You have some really great advice below from my colleagues. If you are looking in San Diego County, it will be very difficult to find something for $1000/month, unless you put a large down payment. If you try to get something less expensive like a condo or townhome, there will be HOA dues. I would be happy to work with you regarding the specifics of your situation so we can find something that works for you.
Real Estate Broker/ Realtor®
McAllister Homes Real Estate
Residential Sales & Property Management
firstname.lastname@example.org EMAIL... more
There are several lenders that are starting loan programs for people in a similar situation to yourself. They are giving people loans as soon as one year after a foreclosure, short sale or BK filing. They are mainly looking at your current debt to income ratios, income and assets. I would be happy to direct you to a couple of different lenders that might be able to help you.
Meet in person with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for. Your Mortgage Banker will discuss the various loan programs, closing costs, and most important of all, monthly payment.
Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
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I thought Courtney already issued a pre-approval letter for you and your wife retire from the FD and sell the condo in CAN?
Can you call me today?
Maureen Byers GRI
760 622 6855
So, the bottom line is knowing that you have to qualify for a short sale as John said. If you can afford the payments, a lender will see that you probably don't have a hardship. And, seek advice from a real estate attorney and tax professional. Real estate agents aren't qualified to offer such specialized advice.
Often the closing papers have words to the affect that when you sign and close the deal you basically accept everything. Sounds like you did so you would need to speak to a lawyer at this point, not us.... more
I just recently joined with a broker here in Valley Center and have lived in this area for all my life. I obtained my real estate license after buying a home myself this year and understand the struggles you are going through, its very frustrating trying to buy a home in this market. However I will try to help you the best i can if you have any questions feel fre to call me at 760-216-0525 my name is Trisha. Additionally, it is my understanding that most of the homes on the marker now are either bank owned or short sales and from what i have learned they want at least a 30-45 day escrow, no more no less. It is because the regulations and legalities of the whole foreclosure process that make it in that time frame. I this helps.... more
I live and work in Valley Center. The information that has been provided below gives great advice on dealing with a Realtor in general. It sounds like you have a great rapport with them so where have you gone wrong in buying a house? What does your Realtor say? Valley Center doesn't have a lot of good inventory right now. This market brings out the funky custom homes that got way overpriced and are now in need of lots of work, if not a bulldozer. So, the good homes go fast and usually for more than the asking price if they are priced low to begin with. If they've been on the market awhile, feel free to negotiate your best price. Are you making good strong offers? Or, have you not found the house that's just right for you? You're much better off with your own buyer's representative, so please don't give up on that. Good luck to you! I hope you become a resident of Valley Center. You'll love it here!
Diane Conaway, RE/MAX United, (760) 749-2888
Accredited Buyers Representative, Broker Associate... more