Tammi,

There are a number of renters just like you that are seeing that as the market continues to shift, they are able to purchase a home at nearly the same monthly costs as renting.

You may notice that many areas in California are now seeing multiple offers on properties in the lower prices ranges. This is because it has become affordable again to own a home.

As others have written, it is time for you speak with a lender and get pre-approved for a home mortgage.
-or-
You can find a Realtor that can show you what homes might be in your price range, then decide for yourself if it is worth taking the next step away from paying someone elses mortgage, and start paying your own.

To answer the last part of your question, a home doesn't necessarily need to be a foreclosure to be a good deal. There are many motivated sellers in the market that will negotiate with you, and are a LOT better to deal with than the banks.

If you have time and patience, you might want to consider looking at short sale homes.

Hope this helps. Good luck.

Johnny

Hello Tammi,
My name is Sheila Hardy, I am part of the Hardy Team at Century 21 Hometown Realty. I have been a realtor here in the area since 1992 and have been a Top Producer for many years.
This is a great time to purchase a home. We are definitely in a Buyer's Market and our interest rates are historically low. There are so many great reasons to own your own home. Your biggest reason being it is a great tax deduction at the end of the year. We have several homes that are available .....some of them are foreclosures. If you would like me to email you these homes please contact me and I would be happy to give you addresses and I would be happy to show you homes. Please give me the opportunity to talk to you.
Thank You
Sheila Hardy

Well if you're interested in foreclosures - you might consider doing some research online: http://www.lispendensbytown.com http://www.lispendenslists.com

Two sites with a lot of links to foreclosure sites.

Good Evening Tammi, Your first step should be to contact a local and trusted mortgage company, stay away from the internet lenders. The mortgage company will be able to pre quaily you for a mortgage, they will tell you what price range you should be looking in, what your monthly payments will be and what you need to get together once you find a house. After you know what price range you are looking in, your next job is to onterview a couple of buyer brokers, make sure they are compatable with what your wishes are for a home. In most cases you can negotiate the buyer broker contract so it doesnt cost you anything, they will ge paid by the listing agent. Goo dluck with your pre quailification and house search.

Tammi,

I would say that a good place to begin is to get a pre-qualification for a home loan. That will let you know what price range you want for a home or condo. Request a good faith estimate and a monthly payment estimate from a lender when obtaining a pre-qualification. I can put you in touch with a local lender if you don't know one. Or check my website for a list: http://mintproperties.net/financing/lenders.htm

It may also be helpful to look through some listings of homes in the area you would like. I can send you some listings in an electronic folder from which you can save or reject listings of interest. Just send a request to me directly at tni@mintprop.com. Or search at http://www.CentralCoastRealEstateSearch.com

Another good place to start is by reviewing some of the blog articles I've written on the current market for foreclosures since that is where the best deals are right now. They are posted at http://www.SantaMariaRealEstateBlog.com I specialize in helping people with these types of purchases, and my background as an attorney is a great asset in this market.

I also work in the Grover Beach, Oceano, AG, and Nipomo areas and would be glad to assist you. My cell phone number is (805) 878-9879.

Sincerely,

Tni

Hello Tammi,

I would be happy to assist you in your search for a home. I can walk you through the entire process. Please call me or e-mail me with details on what you are looking for.

You can also search for homes on my website at http://www.slocoteamrhino.com.

Donna King
Broker Associate
(805) 441-7737
rhinodonna@kw.com