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FIND YOUR DREAM HOME OR APARTMENT

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Jan 6, 2014 4:37PM
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please i am trying to come to buy a house cheap at Canada,but i have only $20000 please what can i do to use it in geting a house were me my family will live
Nov 29, 2011 12:12PM
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This article presumes that we're going to live in the house we buy, but that 's not what's happening in the real world.  Most real estate sales, the majority in 2011, are short sales or distress sales purchased by the very wealthy for pennies as rental property they can turn around and rent to the rest of us at a fat profit. 

 

These very wealthy people see themselves as "investors" but they are more accurately characterized as "vultures".  Guess who is the dead meat they're feasting on...we, the 99%.

Nov 29, 2011 7:35AM
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Hey Top 1% ... Check it out... another way for you to $hit all over everyone else. Buying distressed homes from from jobless, dislocated Americans. Capitalize, capitalize, capitalize!!  Dump a tiny bit of money into them and sell them to some shmuck for a huge profit!!!  God bless America. USA, USA, USA !!!
Nov 29, 2011 7:05AM
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After perusing all the homes, I finally understand the reason for the low price:  they each only have one bathroom.  I'll bet they're tiny, too. 
Heck, even if I lived alone, I'd want more than one bathroom.
  BUT-- If one can buy the home outright, I suppose you could expand it AND add another later.


Nov 14, 2011 11:09AM
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The "A GOOD BET" home in Las Vegas, has more bars on the windows and doors than the Las Vegas Jail.  It is a "BETTER BET" that if you buy this home, you will be a victim of a crime within 30 days.
Nov 10, 2011 7:43PM
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The home in Kansas City is in great condition and should not have a problem getting an FHA loan or conventional loan with very minimal down if any. The seller has went in and completely fixed it up. Granite counters in the kitchen, appliances to stay, new tile, carpet and new exterior siding! Not a million dollar neighborhood, but for this price you would never expect the work that has been done to it! I truly believe there are good homes in every price range, sometimes you just have to search deeper!
Nov 10, 2011 12:49PM
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I would hate to see anyone discouraged from trying to get a loan on an affordable home for their family.  If you find a good home for a good price (which is doable in the current market), please don't be discouraged from trying to get a loan.  I figure if we were able to do it since my husband had not had the new job long, others can also as long as they have employment.  I'm not sure if our loan was a personal loan or mortgage but it worked out well for us.  I hope others are able to get the same kind of affordable housing.

Nov 10, 2011 12:33PM
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At the very end of the street in my neighborhood is a house that was abandoned not long after I moved  in 2008.  I learned from my builder that the current owners were in a dispute with their builder/and the bank due to poor quality construction.  The home was also built over a small stream and has mold issues as well.  The foreclosed bank/owner just put it on the market I am curious to see what this home sells for because I figure whoever buys it is in for a load of problems.  I am happy for the ones who bought a foreclosure and it worked out well for them  but I would not trust most of them not in today's market
Nov 10, 2011 11:52AM
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Huh, well we got a loan from the local bank for $31,000 on our $41,000 house we recently purchased.  Maybe it was a personal loan since we are making the payments directly to the local bank instead of a mortgage company???  Or maybe our downpayment made the difference in securing the loan?  Or maybe it's because it's through the only bank in a small town.  Once they verified my spouse's employment and income info, we signed the paperwork.  We really didn't run into any obstacles at all.
Nov 10, 2011 11:35AM
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Yes loans are made on  cars every day, but cars can be easily valued and car loans are very easy to get even for a depreciating asset.  But to get a home loan there are home conditions that must be met.  Such as good roof, furnace, hot water heater, and if it's an FHA loan or VA, it has to be almost perfect condition.   Plus to get a car loan you don't have to pay to get the loan (which is a problem with home loans in my opinion)   Mortgage lenders just won't accept that you say you will do the repairs as you get the money after you buy the place.   Because most people aren't responsible enough for that.   Many people with good intentions will promise or hope to fix up a home, but won't and the needed repairs will get worse and worse which causes the home to lose value.  By the way nearly all homes this price are foreclosures or HUD homes and when they are this low priced banks will not spend the money to rehab them enough to qualify for FHA or conventional loan.  So yes that $300 water heater or easily fixable leak under the sink could cause a loan to not be given on that house.  
Nov 10, 2011 11:33AM
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I bought a nice home for $20,000, invested another $12,000 in repairs, but the tax assessor says it is worth three times that and wants to collect on that value.  I say the market value is what I paid, not what homes were selling for in 2004.  I did appeal the assessment and get it lowered to $54,000.  So beware that your taxes may be a lot higher than you expected on an inexpensive home.
Nov 10, 2011 11:15AM
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Loans are made for $30,000 + SUV's every day so why wouldn't a person be able to get a home loan for $30,000?  And if you do the repairs a few at a time as you can afford it, you don't have to have a lot of cash in hand. 
Nov 10, 2011 11:11AM
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I wouldn't have believed it was possible, until we did it, last year! After my husband's 2 heart attacks and my serious injuries from an accident kept us both out of work for several months, our formerly perfect credit rating was ruined. When we had to move, because we could no longer afford our over-priced middle-class house, I panicked.

 

When my husband told me about an owner-financed, very low down, no credit check house advertised on Craigslist for $25,000, I thought it had to be either a scam, or something completely uninhabitable in a horrible crime-ridden area. The house was 200 miles away, and I told my husband that the drive would be a waste of time. But he insisted he was going to see it, with or without me, because he had prayed and felt led by the Lord to check it out, so I tagged along... and, WOW!

 

The little town of about 600 is a bit off the beaten path, but it is peaceful, charming, very low-crime, and the people are the friendliest I've ever known. Our immediate next door neighbors are now our best friends. The town is located just 25 miles from a small city with all the amenities, including a mall, grocery and drugstores, restaurants, a hospital, and a super Walmart. We are also located about 135 miles from a major city.

 

The house itself is small, only 2 bedrooms and one bath, but it is big enough for the 2 of us. Yes, the house needed some work, but most of that was just easy and inexpensive cosmetic touches, such as replacing some missing trim, and new interior paint. Also, the former owners had covered the battered old hardwood floors with plywood and press and stick tiles, which isn't at all attractive. We plan to uncover and either restore, or replace, the hardwood floors in the near future. BUT, other than that, and a plumbing problem that we were able to repair with help from our wonderful neighbors, the house is very good and solid and sound, built far stronger than the new houses of today. Our new home sweet home is a charming 1929 Prairie-Style Craftsman with new stucco on the outside, all new double-paned replacement windows, and a brand new central gas heating system ~ which was all put in by the former owners! There is a huge old Chinese Elm in the large fenced in back yard, a row of lovely mature shade trees along the sidewalk, and a small church directly across the street that we now attend. Heavenly! Best of all, at this low price, we are able to pay enough so that we will have the house 100% paid for, in less than 5 years!

I was really worried that it might be a scam, but we had the papers drawn up at a reputable title company that has been in business for about 60 years, and they handle our monthly payments to the seller, so we feel quite safe. I would have preferred to go through a Realtor, for that added bit of security, and would have been willing to pay a little more for the house in order to do so... but still it has worked out beautifully. Losing our over-priced house that we would never have lived long enough to pay off, was the best thing that could have happened!

Nov 10, 2011 11:10AM
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What some of these neighborhoods  needs is for a lot of decent people to move in and gradually change it.
Nov 10, 2011 11:10AM
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Yes, I know from first hand experience that homes can be purchased for under $30,000.  But, there's a few obstacles too.

 

One is, many are not able to have VA or FHA loans put on them. Many of the homes are in disrepair, listed in as is condition and may cost as much or more as the listing price to repair or upgrade. Check them out structurally as well as possible before purchase. 

 

Also, finding them can be a real challenge.  Do not rely on one thing or the other in particular to locate them.  For example: We went though numerous agents.  Never really found one who could stick to the guidelines or really listen.  Basically, we went though our motions and they went though theirs with us guiding them.

 

Going on line and going through listings can help.  But, like most things now days, it's not a cure all by any means.  Many homes are not listed correctly either by description or photo.  Street names, locations, measurements and other things can be way off or misleading.

 

Best bet we found was to explore all avenues and options on the same piece of property once you find one that's interesting to you in tour desired area.  Also remember, there's always another one around the corner.  So, don't get conned into thinking this or that is the only one and don't be too rushed by it either.  Stay away from bidding wars, no one really wins and they defeat the purpose.

 

Remember:  To stick to your guns and take your time within reason to make good choices.  Don't jump or give up ship on your ideals.  No building is really a home until you make it one.  Good realtors can be difficult to find.  They may work for you, but they also work for themselves too.  If their priorities aren't yours, locate another.  Same thing applies to loan companies.  Worst case scenario, be ready to walk away from either if a deal does not fit what you need or want.

Nov 10, 2011 11:06AM
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In my neighborhood, our homes are not $30,000, but homes newly on the market sell for much less than we paid for our home.

If more good people would buy and live in affordable neighborhoods-- the crime would be wiped out of these neighborhoods. I saw it happen in my neighborhood. As people downsized or could not qualify for higher loans, they looked at our affordable neighborhood with good schools, a diverse population, and nearby high tech jobs. 

I loved my neighborhood but low income renters were turning it into a ghetto of section 8 renters. The moms were okay but the mentality of poverty came with their kids and extra family members. During the economic downturn, they too were impacted and moved. Their rental homes went onto the market. They sold to homeowners. The homes, previously model homes, were remodeled. One home was almost gutted because of the mouse infestation. 

You would think the police would have prevented this situation but understand...one of those drug dealing kids was the son of a policeman so there was no help for us. Police stick together. As the grass grew over knee high and the drugs flowed, and the children were at risk in a neighborhood less than 10 years old, the police did nothing but harass anyone who complained. 

I prayed and watched as our home was valued 10's of thousands less. Life took away the neighbors in different directions. Sadly, one of the children was killed at a different location. I always worried for the children and talked to the working mother of 6 (on section 8) about risky behavior of the children. Another worried parent called Child Protective Services. When the child was killed at another location, Child Protective Services began to look more closely at complaints, so the mother moved away leaving behind a devastated home and yard of a former model home. The loss of income caused another renter to move away. Another home had blood splatter when those renters moved away. Our little cul-de-sac was pitiful with no buyers until our new neighbors came.

The remainder of us did not have the money to buy the empty homes. God sent us some lovely new homeowners. They could only afford a lower mortgage. They bought the homes at a steep discount. They remodeled the homes and we all live on the same street in peace.

The welfare mentality of poverty is not limited to $30,000 homes.

I am so thankful my new neighbors cut their grass and maintain their property. They are lovely neighbors and I am glad they bought a cheap house and live in our neighborhood.  

The point of the article is that affordable homes are out there. You don't have to live in the ghetto to afford a livable home in a livable neighborhood. If you saw those homes in my neighborhood on the inside, you would have thought you were in a ghetto. You would not want to buy the homes at a cheap price. Our homes are sturdy homes. They can be a do-it-yourself project or you can pay people to do the work affordable and well.

For those people who have good credit, jobs, inheritance or retirement money, this is a great time to purchase an affordable home. I'm not a Realtor, but I understand the point of the article. I hope additional responsible homeowners move into my neighborhood. All cheap homes are not in bad neighborhoods. Its the landlords who are the real bad guys. Find out how many of the homes on the street are rental homes, then judge from there. In my area of the country, the more rental homes on the block, the worse the neighborhood.
Nov 10, 2011 11:02AM
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Yes there are houses out there for $30k and yes this article is right about that they most likely need repairs.  However this article is putting hope into people by talking about loans for such places.  Most homes that I've been in that cost only $30k do not qualify for any loan because of the condition.  So if you don't have the cash don't even get your hopes up for a $30k house.  And if you have $30k in cash and want to buy a $30k house I advise you to have another $10k at least in cash to fix it up.  
Nov 10, 2011 10:59AM
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Based on the style and address of the Detroit Home, it is probably on the West side of the City where the crime rate is as high as the National Debt.  They should pay YOU $30,000 to live there. They took the bars off the windows and doors just for the pictures.
Nov 10, 2011 10:56AM
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I recently purchased a house in South Bend for less than $70k. There were several nice houses available. I looked at several that were considerably cheaper (including the one featured here) and most of those were NOT in neighborhoods that the normal person would feel safe in. South Bend has a high crime rate, and it is really spotty. One block can be fine, nice, and safe; the next might be riddled with drugs and gang violence. South Bend has a high home invasion rate, so you do not want to find yourself in one of these neighborhoods.

I suspect some of the other homes in this list are similar.
Nov 10, 2011 10:54AM
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California Dreaming, you are correct.  We realized after 3 years that we should never have extended ourselves into our large, expensive home in the first place.  We started recalling that we lived in 1200 sq ft houses or smaller growing up and our parents were not both working themselves to death to pay for the roof over our heads and food on our plates.  We got too caught up in keeping up with our friends but thankfully, we were able to sell our house this year when the job loss hit.  Now, if we could only talk ourselves into downsizing to one vehicle like our parents! 
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