Search This Blog

Sunday, March 9, 2014

This housing market is brutal.

After losing another bid, I feel a bit deflated. I just don't want to deal with the stress, so I told my realtor that I'm done for now. It takes an emotional toll on you. You find a house, and you fall in love with it; only to have it snatched away.

Many of these sellers have dollar signs in their eyes. 
My first bid was a house in Daly City. Someone offered $100K over asking (of which 75K was over the house's worth). Seriously? Eventually the housing market is going to tip the other way. Did no one learn from the previous housing bust?

My second bid was a house in South City. It needed a little work but mostly updating. I loved the yard which would be perfect for Daisy. It was also nestled between 2 other houses for sale both of which were in turn-key condition. I figured it would be overlooked so my chances looked good. My offer was among 26 other offers! The seller went with the highest bid.

My third bid was a cute house in Brisbane. The seller seemed motivated, and I was definitely interested even though it lacked a garage. So I made an offer. The seller countered back requesting an all cash offer! The house is a short sale! Even my realtor said their motivation seemed a bit sketchy. I have a feeling they wanted to take the money and run.

This last bid was a house in San Bruno. I was so close this time around. I placed an offer above their asking price and got a counter offer. I accepted and placed an extra $20 grand to the original bid. The seller went with another counter offer. I was shocked. I don't know what the terms of the sale are since it's still in "pending" status. I'm curious as to what the final offer was. I just don't get this market.

On the bright side, I have been getting one step closer, but that doesn't make it feel any better. At this point, everything else in my life, professionally and socially, is going well. Why add a stress? I'll just continue to add to my savings account with each paycheck. But darn it, I really wanted to chronicle my homeownership with respect to vintage decor and design. That would have been my next tab on this blogger. Oh well.

When the time is right, the right house will be available. Right now, it's just a greedy seller's market.