I just came from seeing this unit on Brokers Caravan. It is very clean and tidy with an updated bathroom and in good condition. Lots of storage. The HOA for this complex is currently $195 per month. If you were to purchase this unit for $155,000 (mid range of the listied value range) on a conventional 5% downpayment (yes, they do now exist and we have great Lenders who can do them quickly if your credit is good) the payment on a 30 year fixed (at 4.75% today) would be $768.13 for the loan, approx. $151.13 for taxes, approx $35 for insurance and $195 for HOA (which includes your water bill) for a total of $1149.26 per month. This is less than you could rent the unit for (approx $1200 per month) and you would have a tax deduction to make it even more appealing. If you don't have the downpayment ($7,750.00) plus the closing costs of approx $2500, there are ways to work around it. Gift from family is one, the other would be to increase your offer slightly and ask the Seller to pay $5000 of your costs. We specialize in first time PB home Buyers. If there is a way, we can get you in your new home. Give it a shot.
Karen and Mike Dodge
Prudential Dunn, Realtors