Jojo

Patrick Mahony is correct, there are some great deals out there. I would highly recommend Patrick Mahony for your real estate services. I would be more than happy to talk with you about your financing needs.

Jojo,

Fortunately there are many great deals right now almost everywhere you look and Gilbert is not an exception. There are some 2 bedroom townhomes and condos starting at around $90k, 3 bedroom single family homes start at around $105k.

If you want to get more property for the money you can also try Maricopa or Queen Creek, if that is even an option for you.

Timelines to close the deals will vary. If you are closing with an independent owner you should expect a 30 days closing. REO (bank owned) properties will take a bit longer, around 3-5 days to respond and 30-45 days to close. Short-sales are the slowest and more time consuming of them all. The bank can take anywhere from 30 - 90 days to respond, then you will have about 30 days to close.

The best action plan will be to get with a good Realtor who can guide you. Then you will have to get pre-qualified. This is important because you want to make sure you are looking at the right price range, and your payments will be as expected.

Most home purchases are completed in 30 to 45 days from beginning to when you move in. When does your lease expire? I agree, moving direct would be the best!

I also live in Gilbert and know of properties in the $100,000 range. It would be best to further discuss what your wants and needs are to further define he best way to help you.

Hey JoJo,
Yes there are great deals in Gilbert. I live in Gilbert and our a big Fan of the community, schools, and city services.
Currently there are 7 homes available from 100K to 125K.
A mortgage loan of about 1ooK will cost you about .....

100,000 loan
30 year fixed term
at 6 percent
tax of 2k per year
home insurance $500. per year
Mortgage insurance $500.
Your principle and interest is approx $600. per month
Your Principal , interest, taxes, and Insurance, approx $850 per month, basically total payment.

That's on 100K loan, there are down payment, and FHA programs, depending on your credit, income, and terms.
You need to talk with a good loan officer and select whats best for you.

If you could swing 125K or 150K there are twenty homes to choose from.

The whole process takes about 30 days, once you select a home.
I would recommend you speak with Gary Miljour, he`s is very good with first time buyers. http://www.garymiljour.com/ he`s in Gilbert.
My numbers are very close a little on the high side, programs are different and can change your monthly payment.
I would be happy to help you find your home. Contact me if you have any further questions.

Good Luck
Patrick
480-543-9899

Jojo - $100K in Gilbert will be very difficult to find. There are currently 2,196 single-family homes listed for sale in Gilbert. The lowest list price is $104,900, and there are four others listed for under $115K. After that you quickly go higher. The 18th cheapest home on the list of 2200 is $150,000.... If 100K is your target, you probably need to be looking further out of twon (ie: Queen Creek, Maricopa, maybe AJ).

As far as how long it takes to close, it's mostly dependent on your lender. I've seen closes in as few as 10 days, but that is *very* unusual. 30 days is typical. Most lenders will need at least three weeks.

I'm sure you'll get several agents here soon recommending themselves! You should always interview 2 or 3 (or more if you need to ) to find one you are comfortable working with.