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CDMA ENG.
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June 2, 2008 at 10:05 AM #215580June 2, 2008 at 11:33 AM #215462
dharmagirl
ParticipantI was pretty stunned, too.
She has been very intimidated by the home-buying process. The realtor is a friend of the family (nice friend, eh?) who immediately started pushing her to buy this place after she was forced out of a rental home that foreclosed. The realtor only wanted to show her foreclosures and seemed to be especially pushing this place.
I have given her my “information is power – and if you close your eyes and rely/trust other people you are then powerless, and therefore a victim” lecture. To no avail, I think. She seems to think that because she isnt putting any money down that she doesnt have the same rights as other home buyers…or that she cant “bug” the realtor with too many questions.
My understanding is that she has to stay in the area because of her kid’s school – she doesnt want to uproot him. Right now, she, her parents and the kid’s father all live within a mile or so of each other. As a single mom, this is important to her since custody is shared. The kid’s father also apparently threatened to sue her for full custody if she moved him to another school district.
The place really does look like a dump – and the price is shocking. Esp since the bank just paid $191K for it a few months ago. I told her, if anything, she should offer LESS than what the bank paid, not more.
LV Renter, thanks for your insight. I’m going to try to pass on the comments to her.
June 2, 2008 at 11:33 AM #215543ParticipantI was pretty stunned, too.
She has been very intimidated by the home-buying process. The realtor is a friend of the family (nice friend, eh?) who immediately started pushing her to buy this place after she was forced out of a rental home that foreclosed. The realtor only wanted to show her foreclosures and seemed to be especially pushing this place.
I have given her my “information is power – and if you close your eyes and rely/trust other people you are then powerless, and therefore a victim” lecture. To no avail, I think. She seems to think that because she isnt putting any money down that she doesnt have the same rights as other home buyers…or that she cant “bug” the realtor with too many questions.
My understanding is that she has to stay in the area because of her kid’s school – she doesnt want to uproot him. Right now, she, her parents and the kid’s father all live within a mile or so of each other. As a single mom, this is important to her since custody is shared. The kid’s father also apparently threatened to sue her for full custody if she moved him to another school district.
The place really does look like a dump – and the price is shocking. Esp since the bank just paid $191K for it a few months ago. I told her, if anything, she should offer LESS than what the bank paid, not more.
LV Renter, thanks for your insight. I’m going to try to pass on the comments to her.
June 2, 2008 at 11:33 AM #215571ParticipantI was pretty stunned, too.
She has been very intimidated by the home-buying process. The realtor is a friend of the family (nice friend, eh?) who immediately started pushing her to buy this place after she was forced out of a rental home that foreclosed. The realtor only wanted to show her foreclosures and seemed to be especially pushing this place.
I have given her my “information is power – and if you close your eyes and rely/trust other people you are then powerless, and therefore a victim” lecture. To no avail, I think. She seems to think that because she isnt putting any money down that she doesnt have the same rights as other home buyers…or that she cant “bug” the realtor with too many questions.
My understanding is that she has to stay in the area because of her kid’s school – she doesnt want to uproot him. Right now, she, her parents and the kid’s father all live within a mile or so of each other. As a single mom, this is important to her since custody is shared. The kid’s father also apparently threatened to sue her for full custody if she moved him to another school district.
The place really does look like a dump – and the price is shocking. Esp since the bank just paid $191K for it a few months ago. I told her, if anything, she should offer LESS than what the bank paid, not more.
LV Renter, thanks for your insight. I’m going to try to pass on the comments to her.
June 2, 2008 at 11:33 AM #215596ParticipantI was pretty stunned, too.
She has been very intimidated by the home-buying process. The realtor is a friend of the family (nice friend, eh?) who immediately started pushing her to buy this place after she was forced out of a rental home that foreclosed. The realtor only wanted to show her foreclosures and seemed to be especially pushing this place.
I have given her my “information is power – and if you close your eyes and rely/trust other people you are then powerless, and therefore a victim” lecture. To no avail, I think. She seems to think that because she isnt putting any money down that she doesnt have the same rights as other home buyers…or that she cant “bug” the realtor with too many questions.
My understanding is that she has to stay in the area because of her kid’s school – she doesnt want to uproot him. Right now, she, her parents and the kid’s father all live within a mile or so of each other. As a single mom, this is important to her since custody is shared. The kid’s father also apparently threatened to sue her for full custody if she moved him to another school district.
The place really does look like a dump – and the price is shocking. Esp since the bank just paid $191K for it a few months ago. I told her, if anything, she should offer LESS than what the bank paid, not more.
LV Renter, thanks for your insight. I’m going to try to pass on the comments to her.
June 2, 2008 at 11:33 AM #215628ParticipantI was pretty stunned, too.
She has been very intimidated by the home-buying process. The realtor is a friend of the family (nice friend, eh?) who immediately started pushing her to buy this place after she was forced out of a rental home that foreclosed. The realtor only wanted to show her foreclosures and seemed to be especially pushing this place.
I have given her my “information is power – and if you close your eyes and rely/trust other people you are then powerless, and therefore a victim” lecture. To no avail, I think. She seems to think that because she isnt putting any money down that she doesnt have the same rights as other home buyers…or that she cant “bug” the realtor with too many questions.
My understanding is that she has to stay in the area because of her kid’s school – she doesnt want to uproot him. Right now, she, her parents and the kid’s father all live within a mile or so of each other. As a single mom, this is important to her since custody is shared. The kid’s father also apparently threatened to sue her for full custody if she moved him to another school district.
The place really does look like a dump – and the price is shocking. Esp since the bank just paid $191K for it a few months ago. I told her, if anything, she should offer LESS than what the bank paid, not more.
LV Renter, thanks for your insight. I’m going to try to pass on the comments to her.
June 2, 2008 at 3:15 PM #215516Anonymous
GuestHope it was helpful. I do not have kids so I cannot fully understand the school district issue, but if their father is in the district, they share custody, and she HAS to buy, driving the kid five miles to that school for a much nicer home for the same money does not seem like to much of a hurdle.
The school district in that area is not the district that people move into, it is one they move out of.
June 2, 2008 at 3:15 PM #215598GuestHope it was helpful. I do not have kids so I cannot fully understand the school district issue, but if their father is in the district, they share custody, and she HAS to buy, driving the kid five miles to that school for a much nicer home for the same money does not seem like to much of a hurdle.
The school district in that area is not the district that people move into, it is one they move out of.
June 2, 2008 at 3:15 PM #215624GuestHope it was helpful. I do not have kids so I cannot fully understand the school district issue, but if their father is in the district, they share custody, and she HAS to buy, driving the kid five miles to that school for a much nicer home for the same money does not seem like to much of a hurdle.
The school district in that area is not the district that people move into, it is one they move out of.
June 2, 2008 at 3:15 PM #215652GuestHope it was helpful. I do not have kids so I cannot fully understand the school district issue, but if their father is in the district, they share custody, and she HAS to buy, driving the kid five miles to that school for a much nicer home for the same money does not seem like to much of a hurdle.
The school district in that area is not the district that people move into, it is one they move out of.
June 2, 2008 at 3:15 PM #215680GuestHope it was helpful. I do not have kids so I cannot fully understand the school district issue, but if their father is in the district, they share custody, and she HAS to buy, driving the kid five miles to that school for a much nicer home for the same money does not seem like to much of a hurdle.
The school district in that area is not the district that people move into, it is one they move out of.
June 2, 2008 at 3:34 PM #215527GuestMay you should ask her to find out what the realtor commission is on this place based on sales price.
Here are some cold hearted statements. When people say the market has hit bottom, I will use this case as an example, if a single mother with no savings, previously paying $800/month on rent can still qualify to borrow $200K on a dump the market has further to fall. How will she be able to handle issues that come up with the house (A/C, appliances, electrical, etc). How can she afford $1,500 if she is not able to save with a much lower payment? Until we reach a point where today’s sale is not tomorrow’s foreclosure the market will continue to fall.
June 2, 2008 at 3:34 PM #215611GuestMay you should ask her to find out what the realtor commission is on this place based on sales price.
Here are some cold hearted statements. When people say the market has hit bottom, I will use this case as an example, if a single mother with no savings, previously paying $800/month on rent can still qualify to borrow $200K on a dump the market has further to fall. How will she be able to handle issues that come up with the house (A/C, appliances, electrical, etc). How can she afford $1,500 if she is not able to save with a much lower payment? Until we reach a point where today’s sale is not tomorrow’s foreclosure the market will continue to fall.
June 2, 2008 at 3:34 PM #215637GuestMay you should ask her to find out what the realtor commission is on this place based on sales price.
Here are some cold hearted statements. When people say the market has hit bottom, I will use this case as an example, if a single mother with no savings, previously paying $800/month on rent can still qualify to borrow $200K on a dump the market has further to fall. How will she be able to handle issues that come up with the house (A/C, appliances, electrical, etc). How can she afford $1,500 if she is not able to save with a much lower payment? Until we reach a point where today’s sale is not tomorrow’s foreclosure the market will continue to fall.
June 2, 2008 at 3:34 PM #215664GuestMay you should ask her to find out what the realtor commission is on this place based on sales price.
Here are some cold hearted statements. When people say the market has hit bottom, I will use this case as an example, if a single mother with no savings, previously paying $800/month on rent can still qualify to borrow $200K on a dump the market has further to fall. How will she be able to handle issues that come up with the house (A/C, appliances, electrical, etc). How can she afford $1,500 if she is not able to save with a much lower payment? Until we reach a point where today’s sale is not tomorrow’s foreclosure the market will continue to fall.
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