Are there any deals left for home buyer?

I mean really, are there any deals left for us home buyers. If you don't act quickly, you can find yourself missing out a really good option. Foreclosures, short sales, auctions, etc. Which are the best options?

We have looked at all of the above in our quest to find our "dream home" and yet still do not have a clue which option is better. Honestly, I believe there is hestitancy by the banks to even list these homes in "as-is" condition anymore. As they hope to get more along the lines of what they original loaned the previous owners or at least get current market price. 

While a year ago, and I mean a year ago, when we were just "thinking" about buying a home you could find great properties at below market costs in really great areas. According to a recent article I read in  the  Real Estate Economy Watch, more and more banks are trying to recoup as much money as possible. They are ok with keeping a house a bit longer for a better return on investment. Some are going as far as not listing a house for 6-8 months, hoping to  list when the market is at peak for the area. 

We recently viewed a home that had new carpet, freshly painted walls, and a stove. This is not typical in a foreclosure, or auction. Especially the ones listed by a bank. We were stunned. While on one hand it was nice to know we could move right in without having to do much work, on the other hand it seemed the work was minimal and did not warrant the extra $50k on the listing price compared to some of the other foreclosures listed in the last 9-12 months. 

Then you have the short sales, I have heard nightmares about folks being in limbo on a short sale deal for up to 9 months and then only find out the bank won't take their offer. Ouch! That is a long time to be in limbo. I mean 9 months. That is a typical time for a pregnancy. Really??? I guess if it is "the" house then it is "the" house, so you have to wait. We are way to impatient for that process. 

And then finally, the auction. Some of these do not even allow you to view the home. You have to a do a lot of research work for these properties. We were interested in one but the idea of not getting the home was pretty overwhelming. We went by the house, looked in the windows. Searched on-line to see if there were any interior pics. Used Zillow and Trulia to view the property history. And still felt like we did not know enough to place a bid. I mean the starting bid price was great but who knows what the final  sales price will be. And will it be within our budget? Or will we tap out early?  So many unknown variables. 

So really, what is better - a traditional home purchase or trying to find a bargain? And do any bargains exist?

Home Buying... not for the Faint Hearted

Who knew that buying a house was going to be so complicated. Six bids later, competitive bids at that, and still no house. And we have bidded on two homes twice. Sheesh! I'm leaning on faith to believe we just haven't found the right house. But it still has me wondering - will we ever find the right home?

We started our search a year ago. We did our homework - attended workshops, created our needs list, and decided on a location. Not to mention we have saved and saved for our quest of the American dream. Any extras left over at the end of the month are applied to the "Dream Home" fund as well call it.

According to Zillow's blog article, 4 Real Estate Trends for Summer 2013 - bidding wars are starting to become routine in certain areas, given the small amount of homes for sales. Really?!?!? No wonder we are spinning our wheels and meeting the competition at every turn. Not only is the market slim, but investors are eyeing the properties too. Sheesh! 

Well that doesn't make me feel better. It makes feel as though we have to be more aggressive than ever. When a house comes on, and we're interested, we need to get a jump on seeing it first. And if it is go - the bid has to be delivered within 24 hours of viewing it. We need to scour all available databases and areas for available properties. Basically.... I guess we just need to kick it up a notch.

Are you buying a home? Frustrated with the process? Share you stories with me... I would love to hear them.