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Old 08-23-2008, 11:10 AM
 
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Terrific info, thanks. Not really trying to go it alone without an agent, just simply surfing whats available and had come across that steal of a deal (although it seems to be sold at this time). I think we'll look at contacting a RE agent in December, but for now we're keeping our eyes peeled on whats out there.

We've always been big on bargain shopping, and we are still looking to get the biggest bang for our buck in a home as well. We're hard-working to the point that we have no problem learning, getting the right tools for, and repairing some things on our own if it means a big savings on a home. We know many feel this is a big pain in the butt, but to us it is exciting and gives us something to do and be proud of.

Maybe a foreclosure isnt the venue, but perhaps a historic home renov. or something - who knows. We're so new to our home shopping at this point...
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Old 08-23-2008, 01:07 PM
 
Location: Cary, NC
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Quote:
Originally Posted by jctx View Post
Terrific info, thanks. Not really trying to go it alone without an agent, just simply surfing whats available and had come across that steal of a deal (although it seems to be sold at this time). I think we'll look at contacting a RE agent in December, but for now we're keeping our eyes peeled on whats out there.

We've always been big on bargain shopping, and we are still looking to get the biggest bang for our buck in a home as well. We're hard-working to the point that we have no problem learning, getting the right tools for, and repairing some things on our own if it means a big savings on a home. We know many feel this is a big pain in the butt, but to us it is exciting and gives us something to do and be proud of.

Maybe a foreclosure isnt the venue, but perhaps a historic home renov. or something - who knows. We're so new to our home shopping at this point...

That sounds like a good strategy, just do not rush into anything and make sure you are working with a professional you can trust to give you advice... not someone trying to sell you the first home you find. So always take your time, ask your friends/family for Realtor referrals and interview them to get an idea of their knowledge and experience with foreclosure or historic homes if that is what you decide to do.

Also, if you are going for a rehab project (in any case really, but in this case more so) talk to a lender and make sure of yoru financing options before you fall in love with anything. There are a few good programs for rehabs, but they are not as easy to find as they were a few years ago. Most lenders have been turned off to rehab loans by all the "flippers" that got in over their heads.

So you can continue to shop and plan, but start looking at the financing options and potential service providers as well.
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Old 08-23-2008, 02:06 PM
 
596 posts, read 2,496,515 times
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Excellent advice, thanks alot.
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