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Home Buying in Eugene : Real Estate Advice

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  • Local Info9
  • Home Buying45
  • Home Selling27
  • Market Conditions5

Activity 61
Sun Nov 5, 2017
Frank S. answered:
Hello Tanyasllrs, rent to own homes are scarce and risky as they usually want 10-15% down payment which is non refundable. Do you have 10-15% down or know your fico scores? What city and state are you considering?

How much do you pay in rent and what is the maximum payment/price you are looking to afford? Do you have down payment and closing costs or do you need down payment and closing cost assistance programs?

You may qualify for FHA financing already. If you have low scores you may consider FHA 10% down with fico scores between 500-579 and minimum 580 may consider 3.5% down FHA. You may consider 20% down ONE DAY after a short sale, foreclosure or deed in lieu.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.

The purchase in 97404 zip code start from 199k for 3bd 2ba newer two story single family home or an older 5bd 1ba single story single family home. The purchase in Lake Isabella start from 38k for 1bd 1ba older cottage and up.

You should study RENT vs BUY listings to compare payments and qualifications. You may qualify to buy and pay less than rent. You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. Check out the web reference link below to discuss a game plan...
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Wed Feb 22, 2017
Peter K Murphy asked:
Sun Oct 16, 2016
Stephanie Feldhut asked:
looking for. I am constantly disappointed when I open an email from you only to find a bunch of houses that do not meet the criteria that you asked me for. Very frustrating. If Im looking…
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Mon Sep 28, 2015
Sally Grenier answered:
You can find that info on your county assessor's website. I would not rely on Trulia for such info. This is just a marketing site that pulls info from various sources, such as local MLSs and county records departments. ... more
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Sun Feb 8, 2015
Charlotte Turner,ABR®,e-PRO® answered:
The best thing you can do is to FLAG the listing and Trulia will look into it and remove it if it is a scam. You can do that by going to the listing, just under the picture there is a menu item MORE. Click on MORE and then click flag.

You can also sent specific information you might have directly to Trulia at fraud@trulia.com
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Fri Feb 6, 2015
Claire Morris Dobie asked:
Looking for a one bedroom house or cottage in Eugene for my son (disabled but functional) and it seems that everything affordable for his disability income ($1200) looks good on-line but…
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Mon Jan 12, 2015
Callan Coleman answered:
Hello! The River Road area has large lots, older homes with character. The Bethel neighborhood is nice, and quite affordable as well. Those are homes built in the 50s and 60s on larger lots as well. My wife and I used to live in a home in that neighborhood. We pulled up the carpet to find lovely hard wood floors. We now live in West Eugene in a home built in '62 with hard wood throughout except the kitchen. It is a solid built house. Southeast Eugene is a desirable area. These can be some of the most expensive homes as it is close to the UO campus, and lots of shopping, restaurants and parks. The houses in the Whiteaker area, and close to downtown, are also well built, older with character. However, Eugene is a wonderful city for parks, biking, walking, so almost everywhere you look you will find high quality of living.
What you expect to pay depends on what area you are searching in and the size of the house you are looking for. Here are two examples of search results for a buyer of mine - 3040 FERRY ST Eugene 3br 2bath 1524sqft $219,000. This is in East Eugene. Eugene 3br 2bath 1881sqft $237,000.
Let me know if you need my assistance in your further search.
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Thu Nov 13, 2014
Sheryl.bowman asked:
Mon Sep 15, 2014
Robin Breding answered:
There must be some hidden debt in there. If the collections are not satisfied and agreed upon, that will keep your score down for a long time. I would start there, Find out your Credit score from Experian, Transunion, Equifax.and work from there, instead of one site that tells you one score.
You can get an FHA Loan with that score, The rate will probably be a little higher. Also Talk to a loan officer first. They will pull your scores for you. Call me, I can recommend some.
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Mon Sep 15, 2014
Robin Breding answered:
It is in the contract that your earnest money shall be refunded if you do not quality for the loan. I believe the title company will abide by those rules of termination and refund the money.Short Sales are difficult because although the seller has title to sell. The bank ultimately has the position of taking less that the seller owes. ... more
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Sun Aug 3, 2014
Dan Tabit answered:
Eugenian,
It really depends on the costs and the difference in rate you'll get for the fee. The difference can vary depending on the market when you're looking. Ask your lender to show you the payment difference and the recapture period. If you can recapture the difference in a short enough time, and you have the funds to buy down the rate, go ahead. Just make sure you don't have better places to put that money. Pay off all other debt before you do this, no other debit is tax deductible. ... more
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Thu Jun 19, 2014
jcarlson70 answered:
There is a house @ 767 Madison Street for sale right now. I saw the for sale sign out front. It looks cute. I am not a broker or lender. I saw this house on Zillow too. Looks like the Seller lowered the price by $5,000.00 so they seem to be motivated to sell. ... more
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Tue Apr 22, 2014
Diego Gorlato answered:
Mon Mar 31, 2014
laurendiaz308 answered:
Timeshares need to be looked up as a purchase and not an investment. Regardless of how timeshares are presented, they don´t perform as well as a house or stock investment. If you look around the resale market for timeshares on websites like EBay, Redweek, or TUGBBS will find that you can buy a timeshare for far less money than what the first owner purchased it for. ... more
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Sun Mar 2, 2014
Donna Whitman answered:
The biggest negative in buying a manufactured home, be it in a 55+ park, all ages park or on its own land is the resale value. Manufactured homes still suffer from some negative prejudice and do not appreciate in the same way that a stick built home does. Although good maintenance and a stable or increasing overall market will help maintain the home's value. However, on the plus side, this same issue makes them cheaper to buy in the first place.

There are two options in 55+ parks in the Eugene area. The most common is the park where you buy the home, but the land is leased to you by the Park for typically a monthly rent of $400-600. The second option is a park where you buy both the land and home, and pay a much smaller park fee ($50-100) for common area maintenance. Of course, the initial cost to purchase is much higher when you are buying the land (typically well over $100,000), where as a home only purchase is much cheaper. (anywhere from $10,000 to near $100,000). With the in park, leased land purchase, you are financing only the MH which is considered personal property like a car or boat or motor home. There are lenders who specialize in this type of financing. The land/home property is handled like a typical mortgage loan. Insurance does not seem to be an issue unless the home is very old and not in good shape.

As for living in a 55+ community, my sister has lived in one here in Eugene for a couple of years now, and she is quite content there. Her $510 monthly rent includes her water, sewer, garbage and basic cable, in addition to use of the common areas and general grounds maintenance. The people are friendly, the community she is in has events for the community. Potluck dinners, holiday parties, game days, community garage sales once or twice a year. Her community has a pool and exercise room and a large community center. This will of course vary from park to park, and it is one of the features you would probably want to make sure would suit you. Many of our area 55+ parks are near shopping, banks and other community services. Some of the parks also have some rental units, and/or rent to own options.

I hope you find this information useful. Please feel free to contact me if there are any other questions I can answer for you, or any way I may be of service to you. 541-505-4547.
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Sun Feb 23, 2014
Darcie & Julio Aguirre answered:
In Summerfield you own property with acces to club house and open spaces. At others such as Briarwood and others you don't own the land you just rent it making it easier to be a snowbird. In both cases you will have to upkeep land connected to the trailer. Some of the parks like woodland, and briarwood also include water,sewer, and garbage or cable. ... more
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Fri Jan 24, 2014
casey.lown answered:
Hi, I'm a Mortgage Advisor here in Eugene with Summit Funding. Currently, most lending programs that allow for low down payments will require that he be 3yrs removed from a shortsale. It kind of depends on the underwriter and their take on the divorce and whether he still had financial responsibility to the home. Some would say he was on the Note of the loan, another might say that the divorce decree superceeds his obligations to the Note for the home that went into shortsale. Also, a borrower can qualify 1 year out of a shortsale regardless of the reason if they have 20% to put down.

Another solution might be to see if a friend or family member would have the ability to help by signing on as a nonoccupying coborrower with you and leave your husband off the loan. Give me a call and I'd be happy to answer your questions. 541-915-7346.
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Sun Nov 10, 2013
Lana Lavenbarg answered:
Thu Oct 24, 2013
casey.lown answered:
Hi, my name is Casey Lown with Summit Funding. Typically you need to have a 2yr work history, however, exceptions can be made depending on the lender and their overlays. With the company I work for, we are a direct lender and little to no lending overlays, which means less hoops to jump through. I'd be happy to learn more about your situation and see if I can work with our underwriting dept to find where your situation might best fit. Call me at 541-868-1850 or email me at caseyl@summitfunding.net. I'm sure that there are some solutions for you. ... more
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Wed Sep 25, 2013
Ben Mondragon answered:
I am a realtor in Eugene, can you give me the MLS or address and I can send you a full bio on the property, as well as the answers to your questions. Thanks and have a great day.
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