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Old 12-10-2015, 02:23 PM
 
11 posts, read 20,066 times
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I'm looking to buy a home in Houston for around $350k, but I'm in no rush. With oil at $36.5 at the time of this writing, things are about to get bad. I remember Houston in the 80s as a child. Any tips on timing or strategies for getting a great deal? I can pay cash. Neighborhoods I should be focusing on? Logic says outside the energy corridor. Wait for foreclosures to ramp up? Auctions?

edit: $350k

Last edited by janderson111; 12-10-2015 at 03:28 PM..
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Old 12-10-2015, 02:27 PM
 
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You'd probably be waiting forever to buy a house for 3505.00 either that or it wouldn't be inhabitable
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Old 12-10-2015, 02:27 PM
 
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If you can raise your limit to $3600 you might be able to buy a pretty nice tree house.
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Old 12-10-2015, 02:28 PM
 
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Wait one year from now if you want a "good deal"
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Old 12-10-2015, 02:38 PM
 
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I'm not saying things may not get bad, but people have been telling me things are going to get bad all year, yet we keep selling, and selling and still fighting for lots in master planned communities.


People are still moving here, and the economy is much more diverse than it was in the 80's. Again, it may happen, but we really haven't felt it yet. So if you find a good deal, I would jump on it.
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Old 12-10-2015, 03:12 PM
 
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Do you mean $350,500?

If so, pick a home that has been on the market a looooong time and negotiate. Buying a structurally sound property that is ugly, is an easy fix. That's what homevestors and other companies do.

It may take you multiple times and multiple offers to find the right property.
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Old 12-10-2015, 03:17 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,735,217 times
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It won't be like the 80s, Houston is too diversified now. Prices will certainly drop some next year though and some people will need to sell due to layoffs so I would say if you wait until the end of the main spring/summer buying season you can probably get a good deal.
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Old 12-10-2015, 03:28 PM
 
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Sorry, meant 350k
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Old 12-10-2015, 07:48 PM
 
11 posts, read 20,066 times
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Quote:
Originally Posted by chris_ut View Post
It won't be like the 80s, Houston is too diversified now. Prices will certainly drop some next year though and some people will need to sell due to layoffs so I would say if you wait until the end of the main spring/summer buying season you can probably get a good deal.

Seems reasonable.
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Old 12-11-2015, 07:32 PM
 
18,131 posts, read 25,282,316 times
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The grand Parway is being built around Houston
I would buy a house 1 mile from one of its access
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