Cheap houses

[fearlessella]

I am nervous to make a realtor annoyed by asking them to look at cheap houses for me.  I don't need much.  The only thing I ask for is a nice privacy fenced backyard not right on top of neighbors.  The house can get some work over time, but I cannot spend a fortune.  Luckily, I am not in the most expensive housing area.  I have 2 large dogs, a cat, and my rats to think about in the move.  I need a place of my own to come home too.  Any ideas?

[andrea1970]

Not sure where you are, but in many areas you can access some version of the MLS online.  Some may be through realtor sites that want you to register.  But you should be able to search by city or zip code and price.

[strangeduck]

I've never bought a house, but isn't a realtor supposed to sell cheap houses, too?  And it's not like the housing market is exactly booming.  Find a realtor with a good reputation and tell them what you need and what you can spend.  If they try to pressure you into something you can't afford, find another realtor.

[gromit]

I would go get preapproved, you can get a bank to write a preapproval letter for less then you can afford.  The realtor will look in your range.  When we bought our first house, we could not afford much, it didn't bother the realtor at all.  They only make money if they sell a house, most are willing to look in any price range.

[Suebee]

We're just starting the process of finding a house, and I agree, you should go get pre-approved for a loan, and have the amount be what close to what you can really afford, not the max you qualify for (we apparently will qualify for more than we want to spend, but if we maxed, we wouldn't be able to eat! LOL).

It's not the realtor's job to judge you... it's their job to find you what you want. If they're not working FOR you, fire 'em and find someone else.

We just bought a book that we know is really going to help us... I read it cover-to-cover over the weekend: Nolo's Essential Guide to Buying Your First Home

[forkyfork]

The way to find a realtor that works in the area your looking (cheap houses) is to find one that has several of those types of houses listed.  If you see Jimmy B's sign on a few houses you know he is familiar with the area and wont snob because the commissions are lower on those houses.

I did make the mistake of not using a "cheap house" realtor I had one that sold houses mostly on the east side which was the nicer area. So they never would look at the houses realistically in my price range and none of them were acceptable to them so I never got to see anything. Back then there wasnt the internet thing so I asked for a printout of all the listings in the area in my price range and looked at them that way by driving by.

Go to www.realtor.com, this website is run directly off the MLS and updates within hours off the MLS database for each area. You can also get an idea of the realtors with the most listings in the area you want to be in.

Good Luck

[andrea1970]

good idea forky -- go look at the signs in the areas you'd like.  Hubby has a very good friend who's wife is a realtor and he asked her to look up a specific house.  She checked on that one, and kinda asked what we were after and a price range.  We told her $300k was pushing the very top of our comfort zone, and that would still be higher than we want.  So she's sent us half a dozen listings over a few months, all near $400k.  Lovely homes that I would love to live in, but not anywhere near our range.  And I really don't think it's any sneaky desire to push us into more house to get a bigger commission - just wanting to show us a nice home that is comparable to what she would want to live in.

[Dori]

I am nervous to make a realtor annoyed by asking them to look at cheap houses for me.  I don't need much.  The only thing I ask for is a nice privacy fenced backyard not right on top of neighbors.  The house can get some work over time, but I cannot spend a fortune.  Luckily, I am not in the most expensive housing area.  I have 2 large dogs, a cat, and my rats to think about in the move.  I need a place of my own to come home too.  Any ideas?

There are houses for only $40,000 in Berlin, NH; my friend just bought one. Check it out on craigslist.
If a realtor wants to sell you a house s/he will find one in your price range............

[Suebee]

Housing prices vary WIDELY by demographics... it's simply impossible to compare housing prices in NH and MI (where the OP lives). Houses that go for $150k here in Rochester, NY would be $300k or more (and in a questionable neighborhood) in another area of the country. So, honestly, comparing numbers isn't going to be much use from state to state.

[Marybelle]

Yeah, there are a ton of houses her going for 65k or so ( peeked at Realtor.com).  Most of them were built in the 70's, and people were buying them up to flip them.  Then the market crashed.  So, tons of foreclosures and short sales.  Some of them are even 3/2/2 houses!  Too bad we're not in a position to buy at the moment...

[andrea1970]

Housing prices vary WIDELY by demographics... it's simply impossible to compare housing prices in NH and MI (where the OP lives). Houses that go for $150k here in Rochester, NY would be $300k or more (and in a questionable neighborhood) in another area of the country. So, honestly, comparing numbers isn't going to be much use from state to state.

Very true.  Even within the same metro area prices can vary dramatically.

[forkyfork]

Housing prices vary WIDELY by demographics... it's simply impossible to compare housing prices in NH and MI (where the OP lives). Houses that go for $150k here in Rochester, NY would be $300k or more (and in a questionable neighborhood) in another area of the country. So, honestly, comparing numbers isn't going to be much use from state to state.

Yeah....your not kidding. Here in Hickory you can have a huge house on 5 acres with a lakefront on a huge lake for $300.
In Cleveland it would be over a half million.  A guy on another forum is looking at a townhouse style condo for $325.

For us we can get a comperable house here for $135 that would be almost $200K in the area I live in in Cleveland.

As finding a house in any ones budget. In the end they all cost the same as the rest of the houses around them. If you buy a fixer upper for 25K you will likely put enough into it to cost close to what the others in the area cost. Its all relative.
I can find a house in Hickory that is livable and really not bad for $50K and even in decent schools. In Cleveland or Utah for that matter you will be in the Ghetto unless the house is trashed.

[Suebee]

I can find a house in Hickory that is livable and really not bad for $50K and even in decent schools. In Cleveland or Utah for that matter you will be in the Ghetto unless the house is trashed.

I was just thinking, a 50k house in Rochester would either be in the ghetto, or not have running water... or a roof. LOL!

(I exaggerate... LOL... but, yeah, for that price, it may not be worth looking at)

Side note: I've expanded my geographic search in our area after doing a little more school district research. Trying to teach myself to have an open mind so my husband doesn't kill me.

[fearlessella]

Thanks guys for all of your input.  I will look into everything.  I am sure that some realtors would think I was a waste of their time, but you are right-  if they want to $$ they will have to look for it.

[Pamnangel]

Some of them are even 3/2/2 houses!

What's a 3/2/2 house?

[Marybelle]

Some of them are even 3/2/2 houses!

What's a 3/2/2 house?

3 bed, 2 bath, 2 car garage. 

[Dearpie]

Just remember that a realtor works for you, and in today's market, they realize how every client is very important to them.   Just let them know up front that you are NOT willing to spend more than XXX amount.  If they start to show you houses for more, then move onto the next one.  Realtors are a dime a dozen, so they need to work to impress you.

[Eileen]

Pick your realtor wisely. In my househunting search, I noticed that most of the houses that I could afford were listed with Coach Realtors. However, "a friend of a friend" was a  Coldwell Banker agent, so they took me around. As others have said they showed me things way out of my price range - lovely homes, but $100K more than I could afford.
I started picking houses from MSL and asking them to show me those - the woman was actually horrified when she went into the houses I could afford. She was just too high end realtor for my price range.

I got very lucky; one day hubby & I went on our own to open houses and met a wonderful realtor that we just hit it off personality-wise. It was a co-op complex, and the people had changed one bedroom into a dining room. When I walked in, she said to me "I have to be honest with you, someone made an offer on this a little while ago and it was accepted." I said "Thanks! I have to be honest with you, even if you told me it was $50, I couldn't buy it as it doesn't have enough room for my animals."
We started talking about pets, and we had a great conversation, hitting it off really well.
I took her card, and when we were ready we signed on with her. Even though she sold high end real estate too, she "got" us - she would go check out houses for us and say "no, you don't want to look at that - there is no good wall for your fish tank, the rabbit cage won't fit anywhere..." - she weeded out a lot for us.
She eventually found the house we bought.

So it's important to have an agent who you're on the same page with.