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Old 04-29-2010, 03:50 AM
 
1,025 posts, read 1,752,326 times
Reputation: 965

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I just recently moved to the area and been trying to find a small starter home in the $90-130K range. I've put in offers on several properties, but got out bidded by investors paying cash. What gives in this area? I've never seen anything like this before in my life. How does one like myself, who is young and just starting out, and looking to live the "American Dream" and own some property compete against that. I'm not looking for anything fancy, but it's been extremely difficult to find anything.
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Old 04-29-2010, 04:18 AM
 
Location: Springfield
2,765 posts, read 8,327,876 times
Reputation: 1114
supply vs demand
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Old 04-29-2010, 05:37 AM
 
Location: Richmond, VA
2,309 posts, read 2,314,460 times
Reputation: 974
at that price point they go fast. My best advice to you is to keep your chin up and keep looking. Have your agent check daily for new properties and get your offer in asap. You'll eventually hit on something you love.

Hang in there!
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Old 04-29-2010, 05:44 AM
 
12,905 posts, read 15,656,633 times
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Quote:
Originally Posted by twinmma View Post
at that price point they go fast. My best advice to you is to keep your chin up and keep looking. Have your agent check daily for new properties and get your offer in asap. You'll eventually hit on something you love.

Hang in there!
Good advice.

My co-worker's daughter just settled on one of these properties in Dale City. She is not an investor but a single mother with two kids buying her first home. It took awhile and a few of her earlier contracts didn't pan out (mostly foreclosures). This one was not a foreclosure and it worked out well.
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Old 04-29-2010, 10:43 AM
 
Location: Northwestern VA
982 posts, read 3,486,651 times
Reputation: 569
Why don't you talk to your agent about finding a house for you...as in something that's not currently listed? Have her check expired listings or door knock in areas that fit your price point. She should tell the sellers she has a ready, willing, and able buyer and that she only wants the listing for 72 hours....that should be more than enough time for you to get in and decide if you like it or not. It's not easy, but it's an option.

Quote:
Originally Posted by e2ksj3 View Post
I just recently moved to the area and been trying to find a small starter home in the $90-130K range. I've put in offers on several properties, but got out bidded by investors paying cash. What gives in this area? I've never seen anything like this before in my life. How does one like myself, who is young and just starting out, and looking to live the "American Dream" and own some property compete against that. I'm not looking for anything fancy, but it's been extremely difficult to find anything.
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