Home Buying in 32708>Question Details

Ramona, Home Buyer in Orlando, Florida

Can't Find the Right Home?

Asked by Ramona, Orlando, Florida Sun Mar 9, 2008

We have been searching the winter springs (tuskawilla, university) area for months for a 3/2 with a yard, seems everything within our price range is so small with no yards or in desperate need of repair. We have a realtor friend we work with occasionally when we think we find something. How can we find a decent property in a good school area, family oriented ? Would love to help an owner avoid foreclosure and help ourselves find a first home that we love. I don't want to spend $250,000 on a home that was worth $150,000 three years ago. Is it unrealistic to want to find a reasonable property? I keep hearing "wait, the market will go down" but I don't want to miss the boat again either! Any suggestions?

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11
Ramona,

The Tuskawilla area certainly has the kind of house you are looking for, but like you said, right now they may be out of your price range (what range is that by the way?) As far as finding homes, is your friend assisting in the search in anyway? There are a ton of little neighborhoods you may not know of in that area, so if you are just driving around and looking or browsing here, you may miss the perfect home. An agent with full MLS access can find everything in the are quickly and easily. If you are only going to buy through your friend ask them for help in the search too!

As far as pricing goes, unfortunately the market is what it is. Yes homes that may have sold for 150K 3-4 years ago may be worth 250K today, but to put in in perspective those same homes were probably selling for 300K last year. It's a roller coaster out there! Like you have been hearing the market is likely to see some further declines...how far no one knows. So if you are set on buying today you either have to purchase a home that needs some fix up, or have a competent agent that can negotiate the heck out of motivated sellers and banks for you.

Good luck!
Web Reference: http://www.gregtraub.com
2 votes Thank Flag Link Sun Mar 9, 2008
Ramona,
You are right in....."not wanting to miss the boat."

It sound like you need to adjust your approach. Instead of contacting your realtor friend when you find something, it might be a good idea to develop a relationship with an agent who will provide you with sample properties to review.

Your concern about not wanting to over pay for property in this market is one also shared with many, many other buyers....a good agent will be able to provide you with information that will help you make an informed decision relative to this important issue.

Additionally, sometimes it is not good to do business with friends...tell your friend you want to continue to work with them but will be contacting other agents for information. As a buyer, you can work with more than one agent...this might help to get things moving.

Good luck,

The "Eckler Team"
Century 21 Almar & Associates
Venice, Fl 34285
941-408-5363
2 votes Thank Flag Link Sun Mar 9, 2008
Ramona,

What about Oviedo?
Web Reference: http://www.PhilFowler.com
1 vote Thank Flag Link Sun Mar 9, 2008
Maybe I can help. You have received some good responses on this board. I have placed a link on my web site so you may easly search for bank owned foreclosures. Please let me know if this helped.
0 votes Thank Flag Link Wed Jun 11, 2008
I knew they would give me the thumbs down
but i don't mind
can you tell I'm not a real estate pro
lol

anyways

good luck
0 votes Thank Flag Link Fri Mar 28, 2008
Ramona
you are correct
i will quote you

"I don't want to spend $250,000 on a home that was worth $150,000 three years ago. Is it unrealistic to want to find a reasonable property?"

some stuff from Pamela

"If you are serious about finding your dream home ...you need to contact me"
"If you find something you like and fall in love with the house, now is the time"
"Visit my website for more information."

some stuff from mr virginia

"you won't miss the boat "
"you don't want to spend your hard earned money on lost equity "

see the difference?

anyways

good luck
0 votes Thank Flag Link Fri Mar 28, 2008
Mr Virginia, you might know what you are talking about. I'm not sure, I try not to be negative. If Ramona found a house that she likes alot, there is no reason to wait to buy it. You tell her not to waste her hard earned money on lost equity, but then you tell her to rent. With the amount of short sales and foreclosures out there she could very well be looking at immediate equity in a home.
Web Reference: http://www.rddrealty.com
0 votes Thank Flag Link Thu Mar 27, 2008
you won't miss the boat
housing is a mess
prices not going up anytime soon
market will probably "over correct" as it has in the past
some estimate that it will over correct to 2000 level house price
wait
be patient
you don't want to spend your hard earned money on lost equity
renting is the best deal and they are competing for your business because there are so many foreclosures

anyways

good luck
0 votes Thank Flag Link Thu Mar 27, 2008
If you are serious about finding your dream home and have gone through the process of speaking with a lender to see about getting a mortgage, you need to contact me. The homes are out there. But more information is needed from you to really find the house you are looking for. This is the time to buy a home and buyers need to realize that. They will look back and say why didn't I buy that when prices were low. I don't know who is telling you to wait till the market goes down, but they are wrong. If you find something you like and fall in love with the house, now is the time. A licensed Realtor will be there for you to negoatiate the best price. Don't wait! This market may never get better. I listed a house on Monday and got an offer on it on Tuesday, so that tells me things are looking up! Visit my website for more information.
Web Reference: http://www.rddrealty.com
0 votes Thank Flag Link Thu Mar 27, 2008
I am not familiar with your market area, but I have many buyers come looking in Lake County to get more house for the money. Cities like Sorrento, Mount Dora and Eustis are easy commutes to the UCF area.
0 votes Thank Flag Link Fri Mar 14, 2008
Ramona,
a 3/2 with a yard and 250K budget. I found one in winter Springs. It is listed for 245K. 1500 sq ft, with a 1/4 to 1/2 lot. It is a short sale. Now is a great time to buy. Also did you know that FHA has increased its loan amount.
Let me know if I can help.
Rick.
Web Reference: http://www.realestatera.com
0 votes Thank Flag Link Thu Mar 13, 2008
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