Progress report on the house buying

We put in an offer on a very nice, modest house that was selling for $79,900. It had been almost completely redone on the inside ... new sheetrock, painting, hardwood floors, kitchen remodeled. They had really done a nice job.

We offered $72,000 for it, knowing that they paid around $30G for the house, and there's just no way that the amount of work they did to the house was $49,900.

They had 'til Friday at 5:00P to counter-offer. At the 2:00P point, the word came in ... the counter-offer? $79,000.

Now, read that again. Asking price: $79,900. Our offer: $72,000. Their return: $79,000. My first response was ... well, vulgar, what would you expect?

We told the realtor that our only other offer would be $75,000, and to tell them that if they were going to counteroffer, don't even bother. The realtor's response was something along the lines of, "Can't believe they'd screw us like that." Yep, they'd be screwing her too. Unless a really sweet deal comes with a counteroffer, we'll keep looking. Which does suck only marginally, 'cause I think the wife and I are looking forward to getting into a house now ... WE GOTS THE BUG!!!