Buyer's market? Really?
I'm trying to buy a house in the Chicago burbs, but every move we make seems to be wrong. We are moving from DC, where the market is strong and I still had to lose money on my house. Chicago markets are supposedly at 2003 prices, but sellers or agents are still pricing very high. After being shut out of several deals, we finally found a potential house for us. We thought it was odd that after being on the market a year, the owners were only willing to show it one specific hour per week. We did our research and found it on a foreclosure list. Yes, the owners didn't tell the agent they were being foreclosed on. Apparently, their deal with the bank is that they can "try" to sell, so they are keeping it listed while they try to make some business deals and get out of their financial troubles. They figure the bank won't get around to evicting them for a year or so. I feel for them, but aren't they misrepresenting the situation to bank? Geeze, I could buy their house and fix their financial problems right now. Meanwhile, very little new comes on the market, and what is decent sells in days. What is this nonsense about it being a buyer's market?