Back in 2004 my husband and I decided to adopt from China. We waited 2 years to get on the referral list and then when we were told we were on the list, I found out I was pregnant. It was a tough decision for us not to finish the adoption, with all the time, money and emotions that went with it. However, I whole-heartedly believe in adoption. I think it is a wonderful thing. It does involve a lot of emotions that is inside you, time and money. Prior to deciding on China, were thought about adopting locally. But we found (in our area) that it would be very difficult. Doing it locally would mean the mother, right up to child-birth, had a chance to still back out of letting her baby go. We didnt want to take the chance on all the money you spend on the mother and baby, if the mother could change her mind at the last minute. I know that probably sounds petty, but at the end of an international adoption at least you will be matched with a child.
If you decide international, like others have said, be sure to find a reputable agency. AND look at the time frame on how long it takes. We were told that it could take 6-9 months, but it was more like over two years!
Good luck. Adoption is a wonderful experience. You have a wonderful heart to open for another child.