Property Q&A in Pasco>Question Details

Moises, Home Buyer in Pasco, WA

im interested im 22 years old and im looking for my first home what are the requirements and how

Asked by Moises, Pasco, WA Wed Nov 12, 2008

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This question is about this property: http://www.trulia.com/foreclosure/2002596128--W-Brown-St-Pas…

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You are young. I am a real estate professional as well and only 28. This is probably your first property. You have heard a lot about stealing foreclosures on TV. I assume this. Ignore it if it is not true. The truth is most people do not have the patience for a foreclosure. They become to emotionally involved. The bank will make you jump thru hoops and you play by there game, not to mention you usually get a house that needs a lot of work ( not always but usually). And most people pay to much for them. Even my investors who buy them on a regular basis pay to much for them. You really need to do a lot of research. Find you an agent that speciallizes in foreclosure. Most agents do not. You really need to look at the numbers over and over and over. Look at resale value. Foreclosures in a neighborhood will bring down the value in the neighborhood. Take this in concideration. I have seen a lot of people think they are getting a deal when really the neighborhood was really going down anyway. Thanks why there were foreclosures there anyway ( this is not always either). I could write a book on buying foreclosures. I hope to one day. First and biggest requirement. Find you a realtor who will sit and explain the ups and downs about being a first time homebuyer and looking for foreclosures.
0 votes Thank Flag Link Thu Nov 13, 2008
There are many great opportunities available for First Time Home Buyers. There are grants, loans that are government sponsored, and more stand loans, as well as Tax Credits. If you are interested in obtaining a list of these programs, please e-mail me at jonas@windermere.com. I was recently profiled in our local BUILDING magazine that offers an in depth look at these options.
0 votes Thank Flag Link Thu Nov 13, 2008
First, get qualified for a loan. Your local bank is a good place to start. They will make sure you qualify, as well as give you a price range.

Next, ask friends and family for a referral for a Realtor. If you have no luck there, GOOGLE realtors in your area, view their websites, choose three, and meet with them individually. Choose one that seems knowlegable...one that you feel you could have a good working partnership.

Your Realtor will take it from there! Good luck - it's a great time to buy!
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Wed Nov 12, 2008
The Hagley G…, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
Check out the URL below

http://www.trulia.com/blog/sonya_jackson/

Hope this will help.

Take care,
Sonya Jackson
Broker
Cell 503-341-5363
0 votes Thank Flag Link Wed Nov 12, 2008
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