A New Jersey couple made 15 offers and went $65,000 over the asking price for a dream home – but their bids were still beaten.
Disgruntled want-to-be homeowners Tim Khalil, 30, and Kelcie Lesko, 28, bid on different properties in Monmouth County in hopes they’d be able to buy their first property.
Those dreams were dashed when the 15 offers they’d submitted had all been turned down.
In their last attempt, they found a two-bedroom home with plenty of space and a backyard.
They told NBC Boston 10 they sensed it was the one and offered $65,000 over the asking price of $315,000. The seller shook their hand and said it was between them and another buyer.
Tim Khalil, 30, and Kelcie Lesko, 28, bid on different properties in Monmouth County in hopes they’d be able to buy their first home. Those dreams were dashed when the 15 offers they’d submitted had all been turned down
But they were once again rejected.
Lesko told NBC 10 Boston: ‘It was like a slap in the face telling us, “wake up, this is just not for you.”‘
She said the housing market makes it almost impossible for them to buy a home even though they make good money and have stable jobs.
For now, the couple has given up on buying a home and are continuing to pay a little under $3000 a month for their two-bedroom apartment.
Lesko didn’t immediately reply to DailyMail.com.
In Monmouth County, New Jersey, the medium listing home price on realtor.com is at a staggering $790,000.
New homebuyers don’t just have to worry about a mortgage. In New Jersey, high property taxes are currently at 2.26 percent compared to the national average of less than one percent, according to SmartAsset.
Currently, the average price of a New Jersey home is over $550,000 – 151 percent above the average US property amount.
Lesko said the housing market makes it almost impossible for them to buy a home even though they make good money and have stable jobs. For now, the couple has given up on buying a home and continued paying a little under $3000 a month for their two-bedroom apartment. PICTURED: Marlboro in Monmouth County, New Jersey
In Monmouth County, New Jersey, the medium listing home price on realtor.com is at a staggering $790K. Pictured: Beach along the Jersey Shore near Asbury Park in Monmouth County, New Jersey
But there may be some good news for young couples looking to buy their new homes.
Those counties most at-risk for a crash in New Jersey are Essex, Passaic, Sussex and Union counties.
Home shoppers may wish to take advantage of softer markets as down payments have crept to an all-time high.
The average down payment for US homebuyers is now a staggering $67,500, new data revealed.
Elevated mortgage rates mean homebuyers are incentivized to put down more money upfront to soften the blow.
This, alongside rising house prices, means down payments over $400,000 are now the norm in some American cities.