Real Estate Guru's..... I am looking to take that first step in my life, and I understand now a days you can get a house really cheap through foreclosures. Do any of you guys know a good realator to go through? Or a good area to look? I am in the range of $100,000 - $200,000 Any help would be great!
Caveat Emptor. Foreclosed houses are cheaper, but you won't get the same protections, will likely not give you the same value, and are more likely to have defects. Don't be so soon to make up your mind about wanting to buy a foreclosure when you can get a perfectly good non-foreclosed home for cheap in this market anyway.
What area are you looking for? We just bought a house for 145k and it is a good starter house, not a foreclosure house. WE found a foreclosure house for 160k but it had way too many defects so you can definitely find a good house, depending on the area. I can recommend the realtor we used...
1. Your price range is HUGE. There is a big difference between 100K and 200K in Houston, TX and the surrounding areas. 2. Forclosures, in this market, are not necessarily cheaper than normally sold homes, especially in a lot of the suburbs. 3. Forclosures tend to be in much worse shape than a regularly sold home, and any savings probably will just go right back into the home. With all that being said, this is a GREAT time to buy a home if it is your goal to live in one. New homes are being sold extremely cheap, many times only a couple percentage points over cost, and older home prices have remained flat in many areas and with real interest shown, good deals can be had. My advice is to: 1. Pick an area that you want to buy in. Be fairly narrow in your search. Houston is like 20 towns in 1 when shopping in real estate, with every area having its nice parts and bad parts, especially with school districts, etc. 2. Find a good realtor for that specific area and go with them. 3. Narrow your budget down to a 10K or 20K window and stick with it. Some areas right now to look at might be Klein or Champions area. Established area with good school district and good home prices. Its close to the Woodlands (without paying their prices/taxes) and Willowbrook for using their shopping/eating, its closer for commute, and within your range, you can find a nice comfortable house to live in.
^ What he said...But the real question is.... Are you guys buying the home together...Enquiring minds want to know...
If you like the NE side--Kingwood, attascocita, fall creek, the commons, eagle springs, summer wood-- contact susan brown at 281-812-8299 I've worked with her before, she's a nice lady and has been in the biz for like 20 years
My parents are looking for a new house. They've narrowed to a couple of neighborhoods, but they can only afford foreclosed homes in those neighborhoods. The foreclosed homes I've seen are effing hilarious. The previous owner might as well have taken a dump in each room...couldn't make the house any worse.
lol. Some people that buy foreclosed homes wish that were the only problem with them. Hell, your builder/contractors may have done that.
You'd be suprised at how often that happens, not necessarily crapping all over (which has happened), but just destroying and vandalizing the whole house. Its pretty stupid if you ask me. Its not the banks fault that a person cant pay back a loan. There is no entitlement when it comes to such a valuable thing.
My wife and I looked at a foreclosed home a couple of months ago, and it was in near-perfect condition... except that the owner took all the kitchen cabinets with him when he left.
