Is it possible to still find a 3 bdrm 2 bthrm property for under $120 000 in a good area with low crime? (San Francisco: short sales, foreclosures)

[vegasboy]

Is it possible to still find a 3 bdrm 2 bthrm property for under $120 000 in a good area with low crime? My bank will not finance short term rental.

They also do not finance in communities where the percentage of investment owners vs resident owners are too high.

If there are still deals like these out there,
A: please let me know and/or send me an email with links.
B: let me know what areas to look at.

I am not interested in short sales or pre foreclosures. I will have to obtain a mortgage either from my own bank or a lender who has a FN program.

Thanks for your help and assistance.

Roy

[clongirl]

Not in California. Unless, of course you meant to say 1,200,000$. Then you should be able to find something that suits your requirements.

[staplegunsarefun]

If you are looking for something in the San Francisco / Bay Area (which is my assumption since you posted in the San Francisco Forum), then you are probably out of luck. I've been looking, and I have significantly *lower* requirements (i.e. I'm OK with pretty sketchy neighborhoods, and only need 2 bedrooms), and I haven't seen much under 300,000...

[ImRandy]

Ok, I've really got to know if you meant the San Francisco Bay Area.

Nevermind, I see you're posting this all over the country.

[sonarrat]

Not a chance. Even if you do find a 3-bedroom property in that price range, it's in the worst part of the worst towns, old, falling apart, and almost guaranteed to have only one bathroom.

[Bluesmama]

I'm sure you can find something in that brackett ~ a pretty decent foreclosure ~ in the San Joaquin Valley if you don't mind the commute. But it's a 2-hr drive to SF, if that's where you want to work. A lot of Silicon Valley employees have been doing that for years.

The climate in that area is a lot like Vegas, but it is VERY laid-back. If you want a fast-paced excitement on the weekends, that probably wouldn't be for you.

[Tallysmom]

Originally Posted by vegasboy

Is it possible to still find a 3 bdrm 2 bthrm property for under $120 000 in a good area with low crime? My bank will not finance short term rental.

They also do not finance in communities where the percentage of investment owners vs resident owners are too high.

If there are still deals like these out there,
A: please let me know and/or send me an email with links.
B: let me know what areas to look at.

I am not interested in short sales or pre foreclosures. I will have to obtain a mortgage either from my own bank or a lender who has a FN program.

Thanks for your help and assistance.

Roy

Nope -- that would be a heck of a stretch in a BAD area....

[stingray427]

Originally Posted by vegasboy

Is it possible to still find a 3 bdrm 2 bthrm property for under $120 000 in a good area with low crime? My bank will not finance short term rental.

They also do not finance in communities where the percentage of investment owners vs resident owners are too high.

If there are still deals like these out there,
A: please let me know and/or send me an email with links.
B: let me know what areas to look at.

I am not interested in short sales or pre foreclosures. I will have to obtain a mortgage either from my own bank or a lender who has a FN program.

Thanks for your help and assistance.

Roy

Are you kidding? In San Francisco??
You can get into the ghetto area of the Bayview/Hunters Point area for about $500,000 for an old place full of crime, drugs and shootings

[cardinal2007]

I think you will have to at least double your budget, even with the housing downturn, I don't think it will ever get to the point where you can get what you're looking for.

[gizmo980]

I don't even think that's possible in cheaper cities anymore... maybe in a small town, but not in any city or metropolitan area - that I know of, at least.