Monday, March 21, 2011

Housing troubles?

After visiting a dozen houses late last week, we went back on Sunday to get a second look at 2 houses we really loved. After further thought and he second opinions of friends, we decided to place an offer on one of the houses.

The decision to make the offer was easy because the house was too good to be true; it is well-maintained, reasonably historic in its Chicago bungalo-ness, has plenty of finished living space, and is priced fairly low for the neighborhood. We did think we could get into this neighborhood, price-wise. But this house came open and so we felt it was right to go for it.

It had been on the market only 4 days when we submitted an offer. We thought we we were fast enough to beat others to the punch, but alas we are now in a bidding war with 2 other prospective buyers. We raised our price up to the top of my comfort level, and will know more by tomorrow night.

The optimism of this morning has melted to big disappointment, but with the new offer there is still a glimmer of hope. Realistically, though, it was and remains a long shot. The problem is that our emotional investment is higher now!

-alan

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