hi, i was wondering if anybody can chime in regarding finding a good deal on a primary residence?
As criteria such as price, neighborhood etc differ for a primary residence as opposed to a investment property, i was wondering if anybody would share their thoughts on strategies to find a "good deal" on a house in a more upscale neighborhood one might actually want to live in? In my particular case, i was looking for a single family residence <$400k in miami neighborhoods such as miami shores, coral gables, morningside, coconut grove etc. it seems like people are listing their houses for almost double than 1 year ago and i dont see alot of houses actually being sold at those prices. These are MLS listed properties. I would be willing to sacrifice some features of my ideal house for value but it doesnt seem to get me anywhere.
Are there any particular strategies i should be looking at for this type of purchase?
Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
12y
My secret to success has been my realtor. We have an amazing one who really knows the area. She was realtor of the year so she has a strong reputation. This has allowed us to be very successful because of this!
Homeowner · Pfafftown, NC · Member since 2011 · 24 posts · 4 votes
12y
Your best bet on good deals in higher end neighborhoods will be foreclosures. From my experience in my banks problem loans dept. you don't see the places trashed like lower end foreclosures. Like the poster above said there's homepath for fnma reo. Just google blank bank reo, VA reo and Freddie Mac reo.
Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
12y
My secret to success has been my realtor. We have an amazing one who really knows the area. She was realtor of the year so she has a strong reputation. This has allowed us to be very successful because of this!
@Elizabeth Colegrove Would you be willing to share her info? I'm looking for properties in Miami through Aventura area. This will be my first investment! Looking to get connected with a knowledgable realtor.