Wanting To Buy The Evil Starter Home: (gated communities, Realtor recommendation, cheapest)

[In_Correct]

I want to buy a starter home. I like to get the most house for the least money. But these houses are hard to find. One reason is there aren't many starter homes around anymore. Another reason is whenever I search on a real estate site the "featured properties" always are shown first. These are half a million dollar McMansions. And I am not interested in McMansions or gated communities and certainly not interested in HOA. I guess the "American Dream" means you should spend too much money.

It's like on that one episode of the Roseanne show where they had the new neighbors Kathy Bauman. (Blonde woman resembling Diane Chambers from Cheers) When they got into an argument Roseanne said to Kathy "No You're Not! ... You are just some [IDR] who paid way too much for a house."

I am kinda getting the impression that Real Estate agents will not talk to you if they find out you only want to find the most house for the least money. I did Internet research and that is probably because the real estate agents only spend their time on houses where they make the most money with Real Estate Fees. And the fees on a "Starter Home" would not be enough pay for the Real Estate Agents.

Is this true? And if it is true, ... if r?ealtors do not want to help sell the Starter Homes, then why don't they just make up another dumb rule where realtors can't sell "Starter Homes"? And why doesn't a realtor just be honest and tell you "No, I am not interested in showing this house."?

Is it ture that most Realtors can be jerks? Do they want you to spend too much money? Is it wrong for me to not spend too much money? Even if I had Millions per year, I still would not want to buy a McMansion. (But if I had Billions per year, then I might want to buy McMansion. )

And why are some homes so inexpensive? Is it because somebody died in them? Or perhaps was there a Meth Lab?

Also, what is the point of labelling Starter Home when Texas has Homestead Exemption? A Homestead Exemption (or what is it called) sounds like a reason to just stay in the same house.

[BirdieBelle]

Originally Posted by In_Correct

I want to buy a starter home. I like to get the most house for the least money. But these houses are hard to find. One reason is there aren't many starter homes around anymore. Another reason is whenever I search on a real estate site the "featured properties" always are shown first. These are half a million dollar McMansions. And I am not interested in McMansions or gated communities and certainly not interested in HOA. I guess the "American Dream" means you should spend too much money.

It's like on that one episode of the Roseanne show where they had the new neighbors Kathy Bauman. (Blonde woman resembling Diane Chambers from Cheers) When they got into an argument Roseanne said to Kathy "No You're Not! ... You are just some [IDR] who paid way too much for a house."

I am kinda getting the impression that Real Estate agents will not talk to you if they find out you only want to find the most house for the least money. I did Internet research and that is probably because the real estate agents only spend their time on houses where they make the most money with Real Estate Fees. And the fees on a "Starter Home" would not be enough pay for the Real Estate Agents.

Is this true? And if it is true, ... if r?ealtors do not want to help sell the Starter Homes, then why don't they just make up another dumb rule where realtors can't sell "Starter Homes"? And why doesn't a realtor just be honest and tell you "No, I am not interested in showing this house."?

Is it ture that most Realtors can be jerks? Do they want you to spend too much money? Is it wrong for me to not spend too much money? Even if I had Millions per year, I still would not want to buy a McMansion. (But if I had Billions per year, then I might want to buy McMansion. )

And why are some homes so inexpensive? Is it because somebody died in them? Or perhaps was there a Meth Lab?

Also, what is the point of labelling Starter Home when Texas has Homestead Exemption? A Homestead Exemption (or what is it called) sounds like a reason to just stay in the same house.

OK, um, let's just take things one at a time.

No, all Realtors aren't jerks. Jerky Realtors can be jerks, I guess. Just like with anything, you need to shop around and find one who you feel comfortable working with.

Of course Realtors will sell starter homes. Just stop calling it that. Everyone's definition of a starter home varies anyway.

Ideally, a Realtor will work with you because they know that the business is about relationships, and they know you will most likely MOVE from the starter home to a larger home one day, so it behooves them to do a good job so you will call them when that time comes.

How old are you?

[Hemlock140]

It depends on where you are. Here, half a million is a starter home, and a fixer at that. McMansions start at about 2 million. Even in our hot market, realtors are begging for listings, and will work hard to sell even the cheapest house. The commission will be lower but it's still money in their pocket. They just don't spend a lot of money on glossy magazine ads for the lower priced homes. In your case, if there are a lot of homes for sale, they might prefer to spend their time marketing the more profitable ones, but with some research you should be able to find someone to help you. It seems like if nothing else, the listing agent would be anxious to show it.

[RoadWarrior12]

Ok. First things first:

1. Whatever crappy site you're using, stop. Find out what the local MLS site is. All of them allow you to search by predefined criteria, max price, etc.

2. There is no such thing as a "starter home". There are homes at multiple price points. Everyone starts at different points. Decide what you want in location and price and go from there.

3. The Homestead Exemption has nothing to do with anything you're talking about. It's a tax cap/reduction on your primary residence. Nothing more, nothing less.

4. Demand sets price point. Less demand? Lower price. High demand? High price.

Life isn't a sitcom. Real estate is a business. As the poster above noted, realtors would love to sell you that $100K house and stay in touch for when you want to buy the next one.

[In_Correct]

Originally Posted by Wmsn4Life

OK, um, let's just take things one at a time.

No, all Realtors aren't jerks. Jerky Realtors can be jerks, I guess. Just like with anything, you need to shop around and find one who you feel comfortable working with.

But isn't only one Realtor company responsible for selling the house?

Originally Posted by Wmsn4Life

Of course Realtors will sell starter homes. Just stop calling it that. Everyone's definition of a starter home varies anyway.

I don't want to call it a starter home. I have seen these labels during frustrating searches on the silly Realtor websites.

Originally Posted by Wmsn4Life

Ideally, a Realtor will work with you because they know that the business is about relationships,

I'd like to think so too. Perhaps they are just busy?

Originally Posted by Wmsn4Life

and they know you will most likely MOVE from the starter home to a larger home one day, so it behooves them to do a good job so you will call them when that time comes.

Okay but I have found 4 bedroom 2 bathroom 2 living room and sometimes 2 car garage "starter homes" priced lower than others. How much larger would I need?

Originally Posted by Wmsn4Life

How old are you?

26.

[BirdieBelle]

Originally Posted by In_Correct

But isn't only one Realtor company responsible for selling the house?

THAT is the seller's agent. You are a buyer, so you get your own buyer's agent who represents you.

Originally Posted by In_Correct

I don't want to call it a starter home. I have seen these labels during frustrating searches on the silly Realtor websites.

So? Don't let a website tell you what you want or need.

Originally Posted by In_Correct

Okay but I have found 4 bedroom 2 bathroom 2 living room and sometimes 2 car garage "starter homes" priced lower than others. How much larger would I need?

YOU decide that. How much space do you want? How much can you AFFORD?

Originally Posted by In_Correct

26.

You just have a lot to learn about how the homebuying process works. You decide how many rooms you need and where you'd like to live, then you figure out realistically how much you can afford, and you find a house that meets as many of those criteria as possible.

But the mortgage process is very complicated. Do your parents own their home?

[In_Correct]

Originally Posted by Wmsn4Life

THAT is the seller's agent. You are a buyer, so you get your own buyer's agent who represents you.

How to find a buyer's agent? Is that a realtor? So I need to just pick any realtor? and if I find one they will talk to the other Realor, the "seller's agent"? Are the buyer's agent expensive? Is this a closing cost or an increased mortgage?

Originally Posted by Wmsn4Life

So? Don't let a website tell you what you want or need.

YOU decide that. How much space do you want? How much can you AFFORD?

That is the space I want. It sounds like plenty of space, So why would I want to move out of it?

Originally Posted by Wmsn4Life

You just have a lot to learn about how the homebuying process works. You decide how many rooms you need and where you'd like to live, then you figure out realistically how much you can afford, and you find a house that meets as many of those criteria as possible.

I can afford what the listings typically described as "starter home" and "investor property" I am not that picky of which area or neighborhood. I have no relatives.

Originally Posted by Wmsn4Life

But the mortgage process is very complicated. Do your parents own their home?

[BirdieBelle]

Originally Posted by In_Correct

How to find a buyer's agent? Is that a realtor? So I need to just pick any realtor? and if I find one they will talk to the other Realor, the "seller's agent"? Are the buyer's agent expensive? Is this a closing cost or an increased mortgage?



That is the space I want. It sounds like plenty of space, So why would I want to move out of it?



I can afford what the listings typically described as "starter home" and "investor property" I am not that picky of which area or neighborhood. I have no relatives.

A buyer's agent is just a Realtor who works for someone who is buying a house. My only point was that you should not use the listing/selling agent as YOUR real estate agent. Get your own. Research local agents in the area where you want to live and find out who is reputable. Ask people you know for recommendations. Meet with them and interview them to see if they would be a good fit.

I would think you would want someone who is very experienced, patient and can walk you through the process.

The agent receives a commission on the sale of the house at the closing, the day you sign the papers and transfer ownership from the seller to you. The agent only gets paid if you buy a house. "Closing costs" are the costs of that transaction.

Closing costs - Wikipedia, the free encyclopedia

As far as space, if you don't ever think you'll move, get married, etc. fine. Choose a house that works for you. But a professional agent will work with you regardless of budget.

The thing is ... there is a lot more to buying a house than just shopping for the house itself. You need to really understand mortgages and all the other terms involved so you don't have to just take the agent's word for it.

I encourage you to read this so you have a basic understanding of what happens and what everything is called before you proceed:

How to Buy Your First Home, 2E: Diana Summers: Amazon.com: Books

[TurtleCreek80]

Originally Posted by In_Correct

I want to buy a starter home. I like to get the most house for the least money. But these houses are hard to find. One reason is there aren't many starter homes around anymore. Another reason is whenever I search on a real estate site the "featured properties" always are shown first. These are half a million dollar McMansions. And I am not interested in McMansions or gated communities and certainly not interested in HOA. I guess the "American Dream" means you should spend too much money.

Oh boy, let's break this down bit by bit:

1. You first need to research what your budget will buy you wherever you live. A starter house usually doesn't mean "getting the most house for the least money". It usually means buying a relatively small and inexpensive house that you'll eventually grow out of once you have kids. A starter house usually means 2-3 bedrooms, 1-2 bathrooms, and <2000sf. However, that can cost $500k in Seattle or $100k in a small town in Mississippi because those housing markets are very different. You can't be unreasonable and expect to get a nice house in your town for $50k if the going rate is $250k.

2. You actually need to use the "search" function on the real estate websites; of course the brokerage's most expensive and nicest listings will pop up first! You actually have to work to find what you're looking for. If you don't want a McMansion or a HOA, then use the search filters to filter out the things you do & don't want.

3. No one is putting a gun to your head. You will only over spend if YOU decide to. Don't play the victim card.

Originally Posted by In_Correct

I am kinda getting the impression that Real Estate agents will not talk to you if they find out you only want to find the most house for the least money. I did Internet research and that is probably because the real estate agents only spend their time on houses where they make the most money with Real Estate Fees. And the fees on a "Starter Home" would not be enough pay for the Real Estate Agents.

Is this true? And if it is true, ... if r?ealtors do not want to help sell the Starter Homes, then why don't they just make up another dumb rule where realtors can't sell "Starter Homes"? And why doesn't a realtor just be honest and tell you "No, I am not interested in showing this house."?

Is it ture that most Realtors can be jerks? Do they want you to spend too much money? Is it wrong for me to not spend too much money? Even if I had Millions per year, I still would not want to buy a McMansion. (But if I had Billions per year, then I might want to buy McMansion. )

1. You need to find a buyer's agent to represent YOU. It's their job to help you find a house you like and can afford and to advise you through the negotiation and closing processes. Ask some friends or coworkers who recently bought starter homes for realtor recommendations. Certainly someone you know has a great realtor to recommend. And stop reading crap on the internet...interview a couple of recommended agents and pick the one you feel the most comfortable with.

2. No, not all realtors are jerks. There are some bad ones just like there are bad teachers, office workers, etc. The majority of realtors are hard-working and helpful. Remember , they don't get a salary. They live 100% on commissions from selling houses. So they like to help sell and buy houses !

3. It's key to find a realtor who's an expert in your market. There are realtors out there who do most of their business in starter home neighborhoods and that's a better person to use than someone who is usually selling $1M homes in other neighborhoods. They won't be as up on pricing and other info in the starter home areas.

Originally Posted by In_Correct

And why are some homes so inexpensive? Is it because somebody died in them? Or perhaps was there a Meth Lab?

Location is the biggest driver of price for homes. A really inexpensive home is most likely in a bad location- bad schools, high crime, on a major street or has a freeway running through the backyard, etc.

Some houses will be cheaper than the surrounding houses because they have huge structural issues like a bad foundation. Sellers will have to disclose known house issues to you before you buy and most other problems will be identified by the inspector.

Originally Posted by In_Correct

Also, what is the point of labelling Starter Home when Texas has Homestead Exemption? A Homestead Exemption (or what is it called) sounds like a reason to just stay in the same house.

I don't think you understand what the Texas Homestead Exemption is. You sign a sheet of paper saying the home you live in is your main residence and it does two things:
1. Protects your home from being seized if your debts go into collection status (provided you're still current on your mortgage and property taxes).
2. Lowers your property tax bill on the property.

If you buy another house in the future, then you would claim that house as your Homestead. Doesn't matter if you had exemptions on former houses. Nothing to do with starter homes at all!!

[jayrandom]

Originally Posted by In_Correct

How to find a buyer's agent? Is that a realtor? So I need to just pick any realtor? and if I find one they will talk to the other Realor, the "seller's agent"? Are the buyer's agent expensive? Is this a closing cost or an increased mortgage?

Best way is to ask a friend who's bought recently to recommend one. If that doesn't work, search reviews in your area and pick a few that look promising. In either case, call them, talk to them and explain your expectations and pick the one that you think will be the best.

Buyer's agents are generally paid by the seller, but not always. Discuss payment with any agent you work with.

Originally Posted by In_Correct

That is the space I want. It sounds like plenty of space, So why would I want to move out of it?

I can afford what the listings typically described as "starter home" and "investor property" I am not that picky of which area or neighborhood. I have no relatives.

I'm confused. What is "this". Make sure to have a good idea what your real budget is before engaging an agent. Remember that the mortgage is only part of the cost of home. There are property taxes and a sizable amount for upkeep.

Good luck