Holly and I have to end this crazy race against time to buy a house in time to get the $8000 from Obama. We did this for several reasons, in no particular order:
1) We feel like we are rushing to find just any ole house so we can get the tax refund.
2) If one of us were to lose a job we would be hurting financially. We are trying to keep all of our bills dependent on one paycheck.
3) We want to buy a house that we really love.
4) We would like to save up a larger downpayment (~20%)
So yes, the house hunt is off. On the bright side, this leaves a good chunk of money that will go straight to our student loans :)