Home Buying in 95826>Question Details

Gabriele Tor…, Home Buyer in Sacramento, CA

I am looking for a 'budget' house, no mobile homes, that cost less than $20,000. Do you have a realtor who specilizes in cheap homes?

Asked by Gabriele Toremann, Sacramento, CA Wed Jun 20, 2012

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8
Hi
Surprisingly there were 7 homes in the Sacramento that sold for 20,000 or less in the past year, all were sold for cash and all were big fixers or had been "red tagged" for code violations. Most were in the Elder Creek Fruitridge area, so find an agent that works that area. How to do that? visit open houses in the area is one way.

There were also a few in Stockton and Modesto (same issues)

Not impossible, but you will most likely need cash.
1 vote Thank Flag Link Wed Jun 20, 2012
Hello Gabriele, What is the maximum payment you can afford? You may consider qualifying for a small mortgage with half percent down payment program with a minimum 580 fico score which can contribute towards your closing costs as well. It only takes a few dozen questions to qualify you in minutes for what options you may have available to you.

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0 votes Thank Flag Link Sun Dec 30, 2012
Gtoremann,

They have told you that "budget" house means "huge repair budget" house.

$20,000 is enough for a down payment. It won't buy you a habitable house outright in the Sacramento metro.
0 votes Thank Flag Link Sun Jun 24, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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As eluded by my colleagues, the only homes you can buy for around $20k are fixer uppers, possibly in the oak park area or del paso heights.
You can use this url http://www.metrolistpro.com/
to search for homes that would meet your criteria. When you have zoomed in to an area that you are comfortable with, and identified the homes that would suit your needs, feel free to contact me or any of the other realtors in the area.
0 votes Thank Flag Link Sun Jun 24, 2012
If you truly are determined to stay under $20,000 and do not want a condo, you
are unfortunately priced out of the market in this area. The land under a home
is going to be worth a minimum of 15,000 so the numbers will not work at this
time. Although you don't want a mobile or condo, that might be the first step for
you on the ladder to home ownership. Your only other choice to try to accumulate
funds so you can purchase in the future. Good luck to you.
0 votes Thank Flag Link Wed Jun 20, 2012
Are you looking for a heavy fixer? Occaisionally there will be a fire damaged structure that can be purchased for that little amount of money.

If you are looking for a nice home to live in, you really need to start with at least a 65,000 budget, and be looking in 95815,95838, 95660, 95824, parts of 95820 and possibly 95822. Goes up from there and there is little inventory and many buyers, so we are seeing multiple offers on many properties.

That is the state of the Sacramento market.

Good luck.
Kylee
0 votes Thank Flag Link Wed Jun 20, 2012
I think most Realtors would be happy to assist you with your home search. Lauren is right, there is little inventory in that price range. It will be a challenge. You should pick a Realtor then register on their website to receive listings as they come on the market. Coldwell Bankers site is Californiamoves.com.
0 votes Thank Flag Link Wed Jun 20, 2012
In all of Sacramento, El Dorado, & Placer Counties, there is only one home under 20K, and it's right at 20K, and it's a 1 bed / 1 bath 600 square foot condo short sale listing. That's going to be a tough price range to work in - you may consider renting or saving up for a larger purchase price. Good luck!
0 votes Thank Flag Link Wed Jun 20, 2012
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