It's tough to answer this question, because it's very subjective - but I feel your pain. Yes, prices are all over the place, and you don't even know if you agree to a price (for a short sale, for example) that the deal will even close (for more information on short sales and when they make sense, check out my youtube channel at www.youtube.com/DialloStevens). Bank owned properties have their own challenges. How did you arrive at that price range of $340K? Did you factor in grant money that you may qualify for and the First Time Homebuyer Tax Credit, if you qualify? see my video on the Tax Credit also at www.youtube.com/DialloStevens.
The best way to find the right property for you is to work with an agent. Have a strategy session at their office during which they can do a variety of searches * WITH * you for property based on what you are looking for. You'll cover a lot of ground that way fast. You'll also get a better sense of factors that may impact you or influence your decisions. Pick a good agent and be proactive.
Feel free to contact me directly.
Hope this helps!
Diallo J. Stevens, REALTOR®, CRS, GRI, SRES, RECS, e-PRO
YouTube Channel: http://www.youtube.com/DialloStevens
Toll Free & Fax: 877.892.6347
NY Office: 718.446.1300 ext. 309... more
Consider working with an agent of your own; also check www.mlsli.com If purchasing with a mortgage, be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.... more