House hunting in a market meltdown

We are currently in the market for a home. I know, many would say that right now is not the best time to buy or sell, but the Marx family mantra is buy high sell low...



There are so many homes for sale but, it doesn't seem that anyone in Utah has heard that there is a housing bubble, that the economy is slipping. Prices are sky high and even when there are four houses right within 50' no one seems to want to drop their price (There are actually 5 for sale signs on that street, each home right next to each other but you can't see the fifth because of the large boulders in the way, it is the house that is unfinished on the left).

We put in an offer on a home further West and North than we originally wanted to go. Everything was just too expensive or we felt that the compromise between what we want and what we could afford was just too great.

The great thing is that the home is older (not old) and is landscaped, there are mature trees, you know all the things that come with homes that are older. The house has plenty of room. Already our heads are spinning with the changes we want to make (remodel the kitchen, bathrooms, master bedroom, add cold storage, change the layout of the main living area, refinish the basement etc).

Wish us luck in finding a home!