Hi! I’m new to this forum but have been lurking for a while. Would appreciate your thoughts on our situation. We are from Arizona and are looking for a vacation home in S.D. (Its 106 degrees in AZ). We looked at the above property and we actually like it alot- enough to have placed a bid in June. Negotiations stalled and we decided to wait as there were 4 houses of the same plan with only one “sold” in escrow but with a contingincy to sell their house. Incidentally, the buyer is a friend of the seller.
Suddenly, over the weekend two of the houses sold and are in escrow and the only one left is the one we like.
I know this is a terrible time to buy and am fully aware of the bubble. However, we haven’t found anything else that we like so much and also love the location and street. Financially, we would be able to put down 30% and the monthly payment would not strain our budget.
The question is should we bite the bullet and get what we want or should we wait for the market to fall further and risk losing the home? Also, how likely is it that two of these homes would sell so quickly in today’s market?
I have been reading alot of the discussions on this forum and respect your opinions. Thanks.
