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by investors, making it harder for home buyers to buy?? This phenominon is happening in florida, probably other places, too. I HAVE to buy under, way under, that amt and I still want a single family home, not a trailer. I'd consider modular. I have been researching "fixer uppers" but I've heard people here where I live (tampa) saying that investors are bringing cash and scarfing up homes they were looking at, giving them no chance.
Any thoughts? And please , don't state the obvious. I know I'm looking for an inexpensive home, but I have seen some that would work. I'd have some rehab money. My family lives in Charlotte and I hope to buy no farther than 25 miles "out" from Huntersville area. I did find a great buy, but it was way further out. way. Ok, thank you again for reading. All the best, deb.
Location: The place where the road & the sky collide
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Originally Posted by debnova
by investors, making it harder for home buyers to buy?? This phenominon is happening in florida, probably other places, too. I HAVE to buy under, way under, that amt and I still want a single family home, not a trailer. I'd consider modular. I have been researching "fixer uppers" but I've heard people here where I live (tampa) saying that investors are bringing cash and scarfing up homes they were looking at, giving them no chance.
Any thoughts? And please , don't state the obvious. I know I'm looking for an inexpensive home, but I have seen some that would work. I'd have some rehab money. My family lives in Charlotte and I hope to buy no farther than 25 miles "out" from Huntersville area. I did find a great buy, but it was way further out. way. Ok, thank you again for reading. All the best, deb.
You can get something in Kings Mountain, in town. It's going to be slightly further than you want, but not by much. There's a poster on here who commutes from Huntersville to Kings Mountain.
by investors, making it harder for home buyers to buy?? This phenominon is happening in florida, probably other places, too. .
Actually, it's the other way around. Under the Home Path program USERS get to bid in the first 30 days and not until this time frame has expired can an INVESTOR bid. Generally, these are the lower priced homes that you are looking for.
I can tell you from an investor's viewpoint I have lost many homes that I would have bought if the (non-investor) or user had not bought it first.
Actually, it's the other way around. Under the Home Path program USERS get to bid in the first 30 days and not until this time frame has expired can an INVESTOR bid. Generally, these are the lower priced homes that you are looking for.
I can tell you from an investor's viewpoint I have lost many homes that I would have bought if the (non-investor) or user had not bought it first.
I'm not sure what % of the lower priced homes are actually in the HomePath program though. I think it's probably a little bit of both.
I've seen some decent houses in the $100K range including some right by where I live, but I think it's gonna be tough for OP to find something good that's "under, way under" $100K...
Many government backed foreclosures have a 15 day waiting period as well, for owne-occupants to bid before inspectors. But the good ones are seeing multiple offers...you need to be ready to go for sure.
[quote=south.charlotte&union;28515059] But the good ones are seeing multiple offers...you need to be ready to go for sure
So very true. I closed on a house last Tues that in the bidding process I was told there were 20 bidders. So of course they then asked for highest and best and I looked at the house with my rose tinted glasses. I upped my priced by $30,000 bc I felt so strongly about the house and its' potential.
I've seen some decent houses in the $100K range including some right by where I live, but I think it's gonna be tough for OP to find something good that's "under, way under" $100K...
And if she does I hope she has a Home Depot charge card handy. lol
YES, all low end inventory is virtually gone. Investors are lying and posing as owner occupants to get the houses before bidding opens up to everyone. A dozen large funds have descended on Charlotte in the last year and have bought 90% of the foreclosure auction inventory with no end in sight. It's a frenzy!!
Can someone fill me in on the downside to an investor purchasing a home vs. a private occupant? Wouldn't it just make the surrounding properties go up in value once the home is rehabbed and looking decent? At the very least an investor has a plan and "vision" for their purchase whereas a normal home owner may be in such a bind that they buy and never fix it up.
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