Anne:
So you would think with everything on the market, we would have so many homes to choose from. Instead, hardwood floors and granite countertops drove us to a depression. I saw new things on Redfin today that had price drops. Finally! Ah but there are still quite a few that are unreasonably overpriced. I wonder how long people will wait with their homes on the market? Will some of them eventually sell? I don't know anyone else like ourselves (young, double-income, in the market for a single family.) We keep thinking that many of the people who would be bidding on the same homes that we're interested in would be families who have to sell other homes, so we'd be more attractive bidders. Anyone out there who is in our situation? What have you experienced? We could wait longer to buy, but we would like to move now.
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Anne raised the question on my blog as to whether or not you should consider a condo at this point. At your price point a condo makes a lot more sense. Land values alone make a SFH unattainable unless prices come down a lot more - which they might but not for many more months. Also, with mortgage rates down so much can't you raise your price point?
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