Asked by Mike_fl, Skokie, IL • Thu Sep 3, 2009
I've been looking to purchase a house in Glenview, IL for the last 6 months, and I become frustrated with the results so far. I'm looking for new construction with 4 bedrooms, 2 car garage, with good schools in the area, that also looks decent. Sorry, but the 40 year old ranch houses with small bedrooms priced ridiculously high (550-600K) is not my ideal house where I could picture myself living for the next several years.
I found a house meeting my criteria last week. Foreclosed property, brand new, within my range (550-600K). I made an offer (a couple of thousand more than the list price) and guess what... someone outbid me by 200K. Can you believe it?
My broker keeps telling me that this is a good time to buy and that the prices are starting to g up. Honestly I do not see it, but I also do not see the prices on the properties I like coming down (these are usually priced at around 800K and don't change much). Are the prices likely to decline or should start looking elsewhere?
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