It looks like they're not what I'm looking for. I'd like to find either a decent house/townhouse for something below $200k. Just not really sure where to look and that site doesn't really turn up much I'm interested in.

Are there any new housing developments going up that I should be looking at?

1/11/2007 8:27:02 AM

You can get new places here for a little under 200

http://kbhome.com/Map~RegionID~15.aspx

1/11/2007 9:21:32 AM

I was hoping for some place closer to Raleigh itself.

Azaka owns one of their houses and it's pretty nice though.

1/11/2007 8:26:01 PM

is a 1 bed/1 bath condo worth the trouble? Or do you think I'd have trouble reselling

1/14/2007 1:18:37 AM

maybe if you keep it for a long while

but there is a glut of condos and condo conversions in jacksonville and plenty more on the way.

1/14/2007 1:35:18 AM

that's what I am worried about

I am going to be renting starting next week and up to 3 months of the rent can be applied to a purchase. The condo is brand new and I can break my rental lease at any time to buy. It's the Gardens of Bridgehampton off of Gate Parkway West.

http://www.thebridgehampton.com

I have heard that there are a lot of young professionals in Jax and that reselling a 1bed/1bath isn't toooooo hard. Any truth in this? What are your thoughts?

1/14/2007 10:39:37 AM

I think you'd have trouble reselling. Even "young professionals" would still want a 2nd bedroom to be the office, guest bedroom, storage, etc.

1/14/2007 11:04:02 AM

good point

1/14/2007 11:18:55 AM

wow... moved down here Sunday and the movers moved me in Monday. This place is amazing. I'm really tempted to buy. It's a 1 bedroom/1 bath, but its almost as big as a 2 bed/2 bath

Heated Square ft: 1040
Then 40 sq ft of a porch/balcony

1/23/2007 12:03:07 PM

I always had to have a second bedroom..

I could NOT do a 1 bedroom, and I think it would be a bad purchase when it came to leasing it out to someone else...

[Edited on January 23, 2007 at 12:36 PM. Reason : Some people feel the need to constantly troll.]

1/23/2007 12:18:10 PM

hahahaha

I don't think it's possible for sarose to make a post that doesn't have something to do with how much money she claims to have.

1/23/2007 12:34:57 PM

Any references about real estate websites/agents?

Looking for something up to 200,000. Less is nice though. At least .25 acres. The farthest in Raleigh it can be is near NC State campus. Anywhere in Apex or Morrisville is fine, but I would love to stay in Raleigh on the end closer to Durham.

Personally I would love to have a brick house, but I'm willing to look at other houses that are not brick.

Lots of windows.... and at least 1800 sq. feet.

I have found a bunch of houses on websites but not really sure where to go from there...

Oh and my lease is up May 31st. So time to start looking eh?

1/25/2007 3:25:37 PM

http://www.hpw.com/ Dave Peterson

1/25/2007 3:33:36 PM

Norma Fuller with ReMax

20+ years experience in Triangle area and great to deal with

http://normafuller.net/AgentHome/Homepage.aspx

1/25/2007 3:37:22 PM

Quote :

"Any references about real estate websites/agents? Looking for something up to 200,000. Less is nice though. At least .25 acres. The farthest in Raleigh it can be is near NC State campus. Anywhere in Apex or Morrisville is fine, but I would love to stay in Raleigh on the end closer to Durham. Personally I would love to have a brick house, but I'm willing to look at other houses that are not brick. Lots of windows.... and at least 1800 sq. feet. I have found a bunch of houses on websites but not really sure where to go from there... Oh and my lease is up May 31st. So time to start looking eh? "

BTTT...

Although it can be smaller than 1800 because lately I have been finding some cuter smaller homes.

1/29/2007 3:31:37 PM

Quote :

"Any references about real estate websites/agents? Looking for something up to 200,000. Less is nice though. At least .25 acres. The farthest in Raleigh it can be is near NC State campus. Anywhere in Apex or Morrisville is fine, but I would love to stay in Raleigh on the end closer to Durham. Personally I would love to have a brick house, but I'm willing to look at other houses that are not brick. Lots of windows.... and at least 1800 sq. feet. I have found a bunch of houses on websites but not really sure where to go from there... Oh and my lease is up May 31st. So time to start looking eh? "

BTTT...

Although it can be smaller than 1800 because lately I have been finding some cute smaller homes.

1/29/2007 3:31:37 PM

http://www.hpw.com/ Dave Peterson

I don't have any other sites to compare this with, but I really liked their search engine.

1/29/2007 3:35:29 PM

Anyone here in a real estate investment group / partnership, where your money is whats being invested (not working for someone elses company as the secretary, but actually a founder/owner/investor) ??

I am interested in doing this, but dont really know how to find the right people to partner with.

1/29/2007 6:07:20 PM

What type of investing are you talking about? Flipping, renting, etc?

1/29/2007 6:10:24 PM

Some of both wouldnt be out of the question ... flipping when appropriate, renting for some stable cashflow...

1/30/2007 4:57:30 PM

I just put in an offer/signed a contract for a new townhouse.

I am thoroughly excited. Now I just need to hash all the mortgage details out.

1/30/2007 7:24:14 PM

My Dog Tess (mydogtess.com) seems to be a great company to get an agent from....got a recomendation from someone at work and tried them myself. The best part is they give back 1% of the total purchase price of the home in cases where they make money. That 1% back is going to pretty much cover my closing costs.

1/30/2007 7:33:00 PM

^ Through whom are you getting your mortgage?

1/30/2007 7:46:31 PM

robster...i'm looking to do the same too so learning/doing as much research as I can.....flipping sounds glamorous but you have to be cautious...if you're talking about renovating and flipping it's much harder than you think.

stein...which community did you end up with

DjGohan...how much does Dog make even with the 1% rebate

ncsuGALxcPaC...pm me what you're looking for and i may be able to redirect you to some neighborhoods.....

1/30/2007 8:25:57 PM

you folks need to get into rural land

1/30/2007 8:32:02 PM

Quote :

"stein...which community did you end up with"

Bryarton Village

1/30/2007 8:32:43 PM

Quote :

"DjGohan...how much does Dog make even with the 1% rebate"

I assume they make the other 2% (3% - 1%)

I've heard of such companies, but I opted for a regular buyers agent. I think it's worth the 1% especially for first time buyers.

1/30/2007 8:39:58 PM

They probably make 1.4% since 2.4% seems to be the going rate for buyers agency. Definitely smart to get a buyers agent since it's no cost to you and you're sure they represent your interests only. Just be sure they are not leaning towards only showing you listings within their own firm too.

But again these days you never know about agents true intentions and who's interests they represent. Remember at the end of the day they're trying to make money too so sooner you buy sooner they make money. Plus now sellers and builders are offering more incentives to buyer agents for bringing in new buyers.

Go with your instincts. If you feel your agent is getting sketch, dump him/her.

1/30/2007 11:34:26 PM

Quote :

"I've heard of such companies, but I opted for a regular buyers agent. I think it's worth the 1% especially for first time buyers."

What do you mean by "regular?" I worked with an agent from My Dog Tess and found him to be hard working and knowledgeable. Can't say there was any difference between him and any other agent except you would receive some $ back at closing.

As for the rate, the commission is usually 6% with 3% going to the buyer's agent and 3% to the sellers agent. In Wake county I believe they split it 3.6% and 2.4% though. I have no idea why it would be different here, but that's what an agent told me.

[Edited on January 31, 2007 at 12:07 AM. Reason : l]

1/31/2007 12:07:04 AM

Quote :

"They probably make 1.4% since 2.4% seems to be the going rate for buyers agency."

Yeah, it's based on county. Durham County is 3%-3% split.

Quote :

"What do you mean by "regular?" I worked with an agent from My Dog Tess and found him to be hard working and knowledgeable. Can't say there was any difference between him and any other agent except you would receive some $ back at closing."

Well, this is my first house, so I don't know what an agent usually does. My agent showed me multiple places and worked around my schedule. Also, I went with new construction and my agent will come with me to the multiple walkthroughs of the house while it is being built.

1/31/2007 8:18:31 AM

I was thinking about getting a buyer's agent through Ammons-Pittman.

I rent through them right now and love them, so I thought that was an option....

Also does anyone know anything about that product offered by NC for first time homeowners?

Apparently the max the house can be is like $170,000, 5.5% interest rate, mortgage insurance is required, and you can put 0% down. There is also some salary cap but it's pretty up there.

1/31/2007 10:28:50 AM

http://www.tarheelnativerealty.com

Tell him Clayton sent you.

1/31/2007 10:34:21 AM

The max varies county to county.

http://www.nchfa.com/Applications/IncomeSalesLender/MRB_ISL_Search.aspx

1/31/2007 10:46:52 AM

Quote :

"Also does anyone know anything about that product offered by NC for first time homeowners? Apparently the max the house can be is like $170,000, 5.5% interest rate, mortgage insurance is required, and you can put 0% down. There is also some salary cap but it's pretty up there."

I know Wachovia was giving me great rates based on my income, the amount I'd planned to borrow (which was low) and the amount I was going to put down (which was over 20%) coupled with being a first time buyer. Might want to talk to them, since if nothing else they seem pretty knowledgable about what kind of deals you can get.

1/31/2007 12:07:19 PM

If you don't have much of a down payment or enough to cover the first 20% you should consider a "piggyback" or combination loan. Essentially you take out two mortgages, one to cover the first 20% (or whatever percentage you need to cover to reach 20% if you are putting some cash down) and the second 80% mortgage will be your standard 30 year. The smaller one will keep you from having to pay mortgage insurance. There are several options for the smaller loan, most likely it will have a higher rate than the larger loan, but it will almost be much shorter (maybe 5 years). The closer together the rates of the two loans are the better off. You will also be better off when tax time comes around.

1/31/2007 12:30:50 PM

Don't forget that pmi is tax deductable if you buy a house now. Just something else to consider when doing your comparison of pmi vs piggyback.

[Edited on January 31, 2007 at 1:03 PM. Reason : ]

1/31/2007 1:03:31 PM

Anyone have a good lawyer they'd like to recommend?

2/1/2007 3:03:40 PM

starting my house hunt in atlanta this weekend - hopefully all goes well

2/1/2007 3:30:11 PM

Are you familiar with the big chicken?

2/1/2007 3:31:28 PM

no but i do know the egg?

2/1/2007 3:34:55 PM

I drove up to the Big Chicken last Summer just to see what it was, because everyone was always talking about. It was everything I thought it would be.

2/1/2007 3:37:48 PM

I would love to live in downtown Atlanta... I stayed in the Marriott Marquis downtown 1 night on the 37th floor... amazing

So I am wondering how I am supposed to afford a condo down here in Jacksonville, FL. 2bed/2baths are averaging $200k and that kind of mortgage payment would be like 1/2 of my pay.

[Edited on February 1, 2007 at 8:35 PM. Reason : any ideas?]

2/1/2007 8:33:53 PM

Quote :

"Anyone have a good lawyer they'd like to recommend? "

Bill Titchener 919-783-5006

2/1/2007 9:47:33 PM

Quote :

"So I am wondering how I am supposed to afford a condo down here in Jacksonville, FL. 2bed/2baths are averaging $200k and that kind of mortgage payment would be like 1/2 of my pay."

damn 1 bd 1 ba condos downtown raleigh start at 220k... 200 for a two bed isn't bad at all....


but you're looking at around 1200 a month, not including HOA dues.

2/1/2007 9:56:17 PM

^yup, looks like around 1200/mo + HOA fees ($200-300)... does no one else thing thats a lot? The places around this price are further from downtown, but are in the new "Southside" area with a lot of malls and big business.

I wish I could afford downtown Jax... or on the riverfront

2/1/2007 10:21:13 PM

If that is half your pay then you should probably wait to buy a home.

2/2/2007 12:33:34 AM

^ I wouldn't necessarily agree. If it is half his take home pay then that's not too bad. He'd still be left with $1200 a month for everything else which should be plenty as long as he doesn't have much outstanding debt or a new BMW.

If he doesn't mind getting a roommate he could pull in another $350+ a month plus get half his utilities paid.

The caveat of waiting is that two or three years from now when your salary has increased you might find that the condo has gone up as well. Plus, you have to consider the price of paying rent for a few years which is really money down the drain.

When I was just starting out I didn't want to buy a "starter home" and I didn't think I could afford a nice home. I was wrong about not being able to afford a nice home and by the time I bought one it had gone up $35,000. Made me wish I had bought it in the beginning and worked to keep my other costs down until my salary went up. If I had done that I would have that $35k in the house as equity today.

2/2/2007 12:27:30 PM

anyone know how USAA rates among mortgage rates? I am trying to find the best mortgage loan. But I am betting they're all about the same...

2/3/2007 10:58:38 PM

You'd be surprised. The rates I've gotten have fluctuated a good deal between lenders.

2/4/2007 1:25:08 AM

I am thinking I will go ahead and buy a 1bed/1bath for about $130k, in addition, builder will pay $17k is closing costs, upgrades, and gift cards. Seems like a decent deal for me right now. It's about to be right down the street from a major shopping area in jacksonville (St. John Towne Center) in the next month or so when they open the rest of the road. I figure I can afford it and still be able to splurge on other stuff. And it's like a starter home, if you will, for me to figure what homeowning is about on a smaller scale. And in 2-6 years when I want to resell... if I lose less than I would have paid in rent, I will still be happy.

2/6/2007 9:33:00 PM