If you try and are turned down for credit, consider rent-to-own or owner financing as an alternative. Anyone lending money will want to be sure that you are paying your rent on time--your most important bill. How you pay rent is how the lender will be repaid. If you have serious credit problems, it is best to work on them first. Go to a reputable credit counseling service, not some of the ones you see on daytime TV. A good one in PA is Advantage CCCS: http://www.advantageccs.org/.... more
Thank you, for asking a clear question. You identified the location you are interested in and that is the most important point when setting a time to buy. Price being the number two. This location has weathered the nationwide real estate problems with great results. This is one of the areas where prices maintained in most ranges. If you qualify rates are great but lenders want only the best until rates go up then there will be more money released. That has been the case for most of my 25 years at least. If you will share the price range you are looking at I will be happy to give you a full statistical report on what has happened in Mt. Lebanon at that price range over the last two years. Average times on market and what percent of asking price they ultimately sell for. This should give some concrete data to make the decision if now is the time for you to buy or is there a reason to wait, like you expect prices to fall, I don't see any reason for prices to fall except in one price range.
1/20/2011 7:43 AMIs there any advantage for a seller to accept a buyer who is using a va loan? What are the disadvantages?... more
In the Pittsburgh area, all the foreclosed homes can be shown by any agent who is a member of the multi-list (which is pretty much every agent). You'll want to pick an agent who is familiar not just with foreclosures, but also other "distressed" properties which might also be selling well below market value, but aren't owned by a bank like foreclosures. Typically, the agents who do most of the listings of foreclosures don't work as buyer's agents. They will work with someone else who shows their listings and understands what it takes to make a successful REO (Real Estate Owned) offer and knows how to get the contract closed.
You definitely want to work with someone who is YOUR agent, that is, someone who has a fiduciary responsibility to you in the transaction.
I see you are in the 15243 zip code, I also live in 15243, and my office is right on Cochran Road. However when it comes to showing properties I've sold homes in most of Allegheny County. Last year I represented 12 clients as a Buyer's Agent in foreclosure deals. (Actually I represented a few more, but not all of them were the high bidder). If you'd like to get together and discuss the process, what it takes to make a successful bid on a foreclosure, and get some information on foreclosures in areas you are interested, I'd be happy to meet with you.
The best place to reach me is my cell, 412-334-5704.... more
Hi Larry, the average number days that properties too to sell in zipcode 15243 was 71 days. It would be helpful to know whether you're in Scott, USC or Mt. Lebanon which can change that the the number of days.... more