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For those who have bought a home

  1. lioneyes

    persimmon / 1286 posts

    @littlebit7 walled you!

  2. Littlebit7

    nectarine / 2243 posts

    @nwm: this is a good point. I had it in my head that I needed to wait until inventory was high. Maybe we should start looking in earnest at the end of this fall but we then potentially wouldn’t close until 2019 which would in fact work in our favor

  3. Becky

    persimmon / 1390 posts

    I’m in WNY in a small, popular town where houses in our price range often sell the day of the open house or before they officially go on the market (so all you see is a “Sold” sign because the realtors showed it before the”For Sale” sign went up). Houses that are priced right and on certain streets sell right away so people unfamiliar with the market get pushed out because they think they can wait a day or two to go see it. We were one of multiple bids on our house . We sat down with our realtor immediately after seeing the house so we could put the offer in right away (the other bidders did the same) and heard back the same night. I want to say time from offer to close was just over 60 days which is standard inNY state from what I gather. We learned from buying our first home not to think of the house as yours until you close because of the bank end. We bought in the winter which was good for us. The May-September is the busy time here and houses go flying. Our first home was a much longer process and we ended up buying in a less sought after neighborhood (we were looking in a city along with a lot of other first time home buyers and bought on the outskirts because we were priced out). Offer to close was more like 90 days (offered sometime in early March, moved in mid June).

  4. Portboston

    persimmon / 1281 posts

    We are in a hot market. (Portland OR) Our first house we bought in 2013 when it was starting to heat up. We looked at something like 21 houses in 14 days. Put in 3 offers and our 3rd was accepted. Closed in about 40 days. We were in a month to month lease at that point.
    Fast forward to summer 2017, we started looking for a larger (forever) home. It took us 10 months and 4 offers this time. About 25 days from start of escrow to close. We took some extra time to paint and then moved in.

    Both purchases were in summer. The first one we offered in July and closed in August. Second one we offered in June and closed in July.

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