Woodbridge Virginia Real Estate News About Woodbridge Homes For Sale
You Want To Steal A Deal On A House Cuz Daddy Said You Could Get $250,000 House For $185,000
I'm Sorry But I Can't Help You Buy A Home
You want to buy a home. You want to steal a deal $50,000, $100,000, $150,000 under market.
You have two (2) strikes against you:
1. Homes that are habitable are selling OVER list price in bidding wars all across Northern Virginia.
2. If there was, in fact, a steal of a deal that could be had $50K - $150K under market, you'd never get a shot at buying it because the listing agent would buy it for investment. If not the listing agent, I can guarantee another agent in the listing agent's office would buy it before it hit the MLS.
From Time To Time I Get One Of THOSE Calls...
"Hey there, I'm ready to buy a house, and I want a really good deal. Mr Erick, I see you're a big player in real estate around here, so I thought I'd give your first crack at getting my business."
Hmmm... sucking-up and hubris in the same sentence... RED FLAG.
So I say, "Tell me about your situation."
"Well Mr Erick, I figure I can qualify for maybe $250,000. My credit isn't good, so I'll need some of your expertise with creative financing. I want to get a house no money down, no closing costs, and cash back at closing. I'd like a newer single family home in Arlington, maybe something on land, you know, like five or ten acres."
Hmmmm... lenders don't do crummy credit loans... Veterans Administration home loans are the only zero down loans, and they don't do loans for buyers with crummy credit... Arlington home builders ran out of buildable land in the 1950's, and moved out to Fairfax County... five to ten acres in Arlington??? THREE RED FLAGS.
I don't respond, I just say, "Tell me more about the features you want."
"Well Mr Erick, four bedrooms, three full baths, a half bath, three car garage is a must, finished basement with a theater room for my 60" plasma TV that cost me $4,500."
Hmmmm... no cash for a down payment, crummy credit, but he scraped enough money from five of his maxed-out credit cards to pay for a $4,500 plasma TV. At this point, I'm wondering if his parents know how bad this guy has screwed up his finances?
I jump in with a response, "Getting what you want, where you want it, for $250,000..."
"OH NO!! I DON'T WANT TO SPEND $250,000! I WANT TO GET A $250,000 HOUSE FOR $40,000 - $85,000!!"
"Well, as I started to say, getting what you want, for $250,000, in Arlington is a show-stopper. Have you sat down with a lender to find out what you qualify for?"
"What?"
"I appreciate you thinking of me and giving me a call, but I'm not going to be able to help you."
(Long pause) "Uh, what do you mean?"
"I've listened to your needs, and I'm not the right agent for you. Now, I've got another call to take, (I don't have another call, I just need to dump this clown) so I need to jump off."
"But Mr Erick, I know it can be done. Sounds like you're too lazy to roll up your sleves and work."
I reply, "I suppose that may be, but it would be foolish for you to hire someone to take you down the path to home ownership when 20+ years of experience tells me that you haven't a chance of getting what you want."
Opportunities Are Everywhere...We Can Help You Find Your Dream Home.
Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.
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