There are some success stories among the doom and gloom of the market for home-buyers! A recent first-time buyer looked at virtually every home that came up for sale between $80,000 and $155,000 - and many of those were pretty rough!
He'd done his due diligence:
We'd offered on several, losing a couple at the maximum of his pre-approval, another after reviewing the ARV (As Repaired Value) and his acquisition / improvement cost.
A couple of the losses were painful, one in particular had tugged at his heart strings. To further augment his offers, we asked his lender to fully underwrite him as a buyer - leaving only property considerations and final approval at stake.
This buyer was very conscious o...