How many properties did you look at before you bought?

[sfloriII]

Just curious:

I'm now looking for a house or townhouse to buy in the DC area. I've looked at a bit over 50 properties and haven't found "the one" yet.

Though three properties were nice enough for me to seriously consider, they each had contracts on them within a day of being put on the market. No breathing room for the buyer in the DC market!! This is incredible!!

I know markets are different all over the country, but how many properties did some of you look at before you got one?

I'm taking my time and won't be rushed into buying. I've got a great place to stay in the meanwhile...

[thornton]

It was two years ago, and the market was similar here in Cincy to what you are describing in DC. We looked for 18 months, and probably saw in excess of 100 houses before we found what we wanted.

We almost caved a couple of times, but in the end it was worth the wait.

[Kestas]

I must've looked at over 200 from the curb, 40 that I went in. At the time all the good houses were being snatched up the same day of going on market, so I was forced to play the same game. I went to an open house, liked the house, and signed a bid the same day. It was a fair deal and worked out well.

[engatwork]

You priorities will change over the years Stefano. We found the school district we wanted to live in and then looked at all the houses available in that district. I don't remember how long it actually took but it was around 6 to 8 months before settling on one.

[sfloriII]

Right now my priorities are finding a house in a nice neighborhood where the values will appreciate well over the years.

I imagine I'll move in a few years, but am looking for a house that I can raise a family in for the long-term, should that turn out to be the case.

Here in the DC area, congestion has gotten so bad over the years that I'll have to spend about $330,000 or so instead of around $250,000. I can do it: it means I'll have to put 20 % down instead of a much smaller amount. So I'll live without a little furniture for a while!

What makes me sick is seeing how much MORE house can be bought for $100,000 less in other areas of the country!! Friends of mine live in a huge stone house in Philadelphia for what a one-bedroom condo in the nice section of the VA suburbs costs!!

But it's largely money on paper. I'd be 68 before my house actually belonged to me on a 30 year fixed at this point! Just a better way of renting.

[dmorrison]

We looked for 6 years. Now don't get descouraged by that statement. When we moved to the DFW area we lived a a town called Grand Prairie, Noce town but not where we wanted to settle for ever.
So we started to look about 6 months after we got here. I don't mean active, get with an agent, run through a couple of houses, looking. We just knew that we would move in a couple of years.
My wife and I are the kind of people that, when they find what they really like, stick with that forever. We have never changed our decorating style, updated it but we still like the style we have liked since we met and started dating 34 years ago. Besides the classics never go out of style.
We continued to "look" for the right neighborhood, school district, and house style, that we would want and like. If it was up to my wife we would live in Williamburg, Va.
Actually we had, over those 6 years covered all of the metroplex and we had started to look in the Chicago area. We had set up a couple of weekends to go there and do some legwork. But each time something came up and we nover got to Chicago.
In 1990 I made Captain at American and commuted to the DC area for the Captain positon. I had found a house that my wife and would really love in Frederick, Md. Well in 1990 the war was starting, the economy was falling apart and the posibility of being moved back to copilot was pretty good. So I tranfered to the DFW base and we stayed. Had an offer on our house and had to counter with "were taking it of the market". they wanted a counter to that??? Which I could not fathom that they did not understand that " we were taking it off the market" Actually I did counter, I added $20,000 to the price and they paid all costs. We did not hear form them.

Well this has gotten longwinded.

We continued to look in the DFW area and in Jan of 92 we drove by the house we bought. Called the agent listed, which was a blessing. It would have all fallen apart if not for him. We bought the house shortly after that. we still love the house and will probably be here untill I retire.

Keep looking and have a little faith in God. He led us to this house and he will take care of you.

Dave

PS Have faith, 1 month before we found this house we ran across a great deal. Great house, great neighborhood, $75,000 below appraised value. The Dean of UT Arlington's house. The state owned it and wanted it sold NOW. But it wasn't right. We knew that and walked away form it. Actually we had put in a deposit and made an offer on Saturday. Thought about it on Sunday and realized it was not right. Called the agent on Sunday eve and retracted the offer. When we picked up the escrow check on Monday at 9am is was already sold.

[Glen]

Originally posted by sfloriII
What makes me sick is seeing how much MORE house can be bought for $100,000 less in other areas of the country!! Friends of mine live in a huge stone house in Philadelphia for what a one-bedroom condo in the nice section of the VA suburbs costs!!

Ah...don't be sick. $330K will barely buy a condo here in my neck of the woods!

Here in St Louis we ran into the same problem of houses disappearing soon after listing. Luckily it happened to our house when we sold it. I didn't hire an agent, I bought some signs, built a web page, and put a big ad in the paper. Had first contract in 7 and a non contingent contract in 13 days. We sold it for 2.5k more than an agent recomended asking too. So we needed a house right away! We bought a house that had been on the market for 6 months. Old folks had old paint and decorating that we thought prevented the sale, but after getting in we found a structural problem and termite damage that the home inspector missed. We are dealing with their insurance co. right now. Had he discovered the problem, we wouldn't have bought the house which we really love.

[G-Benz]

Our house hunt took about six months. We didn't know if we wanted to buy a pre-existing structure or build (after some of the horror stories I had heard about building).

So we bought a lot and found a couple of builders to consider. In the meantime, we continued to look at what existing homes were available in our price range.

This would be our second home, and after remodeling the crap out of our first one, we concluded that building a custom home was the way to go. The existing homes always had one less room, or one less amenity that we would have wanted.

If you choose to build, you will learn more about home construction than you care to!

[Marcb]

Here in Lewis County, I have only looked at 3 or 4 so far. There just aren't that many homes available that are in decent condition. I think I may soon end up learning more about building than I originally had intended.

[Mercedes Fred]

many houses bnefit from internet preview pix that at least help you rule out the duds, but nothing beats an interior tour. low interest rates make mortgage rates great but it boils the market up a bit though; good if you are selling, but those who sell must also buy; i know a couple that doubled their money on a house they bought after 3 years, but regretted ever selling because although they kept the difference, where they live now is far away from where they work and the neighbourhood is dull suburbia compared to the older victorian style street they moved out of.
we simply left the city and began looking in the country and found that on a half hours drive, one can get some really nice properties in the country.