Gerard,

Since you wrote this question almost a year ago, I am curious about what you decided to do. Did you buy a house yet?

Maureen

I am a Senior with a 2bd/2bth in Shoreline East Condos. I am asking $162.000.00. The assessment is $515.00 per month.Includes Master Insurance, Heat and Water, Exterior maintenance. The kitchen is stainless, 2"Wooden Blinds throughout, Customed Louver Doors on all Closets. Some laminated flooring, some carpeting. The second bedroom has been allocated for an office/ utility room/library, with w/d hu in ceramic tile. The foyer which I added is marble with a leaded class door that matches the kitchen cabinet fronts and the pocket door in the kitchen. The fireplace in the Living Room is Electric. The LR has enough space dividing from the DR that a decent sized cocktail party has been had. I made the place beautiful because, I had intended to live there until that time came. I now feel High Rise condo living is not for me. The building is comprised of a racial and monetary good mix. The parking is gated with an attendant and the front door is 24/7 with a uniformed attendant. If you would be interested in seeing: call Henry and leave a message 313 505 4079. Thanks

Gerard: OK. So the three houses you love were sold before you could see them only means that you are loving well kept homes in a good location with a very reasonable list price. Obviously, you have good taste in houses. Some one else did too & beat you to them.

Yes, this is a great time for well qualified first time buyers to buy. The tax advantage alone is a full discussion.

Right now there are several loan programs designed for buyers who are willing to make the most of a lower price not-so-great condition house & get a mortgage to cover the house & it's required upgrades. FHA 203K for example. Since you are in construction, this might be a great product for you to use.

Your first step is to have a very serious, detailed discussion with a good local loan officer. Start with your own bank or credit union. If they cannot provide you with a suitable mortgage, find a mortgage broker who can.

You also need a real estate agent who will tell you about every listing available which fit your criteria and the new listings as they hit the MLS. That agent will probably have at least one favorite loan officer who can provide with the mortgage that will be your ticket out of rentals.

Good luck & have fun!