Posts Tagged ‘house’
Case Study Part 2: Buying a Foreclosure
After five months of looking, Jan and her family were at their wits end. Complicating the situation, the loan amount she was approved for as a single person was in a range where she could only afford the lower-priced houses in her area. The few deals on reasonably good conditioned homes she did find were bid up by other buyers who had the means (maybe) to do the fix-ups needed to the properties. Seeing as many houses as she had, Jan — and even some of the agents she came across — felt that people were overpaying for these bank-owned properties, even though they were discounted from the high-priced market at the peak of the bubble.
