Home Buying in 55407>Question Details

Lola, Home Buyer in Minneapolis, MN

Looking for a house to buy under 80,000 in good condition in good neighborhood need a pro agent to help me find one

Asked by Lola, Minneapolis, MN Sun Jan 17, 2010

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BEST ANSWER
Great question and I am not your person because I am not in your area so my anwer cannot be biased. You need to look for a Buyer's Representative with the following information in mind:

* Full-Time Agents only
* Answers their own phone and returns calls promptly (simple test to perform)
* Member of the Local Association of Realtors with full access to the MLS
* Good product knowledge (can they tell you about the products they sell - home construction standards)
* Do they carry a mortgage calculator? Can they use it? Can they explain financing terms?
* Can they explain the entire home purchase process in a simple, yet thorough manner to you?
* Can they explain the essential real estate law in a simple and thorough manner to you?
* Are they friendly to deal with or burned out?

Remember, there are "good" and "bad" in every industry and this is one of the most important decisions that many people make. Make a good choice and good luck.
0 votes Thank Flag Link Sun Jan 17, 2010
It is great you are asking for assistance. If you are not working with realtor, you need one who will be able to guide you though the process of finding you right home for you. Especially in the price point and neighborhood you want to be in . Contact me and I can refer you to some one in your area.
0 votes Thank Flag Link Tue Sep 20, 2011
Hi Lola,

Great that you are asking for help! You are on the right track. If you still need an agent, give me a call. I am Broker of my own company Hollway Real Estate. I have been in the business for 15 years. I would be happy to help you out!
Best to you!

Mary Hollway
Broker, Hollway Real Estate
612-810-8924
http://wwww.maryhollway.com
Web Reference: http://www.maryhollway.com/
0 votes Thank Flag Link Thu Feb 24, 2011
Hi Lola,

There are quite a few homes out there in your price range, even a bunch in move in ready condition, just depending on what area you are looking for.

Click on the link for a website where you will have your own private, password protected site set up for you to view all of the listings out there, look at satellite views and street views, search school information, see sold home information around the homes you are looking at, and allow you to save favorites in a folder, all without having to call a bunch of Realtors or dig through a bunch of websites.

Have fun out there shopping for your new home!

Thanks,

Brian Amiot
Sorenson Realty
612-251-8003
0 votes Thank Flag Link Sun Feb 13, 2011
Lola, it's all been said.

You have to make your decisions about where and condition. We can show you properties all day long, but we cannot say HERE'S where you buy and this is WHAT you will buy. Those are your choices.

The most important is the WHERE! That's god to be your choice. Agents cannot steer your toward or away from any given area based on the AGENT'S criteria, it has to be your choices. Do a little home work on the internet, then interview a few agents.
0 votes Thank Flag Link Mon Jan 18, 2010
Lola,
You need to figure out what a "good neighborhood" and "good condition" means. This will likely involve interviewing agents and also looking at a few homes in a few neighborhoods.

Below are a few suggestions of items to consider.


Good Neighborhood
Look at the pride-of-ownership in the neighborhood. Do the residents take care of their homes or do the homes/yards look haphazard?
Call the local police and ask for some call statistics for the area-numbers, frequency and types of infractions they are called to investigate are all important.
Talk with the neighbors - your agent can accompany you if you like.

Good Condition
Pay close attention to look for the straightness of the structure (do the walls and doors look straight?
Look at the major items - roof, windows, furnce/boiler, air conditioning, siding/exterior. These are most of the $$$ items and many last 20 +/- years as a rough rule-of-thumb.
Look at the cities truth-in-housing or time-of-sale inspection if it is one of the 10 or so in the Twin Cities that requires the seller to perform one of the these inspections.
Hire your own private inspector once you write a purchase agreement.

You're in tight competition with other buyers looking for something similar.
I hope this helps, good luck with your search. Steve
Web Reference: http://TheHoemTeam.com
0 votes Thank Flag Link Sun Jan 17, 2010
Hi Lola,

Are you FHA or Conventional Mortgage pre approved?

If have not talk about the Mortgage program, let me tell you a little bit about FHA. FHA mortgage requires that property to have utilities on (water, gas and electricity), furnace must be working. Broken windows is a gray area because the whole window is a problem, a little bit, could be ok.

That will make a difference of finding what you are looking for.
Also, you are not the only one Looking for a house to buy under 80,000 in good condition in good neighborhood.

Expect Multiple offers on every property under those conditions. Also, short sales.

Link to 55407.
http://www.results.net/Search/19925

Trulia get a feed from almost every Broker company but not from NorthstarMLS, wich is the local MLS.

Best.
0 votes Thank Flag Link Sun Jan 17, 2010
Hi Lola!
There are currently approx 375 homes for sale fro $80K down. Most of these are in N Mpls. and E and W St. Paul. You really need to identify where you want to live, then look in the surrounding area. Where were you thinking? City, Suburb, Country? Let me know.
My bio is below.
Colin
0 votes Thank Flag Link Sun Jan 17, 2010
Lola, interview at least 2 agents. I would look in the area you are buying first.
0 votes Thank Flag Link Sun Jan 17, 2010
One suggestion. Personally interview at least three agents once you have narrowed the field down by phone or email.

Also as $80,000 is under the average price for most metro areas you may want to consider agents with expertise in bank owned and foreclosure properties.

My website has more information on these.

Berst of luck.

Steele
0 votes Thank Flag Link Sun Jan 17, 2010
I can help you do just that.

-Edward Chapman III 651-233-3430
Web Reference: http://www.jasongorman.com
0 votes Thank Flag Link Sun Jan 17, 2010
I don't want to sound evasive, but the term "good" can mean different things to different people. As Realtors we cannot steer business toward one neighborhood over another. We show properties to prospective Buyers, supply information on schools, parks, the surrounding area, and then let the Buyer make their decision.

Certainly, there are $80K homes available in the Twin Cities right now. But to find one which meets the definition of "good condition" will depend, in large part, on what you consider to be good. Most properties in that price range are either quite small (square footage) or have other issues which have pushed the price down.

As the saying goes, "You get what you pay for". There are still "deals" to be found in the current market - particularly if you have the patience for a short sale or foreclosure purchase - but you really have to do your homework and hire a professional.

We would be happy to assist you in your search - just click on our profile page or website for contact info.

-Dan & Margo
0 votes Thank Flag Link Sun Jan 17, 2010
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