Q: My wife and I have been house hunting with more or less urgency since this housing crisis began, around 2008. We really expected there to be lots of bargains and motivated sellers. We spent many hours house hunting in several different cities and neighborhoods. We made several offers on homes, and were always outbid. We were really surprised at how many of the homes sold for more than asking, and how few deals there were to be had.

My wife recently went back to work after staying home with our young children for awhile, and we decided to wait until her income can be considered toward our qualifications, so we can afford more. We’ve come to the conclusion that we just aren’t going to find what we need in the price range we’ve been looking at. I feel like all this "buyer’s market" stuff was misleading. Was there anything we should have done differently?

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