TLDriver

iTrader: (4)

Hello guys,
Well I am starting to look for a home. I don't have crazy/extreme budget but looking to be at a 2.5k a month payment. I would also like a 4 bed 2-3 bath. I know there are a lot of foreclosures out there and REO's. It just seems in the area I am in (Ventura, Oxnard, and Camarillo) they are out of the market as soon as they pop up. Is there any way to get a list of home before they hit the MLS? or a better time to buy? any information will be helpful. Thank you

Blk96Supra

iTrader: (9)

Get yourself a good realitor. They have access to information about houses that are bearly on the market. Usually by the time you see them someone/s are already bidding on the house or started the paperwork already.

I remember looking over a list and picking out 21 homes that i wanted to see. I showed it to the realitor and she told me 20 of the 21 were already in paperwork. As hard as that is to believe thats what i had.

And once she started showing me homes, they were actually not all off the market yet.

Again, look for a good realitor you trust. The one i had was sub-par and i wished i picked someone else but she was finally able to help me find my home.

TLDriver

iTrader: (4)

Congrats on the house! The guy I am working with seems to be on top of the ball. He isn't active full time and I'm the only person he is working with because a friend of his recommended me. He was able to show me a house on the 2nd day it was on the market. I was going to go view it tonight for a second time 4 days on the market and he called me saying it had already accepted an offer.

soulific

iTrader: (3)

When I was looking for a home there were alot of government grants for first time buyers. I would say look into that. I heard that obama was giving out around 10 g's for first time buyers.

TLDriver

iTrader: (4)

I know the 8k Fed one is gone and the CA one is 10k but once they give out 100 million of rebates it's out the window too.

Neo

iTrader: (3)

Does your Realtor's office have REO agents or does he work closely with some? In my area, I get a few "pre-MLS" lists from different sources, including agents I have good relationships with. This is one of the best way to get a jump on some of the properties. Another thing the agent can do is set up an auto-email (either via MLS or third-party service he may have) that will send out an email when new/changed listings come up. Also, have all your docs ready to go and be ready to go look at the home ASAP.

Good luck.

bigguppy

iTrader: (15)

I also want to add to everyone’s advice. Before making a purchase drive around the neighborhood at night and park near the house to scope out the area. This give you an idea of to expect from the neighbors. Good luck.

eliteskill

iTrader: (8)

Dang you going need a heck of a downpayment for $2500 a month on a 4 bedroom. I been looking for a home as well. I would need to down almost 20% to get my payments down to $2500 for a 2600sqft home @ 30 year fixed. My credit is top tier as well.

Good luck with your search. Make sure its a good neighborhood. Remember normally your first house is not your last one if your in a professional career. Look for a good Realtor, mine sends me emails of new homes all the time. They do disappear fast if its a decent deal.
Im trying to buy a crappy home and tear it down to build the one I want, but location is so hard to get. I dont want to be surrounded by poor looking homes where ppl cant even take care of their lawn, or uncivilized ppl.

TLDriver

iTrader: (4)

I understand that. With the low APR and even with minimum down, I am looking for a 350-400k home and it should keep me around 2500.00 I looked at a place with almost 2900 sq ft in a new area, built in 2005. We are thinking of staying there for about 5-7 years and then move again. I was told many of the people who bought in that area bought it when the market was high and they were reaching 650k in that neighborhood

jadu

iTrader: (42)

If you do an FHA loan, all you would need is 3.5% down. I'm about to close on a home and went that route. My biggest suggestion is to talk to a loan officer so they could break down the numbers for you, monthly and closing costs

ekc

iTrader: (6)

I don't really have any good agents to recommend, but I check redfin.com and imrmls.com for listings. Interest rates are now as low as 4%/30yr fix, which translates to under $2000/mo in mortgage for a $400k loan. Of course, there is also property tax to contend with.