Finding Right Part of Northern Delaware (Wilmington, Elsmere: for sale, foreclosure, rent)

[polski4u]

Hi, I'm a recent college graduate looking to buy a house in northern Delaware. I am looking at the upper half of New Castle county, since I want to be within commuting range of both Philadelphia and Wilmington. I was pre-approved for 72k (fha loan). That is the maximum amount and I can't go above that price. I am not very familiar with northern Delaware. I want to live in an area that is within my price range, but is not a ghetto garbage dump. I have driven through northern Delaware before, and I saw that some parts are really bad (like parts of Wilmington). But other areas look pretty good. Could someone please give me some pointers as to what areas I should be looking in? Thanks in advance

[Freesia Breeze]

Are you saying that your house cannot cost more than 72K? If so, then you're really out of luck. You'd need at least 3x that much for a modest house in a decent area of northern DE. You could probably get a condo at Cliff House on Naamans Road 19810 or condo/townhouse in Valley Run which is off Naamans Road. If you insist on a house for that budget, you're probably gonna be living in the hood or a serious fixer upper in a low rent development. I'm sorry but $72,000 simply isn't enough for a house around here.

[polski4u]

Given that the loan is my sole way of paying, yes, 72k is the max price. It does not have to be a single house. It can be a town house. I'm aware that single houses will be much more expensive, and that's why I'm not restricting my search to them. I'm not giving condos any consideration at all because of the monthly fees associated with them and the fact that there are so many restrictions the condo board places on you. I'm not expecting to live in an upper middle class neighborhood at this price. I'm willing to accept a working class area, just not a ghetto area with shootings, robberies, and drugs.

[jtees4]

Sounds like an impossible number to me to be honest. You may find something run down in a really bad area, that's about it. I don't live there yet, but I have been shopping and exploring all areas in Northern DE for a couple of years so I have a really good feel and know exactly where I will be moving when the time comes. Good luck.

[newmassphd]

There are some housing units available at that price point, but, to echo the opinions expressed
by others, it will most likely be in need of great many repairs or in an undesirable location.

Without mentioning any particular organization, I implore you to
search for yourself about why people are giving you the advice they mention....

1. Go to a realtor’s web site and search for all housing types up to an asking price of $100,000
2. Sort the result set in increasing order (from low to high)
3. Look at the stock available for the top of your price-point ($72K)
4. Go to New Castle County Police Crime Maps or Delaware Crime Maps
6. Enter the address of properties of interest

...and really think what level of safety is something you desire.
I wish you all the best.

[newmassphd]

Another brainstorm is to look for a room mate situation in a college area
near University of Delaware. Since you are a recent college graduate,
make sure to get into a house with room mates who are graduate students
or other recent college graduates (the lifestyle coincides better), live
as cheaply as you can and save very aggressively. Then,
when you can perhaps purchase a home with higher price-point,
that might be the time to purchase.

Also remember that FHA has more strict standards regarding home
inspections, so if you purchase a "fixer upper" in order to
get your price point it might not
pass muster with an FHA inspection.

[rdlr]

I'm not a Realtor, but have access to properties for sale. In the City of Wilmington, there are 74 properties for sale, mostly row townhouses, between $35,000 and $90,000. As you can imagine, some are in better locations than others.Some of the streets I noticed were: Elm, Broom, and Franklin. Some of these townhouses have been renovated, but Location is key.
Yes, find a Realtor.

[polski4u]

Originally Posted by jtees4

Sounds like an impossible number to me to be honest. You may find something run down in a really bad area, that's about it. I don't live there yet, but I have been shopping and exploring all areas in Northern DE for a couple of years so I have a really good feel and know exactly where I will be moving when the time comes. Good luck.

Well how much do you exactly know about my price braquet? I recently spoke to a realtor and they said that I could find what I'm looking for in Elsmere (small suburb outside wilmington) and browntown (neighborhood in Wilmington). I am not expecting to live in a rich country club area at this price point. I am just looking for a place where I don't have to worry about being shot.

Originally Posted by newmassphd

There are some housing units available at that price point, but, to echo the opinions expressed
by others, it will most likely be in need of great many repairs or in an undesirable location.

Without mentioning any particular organization, I implore you to
search for yourself about why people are giving you the advice they mention....

1. Go to a realtor’s web site and search for all housing types up to an asking price of $100,000
2. Sort the result set in increasing order (from low to high)
3. Look at the stock available for the top of your price-point ($72K)
4. Go to New Castle County Police Crime Maps or Delaware Crime Maps
6. Enter the address of properties of interest

...and really think what level of safety is something you desire.
I wish you all the best.

Agreed, I'm already in the process of doing this stuff.

Originally Posted by newmassphd

Another brainstorm is to look for a room mate situation in a college area
near University of Delaware. Since you are a recent college graduate,
make sure to get into a house with room mates who are graduate students
or other recent college graduates (the lifestyle coincides better), live
as cheaply as you can and save very aggressively. Then,
when you can perhaps purchase a home with higher price-point,
that might be the time to purchase.

Also remember that FHA has more strict standards regarding home
inspections, so if you purchase a "fixer upper" in order to
get your price point it might not
pass muster with an FHA inspection.

Renting with other people is not an option in my particular situation. My family's house is going into foreclosure. I am the last one living in the house. I need enough space to take all of the furniture/belongings from the current place to my new place.

Originally Posted by rdlr

I'm not a Realtor, but have access to properties for sale. In the City of Wilmington, there are 74 properties for sale, mostly row townhouses, between $35,000 and $90,000. As you can imagine, some are in better locations than others.Some of the streets I noticed were: Elm, Broom, and Franklin. Some of these townhouses have been renovated, but Location is key.
Yes, find a Realtor.

Thanks

[Pine to Vine]

Originally Posted by polski4u

Well how much do you exactly know about my price braquet? I recently spoke to a realtor and they said that I could find what I'm looking for in Elsmere (small suburb outside wilmington) and browntown (neighborhood in Wilmington). I am not expecting to live in a rich country club area at this price point. I am just looking for a place where I don't have to worry about being shot.

^^^
Not sure if you mean it or not, but this comes across as defensive. Folks are trying to tell you that your budget seems a bit short for what you are seeking. Of course a realtor will tell you they can help you. They pocket their profit and go onto the next client, and you are left with the place you purchased. Personally, I wouldn't live in Elsmere or Browntown - a bit run down in my book and depending on the block, definitely a safety concern.

As for this:

Renting with other people is not an option in my particular situation. My family's house is going into foreclosure. I am the last one living in the house. I need enough space to take all of the furniture/belongings from the current place to my new place.

It sounds as if you are shouldering a lot of burden for a recent college grad. Sorry for all that. I know nothing about the details of your life, but based on what I do know, I see several options, and a combination of them might work:
- Sell all, many or some of these belongings. Why do you need to hold onto so much stuff that is your family's?
- if you need these things, put some of them in storage
- Rent

A forum is an OK place to learn a bit, but not a good one to make a decision. And given your target area is so large (northern DE), even difficult to narrow down an area. We don't even know where (or if) you'll be working. Get a realtor and make a visit now. You need to work with that person, see each place with your own eyes. Take your time. As I started off, once you sign the paper, the place is yours and the realtor smiles and says goodbye. In your price range, it would be easy to make a mistake you'll regret.

Best of luck

[SXMGirl]

As a recent college graduate who wants to move to an unfamiliar area, I would definitely suggest finding a nice rental. This will give you time to visit areas in both Delaware and Pennsylvania and to familiarize yourself with the pros and cons of each area. Realize that you are on a very limited budget and while you may have a realtor, your realtor will not be living in the 72K house, which by the way is at the top of your budget.

Buying your first home is a big purchase and it is important to take your time. If you buy a home in an undesirable area, it will be costly and difficult to get rid of it.

Be smart, use common sense, skip the attitude, and take advantage of the good information that you will receive on this board. Good luck.