Im buying a house...

[Tiger2001]

Any words of wisdom for a first time home buyer like myself? Would anyone like to suggest a realtor? I know some people are against using a realtor though. We havent made up out mind yet on whether or not to use one.

I'd love to stay in Massillon, preferably NE. Perry township wouldnt be out of the question.

I know there are a lot of "experienced" posters here haha. Im just lookin to hear some pointers. We have our first showing on Friday! Im very excited!!!:2thumbsup:

[Paul Brown]

Get a home inspector before you decide to buy. Worth the $500.

[massillon catholic]

Wait! Prices are going to keep dropping.

[Marie]

There are houses for sale on every corner. It is a buyers market. A realtor can help you find what you want. You should be able to find a nice reasonably priced home.

[austinsm11]

You might want to get pre-approved for the loan. Then you will know exactly how much you can afford and won't get your hopes up on houses out of your price range. Make sure they figure taxes/insurance when they estimate your monthly payment.

[gotigers1]

We got pre-approved from the bank before we started looking. Also Bob Princehorn was GREAT to deal with. He helped us out with buying our house and we will deal with him again. And he's also a BIG Tiger fan!

[Spize]

If you want to keep the mortgage with someone close, call Mtown or my wife. They work together and are the best in the business. Not to mention the company is owned by a name very familiar with Massillon football fans.

If you want the # PM me, I don't want to spam MP.com with advo

[Tiger2001]

You might want to get pre-approved for the loan. Then you will know exactly how much you can afford and won't get your hopes up on houses out of your price range. Make sure they figure taxes/insurance when they estimate your monthly payment.

We(I should say I) have been approved already. Its just a matter of getting out there and finding the perfect one! Im just caught up on all of the subtletees.

[MTiger]

Get a home inspector before you decide to buy. Worth the $500.

Make sure you find a reputable inspector, and make sure you're there for the inspection.

Also, make sure the wording of the inspection report is clear and concise. It'll save lots of money in legal fees and repair costs should anything go wrong. I learned the hard way.

[CarlE]

Any words of wisdom for a first time home buyer like myself? Would anyone like to suggest a realtor? I know some people are against using a realtor though. We havent made up out mind yet on whether or not to use one.

I'd love to stay in Massillon, preferably NE. Perry township wouldnt be out of the question.

I know there are a lot of "experienced" posters here haha. Im just lookin to hear some pointers. We have our first showing on Friday! Im very excited!!!:2thumbsup:

It's YOUR market right now, my friend. Be patient, take your time, and negotiate the hell out of them. Also, GoTigers1 recommended a very reputable realtor in the area. Been here forever, very upstanding guy. We have him listing my grandmother's house in Mayflower right now.

[werperry]

i echo the same sentiments as some/all. negociate, take your time, location/location/location, then negociate more

...it's YOUR market.

oh...and put 20% down.

[werperry]

http://www.cleveland.com/business/extra/plaindealer/index.ssf?/base/business-2/1182674838106490.xml&coll=2

remember this too...

[austinsm11]

Make sure you find a reputable inspector, and make sure you're there for the inspection.

Also, make sure the wording of the inspection report is clear and concise. It'll save lots of money in legal fees and repair costs should anything go wrong. I learned the hard way.

You aren't the only one. I really wish my parents lived closer to look at the houses we narrowed it to and give us some feedback.

Be sure to call the police and see if there are an unsual amount of calls to the area. You may want to talk with the neighbors as well. I wish that I had.

[section3]

if your buying within the city check with the fair housing dept. for first time home buyers programs. marilyn and kitty are great to work with. i utilized this program my first time and they helped with the down payment and the inspection and even paid for some of the improvements to bring it up to code. i only had to remain in the house for 5 years or else pay back some of the money on a sliding scale based on how many years i stayed. one of the best kept secrets in the city if the program is still in place!!!

[MassillonMom]

We used Margaret Coffey of Cutler RE when we purchased our home six years ago.

Very attentive to details, knows the Massillon area, VERY helpful. She has a website at MCoffey.CutlerHomes.com if you want to check out her credentials.

I heard she helped Bambo find a house last year too so you could talk to him and see how she helped him.

Good luck!

[MTown]

First of all, I'm assuming you are getting a fixed rate loan.

Secondly, NO ONE is buying a house right now. NO ONE. When you find a house you like, regardless of what they are listing it for, offer well below it. You just might get it.

[Mass6]

Just so you know, you can see just about everything that is listed on the MLS online through either cutlerhomes.com or howardhanna.com. You can list your area that you are looking and your price range and find just about everything that a realtor finds. The advantages to a realtor is that they do all the looking for you and set everything up, but this comes with a price. If you have the time, you can research everything on your own, like how much the house sold for last and the taxes through the county auditors site. I just went through looking for a house and I found Realtors to be just slightly helpful, and NOT worth the 6-7% they ask for. I had the time to research though, so I found all but 1 house we went through. They will try to keep the price up so they make more (of course that is how they make money, and I have nothing against that) but you can find everything you want online if you have the time. Hope that helps.

[MTiger]

Keep an eye out for auctions and foreclosures too. Lots of those around here these days.

[austinsm11]

Just so you know, you can see just about everything that is listed on the MLS online through either cutlerhomes.com or howardhanna.com. You can list your area that you are looking and your price range and find just about everything that a realtor finds. The advantages to a realtor is that they do all the looking for you and set everything up, but this comes with a price. If you have the time, you can research everything on your own, like how much the house sold for last and the taxes through the county auditors site. I just went through looking for a house and I found Realtors to be just slightly helpful, and NOT worth the 6-7% they ask for. I had the time to research though, so I found all but 1 house we went through. They will try to keep the price up so they make more (of course that is how they make money, and I have nothing against that) but you can find everything you want online if you have the time. Hope that helps.

Realtors can represent buyers and sellers. Our realtor was very helpful. You only have to really be careful if you are looking at a home where the realtor is representing the buyer and seller. Then the realtor's main job is to get the most money for the seller.

This is how it was explained to us:
The 6% is what comes off of the house price, as I understand it. It is 3% for the buyer's agent and 3% for the seller's agent. If you buy the house without a realtor, then the seller's agent gets all 6%. The only way you will avoid this is to not use a realtor and to buy a "for sale by owner" house. If I buy a house that is $100,000, then my agent gets 3,000, then sellers agent gets 3,000 and the owner gets 94,000 for the house. If I don't use an agent and buy the $100,000, then the seller's agent gets 6,000 and the seller gets 94,000 still.


We got all our tax info from the bank.

[austinsm11]

Keep an eye out for auctions and foreclosures too. Lots of those around here these days.

The bad thing about these is not being able to have them inspected beforehand. You can get some really good deals, but be prepared and have money set aside to do some work to the house, just in case.

[Mass6]

Realtors can represent buyers and sellers. Our realtor was very helpful. You only have to really be careful if you are looking at a home where the realtor is representing the buyer and seller. Then the realtor's main job is to get the most money for the seller.

This is how it was explained to us:
The 6% is what comes off of the house price, as I understand it. It is 3% for the buyer's agent and 3% for the seller's agent. If you buy the house without a realtor, then the seller's agent gets all 6%. The only way you will avoid this is to not use a realtor and to buy a "for sale by owner" house. If I buy a house that is $100,000, then my agent gets 3,000, then sellers agent gets 3,000 and the owner gets 94,000 for the house. If I don't use an agent and buy the $100,000, then the seller's agent gets 6,000 and the seller gets 94,000 still.


We got all our tax info from the bank.

I get exactly what you are saying. The only thing I'm warning about is that a seller who wants 100,000 for their house will not accept anything under 106,000 as they have to cover their costs with the realtor. Normally the buyer doesn't pay the realtor costs, the seller does. So if he can find it on his own and contact the seller directly, he can see how much more time they are listing it with the realtor and maybe luck out, saving himself about $6,000. It's much easier to deal with a seller directly than the real estate agent. The seller knows what he wants and how low he will go, but the agent will try to keep him higher to cover the costs.

The bank is another place to look for taxes. Good call Austinsm11.

[austinsm11]

I get exactly what you are saying. The only thing I'm warning about is that a seller who wants 100,000 for their house will not accept anything under 106,000 as they have to cover their costs with the realtor. Normally the buyer doesn't pay the realtor costs, the seller does. So if he can find it on his own and contact the seller directly, he can see how much more time they are listing it with the realtor and maybe luck out, saving himself about $6,000. It's much easier to deal with a seller directly than the real estate agent. The seller knows what he wants and how low he will go, but the agent will try to keep him higher to cover the costs.

The bank is another place to look for taxes. Good call Austinsm11.

I'm not sure that i really follow you. If I don't use a realtor then the seller's agent gets $6,000. If I do have a realtor, then my realtor gets $3000 and the seller's realtor gets $3000. If the owner wants $100,000 after the realtor fees, he or she isn't going to lower the price regardless of if I have a buyer's agent or not. We had one where our our realtor told us a price to offer and the seller's agent said the list price was the lowest the owner would go...so we moved on.

If you are saying to contact the owner directly, while he has a contract with the realtor, and ask them to sell the house for 100,000 and stop listing with the realtor, I would say this is illegal. The seller has to sign a contract or agreement with his or her realtor. My wife and I had to sign one with our buying agent promising that we basically won't go buy a house on our own after she has done all this work for us. I've never sold a house before, but I don't know that the owner and seller's agent usually have a time frame set in the contract. There are times though when both feel that it is best to just part ways and tear up the contract.

[austinsm11]

Mass6,

Just curious how easy or difficult it was for you to set up appointments on your own to view the houses. It seems like it could be very time consuming.

Our agent would call other agents to make a time for us to view a house so that the owners weren't there. Any house that was already empty the agent just called the selling agent (while we were driving around looking at other houses) and got the code to the lock box and we could see it anytime we wanted. Without a buying agent then you have to set up a time with the selling agent to view vacant houses. We were usually able to see about 4-5 houses a day.

Another good thing about using a buying agent is that she knew what problems to look for when viewing a house (very helpful since my parents aren't down here to help). We found a house we really loved but she noticed some problems with the windows slipping and we eventually discovered there had been foundation problems. She also had a good idea of what houses were selling for and what we could put in for a good offer. We also went to a few houses where as soon as we got there, she recommended against the house because it wasn't a good area.

I guess if you have the time, as you mentioned, now would be the time to do it on your own. With houses not selling, a person would have plenty of time to do the research on their own without worrying about someone else swooping in and buying the house.

[Mass6]

I'm not sure that i really follow you. If I don't use a realtor then the seller's agent gets $6,000. If I do have a realtor, then my realtor gets $3000 and the seller's realtor gets $3000. If the owner wants $100,000 after the realtor fees, he or she isn't going to lower the price regardless of if I have a buyer's agent or not. We had one where our our realtor told us a price to offer and the seller's agent said the list price was the lowest the owner would go...so we moved on.

If you are saying to contact the owner directly, while he has a contract with the realtor, and ask them to sell the house for 100,000 and stop listing with the realtor, I would say this is illegal. The seller has to sign a contract or agreement with his or her realtor. My wife and I had to sign one with our buying agent promising that we basically won't go buy a house on our own after she has done all this work for us. I've never sold a house before, but I don't know that the owner and seller's agent usually have a time frame set in the contract. There are times though when both feel that it is best to just part ways and tear up the contract.

What I'm saying is that, if neither of you are with a realtor and the seller wants to sell the house for 100,000 he will sell it for 100,000. If he is with a realtor and it they are working with them, regardless of the buyer having a realtor or not there is a 6% charge, so they will have to list the house at 106,000 instead of 100,000. It doesn't matter who gets what, the seller will list the house and only take down to what they want to sell the house for plus the realtor fee.

As far as calling the selller direct, that would be illegal if you went through the house with either their realtor or yours. If you don't see their realtor, and you don't have one, neither of you are required to pay a realtor. Many people will list their house with realtors, find that they aren't working out and then sell it either on their own, or with another real estate agency. As long as that other agency doesn't sell the house to someone that already viewed it with the previous agent, the seller and new agency are covered. Nothing illegal about calling the homeowner and seeing how long they are under contract with their agent. They may find out that the homeowner is close to the end of their normal 3 month listing and they are getting ready to switch agencies. If they can catch them in the middle, they may eliminate that extra 6000 by buying from the owner directly. Again, it may be just luck and great timing.

[austinsm11]

What I'm saying is that, if neither of you are with a realtor and the seller wants to sell the house for 100,000 he will sell it for 100,000. If he is with a realtor and it they are working with them, regardless of the buyer having a realtor or not there is a 6% charge, so they will have to list the house at 106,000 instead of 100,000. It doesn't matter who gets what, the seller will list the house and only take down to what they want to sell the house for plus the realtor fee.

As far as calling the selller direct, that would be illegal if you went through the house with either their realtor or yours. If you don't see their realtor, and you don't have one, neither of you are required to pay a realtor. Many people will list their house with realtors, find that they aren't working out and then sell it either on their own, or with another real estate agency. As long as that other agency doesn't sell the house to someone that already viewed it with the previous agent, the seller and new agency are covered. Nothing illegal about calling the homeowner and seeing how long they are under contract with their agent. They may find out that the homeowner is close to the end of their normal 3 month listing and they are getting ready to switch agencies. If they can catch them in the middle, they may eliminate that extra 6000 by buying from the owner directly. Again, it may be just luck and great timing.

Ok, I think I follow you better. That is what I mentioned about the buyer not getting a realtor and then going to a "for sale by owner" house...then there are no realtor fees. I didn't realize owner/selling agents usually had a 3 month agreement.
So if there is a house that I like I can call the owner and see when the the agreement is over and possibly make an offer later if they do not continue the agreement after 3 months. But if I go to view the house before the agreement is up, then I couldn't buy the house after the owner/selling agent contract is up, correct?

[Mass6]

Mass6,

Just curious how easy or difficult it was for you to set up appointments on your own to view the houses. It seems like it could be very time consuming.

Our agent would call other agents to make a time for us to view a house so that the owners weren't there. Any house that was already empty the agent just called the selling agent (while we were driving around looking at other houses) and got the code to the lock box and we could see it anytime we wanted. Without a buying agent then you have to set up a time with the selling agent to view vacant houses. We were usually able to see about 4-5 houses a day.

Another good thing about using a buying agent is that she knew what problems to look for when viewing a house (very helpful since my parents aren't down here to help). We found a house we really loved but she noticed some problems with the windows slipping and we eventually discovered there had been foundation problems. She also had a good idea of what houses were selling for and what we could put in for a good offer. We also went to a few houses where as soon as we got there, she recommended against the house because it wasn't a good area.

I guess if you have the time, as you mentioned, now would be the time to do it on your own. With houses not selling, a person would have plenty of time to do the research on their own without worrying about someone else swooping in and buying the house.


I actually found it pretty easy, as I would check out the homes online and they had an agent to contact. All I had to do was call and they would set up the time. I would first check on the selling price and online at the county auditors page so that I could see what they bought it for as compared to what they are selling it for.

My wife and I are very lucky to have family friends in the construction field that could help us out with what to look for in a house to ensure it is built correctly. There are a ton of things to look for that you will probably not see the first or second time you go through a house.

Tiger2001, if there is anything I can add it is this: Make sure you have someone else go through the home at a separate time while you're not around to give you their perspective. You may love the house and overlook things that could be very troublesome once you own the home. Insulation, Windows, Roof, Foundation, Water are all things to look at in a home. If you see any problems with any of this look out!

[Mass6]

Ok, I think I follow you better. That is what I mentioned about the buyer not getting a realtor and then going to a "for sale by owner" house...then there are no realtor fees. I didn't realize owner/selling agents usually had a 3 month agreement.
So if there is a house that I like I can call the owner and see when the the agreement is over and possibly make an offer later if they do not continue the agreement after 3 months. But if I go to view the house before the agreement is up, then I couldn't buy the house after the owner/selling agent contract is up, correct?

Exactly! It actually happened to us with a house we really liked. The realtor jacked the price up way over what it was worth. We sent a family friend to drive by the house and the owner actually said he would accept 10,000 under what they were asking, which they lowered an additional 14,000 from what they originally were asking, a total of 24,000 less than asking. That is why I will always contact the owner first to see how much longer they have on their contract.

[Marie]

We sold our house in 2003. Listed with a realtor for 3 months. It seemed everytime someone came though our house for the "open house" our realtor latched onto them and found them another house to buy, not ours. It was very depressing. I had a friend ask me when our realtor contract was up and I said Oct 3. On the forth her son and his wife came and looked at the house and we sold it to them by owner. I don't know if I would deal with a realtor again. You can get the forms(purchase agreement) you need at Office Max.

Good luck in your househunting, as keep us posted when you find the one that is right for you.

[austinsm11]

Exactly! It actually happened to us with a house we really liked. The realtor jacked the price up way over what it was worth. We sent a family friend to drive by the house and the owner actually said he would accept 10,000 under what they were asking, which they lowered an additional 14,000 from what they originally were asking, a total of 24,000 less than asking. That is why I will always contact the owner first to see how much longer they have on their contract.

Gotcha. That will be good to remember in the future. Thanks for the tip.

[Mass6]

We sold our house in 2003. Listed with a realtor for 3 months. It seemed everytime someone came though our house for the "open house" our realtor latched onto them and found them another house to buy, not ours. It was very depressing. I had a friend ask me when our realtor contract was up and I said Oct 3. On the forth her son and his wife came and looked at the house and we sold it to them by owner. I don't know if I would deal with a realtor again. You can get the forms(purchase agreement) you need at Office Max.

Good luck in your househunting, as keep us posted when you find the one that is right for you.

Bingo!!! I feel the same way you do Marie!!!!!

[TigerLily]

Location is very important. And, I know someone else mentioned water. Make sure it has a dry basement.

Also, watch the closing costs on your loan so you don’t overpay.

I like to watch “House Hunters” on HGTV. It’s on at 7:30 in the evening and I think again on some nights at 10:00. You can really pick up a lot of good tips on what to look for and what people are looking for in case you want to re-sell.

Hope you find a.....
http://www.realestateclipart.com/clipeze/clipez11.jpg

[Tigermedic]

Find a house you like see how long it has sat on the market and low ball the hell out of them..

[massillon catholic]

Location is very important. And, I know someone else mentioned water. Make sure it has a dry basement.

Also, watch the closing costs on your loan so you don’t overpay.

I like to watch “House Hunters” on HGTV. It’s on at 7:30 in the evening and I think again on some nights at 10:00. You can really pick up a lot of good tips on what to look for and what people are looking for in case you want to re-sell.

Hope you find a.....
http://www.realestateclipart.com/clipeze/clipez11.jpg

Don't forget the Title Charges. These can add up to over $1000 in many cases. And, watch out for Admin fees, Loan Origination Fees, etc. Title Co's can be just as crooked as the Realtor and Mortgage Co. In fact, there are often "kick-backs" involved, although this is illegal.

[MassillonMom]

Kick backs are totally illegal!!

You will receive a truth in lending form which will state the very most you would have to pay the lender and title company.

Many of the statements made on this thread are so totally false, it's unreal!!

Realtors DO use open houses to find prospective buyers but ONLY 1% of buyers actually buy a home from an open house!

Over 80% of buyers now start on-line to view homes and then decide to work with a Realtor who represents them in the buying process.

Make sure your Realtor is a member of the National Association of Realtors which has strict standards of ethics.

Home inspections are now priced around $250.00 depending on the square footage of the home.


House Hunters paints a false picture of how to buy a home. Buyers on the show only look at three houses, decide on one, make an offer (buyer signs a single piece of paper? get real!), offer is accepted with no counters (come on!) and poof! they are moved in and have totally updated the home three months later! Only on TV!

[austinsm11]

Kick backs are totally illegal!!

You will receive a truth in lending form which will state the very most you would have to pay the lender and title company.

Many of the statements made on this thread are so totally false, it's unreal!!

Realtors DO use open houses to find prospective buyers but ONLY 1% of buyers actually buy a home from an open house!

Over 80% of buyers now start on-line to view homes and then decide to work with a Realtor who represents them in the buying process.

Make sure your Realtor is a member of the National Association of Realtors which has strict standards of ethics.

Home inspections are now priced around $250.00 depending on the square footage of the home.


House Hunters paints a false picture of how to buy a home. Buyers on the show only look at three houses, decide on one, make an offer (buyer signs a single piece of paper? get real!), offer is accepted with no counters (come on!) and poof! they are moved in and have totally updated the home three months later! Only on TV!

What statements are false? Most of the statements on here have been made by people who aren't in the business, so there could be some things that aren't accurate. Just curious.

As far as House Hunters, it is only a 30 min. show. Obviously they condense and don't show many of the aspects that go into house hunting. I don't know if it was this show or another, but I have seen where the buyer and seller had to counter back and forth. I doubt the buyers only look at 3 houses.

Personally I like all of those shows. Just interesting to see all the different styles of homes and price differences throughout the country. The other show that I like is Flip that House.

[MassillonMom]

Yes, I understand it's only a half hour show but don't you think it misleads people who have never bought a home before?

On average, buyers are looking for a good six months for their dream home.

Flip that house is interesting too. Especially the ones who have never done it before and all the troubles and expenses they get into. Yikes!

[massillon catholic]

Kick backs are totally illegal!!

You will receive a truth in lending form which will state the very most you would have to pay the lender and title company.

Many of the statements made on this thread are so totally false, it's unreal!!

Realtors DO use open houses to find prospective buyers but ONLY 1% of buyers actually buy a home from an open house!

Over 80% of buyers now start on-line to view homes and then decide to work with a Realtor who represents them in the buying process.

Make sure your Realtor is a member of the National Association of Realtors which has strict standards of ethics.

Home inspections are now priced around $250.00 depending on the square footage of the home.


House Hunters paints a false picture of how to buy a home. Buyers on the show only look at three houses, decide on one, make an offer (buyer signs a single piece of paper? get real!), offer is accepted with no counters (come on!) and poof! they are moved in and have totally updated the home three months later! Only on TV!


If you think kick-backs don't happen, then you are out of touch. I said they were illegal, but believe me they happen all of the time. Often times in forms other than cash payments.

[MassillonMom]

Realtors DO use open houses to find prospective buyers but ONLY 1% of buyers actually buy a home from an open house!

Over 80% of buyers now start on-line to view homes and then decide to work with a Realtor who represents them in the buying process.

Make sure your Realtor is a member of the National Association of Realtors which has strict standards of ethics.

Home inspections are now priced around $250.00 depending on the square footage of the home.



These are corrections to others' messages.

[austinsm11]

Yes, I understand it's only a half hour show but don't you think it misleads people who have never bought a home before?

On average, buyers are looking for a good six months for their dream home.

Flip that house is interesting too. Especially the ones who have never done it before and all the troubles and expenses they get into. Yikes!

I think most people would realize that all of this doesn't happen in a week.

I don't think that this is misleading, but they don't show the home inspections, paperwork, getting the mortgage approved because that would make for boring tv. It does somewhat glamourize the whole process, but what do they have to gain from misleading people?

I love watching Armando Montelongo on Flip this House. He is funny.

[MassillonMom]

What kind of kick backs that are not money?

If you are using a mortgage broker, banker, etc. doing this-it definitely needs to be reported!!

[austinsm11]

These are corrections to others' messages.

Those aren't really corrections to what anyone has said. They are good tips, however.

[massillon catholic]

What kind of kick backs that are not money?

If you are using a mortgage broker, banker, etc. doing this-it definitely needs to be reported!!


Title Co's give Mortgage Co. owners vacations, dinners, sporting event tickets, etc. just for directing the deal to their Title Co. It's nearly untraceble and happens all of the time.

[Mass6]

Kick backs are totally illegal!!

You will receive a truth in lending form which will state the very most you would have to pay the lender and title company.

Many of the statements made on this thread are so totally false, it's unreal!!

Realtors DO use open houses to find prospective buyers but ONLY 1% of buyers actually buy a home from an open house!

Over 80% of buyers now start on-line to view homes and then decide to work with a Realtor who represents them in the buying process.

Make sure your Realtor is a member of the National Association of Realtors which has strict standards of ethics.

Home inspections are now priced around $250.00 depending on the square footage of the home.


House Hunters paints a false picture of how to buy a home. Buyers on the show only look at three houses, decide on one, make an offer (buyer signs a single piece of paper? get real!), offer is accepted with no counters (come on!) and poof! they are moved in and have totally updated the home three months later! Only on TV!

Please show me the statements made on this thread that are false.

[TigerLily]

House Hunters paints a false picture of how to buy a home. Buyers on the show only look at three houses, decide on one, make an offer (buyer signs a single piece of paper? get real!), offer is accepted with no counters (come on!) and poof! they are moved in and have totally updated the home three months later! Only on TV!


Everything always starts getting so intense on here.....and I sure didn't mean for this to be an inflammatory little statement by bringing up this show, it was purely an innocent remark. So I think I need to clarify.

I only wanted to recommend this program as something they could watch to maybe get some ideas. I really didn't think that they would base their whole house buying experience on it (after all, this is just a TV show, not the Bible of house buying). It does just give you a little insight on what people might be looking for when buying a house. And, it's fun to watch (you can also get some good decorating ideas too and some you might want to avoid).

Since I've been through this several times myself, including building a home... all I can say is to just relax, take it as it comes, don't get upset when things don't seem to be going well, because it won't always be smooth and pray about it that God will lead you to the right place. This sure saved me from making some mistakes. :smile:

[Banks]

Get a home inspector before you decide to buy. Worth the $500.

WOW !

My 2 sons just bought houses with in the last 3 years and their home inspections were $200

[Banks]

We sold our house in 2003. Listed with a realtor for 3 months. It seemed everytime someone came though our house for the "open house" our realtor latched onto them and found them another house to buy, not ours. It was very depressing. I had a friend ask me when our realtor contract was up and I said Oct 3. On the forth her son and his wife came and looked at the house and we sold it to them by owner. I don't know if I would deal with a realtor again. You can get the forms(purchase agreement) you need at Office Max.

Good luck in your househunting, as keep us posted when you find the one that is right for you.


You will find that many that many will not bother with open houses, they rarely sell a house they have shown at an open house.. most will use it as a tool to get new buyers and as you said they will find them other homes!

[DAWGH8R]

WOW !

My 2 sons just bought houses with in the last 3 years and their home inspections were $200

The other $300 is part of the " kickback " !!!:jestera:

[Tigermedic]

Open houses rarely sell homes. If you like the home generally you call on it and set up an appointment. Open house usually attract your busy body neighbors.

[chumly]

Wait! Prices are going to keep dropping.

Exactly!

Here's my friendly two pips worth of Econ 101:

Buy Low and Sell High; Buy at Support and Sell at Resistance.

There is no clear Support in the housing market right now. There are two rounds of ARM increases coming this year and into next, much of it in the subprime market. There are a lot of foreclosures yet on the horizon and that AIN'T Support for current housing prices.

The central banks around the world did not just infuse $138 Billion into the equity markets in the last 24 hours because things were looking rosy in the housing market. They did it to avoid a serious crash in the next few days. Bigtime hedge funds connected to some major global financial players are in serious trouble due to mortgage-backed securities risks (60+ mortgage lenders have gone under since December).

Bottom Line: If you buy, be VERY patient and look for some deals and pay no greater than 75 cents on the dollar and maybe less. Look for some really good deals in the foreclsure market, find the lowest comp and bid below it. There will be plenty of great deals for wise buyers in the next few years, BUT remember the market has not hit a bottom yet.

Good Luck!

[Tiger2001]

Pending a home inspection.....I have made a deal!!!!!

My gf and I found a great home on the NE side off of state street!

2100 square feet, 3 beds, 2 bath, extra lot, 2 car garage, all appliances!!! For a great price. Almost 15k under list price!!!


GO TIGERS!!!!

[Paul Brown]

My gf and I found a great home on the NE side off of state street!


oh man i could never do that lol

You have the whole rest of your life to be trapped when you're married. keep your personal space while you still can lol.

[DAWGH8R]

. Almost 15k under list price!!!!!!!

Who's list price ??? If they list it for 1 million, and you get it for $ 150,00 then I guess you REALLY did good !!

My wife tries to use this logic while shopping. Bought a dress that was 40% off. Only had to pay $ 260. Problem is, dress isn't worth $ 125 !!!:furious:

[werperry]

Title Co's give Mortgage Co. owners vacations, dinners, sporting event tickets, etc. just for directing the deal to their Title Co. It's nearly untraceble and happens all of the time.

i give my customers dinners, sporting event tickets, golf trips, etc...for directing their business to me. hell, i write it off.

what's the difference?

[Tiger2001]

Well the house was appraised at 97k, list price was 84k, an i got it for 71. I got a great deal, dont worry. :thumbsup:

[werperry]

after following what's going on in the housing and subprime lending markets (not saying you're subprime)...i sure hope you have your 20% saved for a down payment. the days of easy credit are over...

even if you were preapproved...the game is changing...by the HOUR.



if i were you...i'd wait a little longer.

[DAWGH8R]

Well the house was appraised at 97k, list price was 84k, an i got it for 71. I got a great deal, dont worry. :thumbsup:


2001,

I learned a LONG time a good what the definition of a " good deal " is.

A good deal is a state of mind !!

Any transaction that you make, and feel good about is a good deal.

I used to own a car lot. A LOT of people paid the same price for the same car. Some people were overly happy, some content.

I've had peopel that paid WAY more than the last guy for the same car,
but were far more satisfied.

If you like you neighborhood, ......... like your house, ........... like your monthly payment ......... and your girlfriend is happy,........................................

YOU GOT A FANTASTIC DEAL !!!!

[shortbev]

i am being really nosy here...i grew up on state street... what block are you moving into?

[Tiger2001]

9th on the north side of state.

[MassillonMom]

I'm confused, Tiger2001.

850 9th St. NE was listed at 89,900 and then reduced to 77,500 and you got it for 71,000? You got it for 5,500 off of the list price then.

[Tiger2001]

I'm confused, Tiger2001.

850 9th St. NE was listed at 89,900 and then reduced to 77,500 and you got it for 71,000? You got it for 5,500 off of the list price then.

You meant 6,500?

Sorry,

The first time I saw the listing it was at 84k. I got it for 71k. That is "almost" 15k right?

I had no Idea its first listing was 89,900! Wow!!! :rockin:

Whered you find this info?

[massillon catholic]

Well the house was appraised at 97k, list price was 84k, an i got it for 71. I got a great deal, dont worry. :thumbsup:

I hope you love your new home, but I can't believe that any house on the NE side of Massillon with the exception of North of Lake Ave. appraised at $97,000 with the way prices on home's are dropping. I know a family that bought a house on the street off of Whittier School for $120,000 three years ago, its now appraised at $87,000 and nothing is differant with the home.
Prices will continue to drop for at least another year and maybe longer, IMO. But, if you got it for $71,000 and when prices go back up in 5-7 years you'll make money and that's what its all about. Good Luck.

[Tiger2001]

I hope you love your new home, but I can't believe that any house on the NE side of Massillon with the exception of North of Lake Ave. appraised at $97,000 with the way prices on home's are dropping. I know a family that bought a house on the street off of Whittier School for $120,000 three years ago, its now appraised at $87,000 and nothing is differant with the home.
Prices will continue to drop for at least another year and maybe longer, IMO. But, if you got it for $71,000 and when prices go back up in 5-7 years you'll make money and that's what its all about. Good Luck.

Thanks!

Im very excited. VERY anxious! And nervous all at once...:sour:

[mike_da_man13]

Location is very important. And, I know someone else mentioned water. Make sure it has a dry basement.

Also, watch the closing costs on your loan so you don’t overpay.

I like to watch “House Hunters” on HGTV. It’s on at 7:30 in the evening and I think again on some nights at 10:00. You can really pick up a lot of good tips on what to look for and what people are looking for in case you want to re-sell.

Hope you find a.....
http://www.realestateclipart.com/clipeze/clipez11.jpg

SW side move into country view estates some really nice new housing in there

[Scott Myers]

If your still shopping, try and see through the little things sellers do that keeps their home on the market.

On some of these TV shows, they have people paint a couple of walls and remove some furniture and all of the sudden people bite!

The paint colors in a room, or even the carpets are such a tiny fraction of the amount of the value of the home. Even a little clutter or kids toys throw most buyers into an upset.

Find a diamond in the rough, but not too rough (structural etc).

You may gain thousands in equity by fixing a room color (on your own) or tearing up carpet to find beautiful hardwood floors underneath. No matter what house you buy that has tiny issues, or no issues, will be changed by you anyway.

Too much furniture in a room even throws people off from seeing what the house would be if they actually lived there.

Watch the location as well. (I know that has been mentioned), but in a town like Massillon.. a few blocks can be the difference of quiet and peaceful, or up all night! Even in some newer developments.

[MassillonMom]

Tiger2001,

Yes, I meant to write 6,500. Thanks for catching that!

Oh, and I got my information from my Realtor. I called her last night and she looked it up on the MLS for me.

The house wasn't exactly appraised at 97,000. That is what the tax value of the property was including the lot and detached garage. That's on the auditor's website.

And homes in Country View Estates are priced in the 170's to 250's-a little higher than Tiger2001's budget, mike-da-man13.

[Al.]

I hope you love your new home, but I can't believe that any house on the NE side of Massillon with the exception of North of Lake Ave. appraised at $97,000 with the way prices on home's are dropping..

I bet the people that live in Colonial Hills would take exception to your comment. :laughing: