Homes for sale in Riverside County:
Everyone wants a deal in todays Market.....everyone wants to know they waited just long enough, but not too long to get the best deal possible. Well, here is a home that just came on the Market, an older resale....listed for way less than the previous owner bought it for. It is an REO....the Bank owns it now, but why would this house save you money?
Brand new homes do not necessarily mean the best construction....many just look nice. Moreno Valley had several instances of Homeowners suing Builders for everything from drainage problems, to window alignment. Also in a new Housing Tract you have years to wait for the landscaping to mature, you don't know who your neighbors will be, and everyones house looks alike....
Oh, and let's not forget the FEES
Homeowners Association. Yes, there are good things to having one, but you do pay for it.
Mello Roos.....who is paying for that nice Park, the bridge, whatever....You are, and your neighbors.
Landscaping.....that could be another fee in the Landscaping District of the City....fees charged to new developments to pay for the bushes, and trees along the street.
In order to buy one of these REO (Bank Owned) Homes the Bank usually has certain criteria that must be met. At the very least You will probably be asked by your Agent to be Pre-Approved for a loan, show proof of funds, and have a good FICO Score. These things will need to accompany your Offer to Purchase......
You can find a good deal, and you can upgrade an older home later, but for now....for now take advantage of the lower Interest Rates. For now, save money by buying a home that doesn't have any extra fees, for now why not buy that Home that you have been waiting for.........while it is still Affordable.
By: Kathy McGraw- CELLing Realty in Riverside County
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