINALLY got a house, and not just a house, but the house we really wanted!!!
For those of you not in the loop, the housing market is "great" and all, unless you're trying to buy a house!
There are a ton of properties out there, but the problem is that there are an equal amount of private investors with $500,000 in cash that are just waiting to suck up a property under your nose. Even if we offer $25k OVER the asking price, we still get outbid by private investors who have the same amount in CASH that they just throw down, then they fix up the house and sell it for $100k more than they spent. This is what they do for a living and it makes it so hard to get a house in this market!
Needless to say, it's been over a year since we've been attempting to buy a house and we FINALLY succeeded! YAY!!!
For those of you not in the loop, the housing market is "great" and all, unless you're trying to buy a house!
There are a ton of properties out there, but the problem is that there are an equal amount of private investors with $500,000 in cash that are just waiting to suck up a property under your nose. Even if we offer $25k OVER the asking price, we still get outbid by private investors who have the same amount in CASH that they just throw down, then they fix up the house and sell it for $100k more than they spent. This is what they do for a living and it makes it so hard to get a house in this market! Needless to say, it's been over a year since we've been attempting to buy a house and we FINALLY succeeded! YAY!!!
Good for you. My wife has been dealing with this trying to get her clients into homes. It's a pretty tough market right now. Lots of first timers trying to get IBTL if you know what I mean. It is a really good time to buy though. In a couple of years you'll have some fat instant equity to "move on up".
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From: Downtown San Jose, CA
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Same thing happened to my wife and I... took us forever to find a spot. One house ended up being sold for 20k less than we offered because the guy came in with cash.
Congrats man!
Congrats man!
