Midlo house market
My husband and I have been trying to buy a house in the midlo area, preferably 23114 zip, as we are expecting our first baby in December and we have family in this area planning to help. We live in northside right now and are financially established. We’ve had a really tough time so far and feeling discouraged! We’ve been looking since May and have so far put offers in on two homes and lost them both. Each house received offers of a really high amount over asking that we can’t seem to compete with, we’ve been the first offer both times. Most recent house in Walton Lake neighborhood going minimum 40k over asking with escalations which is at the very high end of what the house is worth. House was listed at 595k and we went up to 630k with no contingencies but were still out bid. Budget is +/- 650k hoping for a 4-5 bedroom updated home, is this not reasonable? Is this market dynamic normal for the area? Trying to figure out if we just need to account for a higher bid going forward or if this will slow down some. TIA