Foreclosure Anaheim
1st time homebuyer in today’s market?
First time homebuyer seeking advice. What is a fair price to offer in today’s market? Should I ask for 10% below listing price or go even lower? I am looking to buy a single-family home, 3 bedrooms, in the Anaheim, CA area. Many of the homes I have seen within my price range are REO/foreclosures that needs much work, and there appears to be a lot of compeition for homes in my price range – they are going off the market pretty rapidly. I do not know anything about repair and remodeling costs. I just want to make sure that I am not overpaying for a home in a market where the price will continue to drop over the next 2 years before it turns around again.
your realitor should help you determine a fair price for each home that you consider making an offer on. Disregard the asking price entirely. Some homes are priced fair and 10% below asking price won’t stand a chance at being accepted, other homes are priced way too high and you could offer 10% below or even less.
Its true that the cheapest homes on the market still move quickly. there are always lots of people who can almost afford a house. They can afford $20k or $30k below the price of an average “starter” home but they can’t quite stretch far enough. so anytime a house goes on the market below the average “Starter home” price, it will sell quickly, regardless of what the market as a whole is doing.
Right now is a good time to buy, but you need to be sure that you will stay in the house for at least 5 years. I wouldn’t buy in this unstable market if you aren’t certain that you can live there for at least 5 years.
Stop Foreclosure in Anaheim California
