Wait to buy or just jump at the opportunity?

So a bit of a backstory. I live part time in Chicago / part time in Grand Rapids, MI. I started looking at houses in GR in mid 2019. I didn’t take it super seriously at the time because I didn’t really care all too much about what I was paying in rent. Going on 3 years later I’m having non-buyers remorse. Like most places I would imagine, the market here is crazy right now. There’s not much that fits my criteria coming on the market, and when it does, they’re closing in like 7-10 days and going for anywhere from 25k-35k over asking from what I’ve heard. I’ve asked a few people, including realtors, who give differing advice. Some saying that it’s just winter and it’ll be better in the Spring/Summer, and more of them are laughing and saying “good luck”.

I’ve seen listings pop-up that do fit my criteria but am up in the air as to whether it’s really worth it to just make the leap and throw an offer down. Anyone have any ideas about the broader market? Is it looking like it’s just going to be a long term “good luck” or is it just the season? (I would assume the market is different in warmer weather climates, but for the colder weather climate realtors, is it usually this crazy?)

submitted by /u/csdux1
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So a bit of a backstory. I live part time in Chicago / part time in Grand Rapids, MI. I started looking at houses in GR in mid 2019. I didn’t take it super seriously at the time because I didn’t really care all too much about what I was paying in rent. Going on 3 years later I’m having non-buyers remorse. Like most places I would imagine, the market here is crazy right now. There’s not much that fits my criteria coming on the market, and when it does, they’re closing in like 7-10 days and going for anywhere from 25k-35k over asking from what I’ve heard. I’ve asked a few people, including realtors, who give differing advice. Some saying that it’s just winter and it’ll be better in the Spring/Summer, and more of them are laughing and saying “good luck”. I’ve seen listings pop-up that do fit my criteria but am up in the air as to whether it’s really worth it to just make the leap and throw an offer down. Anyone have any ideas about the broader market? Is it looking like it’s just going to be a long term “good luck” or is it just the season? (I would assume the market is different in warmer weather climates, but for the colder weather climate realtors, is it usually this crazy?) submitted by /u/csdux1 [link] [comments]

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