Kate, we just went through the ordeal of finding a house after relocating to a new city. It took us about 4 months to finally end up in a house. Hearing about the market, I didn't think it would take nearly this long. Prices are definitely down a bit, but so is the inventory level as I think people are afraid to sell here. I am not sure if I believe in the mantra of if it was meant to be or not, but going through the process, it made it easier to think that way. For our story, we missed a house that we liked in our target neighborhood by 2 hrs. Seller had countered another offer just before we were putting ours in and buyers accepted. After another month of looking, we had and offer accepted on a house, but at inspection found the deck was falling off the house and sellers didn't want to fix. We walked away which was tough (house is still on the market). About a month later, we found another house that had been on the market for over a year. With our luck, another offer came in the same day as ours and we got out bid. The next day, we found another house we really liked. Put the offer in, it was accepted, and we moved in last week. At the end of the day, we sacrificed location a bit. We are about 5 additional miles outside of the area we initially wanted. But, plus side: we got this house for about $45k less than the others. It is nearly 1000sqft larger than the others and is 20 years newer. So far we love it...
There were definitely times we thought about sacrificing certain things and as I said, location was a bit of the choice. But, we seriously thought about offering on homes closer to busy streets or much smaller (and cheaper). At the end of the day, we were able to hold out for a while and find a house we are really happy with. As of right now, I feel like not getting the 3 previous houses was the best thing. Although it was tough to go through the process. Good luck!!! - Mon Aug 18 2008, 13:21