First time home owners loans,

Asked by toronto1morris, Tacoma, WA Fri Jun 22, 2012

Even though this is considered a good time to buy a house do to the lower prices, I am finding that its difficult in finding out what is a good price for a property due to the "foreclosure", "short sale" "Bank Owned" house's in the area. As for the Appraisals that have to be conducted on such loans is costly and we do not know if we are just wasting our money currently with out having any solid information as a result of the housing market. How to make a sound choice in finding a home and coming out on top.

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Alain Picard’s answer
Alain Picard, Agent, Puyallup, WA
Fri Jun 22, 2012
If you aren't working with an agent give me a call and I can help you determine if the price of the home you are looking at is close to fair market value.

Alain Picard
Better Properties
Cell: 253-861-7386
Ofc: 253-922-6220
1 vote
Thank you I may be giving you a call if this one doesn't work out.
Flag Fri Jun 22, 2012
Megan Paul, Agent, Vancouver, WA
Tue Oct 30, 2012
I can't stress enough to find a good lender. If you search out an Exclusive Buyers Brokerage, they will more than likely have several lenders they work with who can be helpful. Bank owned homes can be great investments, but they have to pass appraisal, so do short sales. How much work will they take to make them livable? One Realtor mentioned that you shouldn't leave out traditional sales. I agree. Sellers are coming to terms with the market and there are some lovely homes that have been cared for that could be a better buy.
0 votes
Jack L Hansm…, Agent, Tacoma, WA
Fri Aug 24, 2012
It is a great time to buy, home prices are low and Interest rates are great for no cost loans...there are many first time buyer programs that have fairly low guidelines if you have decent credit and job history...a good Real Estate Expert can help get you to YES in seeing your dream of Home ownership fulfilled...
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Jun 22, 2012
If you are not working with an agent, consider the idea as he/she can best guide you. In order to determine a fair price on any property, review comps with your agent, recently sold similar properties in the immediate area, see what the data suggests and go from there. During your search, don't overlook some traditional sales, as some may end up being a much better buy...
0 votes
we are currently working with an agent also the house in question is not a short sale/etc... We are not certain if the price in which she is asking is going to be accepted after an Appraisal has been done on the property which I believe may be directly related with the "bank Owned""short sale""foreclosures" in the area. Confusing :(
Flag Fri Jun 22, 2012
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