You will not receive funding beyond appraised value. Appraised value is what recently homes sold for in that particular area. So, for a seller to sell their home to anyone that is not a cash buyer, their price is going to be in the same price level as short sale property.
Look at "normal" listings, not at distressed property. Negotiate! You may be surprised. .... Happy funding, Rudi
I can understand why you are frustrated and it sounds like your agent does not want to deal with short sales....none of us truly do, but they can be done (I do it all the time) and if you have found some, it's worth sending them an offer, if you like the house.
Someone is going to buy it....why not you?
As far as your term "good" is that based on neighborhoods or based on your financing? FHA has requirements for condition of homes. If it's the FHA conditions, you might speak to your lender about a 203K FHA loan which allows you to include the necessary improvements in the escrow process. It's great for homes we might consider "fixers"...and frankly with short sales, you'll have time to get the loan processed while you wait for loan approval.
I'd be happy to speak to you more if you want to shoot me an email.
Yes it is hard to find a property in a certain price range sometimes. Yes short sales are are hard and time consuming.I thought that is why an agent gets compensated for their time.
We as agents must first try to accomplish what the client is requesting. I do not think what Angieng asked was so unreasonable .
The agent in my opinion did not want to work for his client .I think, he just wanted to find a quick and easy sale he could convince his client to buy. I am sure he is successful because of this attitude. Because he closes the deal, the easy deal
I went into real estate because of a agent like him. That condescending attitude that they know and you do not. I have noticed that attitude in agents that the client does not know what they want or have no knowledge of the market. No knowledge of the market might have been true in the past . The internet has changed that. I feel If agents want to be relevant in this changing market they must provide a service by doing the hard search or hard deal. Otherwise why not find your own house and have a lawyer do the paperwork.
Seems like your agent is honest and upfront.
I see that most relies do not agree with your current agent.
But your agent may be correct with his/her reason.
The first thing for you is to determine what is "good", and it is very hard for a home buyer.
There are many single family homes in these areas in this price range, but you need to consider:
(1) Is the neighborhood safe, clean, and quiet.
(2) How good are the neighboring schools?
(3) How do you feel when you walk around the neighborhood? Do you feel the area is declining, steady, or moving up?
(4) How much money you need to spend to fix the house after your purchase the house?
(5) With the total money (purchase + repair + ???), how is the deal compared to a higher-price house.
(6) Will you consider a condo or attached townhome, instead of a single family house?
If the agent is working on your behalf and not the sellers' I do not know why he has to talk and discuss things with the seller prior to your making an offer. If there are special required forms necessary they should be attached to the MLS listing or available. Have your agent write an offer and get a response from the seller. Get things going or you won't even be part of the game. Good luck!
Has anyone discussed you will also have closing costs on top of purchase price? Is that number configured into your ability purchase a home in specific area?
Short sales and foreclosures are time consuming to close IF they ever do SO if you searching for a home what is your time frame close within 45 -60 days THEN best search for other area(s)
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
The best way to see is to ask your agents to see recent sales from the MLS in the neighborhood to confirm this. Whether you choose to follow your agent's recommendations is up to you. I tell my buyers not to pay attention to ask price so much, and to look at recent sales and condition to come up with our offer price. There's extra work involved, but at least we know what actually happening in the market when we negotiate the price.
Good luck to you.
Best of luck.
Your agent should have put in the offer for you. and there are many homes in theAnaheim area.
there are also many townhomes in the anaheim area that ar bigger than many of the houses in that price range. I suspect your agent was just trying to get you the best property for the price you can afford. but if you ask to put an offer the agent should go with what you want ot do.
Prudential CA Realty
Get another agent. If you found some homes. Your agent should have looked into it or had you put in a bid on the home . It is pretty straight forward and in my experience the sooner you get a bid in on a bargain property the greater chance of actually getting an accepted offer.
There's an area in Fullerton where a good amount of home have sold since Jan. for between $280-$300k that are 3 bedrooms. They have been selling in this price range because they're mostly originals from the 50's vs. granite counters, new cabinets, new flooring & windows etc.,,,,but they're in a good area, with great lot sizes.
There may not be anything currently on the market like that, so you need to find an aggressive agent who will 'beat on doors' to find them!
First it depends on what you mean by "good." There are always major fixer-uppers on the market, but they will require $$ for repairs before you move in.
If you are purchasing your new home with all cash then you have much more bargaining power. If not, the majority of homes sell at "market value." I would ask your agent to run a CMA, or comparable market analysis to base your offer price upon. Offer price should be related more to the CMA than the list price.
I am unclear as to what you mean by "researching more with the sellers." With short-sales it is imperative to understand where the home is in the short-sale process, so maybe that is what you mean. What information is it you hope to obtain from the selling agent?
I wish you the best in your home purchase. If you would like further information please feel free to give me a call or e-mail. 714.797.3622