In January 2013, first-time buyer Martina started searching for a two-bedroom apartment with two bathrooms, a balcony, a washer/dryer and a doorman, if possible, on the Upper East or Upper West Side. However, she quickly realized that with her $1 million budget, two-bedrooms were hard to come by. So she focused on large one-bedrooms, specifically in the familiar Upper West Side, where Martina was renting a small one-bedroom. Her search was difficult and, although she was preapproved for a mortgage, she faced an uphill battle bidding against all-cash buyers.