I would suggest a few things. First, find out what prices are in your area. Find a real estate book ( free flyer at supermarkets etc.) and look at what houses are selling for. See if you can afford one. If all the houses in your area are selling at $400k and up and you can not do more than $150k you have 3 options. 1 move to a different area that you can afford. 2 act even poorer than you are, save all the money you can for a downpayment. Cut out luxuries like eating out, watching cable tv, going to movies and so on. Over time you will save a decent amount. and then 3 wait awhile longer. See how prices act. I bet they drop.

The $8k bribe for homebuyers is effectively dead now. within 9 months prices should drop more than that amount. Over the next 1-3 years the alt-a crisis will appear and prices will have to react in a downward manner. Prices in most of the country are still above historic norms. They have a lot more to drop.

You should ask about a FHA loan. Those are available still. Low interest rates, low downpayment, but higher fees attached. Give them another 6-12 months they may not be so available. Right now the FHA is having troubles financially, it is likely to get worse. If you are a veteran ask about a V.A. loan. They offer almost nothing down loans. You need to fill out a form then wait awhile to be approved.

Finally, look at foreclosures. Some of them may be very affordable right now. But do not look at auction homes. You can find that they have several other liens against them besides the banks mortgage.

If you can get a prequalification letter to show you can get a mortgage ( or a bank statement showing cash) you should be able to find a realtor to work with you. If you find out that your income is not enough to buy a house consider a trailer, or better yet a double-wide. They are almost like a house, but not quite as nice. A double wide may cost very little more than a 14x80 trailer would. after all, a 28x40 double wide IS the same size, just laid out differently and requires only more towing charges and labor to put together on your lot.

You may call up different realtors and ask if they specialize in foreclosures and short sales. They should be used to people looking for cheap houses there.

Nathan,

As Donna pointed out, your expectations may be unrealistic. Many buyers in this market have the mistaken belief that they can fit their high expections into homes in a lower price bracket, i.e getting a 300k home for 200k. You must be realistic. When your expections meet market reality, I am sure you will have no trouble finding a qualified agent to work with you.

Good luck

I cannot understand way you are having a hard time getting an agent to work for you. Are your requirement unrealistic? I know that everyone is looking for a "good deal" when actually anything you buy in this market is a good deal.